American Tower Corporation $AMT Shares Bought by HB Wealth Management LLC

HB Wealth Management LLC grew its position in American Tower Corporation (NYSE:AMT) by 14.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 44,739 shares of the real estate investment trust’s stock after acquiring an additional 5,764 shares during the period. HB Wealth Management LLC’s holdings in American Tower were worth $8,604,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. CX Institutional boosted its holdings in American Tower by 279.0% in the 3rd quarter. CX Institutional now owns 8,763 shares of the real estate investment trust’s stock valued at $1,685,000 after purchasing an additional 6,451 shares in the last quarter. Strategic Blueprint LLC lifted its holdings in shares of American Tower by 30.8% in the 3rd quarter. Strategic Blueprint LLC now owns 1,886 shares of the real estate investment trust’s stock valued at $363,000 after buying an additional 444 shares during the period. Outfitters Financial LLC boosted its stake in shares of American Tower by 12.3% in the third quarter. Outfitters Financial LLC now owns 4,470 shares of the real estate investment trust’s stock valued at $860,000 after buying an additional 490 shares in the last quarter. Spirepoint Private Client LLC acquired a new position in American Tower during the third quarter worth $325,000. Finally, Gladstone Institutional Advisory LLC raised its position in American Tower by 33.7% in the third quarter. Gladstone Institutional Advisory LLC now owns 2,338 shares of the real estate investment trust’s stock worth $450,000 after acquiring an additional 589 shares in the last quarter. 92.69% of the stock is owned by hedge funds and other institutional investors.

American Tower Stock Up 0.5%

AMT stock opened at $170.23 on Friday. The company has a debt-to-equity ratio of 3.24, a current ratio of 0.89 and a quick ratio of 0.89. The company’s 50 day simple moving average is $178.16 and its 200-day simple moving average is $195.30. American Tower Corporation has a 12 month low of $168.34 and a 12 month high of $234.33. The firm has a market capitalization of $79.69 billion, a PE ratio of 27.19, a P/E/G ratio of 0.65 and a beta of 0.92.

American Tower (NYSE:AMT) last posted its earnings results on Tuesday, October 28th. The real estate investment trust reported $2.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.64 by $0.14. The firm had revenue of $2.72 billion for the quarter, compared to analyst estimates of $2.65 billion. American Tower had a return on equity of 28.79% and a net margin of 28.11%.American Tower’s revenue was up 7.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.52 EPS. American Tower has set its FY 2025 guidance at 10.600-10.720 EPS. Equities analysts expect that American Tower Corporation will post 10.14 earnings per share for the current fiscal year.

American Tower Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 2nd. Investors of record on Monday, December 29th will be paid a dividend of $1.70 per share. The ex-dividend date of this dividend is Monday, December 29th. This represents a $6.80 dividend on an annualized basis and a dividend yield of 4.0%. American Tower’s dividend payout ratio (DPR) is presently 108.63%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the stock. Morgan Stanley lowered their price target on shares of American Tower from $255.00 to $235.00 and set an “overweight” rating on the stock in a research note on Thursday, December 4th. UBS Group restated a “buy” rating on shares of American Tower in a research report on Wednesday, December 10th. Wells Fargo & Company dropped their target price on shares of American Tower from $210.00 to $200.00 and set an “overweight” rating for the company in a report on Wednesday, October 29th. Royal Bank Of Canada reissued a “sector perform” rating and set a $220.00 price target on shares of American Tower in a research note on Friday, December 19th. Finally, Raymond James Financial restated a “strong-buy” rating and issued a $231.00 price target (down previously from $250.00) on shares of American Tower in a report on Wednesday, October 29th. Two analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, American Tower has a consensus rating of “Moderate Buy” and a consensus price target of $226.61.

Insider Transactions at American Tower

In other news, Director Eugene F. Reilly purchased 5,554 shares of the firm’s stock in a transaction on Friday, October 31st. The shares were bought at an average cost of $178.99 per share, with a total value of $994,110.46. Following the purchase, the director directly owned 5,689 shares of the company’s stock, valued at approximately $1,018,274.11. This trade represents a 4,114.07% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Tower Corp /Ma/ American sold 2,288,621 shares of the business’s stock in a transaction that occurred on Tuesday, December 9th. The shares were sold at an average price of $69.75, for a total transaction of $159,631,314.75. Following the completion of the transaction, the insider directly owned 211,379 shares of the company’s stock, valued at approximately $14,743,685.25. This represents a 91.54% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 0.17% of the company’s stock.

About American Tower

American Tower (NYSE: AMT) is a real estate investment trust (REIT) that owns, operates and develops wireless and broadcast communications infrastructure. The company’s core business is leasing space on communications sites — including towers, rooftops and other structures — to wireless carriers, broadcasters, government agencies and enterprise customers. Its business model centers on long-term site leases and contracts that provide recurring revenue tied to the footprint and density of wireless networks.

Beyond traditional tower assets, American Tower offers a range of infrastructure and network services to support mobile, broadband and broadcast connectivity.