American Tower Corporation $AMT Stock Position Raised by King Luther Capital Management Corp

King Luther Capital Management Corp lifted its stake in shares of American Tower Corporation (NYSE:AMT) by 5.9% during the second quarter, Holdings Channel reports. The firm owned 227,732 shares of the real estate investment trust’s stock after purchasing an additional 12,770 shares during the quarter. King Luther Capital Management Corp’s holdings in American Tower were worth $50,333,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Hopwood Financial Services Inc. raised its holdings in American Tower by 100.0% during the 1st quarter. Hopwood Financial Services Inc. now owns 120 shares of the real estate investment trust’s stock worth $26,000 after buying an additional 60 shares during the period. Legacy Investment Solutions LLC purchased a new stake in shares of American Tower in the 2nd quarter valued at approximately $31,000. Rosenberg Matthew Hamilton boosted its stake in American Tower by 86.0% in the 2nd quarter. Rosenberg Matthew Hamilton now owns 173 shares of the real estate investment trust’s stock worth $38,000 after purchasing an additional 80 shares during the period. Saudi Central Bank purchased a new position in American Tower during the 1st quarter worth approximately $40,000. Finally, Accredited Wealth Management LLC grew its position in American Tower by 180.0% during the 1st quarter. Accredited Wealth Management LLC now owns 210 shares of the real estate investment trust’s stock worth $46,000 after purchasing an additional 135 shares in the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

American Tower Stock Down 0.1%

Shares of American Tower stock opened at $177.86 on Friday. The firm has a market cap of $83.28 billion, a price-to-earnings ratio of 28.41, a P/E/G ratio of 1.08 and a beta of 0.85. The stock has a 50-day simple moving average of $189.98 and a 200-day simple moving average of $206.51. American Tower Corporation has a 52-week low of $172.51 and a 52-week high of $234.33. The company has a debt-to-equity ratio of 3.24, a current ratio of 0.89 and a quick ratio of 0.95.

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

American Tower Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 20th. Investors of record on Tuesday, September 30th were issued a $1.70 dividend. The ex-dividend date was Tuesday, September 30th. This represents a $6.80 dividend on an annualized basis and a yield of 3.8%. American Tower’s dividend payout ratio is currently 108.63%.

Wall Street Analysts Forecast Growth

AMT has been the subject of a number of research analyst reports. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of American Tower in a research report on Wednesday, October 8th. Citigroup restated a “market outperform” rating on shares of American Tower in a research report on Wednesday, October 29th. TD Cowen dropped their target price on American Tower from $249.00 to $235.00 and set a “buy” rating on the stock in a report on Wednesday, October 29th. Wells Fargo & Company reduced their price target on shares of American Tower from $210.00 to $200.00 and set an “overweight” rating for the company in a research report on Wednesday, October 29th. Finally, HSBC lowered their price objective on shares of American Tower from $235.00 to $205.00 in a research report on Wednesday, October 29th. Two analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $231.11.

Insider Buying and Selling

In related news, Director Eugene F. Reilly bought 5,554 shares of the business’s stock in a transaction on Friday, October 31st. The shares were bought at an average cost of $178.99 per share, for a total transaction of $994,110.46. Following the completion of the acquisition, the director directly owned 5,689 shares in the company, valued at approximately $1,018,274.11. This represents a 4,114.07% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.17% of the stock is owned by insiders.

American Tower Profile

American Tower, one of the largest global REITs, is a leading independent owner, operator and developer of multitenant communications real estate with a portfolio of over 224,000 communications sites and a highly interconnected footprint of U.S. data center facilities.