Oak Hill Wealth Advisors LLC Raises Stock Position in American Tower Corporation $AMT

Oak Hill Wealth Advisors LLC increased its holdings in shares of American Tower Corporation (NYSE:AMT) by 188.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,826 shares of the real estate investment trust’s stock after purchasing an additional 2,500 shares during the period. Oak Hill Wealth Advisors LLC’s holdings in American Tower were worth $844,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in AMT. North Capital Inc. purchased a new position in American Tower in the first quarter valued at $25,000. Hopwood Financial Services Inc. increased its stake in shares of American Tower by 100.0% during the first quarter. Hopwood Financial Services Inc. now owns 120 shares of the real estate investment trust’s stock worth $26,000 after purchasing an additional 60 shares in the last quarter. E Fund Management Hong Kong Co. Ltd. purchased a new stake in shares of American Tower during the first quarter worth about $31,000. City Holding Co. purchased a new stake in shares of American Tower during the first quarter worth about $39,000. Finally, Saudi Central Bank purchased a new stake in shares of American Tower during the first quarter worth about $40,000. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on AMT shares. Royal Bank Of Canada set a $220.00 price target on shares of American Tower and gave the stock a “sector perform” rating in a research report on Wednesday. Raymond James Financial set a $250.00 target price on shares of American Tower and gave the company a “strong-buy” rating in a report on Wednesday, July 30th. Wells Fargo & Company decreased their target price on shares of American Tower from $240.00 to $230.00 and set an “overweight” rating on the stock in a report on Wednesday, July 30th. Wall Street Zen lowered shares of American Tower from a “hold” rating to a “sell” rating in a report on Saturday. Finally, Hsbc Global Res lowered shares of American Tower from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 30th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, American Tower presently has a consensus rating of “Moderate Buy” and a consensus price target of $242.07.

American Tower Price Performance

Shares of AMT opened at $190.10 on Friday. The firm’s fifty day simple moving average is $201.53 and its 200-day simple moving average is $211.76. American Tower Corporation has a twelve month low of $172.51 and a twelve month high of $234.33. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 3.36. The firm has a market capitalization of $89.01 billion, a price-to-earnings ratio of 69.13, a PEG ratio of 1.18 and a beta of 0.86.

American Tower (NYSE:AMT) last announced its quarterly earnings results on Tuesday, July 29th. The real estate investment trust reported $2.60 EPS for the quarter, topping the consensus estimate of $2.59 by $0.01. American Tower had a net margin of 12.60% and a return on equity of 24.85%. The firm had revenue of $2.63 billion for the quarter, compared to analyst estimates of $2.58 billion. During the same period last year, the business earned $2.79 EPS. American Tower’s revenue for the quarter was down 9.4% compared to the same quarter last year. American Tower has set its FY 2025 guidance at 10.460-10.650 EPS. Equities analysts forecast that American Tower Corporation will post 10.14 EPS for the current fiscal year.

American Tower Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, October 20th. Stockholders of record on Tuesday, September 30th will be issued a $1.70 dividend. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $6.80 annualized dividend and a dividend yield of 3.6%. American Tower’s payout ratio is presently 247.27%.

Insider Buying and Selling at American Tower

In other news, CEO Juan Font sold 720 shares of American Tower stock in a transaction dated Thursday, July 31st. The shares were sold at an average price of $208.33, for a total value of $149,997.60. Following the sale, the chief executive officer owned 23,425 shares of the company’s stock, valued at $4,880,130.25. The trade was a 2.98% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.17% of the stock is currently owned by insiders.

About American Tower

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.