waypoint wealth counsel Purchases 186 Shares of American Tower Corporation $AMT

waypoint wealth counsel raised its position in shares of American Tower Corporation (NYSE:AMT) by 15.2% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,411 shares of the real estate investment trust’s stock after acquiring an additional 186 shares during the quarter. waypoint wealth counsel’s holdings in American Tower were worth $312,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of AMT. Nuveen LLC bought a new stake in shares of American Tower during the first quarter valued at approximately $991,525,000. Price T Rowe Associates Inc. MD boosted its holdings in shares of American Tower by 39.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,144,040 shares of the real estate investment trust’s stock valued at $1,772,144,000 after buying an additional 2,309,627 shares in the last quarter. Bessemer Group Inc. boosted its holdings in shares of American Tower by 272.0% during the 1st quarter. Bessemer Group Inc. now owns 1,136,903 shares of the real estate investment trust’s stock valued at $247,390,000 after buying an additional 831,247 shares in the last quarter. Alyeska Investment Group L.P. bought a new stake in shares of American Tower during the 1st quarter valued at $162,127,000. Finally, Amundi boosted its holdings in shares of American Tower by 35.5% during the 1st quarter. Amundi now owns 2,838,421 shares of the real estate investment trust’s stock valued at $645,694,000 after buying an additional 743,617 shares in the last quarter. 92.69% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. Raymond James Financial set a $250.00 price objective on shares of American Tower and gave the stock a “strong-buy” rating in a research note on Wednesday, July 30th. Barclays boosted their price target on American Tower from $246.00 to $250.00 and gave the stock an “overweight” rating in a research report on Monday, August 18th. BMO Capital Markets reissued an “outperform” rating and issued a $245.00 price target (down from $250.00) on shares of American Tower in a research report on Wednesday, July 30th. The Goldman Sachs Group reissued a “buy” rating on shares of American Tower in a report on Tuesday, July 29th. Finally, UBS Group boosted their target price on American Tower from $250.00 to $260.00 and gave the stock a “buy” rating in a report on Tuesday, July 8th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, American Tower has a consensus rating of “Moderate Buy” and an average price target of $242.07.

American Tower Stock Performance

AMT stock opened at $186.60 on Friday. The stock has a market capitalization of $87.38 billion, a PE ratio of 67.85, a price-to-earnings-growth ratio of 1.13 and a beta of 0.86. American Tower Corporation has a 12-month low of $172.51 and a 12-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 stock’s 50 day simple moving average is $198.75 and its 200 day simple moving average is $210.82.

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

American Tower Dividend Announcement

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

Insiders Place Their Bets

In related news, CEO Juan Font sold 720 shares of the stock in a transaction that occurred on Thursday, July 31st. The shares were sold at an average price of $208.33, for a total transaction of $149,997.60. Following the transaction, the chief executive officer owned 23,425 shares in the company, valued at $4,880,130.25. This represents a 2.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.17% of the stock is currently owned by company 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.