Beverly Hills Private Wealth LLC Has $1.21 Million Stock Holdings in American Tower Corporation $AMT

Beverly Hills Private Wealth LLC trimmed its stake in shares of American Tower Corporation (NYSE:AMT) by 4.9% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,474 shares of the real estate investment trust’s stock after selling 281 shares during the quarter. Beverly Hills Private Wealth LLC’s holdings in American Tower were worth $1,210,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in AMT. North Capital Inc. acquired a new position in American Tower during the 1st quarter worth approximately $25,000. Hopwood Financial Services Inc. increased its position 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 purchasing an additional 60 shares in the last quarter. E Fund Management Hong Kong Co. Ltd. acquired a new position in American Tower in the 1st quarter valued at approximately $31,000. Rosenberg Matthew Hamilton increased its position 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 valued at $38,000 after acquiring an additional 80 shares during the period. Finally, Saudi Central Bank acquired a new position in American Tower in the 1st quarter valued at approximately $40,000. 92.69% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Citigroup decreased their price target on shares of American Tower from $250.00 to $225.00 and set a “buy” rating for the company in a research report on Thursday. Raymond James Financial set a $250.00 price target on shares of American Tower and gave the company a “strong-buy” rating in a research report on Wednesday, July 30th. Weiss Ratings restated a “hold (c-)” rating on shares of American Tower in a research report on Wednesday, October 8th. Wall Street Zen upgraded shares of American Tower from a “sell” rating to a “hold” rating in a research report on Sunday, October 12th. Finally, Wells Fargo & Company decreased their price target on shares of American Tower from $240.00 to $230.00 and set an “overweight” rating for the company in a research report on Wednesday, July 30th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, American Tower has an average rating of “Moderate Buy” and a consensus price target of $238.00.

Insider Transactions at American Tower

In related news, CEO Juan Font sold 720 shares of the stock in a transaction 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 directly owned 23,425 shares of the company’s stock, valued at $4,880,130.25. This represents a 2.98% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.18% of the stock is currently owned by corporate insiders.

American Tower Trading Up 0.1%

NYSE:AMT opened at $191.60 on Monday. The firm’s fifty day moving average is $196.63 and its 200-day moving average is $209.70. The company has a debt-to-equity ratio of 3.36, a quick ratio of 0.95 and a current ratio of 0.95. American Tower Corporation has a 52 week low of $172.51 and a 52 week high of $234.33. The firm has a market cap of $89.72 billion, a P/E ratio of 69.67, a P/E/G ratio of 1.16 and a beta of 0.86.

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

American Tower Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, October 20th. Investors of record on Tuesday, September 30th will be paid a dividend of $1.70 per share. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $6.80 annualized dividend and a yield of 3.5%. American Tower’s dividend payout ratio is currently 247.27%.

American Tower Company 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.