Phoenix Financial Ltd. Raises Stock Position in American Tower Corporation $AMT

Phoenix Financial Ltd. raised its stake in American Tower Corporation (NYSE:AMT) by 97.0% in the second quarter, HoldingsChannel reports. The institutional investor owned 3,046 shares of the real estate investment trust’s stock after buying an additional 1,500 shares during the quarter. Phoenix Financial Ltd.’s holdings in American Tower were worth $672,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Brighton Jones LLC increased its stake in shares of American Tower by 113.0% during the 4th quarter. Brighton Jones LLC now owns 3,966 shares of the real estate investment trust’s stock worth $727,000 after purchasing an additional 2,104 shares in the last quarter. GAMMA Investing LLC increased its stake in shares of American Tower by 9.0% during the 1st quarter. GAMMA Investing LLC now owns 7,821 shares of the real estate investment trust’s stock worth $1,702,000 after purchasing an additional 648 shares in the last quarter. Cambridge Investment Research Advisors Inc. increased its stake in shares of American Tower by 7.2% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 42,998 shares of the real estate investment trust’s stock worth $9,356,000 after purchasing an additional 2,895 shares in the last quarter. Valmark Advisers Inc. purchased a new position in shares of American Tower during the 1st quarter worth approximately $232,000. Finally, Asset Management One Co. Ltd. increased its stake in shares of American Tower by 7.0% during the 1st quarter. Asset Management One Co. Ltd. now owns 196,593 shares of the real estate investment trust’s stock worth $42,779,000 after purchasing an additional 12,847 shares in the last quarter. 92.69% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently weighed in on AMT. Wells Fargo & Company dropped their price objective on shares of American Tower from $230.00 to $210.00 and set an “overweight” rating for the company in a research note on Monday. 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. Weiss Ratings reissued a “hold (c-)” rating on shares of American Tower in a research note on Wednesday, October 8th. Barclays lifted their target price on shares of American Tower from $250.00 to $251.00 and gave the stock an “overweight” rating in a research note on Friday, October 17th. Finally, Citigroup lowered their target price on shares of American Tower from $250.00 to $225.00 and set a “buy” rating for the company in a research note on Thursday, October 16th. Two research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $236.75.

Insider Buying and Selling at American Tower

In other American Tower news, CEO Juan Font sold 720 shares of American Tower stock in a transaction on Thursday, July 31st. The shares were sold at an average price of $208.33, for a total value 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 trade represents a 2.98% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.17% of the stock is currently owned by company insiders.

American Tower Stock Down 0.8%

AMT stock opened at $190.92 on Thursday. The stock has a market capitalization of $89.40 billion, a P/E ratio of 69.43, a PEG ratio of 1.16 and a beta of 0.86. 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 one year low of $172.51 and a one year high of $234.33. The company has a 50 day moving average price of $195.87 and a two-hundred day moving average price of $209.26.

American Tower (NYSE:AMT) last released its 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. The firm had revenue of $2.63 billion during the quarter, compared to analysts’ expectations of $2.58 billion. American Tower had a net margin of 12.60% and a return on equity of 24.85%. American Tower’s revenue for the quarter was down 9.4% on a year-over-year basis. During the same period in the previous year, the company earned $2.79 EPS. American Tower has set its FY 2025 guidance at 10.460-10.650 EPS. As a group, sell-side analysts expect that American Tower Corporation will post 10.14 EPS for the current year.

American Tower Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, October 20th. Shareholders of record on Tuesday, September 30th were issued a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date was Tuesday, September 30th. American Tower’s dividend payout ratio (DPR) is 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.