Resonant Capital Advisors LLC Has $446,000 Stock Position in American Tower Corporation $AMT

Resonant Capital Advisors LLC grew its position in shares of American Tower Corporation (NYSE:AMT) by 54.2% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,005 shares of the real estate investment trust’s stock after acquiring an additional 705 shares during the quarter. Resonant Capital Advisors LLC’s holdings in American Tower were worth $446,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in AMT. Blossom Wealth Management boosted its stake in shares of American Tower by 1.8% during the 2nd quarter. Blossom Wealth Management now owns 2,601 shares of the real estate investment trust’s stock worth $575,000 after buying an additional 45 shares during the last quarter. TFG Advisers LLC boosted its position in American Tower by 0.3% during the second quarter. TFG Advisers LLC now owns 16,186 shares of the real estate investment trust’s stock valued at $3,578,000 after purchasing an additional 47 shares during the last quarter. Novem Group boosted its position in American Tower by 3.8% during the second quarter. Novem Group now owns 1,316 shares of the real estate investment trust’s stock valued at $291,000 after purchasing an additional 48 shares during the last quarter. Cypress Wealth Services LLC boosted its position in American Tower by 1.9% during the second quarter. Cypress Wealth Services LLC now owns 2,684 shares of the real estate investment trust’s stock valued at $593,000 after purchasing an additional 49 shares during the last quarter. Finally, Elmwood Wealth Management Inc. boosted its position in American Tower by 2.5% during the first quarter. Elmwood Wealth Management Inc. now owns 2,087 shares of the real estate investment trust’s stock valued at $454,000 after purchasing an additional 50 shares during the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on AMT shares. JPMorgan Chase & Co. increased their price objective on American Tower from $250.00 to $255.00 and gave the company an “overweight” rating in a report on Wednesday, July 30th. UBS Group increased their price target on shares of American Tower from $250.00 to $260.00 and gave the company a “buy” rating in a research note on Tuesday, July 8th. Citigroup cut 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. The Goldman Sachs Group restated a “buy” rating on shares of American Tower in a research report on Tuesday, July 29th. Finally, Wall Street Zen raised American Tower from a “sell” rating to a “hold” rating in a report on Sunday, October 12th. Two research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, American Tower currently has an average rating of “Moderate Buy” and an average target price of $236.75.

American Tower Price Performance

Shares of American Tower stock opened at $191.36 on Monday. American Tower Corporation has a twelve month low of $172.51 and a twelve month high of $234.33. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 3.36. The company has a 50-day simple moving average of $195.30 and a two-hundred day simple moving average of $209.07. The stock has a market capitalization of $89.60 billion, a price-to-earnings ratio of 69.58, a price-to-earnings-growth ratio of 1.16 and a beta of 0.86.

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

American Tower Dividend Announcement

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

Insiders Place Their Bets

In related news, CEO Juan Font sold 720 shares of the business’s stock in a transaction dated Thursday, July 31st. The stock was sold at an average price of $208.33, for a total value of $149,997.60. Following the completion of the transaction, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.18% of the stock is owned by corporate insiders.

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.