American Tower Corporation $AMT Stake Boosted by Premier Path Wealth Partners LLC

Premier Path Wealth Partners LLC lifted its stake in shares of American Tower Corporation (NYSE:AMT) by 15.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 4,086 shares of the real estate investment trust’s stock after purchasing an additional 548 shares during the quarter. Premier Path Wealth Partners LLC’s holdings in American Tower were worth $903,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in AMT. North Capital Inc. acquired a new stake in American Tower in the first quarter worth $25,000. Hopwood Financial Services Inc. increased its position in American Tower by 100.0% in the first quarter. Hopwood Financial Services Inc. now owns 120 shares of the real estate investment trust’s stock worth $26,000 after buying an additional 60 shares during the period. Rosenberg Matthew Hamilton increased its position in American Tower by 86.0% in the second quarter. Rosenberg Matthew Hamilton now owns 173 shares of the real estate investment trust’s stock worth $38,000 after buying an additional 80 shares during the period. Saudi Central Bank acquired a new stake in American Tower in the first quarter worth $40,000. Finally, Accredited Wealth Management LLC increased its position in American Tower by 180.0% in the first quarter. Accredited Wealth Management LLC now owns 210 shares of the real estate investment trust’s stock worth $46,000 after buying an additional 135 shares during the period. Institutional investors and hedge funds own 92.69% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on AMT shares. Morgan Stanley dropped their target price on American Tower from $270.00 to $235.00 and set an “overweight” rating on the stock in a research report on Thursday, October 16th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of American Tower in a research report on Wednesday, October 8th. Hsbc Global Res lowered American Tower from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 30th. BMO Capital Markets dropped their target price on American Tower from $220.00 to $215.00 and set an “outperform” rating on the stock in a research report on Wednesday. Finally, The Goldman Sachs Group dropped their target price on American Tower from $250.00 to $230.00 and set a “buy” rating on the stock in a research report on Wednesday. Two investment analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, American Tower presently has an average rating of “Moderate Buy” and an average price target of $230.88.

American Tower Stock Performance

AMT opened at $179.60 on Friday. The company has a market capitalization of $84.10 billion, a price-to-earnings ratio of 28.69, a price-to-earnings-growth ratio of 1.08 and a beta of 0.86. The company has a debt-to-equity ratio of 3.24, a current ratio of 0.89 and a quick ratio of 0.95. American Tower Corporation has a 1-year low of $172.51 and a 1-year high of $234.33. The business has a 50 day moving average price of $193.35 and a two-hundred day moving average price of $208.32.

American Tower (NYSE:AMT) last released its earnings results on Tuesday, October 28th. The real estate investment trust reported $2.78 earnings per share for the quarter, topping analysts’ consensus estimates of $2.64 by $0.14. The firm had revenue of $2.72 billion during the quarter, compared to the consensus estimate of $2.65 billion. American Tower had a return on equity of 28.79% and a net margin of 28.11%.The firm’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.52 earnings per share. American Tower has set its FY 2025 guidance at 10.600-10.720 EPS. Research analysts predict 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 was paid on Monday, October 20th. Investors of record on Tuesday, September 30th were issued a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date of this dividend was Tuesday, September 30th. American Tower’s payout ratio is presently 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.