BLB&B Advisors LLC Has $253,000 Stake in American Tower Corporation $AMT

BLB&B Advisors LLC decreased its holdings in American Tower Corporation (NYSE:AMT) by 5.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,145 shares of the real estate investment trust’s stock after selling 63 shares during the period. BLB&B Advisors LLC’s holdings in American Tower were worth $253,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. North Capital Inc. acquired a new position in shares of American Tower in the 1st quarter valued at about $25,000. Hopwood Financial Services Inc. grew its stake in shares of American Tower by 100.0% in the 1st quarter. Hopwood Financial Services Inc. now owns 120 shares of the real estate investment trust’s stock valued at $26,000 after buying an additional 60 shares in the last quarter. Rosenberg Matthew Hamilton grew its stake in shares of 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 buying an additional 80 shares in the last quarter. Saudi Central Bank bought a new stake in shares of American Tower in the 1st quarter valued at approximately $40,000. Finally, Accredited Wealth Management LLC grew its stake in shares of American Tower by 180.0% in the 1st quarter. Accredited Wealth Management LLC now owns 210 shares of the real estate investment trust’s stock valued at $46,000 after buying an additional 135 shares in the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

American Tower Stock Down 0.2%

Shares of American Tower stock opened at $179.18 on Friday. The stock has a market capitalization of $83.90 billion, a P/E ratio of 28.62, a PEG ratio of 1.08 and a beta of 0.86. The company has a quick ratio of 0.95, a current ratio of 0.89 and a debt-to-equity ratio of 3.24. The stock has a 50 day moving average price of $192.70 and a two-hundred day moving average price of $208.05. American Tower Corporation has a 12-month low of $172.51 and a 12-month high of $234.33.

American Tower (NYSE:AMT) last posted its quarterly earnings data on Tuesday, October 28th. The real estate investment trust reported $2.78 earnings per share for the quarter, beating the consensus estimate of $2.64 by $0.14. American Tower had a return on equity of 28.79% and a net margin of 28.11%.The company had revenue of $2.72 billion during the quarter, compared to analysts’ expectations of $2.65 billion. During the same period in the prior year, the business earned $2.52 earnings per share. American Tower’s revenue for the quarter was up 7.7% compared to the same quarter last year. American Tower has set its FY 2025 guidance at 10.600-10.720 EPS. Equities analysts expect that American Tower Corporation will post 10.14 earnings per share for the current year.

American Tower Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 20th. Stockholders of record on Tuesday, September 30th were given a $1.70 dividend. This represents a $6.80 annualized dividend and a dividend yield of 3.8%. The ex-dividend date of this dividend was Tuesday, September 30th. American Tower’s dividend payout ratio is currently 108.63%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Wells Fargo & Company lowered their price target on American Tower from $210.00 to $200.00 and set an “overweight” rating for the company in a research note on Wednesday. Barclays boosted their price target on American Tower from $250.00 to $251.00 and gave the company an “overweight” rating in a research note on Friday, October 17th. Weiss Ratings reissued a “hold (c-)” rating on shares of American Tower in a research note on Wednesday, October 8th. BMO Capital Markets lowered their price target on American Tower from $220.00 to $215.00 and set an “outperform” rating for the company in a research note on Wednesday. Finally, Wall Street Zen raised American Tower from a “sell” rating to a “hold” rating in a research report on Sunday, October 12th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, American Tower currently has a consensus rating of “Moderate Buy” and a consensus target price of $230.88.

American Tower 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.