Center for Financial Planning Inc. Has $1.01 Million Stock Position in American Tower Corporation $AMT

Center for Financial Planning Inc. grew its position in American Tower Corporation (NYSE:AMT) by 5.9% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 4,569 shares of the real estate investment trust’s stock after buying an additional 255 shares during the period. Center for Financial Planning Inc.’s holdings in American Tower were worth $1,010,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in American Tower by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 62,809,486 shares of the real estate investment trust’s stock worth $13,667,344,000 after purchasing an additional 434,118 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in American Tower by 39.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,144,040 shares of the real estate investment trust’s stock worth $1,772,144,000 after purchasing an additional 2,309,627 shares during the period. Deutsche Bank AG boosted its stake in American Tower by 4.0% in the 1st quarter. Deutsche Bank AG now owns 7,383,368 shares of the real estate investment trust’s stock worth $1,606,621,000 after purchasing an additional 285,195 shares during the period. Dimensional Fund Advisors LP boosted its stake in American Tower by 1.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 6,534,862 shares of the real estate investment trust’s stock worth $1,421,965,000 after purchasing an additional 88,120 shares during the period. Finally, Invesco Ltd. boosted its stake in American Tower by 0.5% in the 1st quarter. Invesco Ltd. now owns 5,971,716 shares of the real estate investment trust’s stock worth $1,299,445,000 after purchasing an additional 30,130 shares during the period. Institutional investors and hedge funds own 92.69% of the company’s stock.

American Tower Stock Down 0.2%

Shares of AMT stock opened at $179.18 on Friday. The company has a debt-to-equity ratio of 3.24, a quick ratio of 0.95 and a current ratio of 0.89. The firm’s 50-day moving average is $192.70 and its 200-day moving average is $208.05. The stock has a market cap of $83.90 billion, a price-to-earnings ratio of 28.62, a PEG ratio of 1.08 and a beta of 0.86. American Tower Corporation has a 52-week low of $172.51 and a 52-week high of $234.33.

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

American Tower Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, October 20th. Stockholders 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 3.8%. The ex-dividend date of this dividend was Tuesday, September 30th. American Tower’s dividend payout ratio is presently 108.63%.

Wall Street Analyst Weigh In

AMT has been the subject of a number of research analyst reports. JPMorgan Chase & Co. reduced their target price on shares of American Tower from $255.00 to $250.00 and set an “overweight” rating for the company in a research note on Wednesday. Royal Bank Of Canada set a $220.00 target price on shares of American Tower and gave the stock a “sector perform” rating in a research note on Wednesday, October 1st. Morgan Stanley reduced their target price on shares of American Tower from $270.00 to $235.00 and set an “overweight” rating for the company in a research note on Thursday, October 16th. Hsbc Global Res cut shares of American Tower from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 30th. Finally, Wells Fargo & Company cut their price target on shares of American Tower from $210.00 to $200.00 and set an “overweight” rating on the stock in a research report on Wednesday. Two analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $230.88.

About American Tower

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.