Heartland Bank & Trust Co Invests $619,000 in American Tower Corporation $AMT

Heartland Bank & Trust Co bought a new position in shares of American Tower Corporation (NYSE:AMT) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,801 shares of the real estate investment trust’s stock, valued at approximately $619,000.

Several other hedge funds have also made changes to their positions in the business. NorthRock Partners LLC boosted its stake in shares of American Tower by 13.4% during the second quarter. NorthRock Partners LLC now owns 7,250 shares of the real estate investment trust’s stock worth $1,615,000 after buying an additional 857 shares during the period. Verdence Capital Advisors LLC boosted its stake in shares of American Tower by 9.8% during the second quarter. Verdence Capital Advisors LLC now owns 2,224 shares of the real estate investment trust’s stock worth $492,000 after buying an additional 198 shares during the period. Oregon Public Employees Retirement Fund boosted its stake in shares of American Tower by 0.5% during the second quarter. Oregon Public Employees Retirement Fund now owns 40,391 shares of the real estate investment trust’s stock worth $8,927,000 after buying an additional 200 shares during the period. Concord Asset Management LLC VA acquired a new stake in shares of American Tower during the second quarter worth about $303,000. Finally, Sequoia Financial Advisors LLC boosted its stake in shares of American Tower by 6.7% during the second quarter. Sequoia Financial Advisors LLC now owns 9,863 shares of the real estate investment trust’s stock worth $2,180,000 after buying an additional 619 shares during the period. Institutional investors and hedge funds own 92.69% of the company’s stock.

American Tower Price Performance

AMT stock opened at $183.03 on Tuesday. The firm has a 50 day moving average of $198.16 and a 200-day moving average of $210.57. American Tower Corporation has a 12-month low of $172.51 and a 12-month high of $234.33. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 3.36. The company has a market cap of $85.70 billion, a price-to-earnings ratio of 66.56, a PEG ratio of 1.13 and a beta of 0.86.

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

American Tower Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 20th. Stockholders of record on Tuesday, September 30th will be paid a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date of this dividend is Tuesday, September 30th. American Tower’s dividend payout ratio (DPR) is 247.27%.

Insider Buying and Selling at American Tower

In other news, CEO Juan Font sold 720 shares of the firm’s stock in a transaction that occurred on Thursday, July 31st. The shares were sold at an average price of $208.33, for a total transaction of $149,997.60. Following the completion of the transaction, the chief executive officer directly owned 23,425 shares of the company’s stock, 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 SEC, which is available at this hyperlink. 0.18% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on AMT shares. Wells Fargo & Company reduced their price objective on shares of American Tower from $240.00 to $230.00 and set an “overweight” rating for the company in a research report on Wednesday, July 30th. Barclays raised their price objective on shares of American Tower from $246.00 to $250.00 and gave the company an “overweight” rating in a research report on Monday, August 18th. BMO Capital Markets restated an “outperform” rating and issued a $245.00 price objective (down previously from $250.00) on shares of American Tower in a research report on Wednesday, July 30th. Hsbc Global Res downgraded shares of American Tower from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 30th. Finally, HSBC downgraded shares of American Tower from a “buy” rating to a “hold” rating and set a $235.00 price objective for the company. in a research report on Wednesday, July 30th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $241.06.

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.