Rosenberg Matthew Hamilton Grows Stock Position in American Tower Corporation $AMT

Rosenberg Matthew Hamilton lifted its stake in American Tower Corporation (NYSE:AMT) by 86.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 173 shares of the real estate investment trust’s stock after buying an additional 80 shares during the period. Rosenberg Matthew Hamilton’s holdings in American Tower were worth $38,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Blossom Wealth Management lifted its holdings 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 valued at $575,000 after buying an additional 45 shares during the period. TFG Advisers LLC lifted its holdings in shares of American Tower by 0.3% during the 2nd quarter. TFG Advisers LLC now owns 16,186 shares of the real estate investment trust’s stock valued at $3,578,000 after buying an additional 47 shares during the period. Novem Group lifted its holdings in shares of American Tower by 3.8% during the 2nd quarter. Novem Group now owns 1,316 shares of the real estate investment trust’s stock valued at $291,000 after buying an additional 48 shares during the period. Cypress Wealth Services LLC lifted its holdings in shares of American Tower by 1.9% during the 2nd quarter. Cypress Wealth Services LLC now owns 2,684 shares of the real estate investment trust’s stock valued at $593,000 after buying an additional 49 shares during the period. Finally, Elmwood Wealth Management Inc. lifted its holdings in shares of American Tower by 2.5% during the 1st quarter. Elmwood Wealth Management Inc. now owns 2,087 shares of the real estate investment trust’s stock valued at $454,000 after buying an additional 50 shares during the period. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on AMT shares. UBS Group raised their target price on American Tower from $250.00 to $260.00 and gave the stock a “buy” rating in a report on Tuesday, July 8th. Citigroup decreased their target price on American Tower from $250.00 to $225.00 and set a “buy” rating on the stock in a report on Thursday. Barclays raised their target price on American Tower from $246.00 to $250.00 and gave the stock an “overweight” rating in a report on Monday, August 18th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of American Tower in a report on Wednesday, October 8th. Finally, Jefferies Financial Group decreased their target price on American Tower from $281.00 to $226.00 and set a “buy” rating on the stock in a report on Monday. Two equities research 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 data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $239.50.

American Tower Price Performance

NYSE:AMT opened at $191.44 on Friday. 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 business’s 50-day simple moving average is $196.93 and its two-hundred day simple moving average is $210.08. The stock has a market cap of $89.64 billion, a PE ratio of 69.61, a P/E/G ratio of 1.15 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 posted its quarterly earnings results on Tuesday, July 29th. The real estate investment trust reported $2.60 EPS for the quarter, beating analysts’ consensus estimates of $2.59 by $0.01. The business had revenue of $2.63 billion for 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 business’s quarterly revenue was down 9.4% on a year-over-year basis. During the same period last year, the firm earned $2.79 earnings per share. American Tower has set its FY 2025 guidance at 10.460-10.650 EPS. As a group, analysts forecast that American Tower Corporation will post 10.14 EPS for the current fiscal year.

American Tower Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 20th. Stockholders of record on Tuesday, September 30th will be given a dividend of $1.70 per share. The ex-dividend date is Tuesday, September 30th. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.6%. American Tower’s dividend payout ratio (DPR) is presently 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 dated Thursday, July 31st. The stock was 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 owned 23,425 shares in the company, valued at $4,880,130.25. This trade represents a 2.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.17% of the stock is currently owned by insiders.

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.