Carrera Capital Advisors Invests $3.62 Million in American Tower Corporation $AMT

Carrera Capital Advisors bought a new position in American Tower Corporation (NYSE:AMT) in the second quarter, HoldingsChannel reports. The firm bought 16,249 shares of the real estate investment trust’s stock, valued at approximately $3,618,000. American Tower accounts for 0.7% of Carrera Capital Advisors’ holdings, making the stock its 29th largest holding.

A number of other institutional investors and hedge funds have also recently modified their holdings of AMT. North Capital Inc. purchased a new position in shares of American Tower in the 1st quarter worth approximately $25,000. Hopwood Financial Services Inc. boosted its holdings 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 worth $26,000 after purchasing an additional 60 shares during the period. Rosenberg Matthew Hamilton boosted its holdings 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 worth $38,000 after purchasing an additional 80 shares during the period. Saudi Central Bank purchased a new position in shares of American Tower in the 1st quarter worth approximately $40,000. Finally, Accredited Wealth Management LLC boosted its holdings 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 worth $46,000 after purchasing an additional 135 shares during the period. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Raymond James Financial set a $250.00 target price on American Tower and gave the stock a “strong-buy” rating in a research note on Wednesday, July 30th. Hsbc Global Res lowered American Tower from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 30th. BMO Capital Markets reduced their target price on American Tower from $245.00 to $220.00 and set an “outperform” rating on the stock in a research note on Friday, October 17th. UBS Group increased their price target on American Tower from $250.00 to $260.00 and gave the stock a “buy” rating in a research report on Tuesday, July 8th. Finally, Wells Fargo & Company dropped their price target on American Tower from $230.00 to $210.00 and set an “overweight” rating on the stock in a research report on Monday. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $236.75.

Insider Buying and Selling

In related 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 sale, 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.17% of the stock is currently owned by company insiders.

American Tower Stock Performance

Shares of AMT opened at $191.36 on Friday. The stock has a fifty day moving average price of $195.30 and a 200-day moving average price of $209.02. American Tower Corporation has a 12 month low of $172.51 and a 12 month high of $234.33. The firm has a market cap of $89.60 billion, a PE ratio of 69.58, a P/E/G ratio of 1.15 and a beta of 0.86. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 3.36.

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

American Tower Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, October 20th. Stockholders of record on Tuesday, September 30th were issued a $1.70 dividend. The ex-dividend date of this dividend was 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 is currently 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.