HB Wealth Management LLC Increases Stock Holdings in American Tower Corporation $AMT

HB Wealth Management LLC grew its holdings in shares of American Tower Corporation (NYSE:AMT) by 14.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 44,739 shares of the real estate investment trust’s stock after purchasing an additional 5,764 shares during the period. HB Wealth Management LLC’s holdings in American Tower were worth $8,604,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in AMT. Vanguard Group Inc. increased its stake in American Tower by 0.3% during the 2nd quarter. Vanguard Group Inc. now owns 63,028,367 shares of the real estate investment trust’s stock worth $13,930,530,000 after buying an additional 218,881 shares during the period. JPMorgan Chase & Co. grew its stake in shares of American Tower by 24.3% in the second quarter. JPMorgan Chase & Co. now owns 12,666,082 shares of the real estate investment trust’s stock worth $2,799,458,000 after acquiring an additional 2,474,328 shares in the last quarter. Invesco Ltd. grew its stake in shares of American Tower by 11.9% in the second quarter. Invesco Ltd. now owns 6,680,524 shares of the real estate investment trust’s stock worth $1,476,529,000 after acquiring an additional 708,808 shares in the last quarter. Norges Bank purchased a new stake in shares of American Tower during the second quarter worth $1,371,875,000. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of American Tower by 3.9% in the second quarter. Charles Schwab Investment Management Inc. now owns 5,563,565 shares of the real estate investment trust’s stock valued at $1,229,659,000 after acquiring an additional 208,213 shares in the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

American Tower Trading Up 0.5%

NYSE:AMT opened at $170.23 on Friday. The company has a market capitalization of $79.69 billion, a PE ratio of 27.19, a P/E/G ratio of 0.65 and a beta of 0.92. American Tower Corporation has a 52-week low of $168.34 and a 52-week high of $234.33. The stock’s 50 day moving average price is $178.16 and its 200 day moving average price is $195.30. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 3.24.

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. The business had revenue of $2.72 billion during the quarter, compared to the consensus estimate of $2.65 billion. American Tower had a return on equity of 28.79% and a net margin of 28.11%.The company’s revenue was up 7.7% compared to the same quarter last year. During the same period in the prior year, the company earned $2.52 earnings per share. American Tower has set its FY 2025 guidance at 10.600-10.720 EPS. On average, research analysts anticipate that American Tower Corporation will post 10.14 EPS for the current year.

American Tower Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 2nd. Shareholders of record on Monday, December 29th will be paid a $1.70 dividend. The ex-dividend date is Monday, December 29th. This represents a $6.80 dividend on an annualized basis and a yield of 4.0%. American Tower’s payout ratio is currently 108.63%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on AMT shares. Barclays restated an “equal weight” rating and set a $200.00 price target (down previously from $203.00) on shares of American Tower in a report on Monday, December 1st. BMO Capital Markets cut their target price on shares of American Tower from $215.00 to $210.00 and set an “outperform” rating on the stock in a research note on Wednesday, December 3rd. Jefferies Financial Group reduced their target price on shares of American Tower from $226.00 to $202.00 and set a “buy” rating on the stock in a report on Tuesday, December 16th. Raymond James Financial reiterated a “strong-buy” rating and set a $231.00 price target (down previously from $250.00) on shares of American Tower in a report on Wednesday, October 29th. Finally, Citigroup restated a “market outperform” rating on shares of American Tower in a report on Wednesday, October 29th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $226.61.

Insider Transactions at American Tower

In related news, Director Eugene F. Reilly acquired 5,554 shares of the firm’s stock in a transaction on Friday, October 31st. The stock was bought at an average cost of $178.99 per share, with a total value of $994,110.46. Following the transaction, the director owned 5,689 shares of the company’s stock, valued at $1,018,274.11. The trade was a 4,114.07% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, major shareholder Tower Corp /Ma/ American sold 2,288,621 shares of American Tower stock in a transaction that occurred on Tuesday, December 9th. The shares were sold at an average price of $69.75, for a total value of $159,631,314.75. Following the completion of the transaction, the insider owned 211,379 shares in the company, valued at $14,743,685.25. This trade represents a 91.54% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.17% of the stock is currently owned by corporate insiders.

American Tower Profile

American Tower (NYSE: AMT) is a real estate investment trust (REIT) that owns, operates and develops wireless and broadcast communications infrastructure. The company’s core business is leasing space on communications sites — including towers, rooftops and other structures — to wireless carriers, broadcasters, government agencies and enterprise customers. Its business model centers on long-term site leases and contracts that provide recurring revenue tied to the footprint and density of wireless networks.

Beyond traditional tower assets, American Tower offers a range of infrastructure and network services to support mobile, broadband and broadcast connectivity.