Focus Financial Network Inc. Has $451,000 Stock Position in American Tower Corporation $AMT

Focus Financial Network Inc. lifted its stake in American Tower Corporation (NYSE:AMT) by 9.1% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 2,042 shares of the real estate investment trust’s stock after purchasing an additional 170 shares during the quarter. Focus Financial Network Inc.’s holdings in American Tower were worth $451,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Resolution Capital Ltd purchased a new stake in American Tower in the 1st quarter worth about $72,706,000. Golden State Wealth Management LLC raised its stake in shares of American Tower by 23.0% during the 1st quarter. Golden State Wealth Management LLC now owns 369 shares of the real estate investment trust’s stock worth $80,000 after purchasing an additional 69 shares in the last quarter. Shum Financial Group Inc. raised its stake in shares of American Tower by 3.5% during the 1st quarter. Shum Financial Group Inc. now owns 4,196 shares of the real estate investment trust’s stock worth $913,000 after purchasing an additional 141 shares in the last quarter. Kovitz Investment Group Partners LLC raised its stake in shares of American Tower by 126.0% during the 1st quarter. Kovitz Investment Group Partners LLC now owns 97,495 shares of the real estate investment trust’s stock worth $21,215,000 after purchasing an additional 54,360 shares in the last quarter. Finally, AEGON ASSET MANAGEMENT UK Plc raised its stake in shares of American Tower by 13.3% during the 1st quarter. AEGON ASSET MANAGEMENT UK Plc now owns 231,913 shares of the real estate investment trust’s stock worth $50,487,000 after purchasing an additional 27,194 shares in the last quarter. 92.69% of the stock is owned by hedge funds and other institutional investors.

American Tower Trading Up 0.1%

Shares of AMT stock opened at $193.29 on Friday. American Tower Corporation has a fifty-two week low of $172.51 and a fifty-two week high of $238.34. The company has a market cap of $90.51 billion, a PE ratio of 70.29, a P/E/G ratio of 1.19 and a beta of 0.86. The company has a debt-to-equity ratio of 3.36, a quick ratio of 0.95 and a current ratio of 0.95. The stock’s fifty day moving average price is $208.18 and its two-hundred day moving average price is $213.00.

American Tower (NYSE:AMT) last announced 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 company had revenue of $2.63 billion during 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%.American Tower’s revenue was down 9.4% compared to the same quarter last year. During the same period in the prior year, the company earned $2.79 EPS. American Tower has set its FY 2025 guidance at 10.460-10.650 EPS. Equities analysts predict that American Tower Corporation will post 10.14 EPS for the current fiscal year.

American Tower Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, October 20th. Shareholders of record on Tuesday, September 30th will be paid 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 yield of 3.5%. American Tower’s payout ratio is 247.27%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on AMT. Raymond James Financial set a $250.00 price target on American Tower and gave the stock a “strong-buy” rating in a research note on Wednesday, July 30th. Royal Bank Of Canada raised their price objective on American Tower from $250.00 to $260.00 and gave the company an “outperform” rating in a research note on Thursday, July 31st. Barclays raised their price objective on American Tower from $246.00 to $250.00 and gave the company an “overweight” rating in a research note on Monday, August 18th. The Goldman Sachs Group reissued a “buy” rating on shares of American Tower in a research note on Tuesday, July 29th. Finally, UBS Group raised their price objective on American Tower from $250.00 to $260.00 and gave the company a “buy” rating in a research note on Tuesday, July 8th. Two research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, American Tower currently has an average rating of “Moderate Buy” and a consensus target price of $244.73.

Insider Buying and Selling at American Tower

In other news, CEO Juan Font sold 720 shares of the business’s stock in a transaction that occurred on Thursday, July 31st. The stock was sold at an average price of $208.33, for a total value of $149,997.60. Following the transaction, the chief executive officer owned 23,425 shares in the company, valued at $4,880,130.25. The trade was a 2.98% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.17% of the stock is 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.