B. Riley Wealth Advisors Inc. Makes New Investment in American Tower Corporation $AMT

B. Riley Wealth Advisors Inc. bought a new stake in American Tower Corporation (NYSE:AMT) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 5,046 shares of the real estate investment trust’s stock, valued at approximately $1,115,000.

A number of other hedge funds have also recently added to or reduced their stakes in AMT. Brighton Jones LLC raised its holdings in American Tower by 113.0% during the fourth quarter. Brighton Jones LLC now owns 3,966 shares of the real estate investment trust’s stock worth $727,000 after buying an additional 2,104 shares during the last quarter. Corient IA LLC acquired a new stake in shares of American Tower in the 1st quarter worth about $218,000. Brooklyn Investment Group raised its holdings in shares of American Tower by 19.2% in the 1st quarter. Brooklyn Investment Group now owns 4,746 shares of the real estate investment trust’s stock worth $1,033,000 after acquiring an additional 764 shares during the last quarter. Northern Trust Corp lifted its position in American Tower by 2.1% in the 1st quarter. Northern Trust Corp now owns 5,643,399 shares of the real estate investment trust’s stock valued at $1,228,004,000 after acquiring an additional 118,219 shares in the last quarter. Finally, Aptus Capital Advisors LLC increased its holdings in American Tower by 12.0% during the 1st quarter. Aptus Capital Advisors LLC now owns 69,231 shares of the real estate investment trust’s stock worth $15,065,000 after purchasing an additional 7,422 shares in the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

American Tower Price Performance

AMT stock opened at $180.27 on Tuesday. The firm has a 50 day moving average of $182.72 and a 200-day moving average of $200.10. The firm has a market capitalization of $84.39 billion, a P/E ratio of 28.80, a price-to-earnings-growth ratio of 0.72 and a beta of 0.91. 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 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 3.24.

American Tower (NYSE:AMT) last issued its quarterly earnings results on Tuesday, October 28th. The real estate investment trust reported $2.78 EPS for the quarter, topping analysts’ consensus estimates of $2.64 by $0.14. American Tower had a net margin of 28.11% and a return on equity of 28.79%. The firm had revenue of $2.72 billion for the quarter, compared to analyst estimates of $2.65 billion. During the same quarter in the prior year, the firm earned $2.52 EPS. The business’s revenue for the quarter was up 7.7% compared to the same quarter last year. American Tower has set its FY 2025 guidance at 10.600-10.720 EPS. As a group, sell-side 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 will be paid on Monday, February 2nd. Stockholders of record on Monday, December 29th will be given a dividend of $1.70 per share. The ex-dividend date is Monday, December 29th. This represents a $6.80 annualized dividend and a dividend yield of 3.8%. American Tower’s dividend payout ratio is 108.63%.

Insider Transactions at American Tower

In other news, Director Eugene F. Reilly bought 5,554 shares of the business’s stock in a transaction on Friday, October 31st. The stock was acquired at an average price of $178.99 per share, with a total value of $994,110.46. Following the completion of the purchase, the director directly owned 5,689 shares in the company, valued at $1,018,274.11. This represents a 4,114.07% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, major shareholder Tower Corp /Ma/ American sold 2,288,621 shares of the business’s stock in a transaction that occurred on Tuesday, December 9th. The stock was sold at an average price of $69.75, for a total transaction of $159,631,314.75. Following the completion of the sale, the insider owned 211,379 shares of the company’s stock, valued at approximately $14,743,685.25. The trade was a 91.54% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 0.17% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on AMT shares. Morgan Stanley cut their target price on American Tower from $255.00 to $235.00 and set an “overweight” rating on the stock in a research report on Thursday, December 4th. Wells Fargo & Company cut their price objective on shares of American Tower from $210.00 to $200.00 and set an “overweight” rating on the stock in a report on Wednesday, October 29th. HSBC dropped their price target on shares of American Tower from $235.00 to $205.00 in a research report on Wednesday, October 29th. Weiss Ratings reiterated a “hold (c)” rating on shares of American Tower in a research note on Monday, December 8th. Finally, Argus set a $210.00 target price on shares of American Tower in a research report on Thursday, October 30th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $228.00.

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.