BIP Wealth LLC Takes $1 Million Position in American Tower Corporation $AMT

BIP Wealth LLC bought a new stake in American Tower Corporation (NYSE:AMT – Free Report) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 6,137 shares of the real estate investment trust’s stock, valued at approximately $1,004,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Raleigh Capital Management Inc. boosted its stake in American Tower by 489.1% during the 1st quarter. Raleigh Capital Management Inc. now owns 13,703 shares of the real estate investment trust's stock worth $2,365,000 after purchasing an additional 11,377 shares during the period. Canal Capital Management LLC increased its stake in American Tower by 81.9% in the first quarter. Canal Capital Management LLC now owns 34,471 shares of the real estate investment trust's stock valued at $5,949,000 after purchasing an additional 15,520 shares during the period. Bernzott Capital Advisors raised its holdings in shares of American Tower by 29.3% in the first quarter. Bernzott Capital Advisors now owns 42,161 shares of the real estate investment trust's stock valued at $7,276,000 after buying an additional 9,556 shares during the last quarter. Legal & General Group Plc grew its holdings in shares of American Tower by 4.7% during the fourth quarter. Legal & General Group Plc now owns 4,873,695 shares of the real estate investment trust's stock worth $855,675,000 after buying an additional 220,447 shares during the last quarter. Finally, Palouse Capital Management Inc. purchased a new position in shares of American Tower during the first quarter worth about $2,396,000. 92.69% of the stock is owned by institutional investors and hedge funds.

Shares of NYSE AMT opened at $175.68 on Friday. The firm has a market cap of $81.86 billion, a P/E ratio of 24.17, a price-to-earnings-growth ratio of 2.76 and a beta of 0.90. The company has a debt-to-equity ratio of 3.12, a quick ratio of 0.52 and a current ratio of 0.52. American Tower Corporation has a 1 year low of $160.06 and a 1 year high of $214.79. The firm’s 50 day moving average price is $172.82 and its 200 day moving average price is $177.94.

American Tower Corporation last posted its quarterly earnings data on Tuesday, July 28th. The real estate investment trust reported $2.71 earnings per share for the quarter, beating the consensus estimate of $1.57 by $1.14. The company had revenue of $2.75 billion during the quarter, compared to the consensus estimate of $2.70 billion. American Tower had a return on equity of 32.76% and a net margin of 31.08%.American Tower’s revenue was up 4.6% on a year-over-year basis. During the same period in the previous year, the firm posted $2.60 EPS. American Tower has set its FY 2026 guidance at 11.000-11.170 EPS. As a group, sell-side analysts anticipate that American Tower Corporation will post 10.78 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Monday, July 13th. Shareholders of record on Friday, June 12th were issued a dividend of $1.79 per share. The ex-dividend date was Friday, June 12th. This represents a $7.16 annualized dividend and a yield of 4.1%. American Tower’s payout ratio is 98.49%.

Several analysts have commented on the company. Raymond James Financial reaffirmed a “strong-buy” rating and set a $240.00 price objective on shares of American Tower in a research note on Wednesday, April 29th. Scotiabank restated an “outperform” rating on shares of American Tower...