American Tower Corporation $AMT Shares Bought by Perpetual Ltd

Perpetual Ltd raised its position in American Tower Corporation (NYSE:AMT) by 1,833.4% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 189,586 shares of the real estate investment trust’s stock after purchasing an additional 179,780 shares during the period. Perpetual Ltd’s holdings in American Tower were worth $36,461,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also modified their holdings of AMT. Focus Financial Network Inc. lifted its stake in American Tower by 9.1% during the second quarter. Focus Financial Network Inc. now owns 2,042 shares of the real estate investment trust’s stock worth $451,000 after purchasing an additional 170 shares during the last quarter. Resolution Capital Ltd acquired a new stake in American Tower during the first quarter worth approximately $72,706,000. Stack Financial Management Inc acquired a new stake in American Tower during the second quarter worth approximately $13,020,000. Los Angeles Capital Management LLC lifted its position in shares of American Tower by 52.5% during the 2nd quarter. Los Angeles Capital Management LLC now owns 321,661 shares of the real estate investment trust’s stock worth $71,094,000 after buying an additional 110,671 shares during the last quarter. Finally, First Trust Advisors LP boosted its holdings in shares of American Tower by 47.3% in the 2nd quarter. First Trust Advisors LP now owns 109,124 shares of the real estate investment trust’s stock valued at $24,119,000 after buying an additional 35,037 shares in the last quarter. 92.69% of the stock is owned by hedge funds and other institutional investors.

American Tower Stock Down 1.1%

AMT stock opened at $172.35 on Friday. The stock has a market capitalization of $80.69 billion, a PE ratio of 27.53, a price-to-earnings-growth ratio of 0.70 and a beta of 0.91. The company has a fifty day moving average of $181.93 and a 200-day moving average of $199.24. The company has a debt-to-equity ratio of 3.24, a quick ratio of 0.89 and a current ratio of 0.89. American Tower Corporation has a one year low of $171.95 and a one year high of $234.33.

American Tower (NYSE:AMT) last issued its quarterly earnings results on Tuesday, October 28th. The real estate investment trust reported $2.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.64 by $0.14. The business had revenue of $2.72 billion for the quarter, compared to analyst estimates of $2.65 billion. American Tower had a net margin of 28.11% and a return on equity of 28.79%. The business’s revenue was up 7.7% compared to the same quarter last year. During the same period in the previous year, the business posted $2.52 earnings per share. American Tower has set its FY 2025 guidance at 10.600-10.720 EPS. As a group, analysts expect that American Tower Corporation will post 10.14 EPS for the current year.

American Tower Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 2nd. Stockholders of record on Monday, December 29th will be paid a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date of this dividend is Monday, December 29th. American Tower’s dividend payout ratio is 108.63%.

Insider Activity at American Tower

In other American Tower news, Director Eugene F. Reilly purchased 5,554 shares of the firm’s stock in a transaction that occurred on Friday, October 31st. The shares were purchased at an average cost of $178.99 per share, for a total transaction 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 acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Tower Corp /Ma/ American sold 2,288,621 shares of the company’s stock in a transaction on Tuesday, December 9th. The stock was sold at an average price of $69.75, for a total value of $159,631,314.75. Following the transaction, the insider directly owned 211,379 shares in the company, valued at $14,743,685.25. This represents a 91.54% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.17% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

AMT has been the topic of several research analyst reports. Argus set a $210.00 price target on shares of American Tower in a research note on Thursday, October 30th. Jefferies Financial Group dropped their price objective on American Tower from $226.00 to $202.00 and set a “buy” rating on the stock in a report on Tuesday. The Goldman Sachs Group reduced their target price on American Tower from $250.00 to $230.00 and set a “buy” rating for the company in a report on Wednesday, October 29th. Weiss Ratings reissued a “hold (c)” rating on shares of American Tower in a research report on Monday. Finally, Citigroup restated a “market outperform” rating on shares of American Tower in a research note on Wednesday, October 29th. Two research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $226.67.

American Tower Company 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.