Rakuten Investment Management Inc. Buys Shares of 66,226 American Tower Corporation $AMT

Rakuten Investment Management Inc. bought a new position in shares of American Tower Corporation (NYSE:AMT) during the 3rd quarter, HoldingsChannel.com reports. The fund bought 66,226 shares of the real estate investment trust’s stock, valued at approximately $12,737,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Universal Beteiligungs und Servicegesellschaft mbH lifted its position in shares of American Tower by 2.4% during the 3rd quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 397,438 shares of the real estate investment trust’s stock worth $76,435,000 after purchasing an additional 9,210 shares during the last quarter. Vest Financial LLC increased its position in American Tower by 23.8% during the third quarter. Vest Financial LLC now owns 54,696 shares of the real estate investment trust’s stock worth $10,519,000 after buying an additional 10,523 shares during the period. Waldron Private Wealth LLC raised its position in American Tower by 7.6% in the 3rd quarter. Waldron Private Wealth LLC now owns 5,389 shares of the real estate investment trust’s stock valued at $1,045,000 after purchasing an additional 379 shares during the last quarter. Demars Financial Group LLC acquired a new position in American Tower in the third quarter valued at $392,000. Finally, Vert Asset Management LLC raised its holdings in shares of American Tower by 10.6% in the third quarter. Vert Asset Management LLC now owns 103,122 shares of the real estate investment trust’s stock valued at $19,832,000 after buying an additional 9,872 shares during the last quarter. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Insiders Place Their Bets

In related news, Director Eugene F. Reilly purchased 5,554 shares of the business’s stock in a transaction dated Friday, October 31st. The stock was acquired at an average price of $178.99 per share, for a total transaction of $994,110.46. Following the acquisition, the director directly owned 5,689 shares of the company’s stock, valued at $1,018,274.11. This trade represents a 4,114.07% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Tower Corp /Ma/ American sold 2,288,621 shares of the firm’s stock in a transaction dated Tuesday, December 9th. The shares were 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 $14,743,685.25. This trade represents a 91.54% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.17% of the company’s stock.

Analyst Ratings Changes

AMT has been the topic of a number of research reports. Citigroup reissued a “market outperform” rating on shares of American Tower in a report on Wednesday, October 29th. UBS Group decreased their price objective on American Tower from $260.00 to $254.00 and set a “buy” rating for the company in a research report on Tuesday. Scotiabank dropped their target price on American Tower from $248.00 to $220.00 and set an “outperform” rating on the stock in a report on Wednesday, January 14th. TD Cowen cut their price target on American Tower from $249.00 to $235.00 and set a “buy” rating for the company in a research note on Wednesday, October 29th. Finally, Mizuho lowered their price objective on shares of American Tower from $217.00 to $189.00 and set a “neutral” rating on the stock in a research report on Monday, January 12th. Two analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $218.89.

American Tower Stock Performance

NYSE AMT opened at $178.14 on Thursday. The stock has a market capitalization of $83.40 billion, a price-to-earnings ratio of 28.46, a PEG ratio of 0.71 and a beta of 0.92. The business’s 50 day moving average is $177.69 and its two-hundred day moving average is $192.35. American Tower Corporation has a 12-month low of $166.88 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 posted its quarterly earnings results on Tuesday, October 28th. The real estate investment trust reported $2.78 EPS for the quarter, beating the consensus estimate of $2.64 by $0.14. American Tower had a return on equity of 28.79% and a net margin of 28.11%.The business had revenue of $2.72 billion during the quarter, compared to analysts’ expectations of $2.65 billion. During the same period last year, the firm earned $2.52 EPS. The company’s quarterly revenue 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. Research analysts expect that American Tower Corporation will post 10.14 EPS for the current year.

American Tower Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, February 2nd. Shareholders of record on Monday, December 29th will be given a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a dividend yield of 3.8%. The ex-dividend date is Monday, December 29th. American Tower’s payout ratio is presently 108.63%.

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.