Shum Financial Group Inc. Makes New Investment in American Tower Corporation $AMT

Shum Financial Group Inc. acquired a new position in shares of American Tower Corporation (NYSE:AMT) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 3,796 shares of the real estate investment trust’s stock, valued at approximately $730,000.

A number of other institutional investors also recently modified their holdings of the stock. Brighton Jones LLC boosted its position in shares of American Tower by 113.0% during the 4th quarter. Brighton Jones LLC now owns 3,966 shares of the real estate investment trust’s stock worth $727,000 after purchasing an additional 2,104 shares in the last quarter. Vident Advisory LLC raised its stake in American Tower by 111.6% during the 1st quarter. Vident Advisory LLC now owns 9,757 shares of the real estate investment trust’s stock worth $2,123,000 after buying an additional 5,146 shares during the period. OLD Mission Capital LLC bought a new position in American Tower in the first quarter worth approximately $589,000. Flputnam Investment Management Co. grew its stake in American Tower by 5.8% in the first quarter. Flputnam Investment Management Co. now owns 9,909 shares of the real estate investment trust’s stock valued at $2,156,000 after acquiring an additional 546 shares during the period. Finally, Federation des caisses Desjardins du Quebec increased its holdings in shares of American Tower by 27.1% during the first quarter. Federation des caisses Desjardins du Quebec now owns 147,856 shares of the real estate investment trust’s stock valued at $32,175,000 after acquiring an additional 31,527 shares in the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

American Tower Price Performance

Shares of NYSE AMT opened at $176.69 on Wednesday. American Tower Corporation has a fifty-two week low of $170.77 and a fifty-two week high of $234.33. The stock has a fifty day moving average of $179.89 and a 200-day moving average of $197.07. The company has a debt-to-equity ratio of 3.24, a quick ratio of 0.89 and a current ratio of 0.89. The stock has a market cap of $82.72 billion, a PE ratio of 28.23, a price-to-earnings-growth ratio of 0.70 and a beta of 0.91.

American Tower (NYSE:AMT) last issued its quarterly earnings data 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 net margin of 28.11% and a return on equity of 28.79%. The company had revenue of $2.72 billion during the quarter, compared to analysts’ expectations of $2.65 billion. During the same quarter in the previous year, the company earned $2.52 earnings per share. American Tower’s revenue for the quarter was up 7.7% on a year-over-year basis. American Tower has set its FY 2025 guidance at 10.600-10.720 EPS. Equities research analysts anticipate that American Tower Corporation will post 10.14 earnings per share for the current year.

American Tower Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 2nd. Investors of record on Monday, December 29th will be given a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date is Monday, December 29th. American Tower’s dividend payout ratio (DPR) is 108.63%.

Analyst Ratings Changes

A number of analysts have commented on AMT shares. Jefferies Financial Group decreased their price target on shares of American Tower from $226.00 to $202.00 and set a “buy” rating for the company in a research note on Tuesday, December 16th. Royal Bank Of Canada reissued a “sector perform” rating and set a $220.00 target price on shares of American Tower in a research report on Friday, December 19th. The Goldman Sachs Group lowered their price target on shares of American Tower from $250.00 to $230.00 and set a “buy” rating on the stock in a report on Wednesday, October 29th. Weiss Ratings reissued a “hold (c)” rating on shares of American Tower in a report on Monday. Finally, Argus set a $210.00 target price on American Tower in a research note on Thursday, October 30th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $226.67.

Insider Buying and Selling at American Tower

In related news, major shareholder Tower Corp /Ma/ American sold 2,288,621 shares of the business’s stock in a transaction dated 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 transaction, the insider directly owned 211,379 shares in the company, valued at $14,743,685.25. The trade was a 91.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Eugene F. Reilly bought 5,554 shares of the firm’s stock in a transaction on 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 completion of the purchase, the director directly owned 5,689 shares in the company, valued at approximately $1,018,274.11. The trade was a 4,114.07% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 0.18% of the stock is currently owned by company insiders.

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.