TIAA Trust National Association Has $2.26 Million Stake in American Tower Corporation $AMT

TIAA Trust National Association decreased its holdings in shares of American Tower Corporation (NYSE:AMT) by 5.3% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 10,222 shares of the real estate investment trust’s stock after selling 571 shares during the period. TIAA Trust National Association’s holdings in American Tower were worth $2,259,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Brighton Jones LLC raised its position in shares of American Tower by 113.0% in the 4th quarter. Brighton Jones LLC now owns 3,966 shares of the real estate investment trust’s stock valued at $727,000 after acquiring an additional 2,104 shares during the period. Golden State Wealth Management LLC raised its position in shares of American Tower by 23.0% in the 1st quarter. Golden State Wealth Management LLC now owns 369 shares of the real estate investment trust’s stock valued at $80,000 after acquiring an additional 69 shares during the period. Mutual Advisors LLC raised its position in shares of American Tower by 1.4% in the 1st quarter. Mutual Advisors LLC now owns 4,263 shares of the real estate investment trust’s stock valued at $899,000 after acquiring an additional 57 shares during the period. Envestnet Asset Management Inc. raised its position in shares of American Tower by 3.2% in the 1st quarter. Envestnet Asset Management Inc. now owns 759,877 shares of the real estate investment trust’s stock valued at $165,349,000 after acquiring an additional 23,407 shares during the period. Finally, Callan Capital LLC acquired a new stake in shares of American Tower in the 1st quarter valued at approximately $232,000. Institutional investors and hedge funds own 92.69% of the company’s stock.

American Tower Stock Performance

Shares of AMT stock opened at $177.00 on Tuesday. The company’s fifty day simple moving average is $192.02 and its 200-day simple moving average is $207.59. The company has a quick ratio of 0.95, a current ratio of 0.89 and a debt-to-equity ratio of 3.24. The firm has a market cap of $82.88 billion, a PE ratio of 28.28, a P/E/G ratio of 1.08 and a beta of 0.86. American Tower Corporation has a 12 month low of $172.51 and a 12 month 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 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 firm had revenue of $2.72 billion during the quarter, compared to analysts’ expectations of $2.65 billion. During the same period in the prior year, the firm posted $2.52 earnings per share. The business’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. Equities research analysts expect that American Tower Corporation will post 10.14 EPS for the current fiscal year.

American Tower Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, October 20th. Stockholders of record on Tuesday, September 30th were paid a dividend of $1.70 per share. The ex-dividend date was Tuesday, September 30th. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.8%. American Tower’s dividend payout ratio is currently 108.63%.

Analyst Ratings Changes

A number of brokerages recently weighed in on AMT. Raymond James Financial reiterated a “strong-buy” rating and issued a $231.00 price target (down from $250.00) on shares of American Tower in a research report on Wednesday, October 29th. JPMorgan Chase & Co. lowered their target price on American Tower from $255.00 to $250.00 and set an “overweight” rating for the company in a research note on Wednesday, October 29th. Jefferies Financial Group lowered their target price on American Tower from $281.00 to $226.00 and set a “buy” rating for the company in a research note on Monday, October 13th. HSBC lowered their target price on American Tower from $235.00 to $205.00 in a research note on Wednesday, October 29th. Finally, BMO Capital Markets reduced their target price on shares of American Tower from $220.00 to $215.00 and set an “outperform” rating for the company in a research note on Wednesday, October 29th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $231.11.

American Tower Company Profile

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.