Blue Door Asset Management LLC Invests $3.27 Million in American Tower Corporation $AMT

Blue Door Asset Management LLC bought a new position in shares of American Tower Corporation (NYSE:AMT) in the second quarter, according to the company in its most recent filing with the SEC. The fund bought 14,800 shares of the real estate investment trust’s stock, valued at approximately $3,271,000. American Tower accounts for 1.7% of Blue Door Asset Management LLC’s investment portfolio, making the stock its 14th biggest position.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Legacy Investment Solutions LLC acquired a new position in American Tower during the second quarter valued at approximately $31,000. VSM Wealth Advisory LLC lifted its holdings in shares of American Tower by 136.4% during the 2nd quarter. VSM Wealth Advisory LLC now owns 156 shares of the real estate investment trust’s stock valued at $34,000 after acquiring an additional 90 shares in the last quarter. Rosenberg Matthew Hamilton boosted its position in American Tower by 86.0% during the 2nd quarter. Rosenberg Matthew Hamilton now owns 173 shares of the real estate investment trust’s stock worth $38,000 after purchasing an additional 80 shares during the period. Saudi Central Bank acquired a new stake in American Tower in the 1st quarter valued at $40,000. Finally, Winnow Wealth LLC purchased a new position in American Tower in the second quarter valued at about $44,000. Institutional investors and hedge funds own 92.69% of the company’s stock.

Insider Buying and Selling

In other news, Director Eugene F. Reilly bought 5,554 shares of the firm’s stock in a transaction dated Friday, October 31st. The stock was bought at an average price of $178.99 per share, for a total transaction of $994,110.46. Following the transaction, the director owned 5,689 shares in the company, valued at $1,018,274.11. The trade was a 4,114.07% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this link. 0.17% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages have recently weighed in on AMT. JPMorgan Chase & Co. decreased their target price on American Tower from $255.00 to $250.00 and set an “overweight” rating for the company in a research report on Wednesday, October 29th. BMO Capital Markets reduced their price target on American Tower from $215.00 to $210.00 and set an “outperform” rating on the stock in a research report on Wednesday, December 3rd. The Goldman Sachs Group lowered their price objective on shares of American Tower from $250.00 to $230.00 and set a “buy” rating for the company in a research report on Wednesday, October 29th. Wells Fargo & Company dropped their price objective on shares of American Tower from $210.00 to $200.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 29th. Finally, Morgan Stanley decreased their target price on shares of American Tower from $255.00 to $235.00 and set an “overweight” rating for the company in a research note on Thursday, December 4th. Two 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 company’s stock. According to data from MarketBeat, American Tower currently has an average rating of “Moderate Buy” and a consensus price target of $228.00.

American Tower Trading Up 0.4%

AMT opened at $180.19 on Thursday. American Tower Corporation has a 12-month low of $172.51 and a 12-month high of $234.33. The company has a debt-to-equity ratio of 3.24, a current ratio of 0.89 and a quick ratio of 0.89. The stock has a market capitalization of $84.35 billion, a PE ratio of 28.78, a P/E/G ratio of 0.72 and a beta of 0.91. The firm’s fifty day moving average price is $183.20 and its 200 day moving average price is $200.86.

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

American Tower Announces Dividend

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

American Tower 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.