Bamco Inc. NY Trims Stake in American Tower Corporation $AMT

Bamco Inc. NY reduced its position in American Tower Corporation (NYSE:AMT) by 18.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 567,767 shares of the real estate investment trust’s stock after selling 131,909 shares during the period. Bamco Inc. NY owned about 0.12% of American Tower worth $125,488,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the business. Vanguard Group Inc. grew its stake in American Tower by 0.3% in the 2nd quarter. Vanguard Group Inc. now owns 63,028,367 shares of the real estate investment trust’s stock valued at $13,930,530,000 after acquiring an additional 218,881 shares during the period. JPMorgan Chase & Co. raised its holdings in American Tower by 24.3% in the 2nd quarter. JPMorgan Chase & Co. now owns 12,666,082 shares of the real estate investment trust’s stock valued at $2,799,458,000 after acquiring an additional 2,474,328 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in American Tower by 39.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 8,144,040 shares of the real estate investment trust’s stock worth $1,772,144,000 after buying an additional 2,309,627 shares in the last quarter. Invesco Ltd. boosted its position in shares of American Tower by 11.9% during the 2nd quarter. Invesco Ltd. now owns 6,680,524 shares of the real estate investment trust’s stock valued at $1,476,529,000 after acquiring an additional 708,808 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in American Tower by 1.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 6,534,862 shares of the real estate investment trust’s stock valued at $1,421,965,000 after purchasing an additional 88,120 shares during the last quarter. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Insider Buying and Selling

In other American Tower news, Director Eugene F. Reilly bought 5,554 shares of the business’s stock in a transaction on 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 completion of the transaction, the director owned 5,689 shares in the company, valued at approximately $1,018,274.11. The trade was 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 this hyperlink. Also, major shareholder Tower Corp /Ma/ American sold 2,288,621 shares of American Tower stock in a transaction that occurred 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 owned 211,379 shares of the company’s stock, valued at $14,743,685.25. This represents a 91.54% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.17% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

AMT has been the subject of a number of research analyst reports. TD Cowen lowered their price target on American Tower from $249.00 to $235.00 and set a “buy” rating for the company in a report on Wednesday, October 29th. Wells Fargo & Company cut their price objective on American Tower from $210.00 to $200.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 29th. Morgan Stanley decreased their price target 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. JPMorgan Chase & Co. decreased their price target on American Tower from $255.00 to $250.00 and set an “overweight” rating for the company in a report on Wednesday, October 29th. Finally, BMO Capital Markets lowered their target price on shares of American Tower from $215.00 to $210.00 and set an “outperform” rating for the company in a report on Wednesday, December 3rd. Two analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat.com, American Tower currently has a consensus rating of “Moderate Buy” and an average target price of $228.00.

American Tower Stock Down 0.4%

Shares of American Tower stock opened at $180.95 on Friday. The company has a market cap of $84.71 billion, a P/E ratio of 28.91, a PEG ratio of 0.73 and a beta of 0.91. American Tower Corporation has a one year low of $172.51 and a one year high of $234.33. The firm has a fifty day moving average of $182.83 and a two-hundred day moving average of $200.51. 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 (NYSE:AMT) last announced its quarterly earnings data on Tuesday, October 28th. The real estate investment trust reported $2.78 earnings per share for the quarter, beating analysts’ consensus estimates of $2.64 by $0.14. The company had revenue of $2.72 billion for the quarter, compared to analyst estimates of $2.65 billion. American Tower had a return on equity of 28.79% and a net margin of 28.11%.The firm’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.52 EPS. American Tower has set its FY 2025 guidance at 10.600-10.720 EPS. On average, analysts forecast that American Tower Corporation will post 10.14 earnings per share for the current year.

American Tower Announces Dividend

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

About American Tower

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.