Exchange Traded Concepts LLC Purchases 64,807 Shares of American Tower Corporation $AMT

Exchange Traded Concepts LLC raised its position in American Tower Corporation (NYSE:AMT) by 95.5% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 132,680 shares of the real estate investment trust’s stock after acquiring an additional 64,807 shares during the quarter. Exchange Traded Concepts LLC’s holdings in American Tower were worth $25,517,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Norges Bank purchased a new position in shares of American Tower in the second quarter worth approximately $1,371,875,000. JPMorgan Chase & Co. raised its position in American Tower by 24.3% in the second quarter. JPMorgan Chase & Co. now owns 12,666,082 shares of the real estate investment trust’s stock worth $2,799,458,000 after acquiring an additional 2,474,328 shares during the period. Viking Global Investors LP raised its position in American Tower by 233.5% in the second quarter. Viking Global Investors LP now owns 2,797,125 shares of the real estate investment trust’s stock worth $618,221,000 after acquiring an additional 1,958,329 shares during the period. Alyeska Investment Group L.P. purchased a new position in shares of American Tower during the 1st quarter worth $162,127,000. Finally, Amundi grew its position in shares of American Tower by 35.5% during the 1st quarter. Amundi now owns 2,838,421 shares of the real estate investment trust’s stock valued at $645,694,000 after acquiring an additional 743,617 shares during the period. 92.69% of the stock is owned by hedge funds and other institutional investors.

American Tower Stock Performance

NYSE AMT opened at $172.35 on Monday. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 3.24. American Tower Corporation has a twelve month low of $171.95 and a twelve month high of $234.33. The business has a 50-day moving average price of $181.93 and a 200-day moving average price of $199.03. The firm has a market cap of $80.69 billion, a price-to-earnings ratio of 27.53, a price-to-earnings-growth ratio of 0.69 and a beta of 0.91.

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, topping analysts’ consensus estimates of $2.64 by $0.14. American Tower had a return on equity of 28.79% and a net margin of 28.11%.The company had revenue of $2.72 billion for the quarter, compared to analysts’ expectations of $2.65 billion. During the same period in the previous year, the firm earned $2.52 EPS. The firm’s 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. As a group, equities research analysts predict that American Tower Corporation will post 10.14 EPS for the current fiscal year.

American Tower Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, February 2nd. Investors of record on Monday, December 29th will be paid a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a yield of 3.9%. The ex-dividend date of this dividend is Monday, December 29th. American Tower’s dividend payout ratio (DPR) is presently 108.63%.

Insiders Place Their Bets

In related news, Director Eugene F. Reilly purchased 5,554 shares of American Tower stock in a transaction on Friday, October 31st. The shares were bought at an average cost of $178.99 per share, for a total transaction of $994,110.46. Following the acquisition, 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 the 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 transaction, the insider directly 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. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.17% of the company’s stock.

Analysts Set New Price Targets

AMT has been the topic of several analyst reports. Royal Bank Of Canada reiterated a “sector perform” rating and set a $220.00 target price on shares of American Tower in a research report on Friday. Jefferies Financial Group decreased their price objective on American Tower from $226.00 to $202.00 and set a “buy” rating on the stock in a research note on Tuesday, December 16th. Citigroup reaffirmed a “market outperform” rating on shares of American Tower in a research report on Wednesday, October 29th. Morgan Stanley reduced their target price on shares of American Tower from $255.00 to $235.00 and set an “overweight” rating for the company in a report on Thursday, December 4th. Finally, Wall Street Zen upgraded shares of American Tower from a “sell” rating to a “hold” rating in a research note on Sunday, October 12th. Two research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat, American Tower presently has a consensus rating of “Moderate Buy” and a consensus target price of $226.67.

About American Tower

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.