American Tower Corporation $AMT Shares Purchased by Carnegie Investment Counsel

Carnegie Investment Counsel raised its stake in American Tower Corporation (NYSE:AMT) by 3.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 128,666 shares of the real estate investment trust’s stock after acquiring an additional 3,835 shares during the quarter. Carnegie Investment Counsel’s holdings in American Tower were worth $24,745,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. New Hampshire Trust lifted its stake in shares of American Tower by 0.8% in the 3rd quarter. New Hampshire Trust now owns 9,026 shares of the real estate investment trust’s stock valued at $1,736,000 after purchasing an additional 71 shares during the period. One Plus One Wealth Management LLC raised its position in shares of American Tower by 3.3% in the third quarter. One Plus One Wealth Management LLC now owns 3,568 shares of the real estate investment trust’s stock worth $686,000 after acquiring an additional 115 shares during the period. Burney Co. boosted its stake in shares of American Tower by 1.6% during the 3rd quarter. Burney Co. now owns 28,467 shares of the real estate investment trust’s stock worth $5,475,000 after acquiring an additional 440 shares in the last quarter. SWS Partners grew its position in shares of American Tower by 972.4% during the 3rd quarter. SWS Partners now owns 86,780 shares of the real estate investment trust’s stock valued at $16,690,000 after acquiring an additional 78,688 shares during the period. Finally, Trust Co. of Toledo NA OH raised its holdings in American Tower by 4.8% in the 3rd quarter. Trust Co. of Toledo NA OH now owns 9,066 shares of the real estate investment trust’s stock worth $1,744,000 after purchasing an additional 413 shares during the period. Institutional investors and hedge funds own 92.69% of the company’s stock.

Insider Buying and Selling

In related news, Director Eugene F. Reilly purchased 5,554 shares of American Tower stock in a transaction dated Friday, October 31st. The shares were acquired at an average price of $178.99 per share, for a total transaction of $994,110.46. Following the acquisition, 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 purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Tower Corp /Ma/ American sold 2,288,621 shares of the business’s 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 in the company, valued at approximately $14,743,685.25. The trade was a 91.54% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 0.17% of the company’s stock.

American Tower Price Performance

Shares of NYSE AMT opened at $176.60 on Friday. The firm has a 50-day simple moving average of $180.54 and a 200-day simple moving average of $197.87. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 3.24. The stock has a market capitalization of $82.68 billion, a price-to-earnings ratio of 28.21, a price-to-earnings-growth ratio of 0.70 and a beta of 0.91. American Tower Corporation has a 52 week low of $170.77 and a 52 week high of $234.33.

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 (EPS) for the quarter, beating the consensus estimate of $2.64 by $0.14. The company had revenue of $2.72 billion during the quarter, compared to analysts’ expectations of $2.65 billion. American Tower had a net margin of 28.11% and a return on equity of 28.79%. American Tower’s revenue was up 7.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.52 EPS. American Tower has set its FY 2025 guidance at 10.600-10.720 EPS. On average, equities analysts predict that American Tower Corporation will post 10.14 earnings per share for the current fiscal year.

American Tower Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. BMO Capital Markets dropped their price objective on American Tower from $215.00 to $210.00 and set an “outperform” rating on the stock in a report on Wednesday, December 3rd. Raymond James Financial reissued a “strong-buy” rating and issued a $231.00 price target (down previously from $250.00) on shares of American Tower in a report on Wednesday, October 29th. Barclays reaffirmed an “equal weight” rating and set a $200.00 price objective (down from $203.00) on shares of American Tower in a report on Monday, December 1st. Weiss Ratings reissued a “hold (c)” rating on shares of American Tower in a research note on Monday. Finally, Citigroup reaffirmed a “market outperform” rating on shares of American Tower in a research note on Wednesday, October 29th. Two research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company 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.