American Tower Corporation $AMT Shares Acquired by Ascent Group LLC

Ascent Group LLC increased its stake in shares of American Tower Corporation (NYSE:AMT) by 138.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,540 shares of the real estate investment trust’s stock after purchasing an additional 4,953 shares during the quarter. Ascent Group LLC’s holdings in American Tower were worth $1,642,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Blossom Wealth Management grew its stake in shares of American Tower by 1.8% during the second quarter. Blossom Wealth Management now owns 2,601 shares of the real estate investment trust’s stock worth $575,000 after purchasing an additional 45 shares in the last quarter. TFG Advisers LLC boosted its stake in American Tower by 0.3% in the second quarter. TFG Advisers LLC now owns 16,186 shares of the real estate investment trust’s stock valued at $3,578,000 after acquiring an additional 47 shares in the last quarter. Novem Group grew its holdings in shares of American Tower by 3.8% during the second quarter. Novem Group now owns 1,316 shares of the real estate investment trust’s stock worth $291,000 after purchasing an additional 48 shares during the last quarter. Analyst IMS Investment Management Services Ltd. increased its position in shares of American Tower by 3.6% during the second quarter. Analyst IMS Investment Management Services Ltd. now owns 1,370 shares of the real estate investment trust’s stock worth $303,000 after purchasing an additional 48 shares in the last quarter. Finally, Marion Wealth Management boosted its position in shares of American Tower by 0.8% in the 2nd quarter. Marion Wealth Management now owns 5,924 shares of the real estate investment trust’s stock valued at $1,309,000 after purchasing an additional 48 shares during the period. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Barclays reissued an “equal weight” rating and issued a $200.00 price objective (down from $203.00) on shares of American Tower in a report on Monday, December 1st. TD Cowen lowered their price target on American Tower from $249.00 to $235.00 and set a “buy” rating on the stock in a report on Wednesday, October 29th. BMO Capital Markets cut their price target on American Tower from $215.00 to $210.00 and set an “outperform” rating for the company in a research note on Wednesday, December 3rd. 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, The Goldman Sachs Group reduced their target price on shares of American Tower from $250.00 to $230.00 and set a “buy” rating for the company in a research note on Wednesday, October 29th. 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 stock. According to data from MarketBeat.com, American Tower has an average rating of “Moderate Buy” and an average target price of $226.67.

American Tower Stock Performance

NYSE:AMT opened at $175.51 on Friday. 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 fifty-two week low of $170.77 and a fifty-two week high of $234.33. The firm’s fifty day simple moving average is $179.28 and its 200-day simple moving average is $196.77. The stock has a market cap of $82.17 billion, a PE ratio of 28.04, a price-to-earnings-growth ratio of 0.70 and a beta of 0.92.

American Tower (NYSE:AMT) last released its quarterly earnings data 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. The firm had revenue of $2.72 billion for 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 firm’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 earnings per share. American Tower has set its FY 2025 guidance at 10.600-10.720 EPS. Analysts expect that American Tower Corporation will post 10.14 earnings per share 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 $1.70 dividend. The ex-dividend date of this dividend is Monday, December 29th. This represents a $6.80 dividend on an annualized basis and a yield of 3.9%. American Tower’s dividend payout ratio is presently 108.63%.

Insider Activity

In other American Tower news, Director Eugene F. Reilly acquired 5,554 shares of the stock in a transaction dated Friday, October 31st. The stock was acquired at an average price of $178.99 per share, with a total value of $994,110.46. Following the completion of the transaction, the director directly owned 5,689 shares in the company, valued at approximately $1,018,274.11. This trade represents a 4,114.07% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, major shareholder Tower Corp /Ma/ American sold 2,288,621 shares of the company’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 of the company’s stock, valued at approximately $14,743,685.25. This represents a 91.54% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.17% of the stock is owned by company insiders.

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.