CX Institutional Acquires 6,451 Shares of American Tower Corporation $AMT

CX Institutional raised its holdings in shares of American Tower Corporation (NYSE:AMT) by 279.0% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 8,763 shares of the real estate investment trust’s stock after purchasing an additional 6,451 shares during the period. CX Institutional’s holdings in American Tower were worth $1,685,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. Vanguard Group Inc. raised its stake in American Tower by 0.3% during the second 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 buying an additional 218,881 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of 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 worth $2,799,458,000 after purchasing an additional 2,474,328 shares during the last quarter. Invesco Ltd. boosted its stake in American Tower by 11.9% in the 2nd quarter. Invesco Ltd. now owns 6,680,524 shares of the real estate investment trust’s stock worth $1,476,529,000 after purchasing an additional 708,808 shares in the last quarter. Norges Bank purchased a new stake in American Tower during the 2nd quarter valued at about $1,371,875,000. Finally, Charles Schwab Investment Management Inc. increased its stake in American Tower by 3.9% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 5,563,565 shares of the real estate investment trust’s stock valued at $1,229,659,000 after purchasing an additional 208,213 shares in the last quarter. 92.69% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on AMT. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $220.00 target price on shares of American Tower in a research note on Friday, December 19th. Morgan Stanley cut their target price on American Tower from $255.00 to $235.00 and set an “overweight” rating on the stock in a research note on Thursday, December 4th. Barclays restated an “equal weight” rating and issued a $200.00 price target (down previously from $203.00) on shares of American Tower in a research note on Monday, December 1st. Raymond James Financial reaffirmed a “strong-buy” rating and set a $231.00 price objective (down from $250.00) on shares of American Tower in a research report on Wednesday, October 29th. Finally, Jefferies Financial Group decreased their target price on American Tower from $226.00 to $202.00 and set a “buy” rating for the company in a research report on Tuesday, December 16th. Two analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $226.61.

Insider Buying and Selling at American Tower

In related news, Director Eugene F. Reilly bought 5,554 shares of the stock in a transaction that occurred 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 completion of the transaction, the director owned 5,689 shares of the company’s stock, valued at approximately $1,018,274.11. This trade represents a 4,114.07% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through 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 stock was sold at an average price of $69.75, for a total value of $159,631,314.75. Following the completion of the sale, the insider owned 211,379 shares of the company’s stock, 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 Stock Performance

Shares of AMT opened at $170.23 on Friday. American Tower Corporation has a one year low of $168.34 and a one year high of $234.33. The business has a fifty day moving average of $178.16 and a 200 day moving average of $195.30. 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 firm has a market capitalization of $79.69 billion, a P/E ratio of 27.19, a PEG ratio of 0.65 and a beta of 0.92.

American Tower (NYSE:AMT) last released its quarterly earnings results on Tuesday, October 28th. The real estate investment trust reported $2.78 earnings per share (EPS) for the quarter, beating 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 business had revenue of $2.72 billion during the quarter, compared to the consensus estimate of $2.65 billion. During the same period in the previous year, the company posted $2.52 EPS. The business’s quarterly 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, sell-side analysts anticipate that American Tower Corporation will post 10.14 EPS for the current year.

American Tower Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 2nd. Shareholders of record on Monday, December 29th will be given a $1.70 dividend. The ex-dividend date is Monday, December 29th. This represents a $6.80 annualized dividend and a yield of 4.0%. American Tower’s dividend payout ratio (DPR) is presently 108.63%.

American Tower Company Profile

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.