American Tower Corporation $AMT Shares Purchased by New York Life Investment Management LLC

New York Life Investment Management LLC raised its stake in American Tower Corporation (NYSE:AMT) by 1.4% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 70,090 shares of the real estate investment trust’s stock after acquiring an additional 984 shares during the quarter. New York Life Investment Management LLC’s holdings in American Tower were worth $15,491,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. North Capital Inc. acquired a new position in American Tower in the 1st quarter valued at about $25,000. Hopwood Financial Services Inc. raised its position in shares of American Tower by 100.0% in the first quarter. Hopwood Financial Services Inc. now owns 120 shares of the real estate investment trust’s stock valued at $26,000 after buying an additional 60 shares during the last quarter. Rosenberg Matthew Hamilton raised its position in shares of American Tower by 86.0% in the second quarter. Rosenberg Matthew Hamilton now owns 173 shares of the real estate investment trust’s stock valued at $38,000 after buying an additional 80 shares during the last quarter. Saudi Central Bank acquired a new position in shares of American Tower in the first quarter valued at approximately $40,000. Finally, Accredited Wealth Management LLC raised its position in shares of American Tower by 180.0% in the first quarter. Accredited Wealth Management LLC now owns 210 shares of the real estate investment trust’s stock valued at $46,000 after buying an additional 135 shares during the last quarter. 92.69% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO Juan Font sold 720 shares of the stock in a transaction on Thursday, July 31st. The stock was sold at an average price of $208.33, for a total value of $149,997.60. Following the completion of the sale, the chief executive officer directly owned 23,425 shares in the company, valued at approximately $4,880,130.25. This represents a 2.98% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.18% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

AMT has been the subject of several analyst reports. Hsbc Global Res downgraded American Tower from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 30th. Raymond James Financial set a $250.00 target price on American Tower and gave the company a “strong-buy” rating in a research note on Wednesday, July 30th. Citigroup reiterated a “market outperform” rating on shares of American Tower in a research note on Wednesday. Wall Street Zen upgraded American Tower from a “sell” rating to a “hold” rating in a research note on Sunday, October 12th. Finally, Barclays upped their price objective on shares of American Tower from $250.00 to $251.00 and gave the company an “overweight” rating in a research note on Friday, October 17th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $236.75.

American Tower Stock Performance

Shares of NYSE:AMT opened at $182.90 on Wednesday. The firm has a market capitalization of $85.64 billion, a PE ratio of 66.51, a P/E/G ratio of 1.15 and a beta of 0.86. The company has a debt-to-equity ratio of 3.36, a current ratio of 0.95 and a quick ratio of 0.95. The business has a 50-day moving average of $194.56 and a two-hundred day moving average of $208.76. American Tower Corporation has a 12 month low of $172.51 and a 12 month high of $234.33.

American Tower (NYSE:AMT) last posted its earnings results on Tuesday, October 28th. The real estate investment trust reported $2.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.64 by $0.14. The firm had revenue of $2.72 billion during the quarter, compared to the consensus estimate of $2.65 billion. American Tower had a net margin of 12.60% and a return on equity of 24.85%. The company’s revenue was up 7.7% on a year-over-year basis. 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. As a group, research analysts forecast that American Tower Corporation will post 10.14 earnings per share for the current year.

American Tower Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 20th. Stockholders of record on Tuesday, September 30th were given a $1.70 dividend. The ex-dividend date of this dividend was Tuesday, September 30th. This represents a $6.80 annualized dividend and a dividend yield of 3.7%. American Tower’s dividend payout ratio is presently 247.27%.

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.