Amalgamated Bank Boosts Holdings in American Tower Corporation $AMT

Amalgamated Bank grew its holdings in American Tower Corporation (NYSE:AMT) by 3.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 102,454 shares of the real estate investment trust’s stock after purchasing an additional 3,518 shares during the quarter. Amalgamated Bank’s holdings in American Tower were worth $22,644,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in AMT. Brighton Jones LLC raised its holdings in American Tower by 113.0% in the fourth quarter. Brighton Jones LLC now owns 3,966 shares of the real estate investment trust’s stock valued at $727,000 after acquiring an additional 2,104 shares in the last quarter. Golden State Wealth Management LLC raised its holdings in American Tower by 23.0% during the first quarter. Golden State Wealth Management LLC now owns 369 shares of the real estate investment trust’s stock worth $80,000 after purchasing an additional 69 shares in the last quarter. Avidian Wealth Enterprises LLC acquired a new stake in American Tower during the first quarter worth approximately $200,000. Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in American Tower by 1.5% during the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 60,017 shares of the real estate investment trust’s stock worth $13,060,000 after purchasing an additional 875 shares in the last quarter. Finally, Arbor Capital Management Inc. ADV increased its holdings in shares of American Tower by 4.7% in the 1st quarter. Arbor Capital Management Inc. ADV now owns 6,896 shares of the real estate investment trust’s stock valued at $1,512,000 after acquiring an additional 309 shares during the period. Institutional investors and hedge funds own 92.69% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on AMT shares. Hsbc Global Res cut shares of American Tower from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 30th. Jefferies Financial Group lowered their price objective on shares of American Tower from $281.00 to $226.00 and set a “buy” rating on the stock in a research report on Monday, October 13th. Royal Bank Of Canada set a $220.00 price objective on shares of American Tower and gave the company a “sector perform” rating in a research report on Wednesday, October 1st. JPMorgan Chase & Co. decreased their target price on shares of American Tower from $255.00 to $250.00 and set an “overweight” rating on the stock in a research report on Wednesday. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of American Tower in a research report on Wednesday, October 8th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, American Tower currently has an average rating of “Moderate Buy” and an average price target of $234.31.

American Tower Price Performance

American Tower stock opened at $179.13 on Thursday. American Tower Corporation has a 52 week low of $172.51 and a 52 week high of $234.33. The company has a quick ratio of 0.95, a current ratio of 0.89 and a debt-to-equity ratio of 3.24. The firm’s 50-day simple moving average is $193.96 and its 200 day simple moving average is $208.52. The firm has a market capitalization of $83.88 billion, a PE ratio of 28.61, a P/E/G ratio of 1.11 and a beta of 0.86.

American Tower (NYSE:AMT) last released its 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. The company had revenue of $2.72 billion for the quarter, compared to analyst estimates of $2.65 billion. American Tower had a net margin of 28.11% and a return on equity of 28.79%. The firm’s quarterly revenue was up 7.7% on a year-over-year basis. During the same period in the prior year, the firm earned $2.52 EPS. American Tower has set its FY 2025 guidance at 10.600-10.720 EPS. On average, equities research analysts predict that American Tower Corporation will post 10.14 EPS for the current fiscal year.

American Tower Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, October 20th. Stockholders of record on Tuesday, September 30th were paid a dividend of $1.70 per share. The ex-dividend date of this dividend was Tuesday, September 30th. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.8%. American Tower’s dividend payout ratio is currently 247.27%.

American Tower Profile

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.