American Tower (NYSE:AMT) Director Purchases $994,110.46 in Stock

American Tower Corporation (NYSE:AMT) Director Eugene Reilly acquired 5,554 shares of American Tower stock in a transaction that occurred on Friday, October 31st. The stock was purchased 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 directly owned 5,689 shares in the company, valued at $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 can be accessed through the SEC website.

American Tower Trading Up 2.1%

AMT stock traded up $3.73 during mid-day trading on Tuesday, reaching $180.37. The company had a trading volume of 2,629,649 shares, compared to its average volume of 2,707,954. The company has a debt-to-equity ratio of 3.24, a current ratio of 0.89 and a quick ratio of 0.95. The company has a market capitalization of $84.46 billion, a PE ratio of 28.81, a price-to-earnings-growth ratio of 1.08 and a beta of 0.86. The firm has a 50 day moving average of $192.02 and a 200 day moving average of $207.59. American Tower Corporation has a 12 month low of $172.51 and a 12 month high of $234.33.

American Tower (NYSE:AMT) last issued its earnings results 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 business 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 company’s revenue for the quarter was up 7.7% compared to the same quarter last year. 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 analysts predict that American Tower Corporation will post 10.14 earnings per share for the current fiscal year.

American Tower Dividend Announcement

The firm 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 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 (DPR) is currently 108.63%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on AMT shares. UBS Group reiterated a “buy” rating and set a $260.00 price objective on shares of American Tower in a research note on Wednesday, October 29th. Hsbc Global Res downgraded shares of American Tower from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 30th. Jefferies Financial Group lowered their target price on shares of American Tower from $281.00 to $226.00 and set a “buy” rating for the company in a research note on Monday, October 13th. BMO Capital Markets lowered their target price on shares of American Tower from $220.00 to $215.00 and set an “outperform” rating for the company in a research note on Wednesday, October 29th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of American Tower in a report on Wednesday, October 8th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, American Tower presently has a consensus rating of “Moderate Buy” and an average price target of $231.11.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the business. Brighton Jones LLC increased 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 buying an additional 2,104 shares in the last quarter. Golden State Wealth Management LLC increased its stake in shares of 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. Mutual Advisors LLC increased its stake in shares of American Tower by 1.4% during the first quarter. Mutual Advisors LLC now owns 4,263 shares of the real estate investment trust’s stock worth $899,000 after purchasing an additional 57 shares in the last quarter. Envestnet Asset Management Inc. increased its stake in shares of American Tower by 3.2% during the first quarter. Envestnet Asset Management Inc. now owns 759,877 shares of the real estate investment trust’s stock worth $165,349,000 after purchasing an additional 23,407 shares in the last quarter. Finally, Callan Capital LLC purchased a new stake in shares of American Tower during the first quarter worth about $232,000. Hedge funds and other institutional investors own 92.69% of the company’s stock.

American Tower Company 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.