Sterling Capital Management LLC Has $13.48 Million Stock Holdings in American Tower Corporation $AMT

Sterling Capital Management LLC lifted its stake in American Tower Corporation (NYSE:AMT) by 8.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 60,991 shares of the real estate investment trust’s stock after buying an additional 4,690 shares during the period. Sterling Capital Management LLC’s holdings in American Tower were worth $13,480,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Hopwood Financial Services Inc. raised its stake in American Tower by 100.0% during the first quarter. Hopwood Financial Services Inc. now owns 120 shares of the real estate investment trust’s stock worth $26,000 after acquiring an additional 60 shares in the last quarter. Rosenberg Matthew Hamilton grew its holdings in shares of American Tower by 86.0% in the 2nd quarter. Rosenberg Matthew Hamilton now owns 173 shares of the real estate investment trust’s stock worth $38,000 after purchasing an additional 80 shares during the last quarter. Saudi Central Bank acquired a new stake in shares of American Tower during the 1st quarter worth about $40,000. Accredited Wealth Management LLC lifted its holdings in American Tower by 180.0% during the 1st quarter. Accredited Wealth Management LLC now owns 210 shares of the real estate investment trust’s stock valued at $46,000 after purchasing an additional 135 shares during the last quarter. Finally, Park Square Financial Group LLC boosted its position in American Tower by 512.8% in the first quarter. Park Square Financial Group LLC now owns 239 shares of the real estate investment trust’s stock valued at $52,000 after buying an additional 200 shares in the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on AMT shares. Barclays upped their price objective on shares of American Tower from $250.00 to $251.00 and gave the stock an “overweight” rating in a research note on Friday, October 17th. Weiss Ratings restated a “hold (c-)” rating on shares of American Tower in a research report on Wednesday, October 8th. Argus set a $210.00 price objective on American Tower in a research report on Thursday, October 30th. The Goldman Sachs Group reduced their price objective on American Tower from $250.00 to $230.00 and set a “buy” rating on the stock in a research note on Wednesday, October 29th. Finally, Wells Fargo & Company decreased their target price on American Tower from $210.00 to $200.00 and set an “overweight” rating on the stock in a report on Wednesday, October 29th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $231.11.

Insider Buying and Selling at American Tower

In other American Tower news, Director Eugene F. Reilly acquired 5,554 shares of the business’s stock in a transaction that occurred on Friday, October 31st. The shares were acquired at an average cost of $178.99 per share, for a total transaction of $994,110.46. Following the completion of the acquisition, the director directly owned 5,689 shares of the company’s stock, valued at approximately $1,018,274.11. This represents a 4,114.07% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.17% of the stock is currently owned by company insiders.

American Tower Stock Down 0.8%

NYSE AMT opened at $177.95 on Friday. The stock has a market capitalization of $83.32 billion, a P/E ratio of 28.43, a price-to-earnings-growth ratio of 1.08 and a beta of 0.85. American Tower Corporation has a 52 week low of $172.51 and a 52 week high of $234.33. The company has a debt-to-equity ratio of 3.24, a quick ratio of 0.95 and a current ratio of 0.89. The stock has a fifty day moving average of $190.49 and a 200-day moving average of $206.89.

American Tower (NYSE:AMT) last issued its quarterly earnings results on Tuesday, October 28th. The real estate investment trust reported $2.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.64 by $0.14. The business had revenue of $2.72 billion for the quarter, compared to analyst estimates of $2.65 billion. American Tower had a return on equity of 28.79% and a net margin of 28.11%.The firm’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.52 earnings per share. American Tower has set its FY 2025 guidance at 10.600-10.720 EPS. On average, equities research analysts forecast 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 was paid on Monday, October 20th. Stockholders of record on Tuesday, September 30th were given a dividend of $1.70 per share. The ex-dividend date was Tuesday, September 30th. This represents a $6.80 annualized dividend and a dividend yield of 3.8%. American Tower’s payout ratio is currently 108.63%.

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.