Paradigm Asset Management Co. LLC Acquires Shares of 5,300 American Tower Corporation $AMT

Paradigm Asset Management Co. LLC bought a new stake in American Tower Corporation (NYSE:AMT) in the second quarter, Holdings Channel.com reports. The firm bought 5,300 shares of the real estate investment trust’s stock, valued at approximately $1,171,000.

Several other large investors also recently bought and sold shares of AMT. Hopwood Financial Services Inc. boosted its holdings in shares of American Tower by 100.0% during the 1st quarter. Hopwood Financial Services Inc. now owns 120 shares of the real estate investment trust’s stock worth $26,000 after purchasing an additional 60 shares during the last quarter. Legacy Investment Solutions LLC purchased a new stake in American Tower in the 2nd quarter valued at $31,000. Rosenberg Matthew Hamilton increased its stake 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 acquiring an additional 80 shares during the last quarter. Saudi Central Bank acquired a new position in shares of American Tower during the 1st quarter valued at about $40,000. Finally, Accredited Wealth Management LLC boosted its holdings in American Tower by 180.0% in 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. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on AMT. Citigroup reiterated a “market outperform” rating on shares of American Tower in a report on Wednesday, October 29th. Morgan Stanley reduced their price objective on shares of American Tower from $270.00 to $235.00 and set an “overweight” rating on the stock in a report on Thursday, October 16th. Raymond James Financial reaffirmed a “strong-buy” rating and set a $231.00 target price (down previously from $250.00) on shares of American Tower in a research note on Wednesday, October 29th. Wall Street Zen upgraded shares of American Tower from a “sell” rating to a “hold” rating in a research report on Sunday, October 12th. Finally, The Goldman Sachs Group decreased their price objective on shares of American Tower from $250.00 to $230.00 and set a “buy” rating on the stock in a report on Wednesday, October 29th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, American Tower has an average rating of “Moderate Buy” and a consensus price target of $231.11.

Insider Activity

In other news, Director Eugene F. Reilly bought 5,554 shares of the stock in a transaction that occurred on Friday, October 31st. The stock was purchased at an average price of $178.99 per share, for a total transaction of $994,110.46. Following the completion of the purchase, the director owned 5,689 shares in the company, valued at approximately $1,018,274.11. This trade represents a 4,114.07% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.17% of the company’s stock.

American Tower Stock Down 0.1%

American Tower stock opened at $177.86 on Friday. The firm has a market capitalization of $83.28 billion, a P/E ratio of 28.41, a P/E/G ratio of 1.08 and a beta of 0.85. The stock’s fifty day simple moving average is $189.98 and its 200-day simple moving average is $206.61. American Tower Corporation has a twelve month low of $172.51 and a twelve month high of $234.33. The company has a current ratio of 0.89, a quick ratio of 0.95 and a debt-to-equity ratio of 3.24.

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 for the quarter, topping the consensus estimate of $2.64 by $0.14. The company had revenue of $2.72 billion for the quarter, compared to the consensus estimate of $2.65 billion. American Tower had a return on equity of 28.79% and a net margin of 28.11%.American Tower’s revenue was up 7.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.52 EPS. American Tower has set its FY 2025 guidance at 10.600-10.720 EPS. As a group, equities analysts expect that American Tower Corporation will post 10.14 earnings per share for the current fiscal year.

American Tower Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, October 20th. Stockholders of record on Tuesday, September 30th were issued a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date was Tuesday, September 30th. American Tower’s dividend payout ratio (DPR) is presently 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.