Shorepoint Capital Partners LLC Takes $3.04 Million Position in American Tower Corporation $AMT

Shorepoint Capital Partners LLC purchased a new position in American Tower Corporation (NYSE:AMT) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 15,817 shares of the real estate investment trust’s stock, valued at approximately $3,042,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Blossom Wealth Management increased its holdings in shares of American Tower by 1.8% in the 2nd quarter. Blossom Wealth Management now owns 2,601 shares of the real estate investment trust’s stock valued at $575,000 after acquiring an additional 45 shares during the last quarter. TFG Advisers LLC raised its holdings in shares of American Tower by 0.3% during the second quarter. TFG Advisers LLC now owns 16,186 shares of the real estate investment trust’s stock worth $3,578,000 after purchasing an additional 47 shares during the period. Novem Group boosted its holdings in shares of American Tower by 3.8% in the 2nd quarter. Novem Group now owns 1,316 shares of the real estate investment trust’s stock valued at $291,000 after buying an additional 48 shares during the period. Analyst IMS Investment Management Services Ltd. grew its position in shares of American Tower by 3.6% during the 2nd quarter. Analyst IMS Investment Management Services Ltd. now owns 1,370 shares of the real estate investment trust’s stock valued at $303,000 after buying an additional 48 shares during the last quarter. Finally, Marion Wealth Management lifted its holdings in American Tower by 0.8% in the second quarter. Marion Wealth Management now owns 5,924 shares of the real estate investment trust’s stock worth $1,309,000 after acquiring an additional 48 shares during the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

Insider Buying and Selling at American Tower

In related news, major shareholder Tower Corp /Ma/ American sold 2,288,621 shares of American Tower stock in a transaction dated Tuesday, December 9th. The stock was sold at an average price of $69.75, for a total value of $159,631,314.75. Following the transaction, the insider owned 211,379 shares of the company’s stock, valued at approximately $14,743,685.25. This trade represents a 91.54% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Eugene F. Reilly bought 5,554 shares of the firm’s stock in a transaction on Friday, October 31st. The stock was purchased at an average price of $178.99 per share, with a total value of $994,110.46. Following the completion of the acquisition, the director owned 5,689 shares of the company’s stock, valued at approximately $1,018,274.11. This trade represents a 4,114.07% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Company insiders own 0.17% of the company’s stock.

American Tower Stock Performance

AMT opened at $180.27 on Tuesday. The business has a 50 day moving average price of $182.72 and a two-hundred day moving average price of $200.10. The company has a debt-to-equity ratio of 3.24, a current ratio of 0.89 and a quick ratio of 0.89. The company has a market capitalization of $84.39 billion, a price-to-earnings ratio of 28.80, a price-to-earnings-growth ratio of 0.72 and a beta of 0.91. American Tower Corporation has a 1-year low of $172.51 and a 1-year high of $234.33.

American Tower (NYSE:AMT) last posted its quarterly earnings data 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. American Tower had a return on equity of 28.79% and a net margin of 28.11%.The company had revenue of $2.72 billion for the quarter, compared to the consensus estimate of $2.65 billion. During the same quarter in the previous year, the business earned $2.52 EPS. The company’s quarterly revenue was up 7.7% compared to the same quarter last year. American Tower has set its FY 2025 guidance at 10.600-10.720 EPS. Research analysts predict that American Tower Corporation will post 10.14 EPS for the current fiscal year.

American Tower Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 2nd. Shareholders of record on Monday, December 29th will be given a $1.70 dividend. The ex-dividend date is Monday, December 29th. This represents a $6.80 annualized dividend and a yield of 3.8%. American Tower’s payout ratio is 108.63%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Wall Street Zen upgraded American Tower from a “sell” rating to a “hold” rating in a research report on Sunday, October 12th. Barclays reiterated an “equal weight” rating and issued a $200.00 price objective (down from $203.00) on shares of American Tower in a research report on Monday, December 1st. UBS Group restated a “buy” rating on shares of American Tower in a research report on Wednesday, December 10th. Citigroup reaffirmed a “market outperform” rating on shares of American Tower in a report on Wednesday, October 29th. Finally, Wells Fargo & Company decreased their price objective on American Tower from $210.00 to $200.00 and set an “overweight” rating for the company in a report on Wednesday, October 29th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $228.00.

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.