American Tower Corporation $AMT Shares Purchased by OFI Invest Asset Management

OFI Invest Asset Management raised its position in American Tower Corporation (NYSE:AMT) by 2.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 133,388 shares of the real estate investment trust’s stock after acquiring an additional 3,421 shares during the quarter. OFI Invest Asset Management’s holdings in American Tower were worth $25,653,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in AMT. Abound Wealth Management increased its stake in American Tower by 137.3% during the 3rd quarter. Abound Wealth Management now owns 140 shares of the real estate investment trust’s stock worth $27,000 after buying an additional 81 shares during the period. Legacy Investment Solutions LLC acquired a new position in shares of American Tower in the second quarter worth $31,000. VSM Wealth Advisory LLC grew its stake in shares of American Tower by 136.4% in the second quarter. VSM Wealth Advisory LLC now owns 156 shares of the real estate investment trust’s stock worth $34,000 after acquiring an additional 90 shares in the last quarter. Rosenberg Matthew Hamilton raised its stake in shares of American Tower by 86.0% in the second quarter. Rosenberg Matthew Hamilton now owns 173 shares of the real estate investment trust’s stock valued at $38,000 after acquiring an additional 80 shares in the last quarter. Finally, Saudi Central Bank purchased a new position in American Tower in the first quarter valued at $40,000. Institutional investors and hedge funds own 92.69% of the company’s stock.

American Tower Price Performance

Shares of NYSE AMT opened at $172.49 on Tuesday. The stock’s 50-day simple moving average is $181.72 and its 200-day simple moving average is $198.72. The company has a debt-to-equity ratio of 3.24, a quick ratio of 0.89 and a current ratio of 0.89. The firm has a market capitalization of $80.75 billion, a PE ratio of 27.55, a price-to-earnings-growth ratio of 0.69 and a beta of 0.91. American Tower Corporation has a fifty-two week low of $170.77 and a fifty-two week high of $234.33.

American Tower (NYSE:AMT) last released its quarterly earnings data on Tuesday, October 28th. The real estate investment trust reported $2.78 earnings per share for the quarter, topping analysts’ consensus estimates of $2.64 by $0.14. The company had revenue of $2.72 billion for the quarter, compared to analysts’ expectations of $2.65 billion. American Tower had a net margin of 28.11% and a return on equity of 28.79%. The firm’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same quarter last year, the company earned $2.52 earnings per share. American Tower has set its FY 2025 guidance at 10.600-10.720 EPS. As a group, equities research analysts forecast that American Tower Corporation will post 10.14 EPS for the current fiscal year.

American Tower Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, February 2nd. Investors of record on Monday, December 29th will be given a $1.70 dividend. The ex-dividend date of this dividend is Monday, December 29th. This represents a $6.80 dividend on an annualized basis and a yield of 3.9%. American Tower’s payout ratio is 108.63%.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Barclays reissued an “equal weight” rating and set a $200.00 target price (down from $203.00) on shares of American Tower in a research note on Monday, December 1st. Jefferies Financial Group lowered their price objective on American Tower from $226.00 to $202.00 and set a “buy” rating for the company in a research report on Tuesday, December 16th. JPMorgan Chase & Co. cut 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 note on Wednesday, October 29th. HSBC decreased their price target on shares of American Tower from $235.00 to $205.00 in a research note on Wednesday, October 29th. Finally, Wall Street Zen upgraded shares of American Tower from a “sell” rating to a “hold” rating in a report on Sunday, October 12th. Two research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $226.67.

Insider Buying and Selling at American Tower

In other news, Director Eugene F. Reilly acquired 5,554 shares of the company’s stock in a transaction on Friday, October 31st. The shares were bought 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 in the company, valued at $1,018,274.11. This trade represents a 4,114.07% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, 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 sale, the insider owned 211,379 shares in the company, valued at $14,743,685.25. This trade represents a 91.54% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.18% of the company’s stock.

American Tower Company Profile

American Tower (NYSE: AMT) is a real estate investment trust (REIT) that owns, operates and develops wireless and broadcast communications infrastructure. The company’s core business is leasing space on communications sites — including towers, rooftops and other structures — to wireless carriers, broadcasters, government agencies and enterprise customers. Its business model centers on long-term site leases and contracts that provide recurring revenue tied to the footprint and density of wireless networks.

Beyond traditional tower assets, American Tower offers a range of infrastructure and network services to support mobile, broadband and broadcast connectivity.