American Tower Corporation $AMT Shares Sold by Tranquility Partners LLC

Tranquility Partners LLC cut its holdings in shares of American Tower Corporation (NYSE:AMT) by 59.9% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,332 shares of the real estate investment trust’s stock after selling 3,479 shares during the period. Tranquility Partners LLC’s holdings in American Tower were worth $449,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Eastern Bank increased its holdings in American Tower by 69.6% during the 3rd quarter. Eastern Bank now owns 139,091 shares of the real estate investment trust’s stock worth $26,750,000 after purchasing an additional 57,078 shares during the period. Stack Financial Management Inc acquired a new position in shares of American Tower during the second quarter worth about $13,020,000. Los Angeles Capital Management LLC increased its stake in shares of American Tower by 52.5% during the second quarter. Los Angeles Capital Management LLC now owns 321,661 shares of the real estate investment trust’s stock worth $71,094,000 after buying an additional 110,671 shares during the period. First Trust Advisors LP raised its holdings in American Tower by 47.3% in the second quarter. First Trust Advisors LP now owns 109,124 shares of the real estate investment trust’s stock valued at $24,119,000 after acquiring an additional 35,037 shares in the last quarter. Finally, Nordea Investment Management AB lifted its stake in American Tower by 1.0% in the second quarter. Nordea Investment Management AB now owns 1,532,818 shares of the real estate investment trust’s stock worth $334,430,000 after acquiring an additional 15,920 shares during the last quarter. Hedge funds and other institutional investors own 92.69% of the company’s stock.

American Tower Stock Performance

Shares of AMT stock opened at $177.74 on Wednesday. The stock’s 50-day moving average is $177.79 and its two-hundred day moving average is $192.45. The company has a debt-to-equity ratio of 3.24, a quick ratio of 0.89 and a current ratio of 0.89. American Tower Corporation has a 1 year low of $166.88 and a 1 year high of $234.33. The firm has a market cap of $83.21 billion, a price-to-earnings ratio of 28.39, a PEG ratio of 0.74 and a beta of 0.92.

American Tower (NYSE:AMT) last announced its earnings results on Tuesday, October 28th. The real estate investment trust reported $2.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.64 by $0.14. The firm had revenue of $2.72 billion during the quarter, compared to analysts’ expectations of $2.65 billion. American Tower had a return on equity of 28.79% and a net margin of 28.11%.The business’s revenue was up 7.7% on a year-over-year basis. 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. Analysts predict that American Tower Corporation will post 10.14 earnings per share for the current year.

American Tower Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 2nd. Stockholders of record on Monday, December 29th will be given a dividend of $1.70 per share. The ex-dividend date is Monday, December 29th. 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 108.63%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on AMT. UBS Group dropped their price objective on shares of American Tower from $260.00 to $254.00 and set a “buy” rating on the stock in a research report on Tuesday. HSBC dropped their target price on American Tower from $235.00 to $205.00 in a report on Wednesday, October 29th. JPMorgan Chase & Co. cut their price target on American Tower from $250.00 to $245.00 and set an “overweight” rating on the stock in a research note on Monday, January 12th. 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. Finally, Citigroup reissued a “market outperform” rating on shares of American Tower in a research report on Wednesday, October 29th. Two analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $218.89.

Insider Buying and Selling

In other American Tower news, Director Eugene F. Reilly bought 5,554 shares of the business’s stock in a transaction dated Friday, October 31st. The shares were acquired at an average cost of $178.99 per share, with a total value of $994,110.46. Following the acquisition, the director directly owned 5,689 shares of the company’s stock, valued at $1,018,274.11. The trade was a 4,114.07% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Tower Corp /Ma/ American sold 2,288,621 shares of the stock in a transaction on Tuesday, December 9th. The stock was sold at an average price of $69.75, for a total transaction of $159,631,314.75. Following the sale, the insider owned 211,379 shares of the company’s stock, valued at approximately $14,743,685.25. This represents a 91.54% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 0.18% of the company’s stock.

About American Tower

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.