American Tower Corporation $AMT Shares Bought by Mitsubishi UFJ Asset Management Co. Ltd.

Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in American Tower Corporation (NYSE:AMT) by 7.1% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 891,281 shares of the real estate investment trust’s stock after buying an additional 59,346 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in American Tower were worth $196,991,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of AMT. Focus Financial Network Inc. grew its position in shares of American Tower by 9.1% during the second quarter. Focus Financial Network Inc. now owns 2,042 shares of the real estate investment trust’s stock worth $451,000 after buying an additional 170 shares in the last quarter. Resolution Capital Ltd purchased a new position in American Tower in the first quarter worth approximately $72,706,000. Stack Financial Management Inc purchased a new position in American Tower in the second quarter worth approximately $13,020,000. Kovitz Investment Group Partners LLC grew its holdings in American Tower by 126.0% during the 1st quarter. Kovitz Investment Group Partners LLC now owns 97,495 shares of the real estate investment trust’s stock worth $21,215,000 after acquiring an additional 54,360 shares in the last quarter. Finally, Nordea Investment Management AB increased its position in shares of American Tower by 1.0% in the 2nd quarter. Nordea Investment Management AB now owns 1,532,818 shares of the real estate investment trust’s stock valued at $334,430,000 after purchasing an additional 15,920 shares during the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Royal Bank Of Canada set a $220.00 price objective on shares of American Tower and gave the stock a “sector perform” rating in a research report on Wednesday, October 1st. Raymond James Financial restated a “strong-buy” rating and issued a $231.00 price target (down from $250.00) on shares of American Tower in a research note on Wednesday, October 29th. BMO Capital Markets decreased their price target on American Tower from $220.00 to $215.00 and set an “outperform” rating for the company in a report on Wednesday, October 29th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of American Tower in a research report on Wednesday, October 8th. Finally, Citigroup reissued a “market outperform” rating on shares of American Tower in a research report on Wednesday, October 29th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $231.11.

Insider Buying and Selling at American Tower

In other news, Director Eugene F. Reilly acquired 5,554 shares of the firm’s stock in a transaction dated Friday, October 31st. The stock was acquired at an average cost 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 $1,018,274.11. The trade was a 4,114.07% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.17% of the company’s stock.

American Tower Price Performance

Shares of AMT opened at $177.86 on Friday. The company has a debt-to-equity ratio of 3.24, a current ratio of 0.89 and a quick ratio of 0.95. American Tower Corporation has a 1-year low of $172.51 and a 1-year high of $234.33. The stock has a market cap of $83.28 billion, a PE ratio of 28.41, a price-to-earnings-growth ratio of 1.08 and a beta of 0.85. The firm has a fifty day moving average price of $189.98 and a 200 day moving average price of $206.51.

American Tower (NYSE:AMT) last issued its quarterly earnings data on Tuesday, October 28th. The real estate investment trust reported $2.78 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analyst estimates of $2.65 billion. During the same quarter last year, the company posted $2.52 earnings per share. The business’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. As a group, sell-side analysts anticipate that American Tower Corporation will post 10.14 EPS for the current year.

American Tower Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, October 20th. Shareholders of record on Tuesday, September 30th were paid a $1.70 dividend. The ex-dividend date was Tuesday, September 30th. This represents a $6.80 dividend on an annualized basis and a yield of 3.8%. American Tower’s payout ratio is currently 108.63%.

American Tower Company 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.