American Tower Corporation $AMT Shares Bought by Fire Capital Management LLC

Fire Capital Management LLC grew its holdings in shares of American Tower Corporation (NYSE:AMT) by 2.9% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,787 shares of the real estate investment trust’s stock after acquiring an additional 108 shares during the period. Fire Capital Management LLC’s holdings in American Tower were worth $837,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the business. Jennison Associates LLC grew its stake in shares of American Tower by 59.0% during the second quarter. Jennison Associates LLC now owns 83,801 shares of the real estate investment trust’s stock valued at $18,522,000 after acquiring an additional 31,107 shares in the last quarter. Redmond Asset Management LLC acquired a new stake in shares of American Tower during the second quarter valued at about $1,381,000. New York Life Investment Management LLC grew its stake in American Tower by 1.4% in the second quarter. New York Life Investment Management LLC now owns 70,090 shares of the real estate investment trust’s stock worth $15,491,000 after purchasing an additional 984 shares in the last quarter. Howard Capital Management Inc. grew its stake in American Tower by 9.6% in the second quarter. Howard Capital Management Inc. now owns 9,161 shares of the real estate investment trust’s stock worth $2,040,000 after purchasing an additional 801 shares in the last quarter. Finally, First National Trust Co grew its stake in American Tower by 3.4% in the second quarter. First National Trust Co now owns 15,688 shares of the real estate investment trust’s stock worth $3,467,000 after purchasing an additional 519 shares in the last quarter. 92.69% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms recently commented on AMT. Wells Fargo & Company decreased their price target on American Tower from $230.00 to $210.00 and set an “overweight” rating for the company in a research note on Monday, October 20th. Weiss Ratings reiterated a “hold (c-)” rating on shares of American Tower in a research note on Wednesday, October 8th. BMO Capital Markets decreased their price target on American Tower from $245.00 to $220.00 and set an “outperform” rating for the company in a research note on Friday, October 17th. Raymond James Financial set a $250.00 price target on American Tower and gave the stock a “strong-buy” rating in a research note on Wednesday, July 30th. Finally, Hsbc Global Res downgraded American Tower from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 30th. Two analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $236.75.

American Tower Stock Performance

Shares of NYSE AMT opened at $182.90 on Wednesday. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 3.36. The firm’s 50-day moving average price is $194.56 and its two-hundred day moving average price is $208.76. American Tower Corporation has a 52-week low of $172.51 and a 52-week high of $234.33. The stock has a market capitalization of $85.64 billion, a P/E ratio of 66.51, a P/E/G ratio of 1.15 and a beta of 0.86.

American Tower (NYSE:AMT) last issued its earnings results on Tuesday, October 28th. The real estate investment trust reported $2.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.64 by $0.14. American Tower had a net margin of 12.60% and a return on equity of 24.85%. The firm had revenue of $2.72 billion for the quarter, compared to analysts’ expectations of $2.65 billion. During the same quarter last year, the company posted $2.52 earnings per share. American Tower’s revenue was up 7.7% on a year-over-year basis. American Tower has set its FY 2025 guidance at 10.600-10.720 EPS. As a group, sell-side analysts forecast that American Tower Corporation will post 10.14 earnings per share for the current year.

American Tower Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, October 20th. Shareholders of record on Tuesday, September 30th were issued a $1.70 dividend. The ex-dividend date of this dividend was Tuesday, September 30th. This represents a $6.80 dividend on an annualized basis and a yield of 3.7%. American Tower’s dividend payout ratio (DPR) is currently 247.27%.

Insider Transactions at American Tower

In other American Tower news, CEO Juan Font sold 720 shares of the firm’s stock in a transaction dated Thursday, July 31st. The shares were sold at an average price of $208.33, for a total value of $149,997.60. Following the transaction, the chief executive officer owned 23,425 shares of the company’s stock, valued at $4,880,130.25. This trade represents a 2.98% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.18% of the stock is owned by corporate insiders.

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.