Mesirow Financial Investment Management Inc. Sells 735 Shares of American Tower Corporation $AMT

Mesirow Financial Investment Management Inc. lessened its position in American Tower Corporation (NYSE:AMT) by 4.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 17,524 shares of the real estate investment trust’s stock after selling 735 shares during the period. Mesirow Financial Investment Management Inc.’s holdings in American Tower were worth $3,873,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the stock. Simon Quick Advisors LLC raised its holdings in shares of American Tower by 796.8% during the second quarter. Simon Quick Advisors LLC now owns 15,263 shares of the real estate investment trust’s stock valued at $3,374,000 after purchasing an additional 13,561 shares during the last quarter. Strs Ohio raised its holdings in shares of American Tower by 6.5% during the second quarter. Strs Ohio now owns 158,148 shares of the real estate investment trust’s stock valued at $34,954,000 after purchasing an additional 9,698 shares during the last quarter. Heritage Investors Management Corp raised its holdings in shares of American Tower by 0.9% during the second quarter. Heritage Investors Management Corp now owns 108,106 shares of the real estate investment trust’s stock valued at $23,894,000 after purchasing an additional 981 shares during the last quarter. Amalgamated Bank raised its holdings in shares of American Tower by 3.6% during the second quarter. Amalgamated Bank now owns 102,454 shares of the real estate investment trust’s stock valued at $22,644,000 after purchasing an additional 3,518 shares during the last quarter. Finally, Atria Investments Inc raised its holdings in shares of American Tower by 2.8% during the second quarter. Atria Investments Inc now owns 34,293 shares of the real estate investment trust’s stock valued at $7,579,000 after purchasing an additional 924 shares during the last quarter. 92.69% of the stock is owned by hedge funds and other institutional investors.

American Tower Stock Down 0.2%

Shares of AMT stock opened at $179.18 on Friday. American Tower Corporation has a 12 month low of $172.51 and a 12 month high of $234.33. The stock has a market cap of $83.90 billion, a P/E ratio of 28.62, a P/E/G ratio of 1.08 and a beta of 0.86. The company has a current ratio of 0.89, a quick ratio of 0.95 and a debt-to-equity ratio of 3.24. The company has a 50 day simple moving average of $192.70 and a two-hundred day simple moving average of $208.05.

American Tower (NYSE:AMT) last announced its quarterly earnings data 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. The firm had revenue of $2.72 billion during 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 company’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same period in the prior year, the company posted $2.52 earnings per share. American Tower has set its FY 2025 guidance at 10.600-10.720 EPS. On average, research analysts expect that American Tower Corporation will post 10.14 earnings per share for the current year.

American Tower Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, October 20th. Stockholders of record on Tuesday, September 30th were paid 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 dividend yield of 3.8%. American Tower’s dividend payout ratio is 108.63%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on AMT. Hsbc Global Res cut shares of American Tower from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 30th. BMO Capital Markets decreased their price objective on shares of American Tower from $220.00 to $215.00 and set an “outperform” rating for the company in a report on Wednesday. Wall Street Zen raised shares of American Tower from a “sell” rating to a “hold” rating in a report on Sunday, October 12th. Raymond James Financial reaffirmed a “strong-buy” rating and set a $231.00 target price (down from $250.00) on shares of American Tower in a report on Wednesday. Finally, UBS Group reaffirmed a “buy” rating and set a $260.00 target price on shares of American Tower in a report on Wednesday. Two investment 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. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $230.88.

About American Tower

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.