American Tower (NYSE:AMT) Director Eugene Reilly Purchases 5,554 Shares

American Tower Corporation (NYSE:AMT) Director Eugene Reilly bought 5,554 shares of the business’s stock in a transaction that occurred on Friday, October 31st. The shares were bought at an average cost of $178.99 per share, with a total value of $994,110.46. Following the completion of the purchase, the director directly owned 5,689 shares of the company’s stock, valued at $1,018,274.11. This represents a 4,114.07% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website.

American Tower Stock Performance

AMT opened at $180.37 on Wednesday. American Tower Corporation has a fifty-two week low of $172.51 and a fifty-two week high of $234.33. The stock has a market capitalization of $84.46 billion, a price-to-earnings ratio of 28.81, a PEG ratio of 1.08 and a beta of 0.86. The company has a fifty day moving average of $191.47 and a 200 day moving average of $207.29. The company has a debt-to-equity ratio of 3.24, a quick ratio of 0.95 and a current ratio of 0.89.

American Tower (NYSE:AMT) last issued its quarterly earnings data on Tuesday, October 28th. The real estate investment trust reported $2.78 EPS for the quarter, topping analysts’ consensus estimates of $2.64 by $0.14. American Tower had a net margin of 28.11% and a return on equity of 28.79%. The business had revenue of $2.72 billion during the quarter, compared to analysts’ expectations of $2.65 billion. During the same period last year, the company posted $2.52 EPS. The business’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 fiscal year.

American Tower Dividend Announcement

The firm 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. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date of this dividend was Tuesday, September 30th. American Tower’s dividend payout ratio (DPR) is presently 108.63%.

Institutional Investors Weigh In On American Tower

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Hopwood Financial Services Inc. lifted its holdings in American Tower by 100.0% during the 1st quarter. Hopwood Financial Services Inc. now owns 120 shares of the real estate investment trust’s stock valued at $26,000 after buying an additional 60 shares in the last quarter. Abound Wealth Management lifted its holdings 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 valued at $27,000 after buying an additional 81 shares in the last quarter. Legacy Investment Solutions LLC bought a new stake in American Tower during the 2nd quarter valued at about $31,000. Root Financial Partners LLC bought a new stake in American Tower during the 3rd quarter valued at about $32,000. Finally, Physician Wealth Advisors Inc. lifted its holdings in American Tower by 85.9% during the 3rd quarter. Physician Wealth Advisors Inc. now owns 171 shares of the real estate investment trust’s stock valued at $33,000 after buying an additional 79 shares in the last quarter. Institutional investors own 92.69% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have commented on AMT shares. Hsbc Global Res cut shares of American Tower from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 30th. HSBC lowered their target price on shares of American Tower from $235.00 to $205.00 in a report on Wednesday, October 29th. Royal Bank Of Canada set a $220.00 target price on shares of American Tower and gave the stock a “sector perform” rating in a report on Wednesday, October 1st. BMO Capital Markets lowered their target price on shares of American Tower from $220.00 to $215.00 and set an “outperform” rating for the company in a report on Wednesday, October 29th. Finally, TD Cowen lowered their target price on shares of American Tower from $249.00 to $235.00 and set a “buy” rating for the company in a report on Wednesday, October 29th. Two analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $231.11.

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.