Los Angeles Capital Management LLC Raises Position in American Tower Corporation $AMT

Los Angeles Capital Management LLC grew its position in American Tower Corporation (NYSE:AMT) by 52.5% in the second quarter, HoldingsChannel.com reports. The firm owned 321,661 shares of the real estate investment trust’s stock after acquiring an additional 110,671 shares during the period. Los Angeles Capital Management LLC’s holdings in American Tower were worth $71,094,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of AMT. RWA Wealth Partners LLC increased its stake in American Tower by 37.8% in the 2nd quarter. RWA Wealth Partners LLC now owns 3,157 shares of the real estate investment trust’s stock worth $698,000 after acquiring an additional 866 shares during the last quarter. AE Wealth Management LLC grew its holdings in shares of American Tower by 8.5% in the second quarter. AE Wealth Management LLC now owns 22,689 shares of the real estate investment trust’s stock valued at $5,015,000 after purchasing an additional 1,779 shares in the last quarter. Paradigm Asset Management Co. LLC bought a new stake in American Tower in the second quarter worth $1,171,000. Legacy Investment Solutions LLC purchased a new stake in American Tower during the second quarter valued at $31,000. Finally, Tabor Asset Management LP lifted its position in American Tower by 5.5% during the second quarter. Tabor Asset Management LP now owns 15,781 shares of the real estate investment trust’s stock valued at $3,488,000 after purchasing an additional 828 shares during the last quarter. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Insider Transactions at American Tower

In other news, Director Eugene F. Reilly acquired 5,554 shares of American Tower stock in a transaction on Friday, October 31st. The shares were bought at an average cost of $178.99 per share, for a total transaction 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. This trade represents a 4,114.07% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.17% of the stock is currently owned by company insiders.

American Tower Stock Down 0.1%

Shares of AMT opened at $177.86 on Friday. The firm has a fifty day moving average price of $189.98 and a 200-day moving average price of $206.61. 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 firm has a market capitalization of $83.28 billion, a P/E ratio of 28.41, a P/E/G ratio of 1.08 and a beta of 0.85. American Tower Corporation has a 12-month low of $172.51 and a 12-month high of $234.33.

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 for the quarter, beating analysts’ consensus estimates of $2.64 by $0.14. The company had revenue of $2.72 billion during the quarter, compared to analyst estimates of $2.65 billion. American Tower had a net margin of 28.11% and a return on equity of 28.79%. The firm’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same quarter last year, the business posted $2.52 EPS. American Tower has set its FY 2025 guidance at 10.600-10.720 EPS. Equities research analysts expect that American Tower Corporation will post 10.14 earnings per share for the current year.

American Tower Dividend Announcement

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

Analysts Set New Price Targets

Several analysts have recently issued reports on AMT shares. Morgan Stanley decreased their target price on shares of American Tower from $270.00 to $235.00 and set an “overweight” rating on the stock in a research report on Thursday, October 16th. Citigroup restated a “market outperform” rating on shares of American Tower in a research report on Wednesday, October 29th. JPMorgan Chase & Co. dropped their target price on American Tower from $255.00 to $250.00 and set an “overweight” rating for the company in a report on Wednesday, October 29th. Jefferies Financial Group cut their target price on American Tower from $281.00 to $226.00 and set a “buy” rating on the stock in a research report on Monday, October 13th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of American Tower in a research report on Wednesday, October 8th. Two analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $231.11.

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.