American Tower Corporation $AMT Shares Acquired by Greenland Capital Management LP

Greenland Capital Management LP boosted its position in American Tower Corporation (NYSE:AMT) by 82.5% during the 2nd quarter, Holdings Channel reports. The fund owned 25,601 shares of the real estate investment trust’s stock after acquiring an additional 11,570 shares during the quarter. Greenland Capital Management LP’s holdings in American Tower were worth $5,658,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Nuveen LLC acquired a new stake in shares of American Tower in the 1st quarter valued at $991,525,000. Price T Rowe Associates Inc. MD lifted its holdings in American Tower by 39.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,144,040 shares of the real estate investment trust’s stock worth $1,772,144,000 after buying an additional 2,309,627 shares during the last quarter. Alyeska Investment Group L.P. acquired a new position in shares of American Tower during the 1st quarter worth about $162,127,000. Amundi increased its holdings in shares of American Tower by 35.5% in the 1st quarter. Amundi now owns 2,838,421 shares of the real estate investment trust’s stock valued at $645,694,000 after acquiring an additional 743,617 shares during the last quarter. Finally, T. Rowe Price Investment Management Inc. raised its position in shares of American Tower by 490.9% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 650,789 shares of the real estate investment trust’s stock worth $141,612,000 after acquiring an additional 540,648 shares in the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on AMT. HSBC reduced their price objective on shares of American Tower from $235.00 to $205.00 in a research report on Wednesday, October 29th. Morgan Stanley cut their target price on American Tower from $270.00 to $235.00 and set an “overweight” rating on the stock in a research report on Thursday, October 16th. TD Cowen decreased their target price on American Tower from $249.00 to $235.00 and set a “buy” rating for the company in a research report on Wednesday, October 29th. Argus set a $210.00 price target on American Tower in a research note on Thursday, October 30th. Finally, Royal Bank Of Canada set a $220.00 price objective on American Tower and gave the company a “sector perform” rating in a research note on Wednesday, October 1st. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $228.44.

Insider Activity at American Tower

In other news, Director Eugene F. Reilly bought 5,554 shares of the stock in a transaction dated Friday, October 31st. The shares were acquired at an average price of $178.99 per share, with a total value of $994,110.46. Following the completion of the acquisition, the director directly owned 5,689 shares in the company, valued at approximately $1,018,274.11. The trade was a 4,114.07% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.18% of the company’s stock.

American Tower Stock Performance

NYSE AMT opened at $181.63 on Wednesday. The firm has a market cap of $85.03 billion, a P/E ratio of 29.01, a P/E/G ratio of 1.08 and a beta of 0.85. American Tower Corporation has a 52-week low of $172.51 and a 52-week high of $234.33. The business’s 50-day moving average price is $187.84 and its 200 day moving average price is $204.69. The company has a quick ratio of 0.95, a current ratio of 0.89 and a debt-to-equity ratio of 3.24.

American Tower (NYSE:AMT) last posted its quarterly earnings data on Tuesday, October 28th. The real estate investment trust reported $2.78 earnings per share for the quarter, topping analysts’ consensus estimates of $2.64 by $0.14. The company had revenue of $2.72 billion during the quarter, compared to analysts’ expectations of $2.65 billion. American Tower had a return on equity of 28.79% and a net margin of 28.11%.The firm’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same period last year, the firm earned $2.52 EPS. American Tower has set its FY 2025 guidance at 10.600-10.720 EPS. On average, equities 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. Shareholders of record on Tuesday, September 30th were paid a $1.70 dividend. This represents a $6.80 annualized dividend and a yield of 3.7%. The ex-dividend date of this dividend was Tuesday, September 30th. American Tower’s payout ratio is currently 108.63%.

American Tower 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.