Swedbank AB Buys 16,904 Shares of American Tower Corporation $AMT

Swedbank AB grew its stake in shares of American Tower Corporation (NYSE:AMT) by 2.8% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 611,803 shares of the real estate investment trust’s stock after acquiring an additional 16,904 shares during the period. Swedbank AB owned about 0.13% of American Tower worth $117,662,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of AMT. IFM Investors Pty Ltd lifted its holdings in shares of American Tower by 0.9% in the 3rd quarter. IFM Investors Pty Ltd now owns 116,680 shares of the real estate investment trust’s stock worth $22,667,000 after buying an additional 1,001 shares during the period. Revisor Wealth Management LLC raised its holdings in shares of American Tower by 12.2% in the third quarter. Revisor Wealth Management LLC now owns 2,825 shares of the real estate investment trust’s stock valued at $528,000 after acquiring an additional 308 shares in the last quarter. GLOBALT Investments LLC GA raised its holdings in shares of American Tower by 2.2% in the third quarter. GLOBALT Investments LLC GA now owns 6,222 shares of the real estate investment trust’s stock valued at $1,197,000 after acquiring an additional 136 shares in the last quarter. Farther Finance Advisors LLC grew its holdings in American Tower by 16.2% during the 3rd quarter. Farther Finance Advisors LLC now owns 7,365 shares of the real estate investment trust’s stock worth $1,416,000 after acquiring an additional 1,026 shares in the last quarter. Finally, Baxter Bros Inc. bought a new position in American Tower during the 3rd quarter worth about $337,000. Institutional investors own 92.69% of the company’s stock.

Analyst Ratings Changes

AMT has been the subject of several research reports. Wall Street Zen raised shares of American Tower from a “sell” rating to a “hold” rating in a research report on Sunday, October 12th. Jefferies Financial Group lowered their target price on American Tower from $226.00 to $202.00 and set a “buy” rating for the company in a report on Tuesday, December 16th. BMO Capital Markets cut their price target on American Tower from $215.00 to $210.00 and set an “outperform” rating on the stock in a report on Wednesday, December 3rd. JPMorgan Chase & Co. reduced their price target on American Tower from $255.00 to $250.00 and set an “overweight” rating for the company in a research report on Wednesday, October 29th. Finally, The Goldman Sachs Group dropped their price objective on American Tower from $250.00 to $230.00 and set a “buy” rating on the stock in a research report on Wednesday, October 29th. Two analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $226.67.

Insider Activity at American Tower

In other American Tower news, major shareholder Tower Corp /Ma/ American sold 2,288,621 shares of the company’s stock in a transaction that occurred on Tuesday, December 9th. The shares were sold at an average price of $69.75, for a total transaction of $159,631,314.75. Following the transaction, the insider owned 211,379 shares in the company, valued at approximately $14,743,685.25. This represents a 91.54% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Eugene F. Reilly acquired 5,554 shares of the stock in a transaction dated Friday, October 31st. The shares were bought at an average price 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 approximately $1,018,274.11. This trade represents a 4,114.07% increase in their position. The SEC filing for this purchase provides additional information. 0.17% of the stock is currently owned by insiders.

American Tower Stock Performance

Shares of AMT opened at $174.80 on Thursday. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 3.24. The firm has a market cap of $81.83 billion, a PE ratio of 27.92, a P/E/G ratio of 0.70 and a beta of 0.91. American Tower Corporation has a 12 month low of $170.77 and a 12 month high of $234.33. The stock has a fifty day moving average price of $181.18 and a 200-day moving average price of $198.28.

American Tower (NYSE:AMT) last announced its earnings results on Tuesday, October 28th. The real estate investment trust reported $2.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.64 by $0.14. The company had revenue of $2.72 billion for the quarter, compared to analyst estimates of $2.65 billion. American Tower had a return on equity of 28.79% and a net margin of 28.11%.The firm’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same period in the prior year, the company posted $2.52 EPS. American Tower has set its FY 2025 guidance at 10.600-10.720 EPS. Equities research analysts predict that American Tower Corporation will post 10.14 earnings per share for the current fiscal year.

American Tower Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, February 2nd. Investors of record on Monday, December 29th will be paid a $1.70 dividend. The ex-dividend date is Monday, December 29th. This represents a $6.80 dividend on an annualized basis and a yield of 3.9%. American Tower’s dividend payout ratio (DPR) is 108.63%.

American Tower Company Profile

American Tower (NYSE: AMT) is a real estate investment trust (REIT) that owns, operates and develops wireless and broadcast communications infrastructure. The company’s core business is leasing space on communications sites — including towers, rooftops and other structures — to wireless carriers, broadcasters, government agencies and enterprise customers. Its business model centers on long-term site leases and contracts that provide recurring revenue tied to the footprint and density of wireless networks.

Beyond traditional tower assets, American Tower offers a range of infrastructure and network services to support mobile, broadband and broadcast connectivity.