Lecap Asset Management Ltd. Makes New $2.25 Million Investment in American Tower Corporation $AMT

Lecap Asset Management Ltd. purchased a new stake in American Tower Corporation (NYSE:AMT) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 11,685 shares of the real estate investment trust’s stock, valued at approximately $2,247,000. American Tower accounts for about 0.8% of Lecap Asset Management Ltd.’s holdings, making the stock its 28th biggest position.

Several other institutional investors have also made changes to their positions in the business. Abound Wealth Management raised its position in American Tower by 137.3% in the third quarter. Abound Wealth Management now owns 140 shares of the real estate investment trust’s stock worth $27,000 after purchasing an additional 81 shares in the last quarter. Legacy Investment Solutions LLC acquired a new position in shares of American Tower in the 2nd quarter worth approximately $31,000. VSM Wealth Advisory LLC lifted its position in shares of American Tower by 136.4% during the 2nd quarter. VSM Wealth Advisory LLC now owns 156 shares of the real estate investment trust’s stock worth $34,000 after buying an additional 90 shares during the period. Salomon & Ludwin LLC lifted its position in shares of American Tower by 147.9% during the 3rd quarter. Salomon & Ludwin LLC now owns 181 shares of the real estate investment trust’s stock worth $34,000 after buying an additional 108 shares during the period. Finally, City Holding Co. acquired a new stake in American Tower in the 3rd quarter valued at $35,000. 92.69% of the stock is currently owned by institutional investors and hedge funds.

American Tower Price Performance

AMT opened at $169.44 on Thursday. The company has a debt-to-equity ratio of 3.24, a current ratio of 0.89 and a quick ratio of 0.89. The stock has a market capitalization of $79.32 billion, a P/E ratio of 27.07, a price-to-earnings-growth ratio of 0.67 and a beta of 0.92. The company’s 50 day simple moving average is $178.35 and its 200-day simple moving average is $195.48. American Tower Corporation has a one year low of $169.40 and a one year high of $234.33.

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 (EPS) for the quarter, topping the consensus estimate of $2.64 by $0.14. The firm had revenue of $2.72 billion for the quarter, compared to the consensus estimate of $2.65 billion. American Tower had a return on equity of 28.79% and a net margin of 28.11%.The business’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.52 EPS. American Tower has set its FY 2025 guidance at 10.600-10.720 EPS. Sell-side analysts anticipate that American Tower Corporation will post 10.14 earnings per share for the current fiscal year.

American Tower Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 2nd. Investors of record on Monday, December 29th will be given a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a yield of 4.0%. The ex-dividend date is Monday, December 29th. American Tower’s dividend payout ratio (DPR) is presently 108.63%.

Insider Activity

In other American Tower news, major shareholder Tower Corp /Ma/ American sold 2,288,621 shares of the company’s stock in a transaction dated 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 directly owned 211,379 shares in the company, valued at approximately $14,743,685.25. This represents a 91.54% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Eugene F. Reilly purchased 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 transaction, the director owned 5,689 shares in the company, valued at $1,018,274.11. This trade represents a 4,114.07% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders own 0.17% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. HSBC cut their price objective on American Tower from $235.00 to $205.00 in a report on Wednesday, October 29th. JPMorgan Chase & Co. reduced their price target on shares of American Tower from $255.00 to $250.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 29th. Jefferies Financial Group dropped their price objective on shares of American Tower from $226.00 to $202.00 and set a “buy” rating for the company in a report on Tuesday, December 16th. Raymond James Financial reiterated a “strong-buy” rating and issued a $231.00 target price (down previously from $250.00) on shares of American Tower in a research note on Wednesday, October 29th. Finally, Royal Bank Of Canada restated a “sector perform” rating and set a $220.00 price target on shares of American Tower in a research report on Friday, December 19th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $226.61.

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.