Strategic Planning Group LLC Raises Stake in American Tower Corporation $AMT

Strategic Planning Group LLC boosted its holdings in American Tower Corporation (NYSE:AMT) by 32.1% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 33,005 shares of the real estate investment trust’s stock after buying an additional 8,028 shares during the period. Strategic Planning Group LLC’s holdings in American Tower were worth $6,348,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in AMT. Blossom Wealth Management boosted its position in American Tower by 1.8% during the 2nd quarter. Blossom Wealth Management now owns 2,601 shares of the real estate investment trust’s stock worth $575,000 after purchasing an additional 45 shares during the period. TFG Advisers LLC lifted its stake in shares of American Tower by 0.3% during the second quarter. TFG Advisers LLC now owns 16,186 shares of the real estate investment trust’s stock worth $3,578,000 after purchasing an additional 47 shares in the last quarter. Novem Group boosted its position in shares of American Tower by 3.8% in the second quarter. Novem Group now owns 1,316 shares of the real estate investment trust’s stock worth $291,000 after buying an additional 48 shares during the period. Analyst IMS Investment Management Services Ltd. grew its stake in shares of American Tower by 3.6% in the second quarter. Analyst IMS Investment Management Services Ltd. now owns 1,370 shares of the real estate investment trust’s stock valued at $303,000 after buying an additional 48 shares in the last quarter. Finally, Marion Wealth Management raised its holdings in shares of American Tower by 0.8% during the 2nd quarter. Marion Wealth Management now owns 5,924 shares of the real estate investment trust’s stock valued at $1,309,000 after buying an additional 48 shares during the period. Institutional investors and hedge funds own 92.69% of the company’s stock.

American Tower Stock Performance

American Tower stock 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. American Tower Corporation has a 12 month low of $169.40 and a 12 month high of $234.33. The company has a fifty day moving average price of $178.35 and a two-hundred day moving average price of $195.48. The company has a market cap of $79.32 billion, a PE ratio of 27.07, a P/E/G ratio of 0.67 and a beta of 0.92.

American Tower (NYSE:AMT) last posted its quarterly earnings results on Tuesday, October 28th. The real estate investment trust reported $2.78 earnings per share (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 company had revenue of $2.72 billion for the quarter, compared to the consensus estimate of $2.65 billion. During the same period last year, the firm posted $2.52 EPS. The company’s revenue for the quarter was up 7.7% on a year-over-year basis. American Tower has set its FY 2025 guidance at 10.600-10.720 EPS. Research analysts expect that American Tower Corporation will post 10.14 earnings per share for the current year.

American Tower Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, February 2nd. Stockholders of record on Monday, December 29th will be issued a dividend of $1.70 per share. The ex-dividend date of this dividend is Monday, December 29th. This represents a $6.80 annualized dividend and a dividend yield of 4.0%. American Tower’s dividend payout ratio is 108.63%.

Analysts Set New Price Targets

AMT has been the subject of a number of analyst reports. Morgan Stanley decreased their price target on American Tower from $255.00 to $235.00 and set an “overweight” rating for the company in a report on Thursday, December 4th. Raymond James Financial restated a “strong-buy” rating and issued a $231.00 target price (down from $250.00) on shares of American Tower in a research note on Wednesday, October 29th. UBS Group reaffirmed a “buy” rating on shares of American Tower in a research note on Wednesday, December 10th. Jefferies Financial Group decreased their price objective on shares of American Tower from $226.00 to $202.00 and set a “buy” rating for the company in a research report on Tuesday, December 16th. Finally, New Street Research raised American Tower from a “neutral” rating to a “buy” rating and set a $203.00 target price on the stock in a research report on Monday. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $226.61.

Insider Buying and Selling

In other American Tower news, major shareholder Tower Corp /Ma/ American sold 2,288,621 shares of the stock in a transaction on Tuesday, December 9th. The stock was sold at an average price of $69.75, for a total value of $159,631,314.75. Following the sale, the insider directly owned 211,379 shares of the company’s stock, valued at $14,743,685.25. This trade represents a 91.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Eugene F. Reilly purchased 5,554 shares of American Tower stock in a transaction dated Friday, October 31st. The shares were purchased at an average cost of $178.99 per share, with a total value of $994,110.46. Following the acquisition, the director 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 corporate insiders.

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.