Koa Wealth Management LLC Grows Holdings in American Tower Corporation $AMT

Koa Wealth Management LLC grew its stake in American Tower Corporation (NYSE:AMT) by 28.2% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 19,153 shares of the real estate investment trust’s stock after purchasing an additional 4,209 shares during the quarter. American Tower comprises about 2.7% of Koa Wealth Management LLC’s holdings, making the stock its 8th biggest holding. Koa Wealth Management LLC’s holdings in American Tower were worth $3,684,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Norges Bank bought a new position in American Tower in the second quarter worth about $1,371,875,000. JPMorgan Chase & Co. grew its holdings in shares of American Tower by 24.3% during the 2nd quarter. JPMorgan Chase & Co. now owns 12,666,082 shares of the real estate investment trust’s stock worth $2,799,458,000 after acquiring an additional 2,474,328 shares during the period. Viking Global Investors LP raised its position in shares of American Tower by 233.5% in the 2nd quarter. Viking Global Investors LP now owns 2,797,125 shares of the real estate investment trust’s stock worth $618,221,000 after acquiring an additional 1,958,329 shares in the last quarter. Invesco Ltd. raised its position in shares of American Tower by 11.9% in the 2nd quarter. Invesco Ltd. now owns 6,680,524 shares of the real estate investment trust’s stock worth $1,476,529,000 after acquiring an additional 708,808 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its stake in shares of American Tower by 13.7% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 3,605,059 shares of the real estate investment trust’s stock valued at $796,790,000 after purchasing an additional 434,537 shares during the period. 92.69% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at American Tower

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 transaction of $159,631,314.75. Following the sale, the insider directly owned 211,379 shares in the company, valued at approximately $14,743,685.25. This trade represents a 91.54% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Eugene F. Reilly bought 5,554 shares of American Tower stock in a transaction on Friday, October 31st. The stock was acquired 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 in the company, valued at approximately $1,018,274.11. This represents a 4,114.07% increase in their position. The SEC filing for this purchase provides additional information. Corporate insiders own 0.17% of the company’s stock.

Wall Street Analyst Weigh In

AMT has been the topic of several recent research reports. The Goldman Sachs Group reduced their price target on American Tower from $250.00 to $230.00 and set a “buy” rating on the stock in a research note on Wednesday, October 29th. TD Cowen reduced their target price on shares of American Tower from $249.00 to $235.00 and set a “buy” rating on the stock in a research report on Wednesday, October 29th. BMO Capital Markets lowered shares of American Tower from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $210.00 to $185.00 in a research note on Friday, January 9th. New Street Research raised shares of American Tower from a “neutral” rating to a “buy” rating and set a $203.00 price objective on the stock in a research note on Monday, January 5th. Finally, Raymond James Financial restated a “strong-buy” rating and issued a $231.00 price objective (down previously from $250.00) on shares of American Tower in a report on Wednesday, October 29th. Two research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $220.26.

American Tower Price Performance

AMT opened at $181.54 on Friday. The firm has a market cap of $84.99 billion, a PE ratio of 29.00, a P/E/G ratio of 0.71 and a beta of 0.92. The stock has a 50-day moving average price of $177.74 and a 200-day moving average price of $193.71. American Tower Corporation has a 1 year low of $166.88 and a 1 year high of $234.33. 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 (NYSE:AMT) last released 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 business 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%. American Tower’s revenue was up 7.7% compared to the same quarter last year. During the same period last year, the business earned $2.52 EPS. American Tower has set its FY 2025 guidance at 10.600-10.720 EPS. Sell-side analysts predict that American Tower Corporation will post 10.14 earnings per share for the current fiscal year.

American Tower Announces Dividend

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 issued a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date is Monday, December 29th. American Tower’s payout ratio is presently 108.63%.

American Tower 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.