Texas Yale Capital Corp. Increases Stake in American Tower Corporation $AMT

by · The Cerbat Gem

Texas Yale Capital Corp. boosted its position in shares of American Tower Corporation (NYSE:AMT – Free Report) by 4.6% in the second quarter, HoldingsChannel reports. The institutional investor owned 14,984 shares of the real estate investment trust’s stock after acquiring an additional 662 shares during the quarter. Texas Yale Capital Corp.’s holdings in American Tower were worth $3,312,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in AMT. Nuveen LLC purchased a new stake in American Tower in the first quarter worth about $991,525,000. Price T Rowe Associates Inc. MD raised its position in shares of American Tower by 39.6% in 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 acquiring an additional 2,309,627 shares in the last quarter. Alyeska Investment Group L.P. purchased a new position in shares of American Tower in the 1st quarter valued at approximately $162,127,000. Amundi boosted its position in shares of American Tower by 35.5% during the first quarter. Amundi now owns 2,838,421 shares of the real estate investment trust’s stock valued at $645,694,000 after purchasing an additional 743,617 shares in the last quarter. Finally, T. Rowe Price Investment Management Inc. boosted its position in shares of American Tower by 490.9% during the first quarter. T. Rowe Price Investment Management Inc. now owns 650,789 shares of the real estate investment trust’s stock valued at $141,612,000 after purchasing an additional 540,648 shares in the last quarter. 92.69% of the stock is owned by hedge funds and other institutional investors.

American Tower Trading Down 0.8%

Shares of NYSE AMT opened at $177.95 on Friday. The firm’s 50 day moving average price is $190.49 and its 200-day moving average price is $206.89. American Tower Corporation has a 52-week low of $172.51 and a 52-week high of $234.33. The company has a debt-to-equity ratio of 3.24, a quick ratio of 0.95 and a current ratio of 0.89. The company has a market cap of $83.32 billion, a PE ratio of 28.43, a P/E/G ratio of 1.08 and a beta of 0.85.

American Tower (NYSE:AMT – Get Free Report) last posted its quarterly earnings results on Tuesday, October 28th. The real estate investment trust reported $2.78 earnings per share for the quarter, topping the consensus estimate of $2.64 by $0.14. American Tower had a return on equity of 28.79% and a net margin of 28.11%.The firm had revenue of $2.72 billion during the quarter, compared to analysts’ expectations of $2.65 billion. During the same quarter in the previous year, the business earned $2.52 earnings per share. The company’s revenue was up 7.7% on a year-over-year basis. 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 EPS for the current fiscal year.

American Tower Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, October 20th. Stockholders of record on Tuesday, September 30th were paid a $1.70 dividend. The ex-dividend date was Tuesday, September 30th. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.8%. American Tower’s payout ratio is currently 108.63%.

Insider Buying and Selling at American Tower

In related news, Director Eugene F. Reilly acquired 5,554 shares of the stock in a transaction that occurred on Friday, October 31st. The shares were bought at an average price of $178.99 per share, for a total transaction of $994,110.46. Following the completion of the transaction, the director directly owned 5,689 shares in the company, valued at approximately $1,018,274.11. This trade represents 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. 0.17% of the stock is owned by insiders.

Analyst Ratings Changes

AMT has been the subject of several recent research reports. The Goldman Sachs Group lowered their price objective on American Tower from $250.00 to $230.00 and set a “buy” rating for the company in a research report on Wednesday, October 29th. Jefferies Financial Group decreased their price target on shares of American Tower from $281.00 to $226.00 and set a “buy” rating for the company in a research note on Monday, October 13th. Barclays lifted their price target on shares of American Tower from $250.00 to $251.00 and gave the company an “overweight” rating in a research report on Friday, October 17th. Weiss Ratings restated a “hold (c-)” rating on shares of American Tower in a report on Wednesday, October 8th. Finally, Royal Bank Of Canada set a $220.00 target price on shares of American Tower and gave the company a “sector perform” rating in a report on Wednesday, October 1st. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, American Tower presently has an average rating of “Moderate Buy” and a consensus target price of $231.11.

Get Our Latest Research Report on AMT

American Tower Profile

(Free Report)

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.

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