American Tower Corporation $AMT Shares Acquired by Perpetual Ltd

by · The Cerbat Gem

Perpetual Ltd boosted its position in American Tower Corporation (NYSE:AMT – Free Report) by 1,833.4% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 189,586 shares of the real estate investment trust’s stock after buying an additional 179,780 shares during the period. Perpetual Ltd’s holdings in American Tower were worth $36,461,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of AMT. Legacy Investment Solutions LLC acquired a new stake in American Tower in the second quarter valued at $31,000. VSM Wealth Advisory LLC raised its stake 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 last quarter. Rosenberg Matthew Hamilton boosted its position in shares of American Tower by 86.0% in the 2nd quarter. Rosenberg Matthew Hamilton now owns 173 shares of the real estate investment trust’s stock worth $38,000 after buying an additional 80 shares in the last quarter. Saudi Central Bank acquired a new stake in American Tower in the 1st quarter valued at about $40,000. Finally, Winnow Wealth LLC purchased a new position in American Tower during the 2nd quarter valued at about $44,000. 92.69% of the stock is currently owned by hedge funds and other institutional investors.

American Tower Trading Down 1.1%

Shares of AMT stock opened at $172.35 on Friday. The firm’s 50-day simple moving average is $181.93 and its 200-day simple moving average is $199.24. 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 1-year low of $171.95 and a 1-year high of $234.33. The firm has a market cap of $80.69 billion, a P/E ratio of 27.53, a PEG ratio of 0.70 and a beta of 0.91.

American Tower (NYSE:AMT – Get Free Report) last released its earnings results on Tuesday, October 28th. The real estate investment trust reported $2.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.64 by $0.14. The firm had revenue of $2.72 billion during the quarter, compared to the consensus estimate 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 in the previous year, the firm earned $2.52 earnings per share. American Tower has set its FY 2025 guidance at 10.600-10.720 EPS. As a group, equities analysts forecast that American Tower Corporation will post 10.14 EPS for the current year.

American Tower Announces Dividend

The company also recently announced 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 annualized dividend and a dividend yield of 3.9%. The ex-dividend date of this dividend is Monday, December 29th. American Tower’s dividend payout ratio (DPR) is 108.63%.

Insiders Place Their Bets

In related news, major shareholder Tower Corp /Ma/ American sold 2,288,621 shares of American Tower 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 transaction, the insider owned 211,379 shares in the company, valued at approximately $14,743,685.25. This trade represents a 91.54% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Eugene F. Reilly purchased 5,554 shares of the company’s stock in a transaction on Friday, October 31st. The shares were purchased 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 $1,018,274.11. The trade was a 4,114.07% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 0.17% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities analysts have issued reports on AMT shares. Barclays restated an “equal weight” rating and set a $200.00 target price (down previously from $203.00) on shares of American Tower in a research report on Monday, December 1st. JPMorgan Chase & Co. dropped their price objective on shares of American Tower from $255.00 to $250.00 and set an “overweight” rating for the company in a research note on Wednesday, October 29th. Morgan Stanley cut their price objective on American Tower from $255.00 to $235.00 and set an “overweight” rating for the company in a research report on Thursday, December 4th. UBS Group reiterated a “buy” rating on shares of American Tower in a report on Wednesday, December 10th. Finally, Raymond James Financial reissued a “strong-buy” rating and set a $231.00 price target (down previously from $250.00) on shares of American Tower 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 stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $226.67.

Get Our Latest Analysis on AMT

About American Tower

(Free Report)

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.

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