Blue Door Asset Management LLC Takes Position in American Tower Corporation $AMT

Blue Door Asset Management LLC acquired a new position in shares of American Tower Corporation (NYSE:AMT) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 14,800 shares of the real estate investment trust’s stock, valued at approximately $3,271,000. American Tower accounts for 1.7% of Blue Door Asset Management LLC’s portfolio, making the stock its 14th biggest position.

Other large investors have also recently bought and sold shares of the company. Legacy Investment Solutions LLC bought a new position in shares of American Tower during the second quarter valued at approximately $31,000. VSM Wealth Advisory LLC boosted its position in 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 valued at $34,000 after purchasing an additional 90 shares during the period. Rosenberg Matthew Hamilton grew its stake in American Tower by 86.0% during 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 during the last quarter. Saudi Central Bank acquired a new stake in American Tower in the first quarter worth $40,000. Finally, Winnow Wealth LLC acquired a new stake in American Tower in the second quarter worth $44,000. Institutional investors own 92.69% of the company’s stock.

Analysts Set New Price Targets

AMT has been the subject of several analyst reports. JPMorgan Chase & Co. reduced their price target on shares of American Tower from $255.00 to $250.00 and set an “overweight” rating for the company in a report on Wednesday, October 29th. HSBC reduced their target price on shares of American Tower from $235.00 to $205.00 in a research note on Wednesday, October 29th. TD Cowen dropped their price target on shares of American Tower from $249.00 to $235.00 and set a “buy” rating on the stock in a research note on Wednesday, October 29th. Wall Street Zen raised American Tower from a “sell” rating to a “hold” rating in a report on Sunday, October 12th. Finally, Wells Fargo & Company decreased their price objective on American Tower from $210.00 to $200.00 and set an “overweight” rating for the company in a report on Wednesday, October 29th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $228.00.

American Tower Trading Up 0.4%

American Tower stock opened at $180.19 on Thursday. American Tower Corporation has a 12-month low of $172.51 and a 12-month high of $234.33. The stock has a market capitalization of $84.35 billion, a PE ratio of 28.78, a price-to-earnings-growth ratio of 0.72 and a beta of 0.91. The firm has a 50 day simple moving average of $183.20 and a 200-day simple moving average of $200.86. 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 earnings results on Tuesday, October 28th. The real estate investment trust reported $2.78 earnings per share for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $2.65 billion. During the same period in the prior year, the firm posted $2.52 earnings per share. The firm’s revenue for the quarter was up 7.7% compared to the same quarter last year. American Tower has set its FY 2025 guidance at 10.600-10.720 EPS. As a group, equities research analysts expect that American Tower Corporation will post 10.14 EPS for the current fiscal year.

American Tower Dividend Announcement

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 paid 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 yield of 3.8%. American Tower’s dividend payout ratio (DPR) is currently 108.63%.

Insider Buying and Selling

In other American Tower news, 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 cost of $178.99 per share, for a total transaction of $994,110.46. Following the completion of the transaction, the director owned 5,689 shares in the company, valued at $1,018,274.11. The trade was a 4,114.07% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.17% of the company’s stock.

American Tower Profile

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.