Bamco Inc. NY Lowers Stock Holdings in American Tower Corporation $AMT

Bamco Inc. NY lowered its holdings in American Tower Corporation (NYSE:AMT) by 18.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 567,767 shares of the real estate investment trust’s stock after selling 131,909 shares during the period. Bamco Inc. NY’s holdings in American Tower were worth $125,488,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. increased its holdings in shares of American Tower by 0.3% during the 2nd quarter. Vanguard Group Inc. now owns 63,028,367 shares of the real estate investment trust’s stock worth $13,930,530,000 after buying an additional 218,881 shares during the last quarter. JPMorgan Chase & Co. lifted its position in 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 in the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of American Tower by 39.6% during the first 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 purchasing an additional 2,309,627 shares in the last quarter. Invesco Ltd. lifted its holdings in 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 buying an additional 708,808 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in American Tower by 1.4% in the first quarter. Dimensional Fund Advisors LP now owns 6,534,862 shares of the real estate investment trust’s stock valued at $1,421,965,000 after purchasing an additional 88,120 shares during the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

American Tower Stock Performance

Shares of American Tower stock opened at $180.95 on Friday. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 3.24. American Tower Corporation has a 12 month low of $172.51 and a 12 month high of $234.33. The business has a fifty day simple moving average of $182.83 and a 200-day simple moving average of $200.51. The stock has a market cap of $84.71 billion, a PE ratio of 28.91, a price-to-earnings-growth ratio of 0.73 and a beta of 0.91.

American Tower (NYSE:AMT) last released its quarterly earnings results 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 for 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 for the quarter was up 7.7% on a year-over-year basis. During the same quarter last year, the firm earned $2.52 EPS. American Tower has set its FY 2025 guidance at 10.600-10.720 EPS. On average, sell-side analysts anticipate that American Tower Corporation will post 10.14 EPS for the current fiscal year.

American Tower Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 2nd. Shareholders of record on Monday, December 29th will be issued a $1.70 dividend. The ex-dividend date of this dividend is Monday, December 29th. This represents a $6.80 dividend on an annualized basis and a yield of 3.8%. 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 the company’s stock in a transaction on Tuesday, December 9th. The shares were sold at an average price of $69.75, for a total transaction of $159,631,314.75. Following the completion of the transaction, the insider directly owned 211,379 shares in the company, valued at $14,743,685.25. This represents a 91.54% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Eugene F. Reilly acquired 5,554 shares of the business’s stock in a transaction dated Friday, October 31st. The shares were bought at an average cost of $178.99 per share, with a total value of $994,110.46. Following the transaction, 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 position. The disclosure for this purchase is available in the SEC filing. Insiders own 0.17% of the company’s stock.

Wall Street Analysts Forecast Growth

AMT has been the topic of a number of research analyst reports. Argus set a $210.00 price objective on shares of American Tower in a research note on Thursday, October 30th. Weiss Ratings restated a “hold (c)” rating on shares of American Tower in a research report on Monday. JPMorgan Chase & Co. decreased their target price on shares of American Tower from $255.00 to $250.00 and set an “overweight” rating for the company in a research report on Wednesday, October 29th. UBS Group reissued a “buy” rating on shares of American Tower in a report on Wednesday. Finally, Barclays reiterated an “equal weight” rating and set a $200.00 price objective (down previously from $203.00) on shares of American Tower in a research note on Monday, December 1st. Two investment analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat, American Tower presently has a consensus rating of “Moderate Buy” and a consensus price target of $228.00.

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.