Corient Private Wealth LLC Has $142.64 Million Stock Position in American Tower Corporation $AMT

Corient Private Wealth LLC lessened its holdings in American Tower Corporation (NYSE:AMT) by 0.5% during the second quarter, HoldingsChannel reports. The fund owned 645,339 shares of the real estate investment trust’s stock after selling 3,474 shares during the quarter. Corient Private Wealth LLC’s holdings in American Tower were worth $142,639,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Norges Bank bought a new position in shares of American Tower in the second quarter valued at approximately $1,371,875,000. JPMorgan Chase & Co. raised its position in American Tower by 24.3% in the 2nd quarter. JPMorgan Chase & Co. now owns 12,666,082 shares of the real estate investment trust’s stock valued at $2,799,458,000 after buying an additional 2,474,328 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in American Tower by 39.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,144,040 shares of the real estate investment trust’s stock valued at $1,772,144,000 after acquiring an additional 2,309,627 shares in the last quarter. Viking Global Investors LP grew its stake 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. Finally, Alyeska Investment Group L.P. purchased a new stake in shares of American Tower in the first quarter valued at about $162,127,000. Institutional investors own 92.69% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on AMT shares. Argus set a $210.00 price target on shares of American Tower in a report on Thursday, October 30th. Wells Fargo & Company cut their target price on American Tower from $210.00 to $200.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 29th. Royal Bank Of Canada set a $220.00 price target on American Tower and gave the company a “sector perform” rating in a research report on Wednesday, October 1st. Wall Street Zen upgraded American Tower from a “sell” rating to a “hold” rating in a report on Sunday, October 12th. Finally, TD Cowen reduced their price objective on American Tower from $249.00 to $235.00 and set a “buy” rating for the company in a research note on Wednesday, October 29th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, American Tower has a consensus rating of “Moderate Buy” and an average target price of $228.00.

Insider Transactions at American Tower

In other American Tower news, Director Eugene F. Reilly bought 5,554 shares of American Tower stock in a transaction dated Friday, October 31st. The stock was purchased at an average price of $178.99 per share, for a total transaction of $994,110.46. Following the completion of the purchase, the director directly owned 5,689 shares of the company’s stock, 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 legal filing with the SEC, which is accessible through this link. Also, major shareholder Tower Corp /Ma/ American sold 2,288,621 shares of the business’s stock in a transaction that occurred 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 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 disclosure for this sale is available in the SEC filing. 0.18% of the stock is owned by company insiders.

American Tower Price Performance

American Tower stock opened at $180.95 on Monday. The business’s 50 day simple moving average is $182.83 and its 200 day simple moving average is $200.34. American Tower Corporation has a 12 month low of $172.51 and a 12 month high of $234.33. The company has a market cap of $84.71 billion, a price-to-earnings ratio of 28.91, a PEG ratio of 0.72 and a beta of 0.91. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 3.24.

American Tower (NYSE:AMT) last issued its earnings results on Tuesday, October 28th. The real estate investment trust reported $2.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.64 by $0.14. The firm had revenue of $2.72 billion for the quarter, compared to analyst estimates of $2.65 billion. American Tower had a return on equity of 28.79% and a net margin of 28.11%.The business’s revenue was up 7.7% on a year-over-year basis. During the same period in the previous year, the company posted $2.52 earnings per share. American Tower has set its FY 2025 guidance at 10.600-10.720 EPS. Sell-side analysts forecast that American Tower Corporation will post 10.14 EPS for the current year.

American Tower Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 2nd. Shareholders of record on Monday, December 29th will be issued 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 is 108.63%.

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.