Exchange Traded Concepts LLC Boosts Stock Position in American Tower Corporation $AMT

Exchange Traded Concepts LLC increased its holdings in American Tower Corporation (NYSE:AMT) by 95.5% during the 3rd quarter, HoldingsChannel reports. The firm owned 132,680 shares of the real estate investment trust’s stock after buying an additional 64,807 shares during the period. Exchange Traded Concepts LLC’s holdings in American Tower were worth $25,517,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Blossom Wealth Management grew its stake in shares of American Tower by 1.8% in the 2nd quarter. Blossom Wealth Management now owns 2,601 shares of the real estate investment trust’s stock worth $575,000 after buying an additional 45 shares in the last quarter. TFG Advisers LLC lifted its holdings in shares of American Tower by 0.3% in the 2nd quarter. TFG Advisers LLC now owns 16,186 shares of the real estate investment trust’s stock valued at $3,578,000 after acquiring an additional 47 shares during the last quarter. Novem Group grew its position in American Tower by 3.8% in the second quarter. Novem Group now owns 1,316 shares of the real estate investment trust’s stock worth $291,000 after acquiring an additional 48 shares in the last quarter. Analyst IMS Investment Management Services Ltd. increased its stake in American Tower by 3.6% during the second quarter. Analyst IMS Investment Management Services Ltd. now owns 1,370 shares of the real estate investment trust’s stock worth $303,000 after acquiring an additional 48 shares during the last quarter. Finally, Marion Wealth Management raised its position in American Tower by 0.8% during the second quarter. Marion Wealth Management now owns 5,924 shares of the real estate investment trust’s stock valued at $1,309,000 after purchasing an additional 48 shares during the period. Hedge funds and other institutional investors own 92.69% of the company’s stock.

American Tower Stock Down 1.1%

NYSE:AMT opened at $172.35 on Monday. The company has a market cap of $80.69 billion, a price-to-earnings ratio of 27.53, a price-to-earnings-growth ratio of 0.69 and a beta of 0.91. American Tower Corporation has a twelve month low of $171.95 and a twelve month high of $234.33. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 3.24. The stock has a fifty day simple moving average of $181.93 and a 200-day simple moving average of $199.03.

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

American Tower Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, February 2nd. Stockholders of record on Monday, December 29th will be given a dividend of $1.70 per share. The ex-dividend date of this dividend is Monday, December 29th. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.9%. American Tower’s dividend payout ratio (DPR) is 108.63%.

Analyst Upgrades and Downgrades

AMT has been the subject of a number of recent research reports. TD Cowen dropped their target price on American Tower from $249.00 to $235.00 and set a “buy” rating for the company in a report on Wednesday, October 29th. UBS Group reaffirmed a “buy” rating on shares of American Tower in a research note on Wednesday, December 10th. Argus set a $210.00 target price 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 report on Monday, December 15th. Finally, Royal Bank Of Canada reiterated a “sector perform” rating and set a $220.00 price target on shares of American Tower in a report on Friday. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, American Tower presently has an average rating of “Moderate Buy” and a consensus price target of $226.67.

Insider Activity at American Tower

In other news, Director Eugene F. Reilly purchased 5,554 shares of the stock in a transaction that occurred on 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 acquisition, the director 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 transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, major shareholder Tower Corp /Ma/ American sold 2,288,621 shares of the stock in a transaction that occurred 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 completion of the transaction, 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 SEC filing for this sale provides additional information. Insiders own 0.17% of the company’s stock.

American Tower Company Profile

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.