American Tower Corporation $AMT Shares Purchased by Carnegie Investment Counsel

Carnegie Investment Counsel increased its holdings in American Tower Corporation (NYSE:AMT) by 3.1% in the 3rd quarter, HoldingsChannel reports. The fund owned 128,666 shares of the real estate investment trust’s stock after purchasing an additional 3,835 shares during the quarter. Carnegie Investment Counsel’s holdings in American Tower were worth $24,745,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. New Hampshire Trust grew its holdings in shares of American Tower by 0.8% during the 3rd quarter. New Hampshire Trust now owns 9,026 shares of the real estate investment trust’s stock worth $1,736,000 after purchasing an additional 71 shares during the period. One Plus One Wealth Management LLC lifted its position in American Tower by 3.3% in the third quarter. One Plus One Wealth Management LLC now owns 3,568 shares of the real estate investment trust’s stock valued at $686,000 after buying an additional 115 shares during the last quarter. Burney Co. boosted its stake in American Tower by 1.6% during the third quarter. Burney Co. now owns 28,467 shares of the real estate investment trust’s stock worth $5,475,000 after buying an additional 440 shares during the period. SWS Partners boosted its stake in American Tower by 972.4% during the third quarter. SWS Partners now owns 86,780 shares of the real estate investment trust’s stock worth $16,690,000 after buying an additional 78,688 shares during the period. Finally, Trust Co. of Toledo NA OH increased its position in shares of American Tower by 4.8% during the third quarter. Trust Co. of Toledo NA OH now owns 9,066 shares of the real estate investment trust’s stock valued at $1,744,000 after acquiring an additional 413 shares during the last quarter. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Wall Street Analyst Weigh In

AMT has been the subject of a number of research analyst reports. Wells Fargo & Company lowered their price objective on shares of American Tower from $210.00 to $200.00 and set an “overweight” rating for the company in a research report on Wednesday, October 29th. Jefferies Financial Group decreased their price target on American Tower from $226.00 to $202.00 and set a “buy” rating on the stock in a research note on Tuesday, December 16th. Citigroup restated a “market outperform” rating on shares of American Tower in a research report on Wednesday, October 29th. Barclays reiterated an “equal weight” rating and issued a $200.00 price objective (down previously from $203.00) on shares of American Tower in a report on Monday, December 1st. Finally, JPMorgan Chase & Co. lowered their target price on American Tower from $255.00 to $250.00 and set an “overweight” rating for the company in a 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 company’s stock. Based on data from MarketBeat, American Tower currently has a consensus rating of “Moderate Buy” and a consensus target price of $226.67.

Insider Activity at American Tower

In other news, Director Eugene F. Reilly acquired 5,554 shares of American Tower stock in a transaction dated Friday, October 31st. The shares were acquired at an average cost of $178.99 per share, for a total transaction of $994,110.46. Following the acquisition, the director owned 5,689 shares of the company’s stock, valued at $1,018,274.11. This trade represents a 4,114.07% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, major shareholder Tower Corp /Ma/ American sold 2,288,621 shares of the business’s stock in a transaction on Tuesday, December 9th. The stock was sold at an average price of $69.75, for a total transaction of $159,631,314.75. Following the transaction, the insider owned 211,379 shares of the company’s stock, valued at approximately $14,743,685.25. The trade was a 91.54% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.17% of the stock is owned by company insiders.

American Tower Stock Up 1.0%

American Tower stock opened at $176.60 on Friday. The firm has a market capitalization of $82.68 billion, a P/E ratio of 28.21, a P/E/G ratio of 0.70 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 Corporation has a twelve month low of $170.77 and a twelve month high of $234.33. The stock’s fifty day simple moving average is $180.54 and its 200-day simple moving average is $197.87.

American Tower (NYSE:AMT) last released its earnings results on Tuesday, October 28th. The real estate investment trust reported $2.78 EPS for the quarter, topping the consensus estimate 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 analysts’ expectations of $2.65 billion. During the same period in the previous year, the firm posted $2.52 EPS. American Tower’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. As a group, equities analysts expect that American Tower Corporation will post 10.14 earnings per share for the current fiscal 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 paid a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date is Monday, December 29th. American Tower’s dividend payout ratio is presently 108.63%.

American Tower 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.