Asset Management One Co. Ltd. Raises Stock Position in American Tower Corporation $AMT

Key Points

• Asset Management One Co. Ltd. has increased its stake in American Tower Corporation by 1.8%, owning a total of 200,060 shares valued at approximately $44.2 million as of the latest SEC filing.
• American Tower announced a quarterly dividend of $1.70 per share, resulting in an annualized dividend yield of 3.6%, despite a significant dividend payout ratio of 247.27%.
• Recent earnings revealed a beat against consensus estimates, with American Tower reporting $2.60 EPS and a revenue of $2.63 billion for the quarter, although this marks a 9.4% decline from the previous year.

Asset Management One Co. Ltd. grew its holdings in shares of American Tower Corporation (NYSE:AMT - Free Report) by 1.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 200,060 shares of the real estate investment trust's stock after purchasing an additional 3,467 shares during the period. Asset Management One Co. Ltd.'s holdings in American Tower were worth $44,217,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of AMT. Brighton Jones LLC increased its stake in American Tower by 113.0% during the fourth quarter. Brighton Jones LLC now owns 3,966 shares of the real estate investment trust's stock worth $727,000 after purchasing an additional 2,104 shares during the period. GAMMA Investing LLC increased its stake in shares of American Tower by 9.0% during the first quarter. GAMMA Investing LLC now owns 7,821 shares of the real estate investment trust's stock worth $1,702,000 after buying an additional 648 shares during the period. Golden State Wealth Management LLC increased its stake in shares of American Tower by 643.0% during the first quarter. Golden State Wealth Management LLC now owns 2,229 shares of the real estate investment trust's stock worth $485,000 after buying an additional 1,929 shares during the period. Sequoia Financial Advisors LLC increased its stake in shares of American Tower by 1.6% during the first quarter. Sequoia Financial Advisors LLC now owns 9,244 shares of the real estate investment trust's stock worth $2,012,000 after buying an additional 148 shares during the period. Finally, Balefire LLC increased its stake in shares of American Tower by 18.3% during the first quarter. Balefire LLC now owns 1,400 shares of the real estate investment trust's stock worth $305,000 after buying an additional 217 shares during the period. 92.69% of the stock is currently owned by hedge funds and other institutional investors.

American Tower Stock Performance

Shares of American Tower stock opened at $191.36 on Friday. The firm has a market capitalization of $89.60 billion, a P/E ratio of 69.58, a P/E/G ratio of 1.15 and a beta of 0.86. American Tower Corporation has a 52 week low of $172.51 and a 52 week high of $234.33. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 3.36. The firm's 50 day moving average is $195.30 and its two-hundred day moving average is $209.02.

American Tower (NYSE:AMT - Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The real estate investment trust reported $2.60 earnings per share for the quarter, beating the consensus estimate of $2.59 by $0.01. The business had revenue of $2.63 billion during the quarter, compared to the consensus estimate of $2.58 billion. American Tower had a return on equity of 24.85% and a net margin of 12.60%.The company's revenue was down 9.4% compared to the same quarter last year. During the same period in the prior year, the company earned $2.79 earnings per share. American Tower has set its FY 2025 guidance at 10.460-10.650 EPS. Research analysts forecast that American Tower Corporation will post 10.14 EPS for the current fiscal year.

American Tower Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, October 20th. Stockholders of record on Tuesday, September 30th were issued a $1.70 dividend. This represents a $6.80 annualized dividend and a dividend yield of 3.6%. The ex-dividend date of this dividend was Tuesday, September 30th. American Tower's dividend payout ratio is presently 247.27%.

Insider Buying and Selling at American Tower

In other news, CEO Juan Font sold 720 shares of the stock in a transaction that occurred on Thursday, July 31st. The stock was sold at an average price of $208.33, for a total value of $149,997.60. Following the completion of the sale, the chief executive officer directly owned 23,425 shares of the company's stock, valued at approximately $4,880,130.25. This represents a 2.98% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.17% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Wells Fargo & Company cut their target price on shares of American Tower from $230.00 to $210.00 and set an "overweight" rating on the stock in a research note on Monday. Wall Street Zen upgraded shares of American Tower from a "sell" rating to a "hold" rating in a research note on Sunday, October 12th. Raymond James Financial set a $250.00 target price on shares of American Tower and gave the stock a "strong-buy" rating in a research note on Wednesday, July 30th. UBS Group upped their target price on shares of American Tower from $250.00 to $260.00 and gave the stock a "buy" rating in a research note on Tuesday, July 8th. Finally, JPMorgan Chase & Co. increased their price target on shares of American Tower from $250.00 to $255.00 and gave the company an "overweight" rating in a research note on Wednesday, July 30th. Two analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and five have issued a Hold rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $236.75.

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.

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