Nisa Investment Advisors LLC Has $44.18 Million Stock Position in American Tower Corporation $AMT

Nisa Investment Advisors LLC reduced its stake in shares of American Tower Corporation (NYSE:AMT) by 29.4% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 198,176 shares of the real estate investment trust’s stock after selling 82,569 shares during the quarter. Nisa Investment Advisors LLC’s holdings in American Tower were worth $44,181,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in AMT. Resonant Capital Advisors LLC increased its holdings in shares of American Tower by 54.2% in the second quarter. Resonant Capital Advisors LLC now owns 2,005 shares of the real estate investment trust’s stock worth $446,000 after acquiring an additional 705 shares in the last quarter. Hixon Zuercher LLC raised its stake in American Tower by 1.0% in the second quarter. Hixon Zuercher LLC now owns 8,136 shares of the real estate investment trust’s stock valued at $1,798,000 after buying an additional 77 shares during the period. Wealthfront Advisers LLC boosted its stake in shares of American Tower by 11.2% during the 2nd quarter. Wealthfront Advisers LLC now owns 88,936 shares of the real estate investment trust’s stock worth $19,657,000 after acquiring an additional 8,957 shares during the period. Cabot Wealth Management Inc. raised its stake in American Tower by 2.5% in the 2nd quarter. Cabot Wealth Management Inc. now owns 50,153 shares of the real estate investment trust’s stock valued at $11,085,000 after acquiring an additional 1,241 shares during the period. Finally, Brighton Jones LLC boosted its position in American Tower by 148.6% during the second quarter. Brighton Jones LLC now owns 8,730 shares of the real estate investment trust’s stock worth $1,929,000 after purchasing an additional 5,219 shares during the period. 92.69% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Raymond James Financial set a $250.00 target price on shares of American Tower and gave the company a “strong-buy” rating in a report on Wednesday, July 30th. Hsbc Global Res downgraded American Tower from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 30th. Royal Bank Of Canada set a $220.00 price objective on shares of American Tower and gave the company a “sector perform” rating in a research note on Wednesday, October 1st. BMO Capital Markets lowered their target price on shares of American Tower from $245.00 to $220.00 and set an “outperform” rating for the company in a research note on Friday, October 17th. Finally, JPMorgan Chase & Co. upped their price target on shares of American Tower from $250.00 to $255.00 and gave the company an “overweight” rating in a research report on Wednesday, July 30th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, American Tower presently has a consensus rating of “Moderate Buy” and a consensus target price of $236.75.

American Tower Stock Up 0.6%

Shares of NYSE AMT opened at $191.36 on Friday. The stock has a market capitalization of $89.60 billion, a P/E ratio of 69.58, a PEG ratio of 1.16 and a beta of 0.86. The firm’s 50 day simple moving average is $195.30 and its two-hundred day simple moving average is $209.06. The company has a debt-to-equity ratio of 3.36, a current ratio of 0.95 and a quick ratio of 0.95. American Tower Corporation has a one year low of $172.51 and a one year high of $234.33.

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

American Tower Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, October 20th. Investors of record on Tuesday, September 30th were given a dividend of $1.70 per share. The ex-dividend date was Tuesday, September 30th. This represents a $6.80 dividend on an annualized basis and a yield of 3.6%. American Tower’s dividend payout ratio is 247.27%.

Insider Buying and Selling

In other American Tower news, CEO Juan Font sold 720 shares of American Tower stock in a transaction that occurred on Thursday, July 31st. The shares were 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 owned 23,425 shares of the company’s stock, valued at approximately $4,880,130.25. The trade was a 2.98% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.17% of the company’s stock.

About American Tower

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.