American Tower Corporation $AMT Shares Acquired by New York Life Investment Management LLC

New York Life Investment Management LLC lifted its holdings in shares of American Tower Corporation (NYSE:AMT) by 1.4% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 70,090 shares of the real estate investment trust’s stock after buying an additional 984 shares during the period. New York Life Investment Management LLC’s holdings in American Tower were worth $15,491,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the business. Focus Financial Network Inc. lifted its holdings in shares of American Tower by 9.1% during the second quarter. Focus Financial Network Inc. now owns 2,042 shares of the real estate investment trust’s stock worth $451,000 after purchasing an additional 170 shares during the period. Resolution Capital Ltd acquired a new stake in shares of American Tower in the 1st quarter worth $72,706,000. Stack Financial Management Inc acquired a new stake in shares of American Tower in the 2nd quarter worth $13,020,000. Golden State Wealth Management LLC lifted its stake in shares of American Tower by 23.0% in the 1st quarter. Golden State Wealth Management LLC now owns 369 shares of the real estate investment trust’s stock worth $80,000 after acquiring an additional 69 shares during the period. Finally, Kovitz Investment Group Partners LLC lifted its stake in shares of American Tower by 126.0% in the 1st quarter. Kovitz Investment Group Partners LLC now owns 97,495 shares of the real estate investment trust’s stock worth $21,215,000 after acquiring an additional 54,360 shares during the period. Institutional investors and hedge funds own 92.69% of the company’s stock.

American Tower Price Performance

AMT stock opened at $182.90 on Wednesday. The firm has a 50 day moving average of $194.56 and a 200-day moving average of $208.76. The company has a market cap of $85.64 billion, a price-to-earnings ratio of 66.51, a PEG ratio of 1.15 and a beta of 0.86. American Tower Corporation has a 12-month low of $172.51 and a 12-month high of $234.33. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 3.36.

American Tower (NYSE:AMT) last issued its quarterly earnings data on Tuesday, October 28th. The real estate investment trust reported $2.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.64 by $0.14. The firm had revenue of $2.72 billion during the quarter, compared to analysts’ expectations of $2.65 billion. American Tower had a return on equity of 24.85% and a net margin of 12.60%.American Tower’s revenue was up 7.7% on a year-over-year basis. During the same period in the previous year, the firm posted $2.52 earnings per share. 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 EPS for the current fiscal year.

American Tower Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, October 20th. Stockholders of record on Tuesday, September 30th were paid a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a dividend yield of 3.7%. The ex-dividend date of this dividend was Tuesday, September 30th. American Tower’s payout ratio is 247.27%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on AMT shares. Hsbc Global Res downgraded shares of American Tower from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 30th. Wall Street Zen raised American Tower from a “sell” rating to a “hold” rating in a report on Sunday, October 12th. BMO Capital Markets reduced their price target on American Tower from $245.00 to $220.00 and set an “outperform” rating for the company in a report on Friday, October 17th. Wells Fargo & Company reduced their price target on American Tower from $230.00 to $210.00 and set an “overweight” rating for the company in a report on Monday, October 20th. Finally, Barclays raised their target price on American Tower from $250.00 to $251.00 and gave the company an “overweight” rating in a report on Friday, October 17th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, American Tower currently has an average rating of “Moderate Buy” and a consensus target price of $236.75.

Insider Activity

In other American Tower news, CEO Juan Font sold 720 shares of American Tower stock in a transaction dated Thursday, July 31st. The shares were sold at an average price of $208.33, for a total transaction of $149,997.60. Following the completion of the transaction, the chief executive officer owned 23,425 shares in the company, valued at approximately $4,880,130.25. The trade was a 2.98% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.18% of the stock is owned by company insiders.

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.