American Tower Corporation $AMT Shares Acquired by Mitsubishi UFJ Asset Management Co. Ltd.

Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in American Tower Corporation (NYSE:AMT) by 7.1% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 891,281 shares of the real estate investment trust’s stock after buying an additional 59,346 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.19% of American Tower worth $196,991,000 as of its most recent SEC filing.

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

American Tower Stock Performance

NYSE AMT opened at $177.86 on Friday. The company has a debt-to-equity ratio of 3.24, a current ratio of 0.89 and a quick ratio of 0.95. The stock’s 50 day simple moving average is $189.98 and its 200-day simple moving average is $206.51. The company has a market cap of $83.28 billion, a PE ratio of 28.41, a price-to-earnings-growth ratio of 1.08 and a beta of 0.85. American Tower Corporation has a 1-year low of $172.51 and a 1-year high of $234.33.

American Tower (NYSE:AMT) last posted its quarterly earnings data on Tuesday, October 28th. The real estate investment trust reported $2.78 EPS for the quarter, beating the consensus estimate of $2.64 by $0.14. The firm had revenue of $2.72 billion during the quarter, compared to the consensus estimate of $2.65 billion. American Tower had a return on equity of 28.79% and a net margin of 28.11%.The firm’s revenue was up 7.7% compared to the same quarter last year. During the same period in the prior year, the company earned $2.52 EPS. American Tower has set its FY 2025 guidance at 10.600-10.720 EPS. As a group, equities research analysts anticipate that American Tower Corporation will post 10.14 EPS for the current fiscal year.

American Tower Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, October 20th. Stockholders of record on Tuesday, September 30th were given a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date was Tuesday, September 30th. American Tower’s dividend payout ratio is 108.63%.

Insider Buying and Selling at American Tower

In other American Tower news, Director Eugene F. Reilly purchased 5,554 shares of the stock in a transaction that occurred on Friday, October 31st. The shares were purchased at an average cost of $178.99 per share, for a total transaction of $994,110.46. Following the completion of the transaction, the director owned 5,689 shares of the company’s stock, valued at $1,018,274.11. The trade was a 4,114.07% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.17% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on AMT. Citigroup restated a “market outperform” rating on shares of American Tower in a research report on Wednesday, October 29th. Wall Street Zen raised American Tower from a “sell” rating to a “hold” rating in a report on Sunday, October 12th. Jefferies Financial Group reduced their target price on American Tower from $281.00 to $226.00 and set a “buy” rating for the company in a research note on Monday, October 13th. Barclays lifted their price target on shares of American Tower from $250.00 to $251.00 and gave the company an “overweight” rating in a research note on Friday, October 17th. Finally, The Goldman Sachs Group reduced their price objective on shares of American Tower from $250.00 to $230.00 and set a “buy” rating for the company in a research report on Wednesday, October 29th. Two analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $231.11.

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.