RWA Wealth Partners LLC Raises Stake in American Tower Corporation $AMT

RWA Wealth Partners LLC grew its stake in American Tower Corporation (NYSE:AMT) by 37.8% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,157 shares of the real estate investment trust’s stock after acquiring an additional 866 shares during the quarter. RWA Wealth Partners LLC’s holdings in American Tower were worth $698,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of AMT. Nuveen LLC purchased a new position in American Tower during the first quarter worth about $991,525,000. Price T Rowe Associates Inc. MD increased its holdings in shares of American Tower by 39.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,144,040 shares of the real estate investment trust’s stock worth $1,772,144,000 after buying an additional 2,309,627 shares during the last quarter. Alyeska Investment Group L.P. purchased a new stake in shares of American Tower during the 1st quarter valued at approximately $162,127,000. Amundi lifted its holdings in American Tower by 35.5% in the first quarter. Amundi now owns 2,838,421 shares of the real estate investment trust’s stock valued at $645,694,000 after acquiring an additional 743,617 shares during the last quarter. Finally, T. Rowe Price Investment Management Inc. grew its position in American Tower by 490.9% in the first quarter. T. Rowe Price Investment Management Inc. now owns 650,789 shares of the real estate investment trust’s stock worth $141,612,000 after acquiring an additional 540,648 shares during the period. Institutional investors and hedge funds own 92.69% of the company’s stock.

American Tower Price Performance

Shares of NYSE:AMT opened at $177.86 on Monday. American Tower Corporation has a 52 week low of $172.51 and a 52 week high of $234.33. The company has a 50-day moving average price of $189.98 and a 200 day moving average price of $206.47. The company has a market cap of $83.28 billion, a P/E ratio of 28.41, a PEG ratio of 1.08 and a beta of 0.85. The company has a quick ratio of 0.95, a current ratio of 0.89 and a debt-to-equity ratio of 3.24.

American Tower (NYSE:AMT) last issued its earnings results on Tuesday, October 28th. The real estate investment trust reported $2.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.64 by $0.14. The business 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 company’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same period in the prior year, the business posted $2.52 EPS. American Tower has set its FY 2025 guidance at 10.600-10.720 EPS. Research analysts predict that American Tower Corporation will post 10.14 earnings per share for the current year.

American Tower Announces Dividend

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

Analyst Ratings Changes

AMT has been the topic of several recent analyst reports. UBS Group reaffirmed a “buy” rating and issued a $260.00 price target on shares of American Tower in a research note on Wednesday, October 29th. Citigroup restated a “market outperform” rating on shares of American Tower in a report on Wednesday, October 29th. Jefferies Financial Group lowered their target price on shares of American Tower from $281.00 to $226.00 and set a “buy” rating for the company in a research note on Monday, October 13th. TD Cowen reduced their price target on shares of American Tower from $249.00 to $235.00 and set a “buy” rating on the stock in a research note on Wednesday, October 29th. Finally, BMO Capital Markets lowered their price objective on shares of American Tower from $220.00 to $215.00 and set an “outperform” 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 given a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, American Tower has a consensus rating of “Moderate Buy” and a consensus target price of $231.11.

Insider Buying and Selling

In related news, Director Eugene F. Reilly bought 5,554 shares of the firm’s stock in a transaction on Friday, October 31st. The shares were bought at an average cost of $178.99 per share, for a total transaction of $994,110.46. Following the transaction, the director owned 5,689 shares of the company’s stock, valued at approximately $1,018,274.11. This trade represents a 4,114.07% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.17% of the company’s stock.

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.