Signal Advisors Wealth LLC Takes $8.07 Million Position in American Tower Corporation $AMT

Signal Advisors Wealth LLC purchased a new position in shares of American Tower Corporation (NYSE:AMT) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 41,957 shares of the real estate investment trust’s stock, valued at approximately $8,069,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of American Tower during the 2nd quarter worth $1,371,875,000. JPMorgan Chase & Co. raised its stake in American Tower by 24.3% in the second quarter. JPMorgan Chase & Co. now owns 12,666,082 shares of the real estate investment trust’s stock valued at $2,799,458,000 after purchasing an additional 2,474,328 shares in the last quarter. Viking Global Investors LP lifted its position in American Tower by 233.5% during the second quarter. Viking Global Investors LP now owns 2,797,125 shares of the real estate investment trust’s stock worth $618,221,000 after purchasing an additional 1,958,329 shares during the period. Alyeska Investment Group L.P. acquired a new stake in American Tower during the first quarter worth about $162,127,000. Finally, Amundi raised its position in shares of American Tower by 35.5% in the 1st quarter. Amundi now owns 2,838,421 shares of the real estate investment trust’s stock valued at $645,694,000 after buying an additional 743,617 shares in the last quarter. Institutional investors own 92.69% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on AMT. TD Cowen decreased their price objective 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. The Goldman Sachs Group lowered their price target on American Tower from $250.00 to $230.00 and set a “buy” rating for the company in a report on Wednesday, October 29th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of American Tower in a research note on Monday. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $220.00 target price on shares of American Tower in a research report on Friday. Finally, JPMorgan Chase & Co. dropped their target price on shares of American Tower from $255.00 to $250.00 and set an “overweight” rating for the company in a report on Wednesday, October 29th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $226.67.

American Tower Trading Down 1.1%

Shares of AMT stock opened at $172.35 on Friday. American Tower Corporation has a twelve month low of $171.95 and a twelve month high of $234.33. The stock’s fifty day simple moving average is $181.93 and its 200 day simple moving average is $199.24. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 3.24. The firm has a market capitalization of $80.69 billion, a P/E ratio of 27.53, a P/E/G ratio of 0.70 and a beta of 0.91.

American Tower (NYSE:AMT) last posted its earnings results 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 business’s quarterly revenue was up 7.7% on a year-over-year basis. During the same period last year, the company earned $2.52 earnings per share. American Tower has set its FY 2025 guidance at 10.600-10.720 EPS. As a group, sell-side analysts predict 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 will be paid on Monday, February 2nd. Investors of record on Monday, December 29th will be given a dividend of $1.70 per share. The ex-dividend date is Monday, December 29th. This represents a $6.80 annualized dividend and a yield of 3.9%. American Tower’s dividend payout ratio (DPR) is currently 108.63%.

Insider Buying and Selling

In other American Tower news, major shareholder Tower Corp /Ma/ American sold 2,288,621 shares of the business’s stock in a transaction that occurred on Tuesday, December 9th. The shares were sold at an average price of $69.75, for a total transaction of $159,631,314.75. Following the sale, the insider directly owned 211,379 shares of the company’s stock, valued at $14,743,685.25. The trade was a 91.54% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Eugene F. Reilly purchased 5,554 shares of the company’s stock in a transaction dated Friday, October 31st. The shares were acquired at an average cost of $178.99 per share, with a total value of $994,110.46. Following the purchase, the director directly owned 5,689 shares of the company’s stock, valued at approximately $1,018,274.11. The trade was a 4,114.07% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders own 0.17% of the company’s stock.

American Tower Profile

American Tower (NYSE: AMT) is a real estate investment trust (REIT) that owns, operates and develops wireless and broadcast communications infrastructure. The company’s core business is leasing space on communications sites — including towers, rooftops and other structures — to wireless carriers, broadcasters, government agencies and enterprise customers. Its business model centers on long-term site leases and contracts that provide recurring revenue tied to the footprint and density of wireless networks.

Beyond traditional tower assets, American Tower offers a range of infrastructure and network services to support mobile, broadband and broadcast connectivity.