Key Points
- Tower Corp /Ma/ sold 2,288,621 shares of American Tower at an average price of $69.75 for about $159.63 million, reducing its ownership by 91.54% to 211,379 shares.
- American Tower beat Q3 estimates with EPS of $2.78 (vs. $2.64) and revenue of $2.72 billion (vs. $2.65 billion) and issued FY2025 guidance of $10.600–$10.720 EPS.
- The company declared a quarterly dividend of $1.70 (annualized $6.80) for a ~3.7% yield, while its payout ratio stands at a high 108.63%.
American Tower Corporation (NYSE:AMT - Get Free Report) major shareholder Tower Corp /Ma/ American sold 2,288,621 shares of American Tower stock in a transaction on Tuesday, December 9th. The stock was sold at an average price of $69.75, for a total value of $159,631,314.75. Following the completion of the transaction, the insider owned 211,379 shares in the company, valued at $14,743,685.25. The trade was a 91.54% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Major shareholders that own at least 10% of a company's shares are required to disclose their sales and purchases with the SEC.
American Tower Trading Up 0.7%
NYSE:AMT opened at $181.58 on Friday. The stock has a fifty day simple moving average of $183.01 and a 200 day simple moving average of $200.73. The firm has a market capitalization of $85.01 billion, a price-to-earnings ratio of 29.01, a price-to-earnings-growth ratio of 0.72 and a beta of 0.91. American Tower Corporation has a 1-year low of $172.51 and a 1-year high of $234.33. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 3.24.
American Tower (NYSE:AMT - Get Free Report) last posted its quarterly earnings data on Tuesday, October 28th. The real estate investment trust reported $2.78 EPS for the quarter, beating analysts' consensus estimates of $2.64 by $0.14. The company had revenue of $2.72 billion during the quarter, compared to analyst estimates of $2.65 billion. American Tower had a net margin of 28.11% and a return on equity of 28.79%. The business's quarterly revenue was up 7.7% on a year-over-year basis. During the same period in the prior year, the firm earned $2.52 earnings per share. American Tower has set its FY 2025 guidance at 10.600-10.720 EPS. Sell-side analysts forecast that American Tower Corporation will post 10.14 earnings per share for the current year.
American Tower Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 2nd. Shareholders of record on Monday, December 29th will be given a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a yield of 3.7%. The ex-dividend date is Monday, December 29th. American Tower's payout ratio is presently 108.63%.
Analyst Upgrades and Downgrades
A number of analysts have recently issued reports on the company. Raymond James Financial restated a "strong-buy" rating and issued a $231.00 target price (down previously from $250.00) on shares of American Tower in a report on Wednesday, October 29th. Wall Street Zen raised American Tower from a "sell" rating to a "hold" rating in a research report on Sunday, October 12th. Barclays restated an "equal weight" rating and set a $200.00 price objective (down from $203.00) on shares of American Tower in a research report on Monday, December 1st. JPMorgan Chase & Co. lowered their target price on American Tower from $255.00 to $250.00 and set an "overweight" rating on the stock in a research note on Wednesday, October 29th. Finally, HSBC reduced their price target on shares of American Tower from $235.00 to $205.00 in a research 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 given a Hold rating to the company's stock. According to data from MarketBeat, American Tower has an average rating of "Moderate Buy" and an average target price of $228.00.
View Our Latest Research Report on AMT
Institutional Investors Weigh In On American Tower
Hedge funds and other institutional investors have recently made changes to their positions in the company. Painted Porch Advisors LLC grew its stake in shares of American Tower by 18.1% in the 3rd quarter. Painted Porch Advisors LLC now owns 647 shares of the real estate investment trust's stock valued at $124,000 after buying an additional 99 shares in the last quarter. Saranac Partners Ltd bought a new position in American Tower during the third quarter valued at approximately $331,000. Allworth Financial LP grew its position in American Tower by 0.7% in the third quarter. Allworth Financial LP now owns 45,717 shares of the real estate investment trust's stock worth $8,792,000 after acquiring an additional 315 shares in the last quarter. Swiss Life Asset Management Ltd increased its stake in shares of American Tower by 4.8% during the 3rd quarter. Swiss Life Asset Management Ltd now owns 89,529 shares of the real estate investment trust's stock worth $17,218,000 after purchasing an additional 4,122 shares during the last quarter. Finally, Groupama Asset Managment lifted its stake in shares of American Tower by 17.0% in the 3rd quarter. Groupama Asset Managment now owns 117,651 shares of the real estate investment trust's stock valued at $22,627,000 after purchasing an additional 17,086 shares during the last quarter. 92.69% of the stock is owned by hedge funds and other institutional investors.
American Tower Company Profile
(
Get Free Report)
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.
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