Shum Financial Group Inc. Makes New Investment in American Tower Corporation $AMT

Shum Financial Group Inc. bought a new stake in American Tower Corporation (NYSE:AMT) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 3,796 shares of the real estate investment trust’s stock, valued at approximately $730,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in AMT. Abound Wealth Management raised its stake in shares of American Tower by 137.3% in the third quarter. Abound Wealth Management now owns 140 shares of the real estate investment trust’s stock worth $27,000 after acquiring an additional 81 shares during the last quarter. Legacy Investment Solutions LLC acquired a new stake in shares of American Tower in the second quarter valued at approximately $31,000. VSM Wealth Advisory LLC raised its position in American Tower by 136.4% in the 2nd quarter. VSM Wealth Advisory LLC now owns 156 shares of the real estate investment trust’s stock worth $34,000 after purchasing an additional 90 shares during the last quarter. Rosenberg Matthew Hamilton lifted its holdings in American Tower by 86.0% during the 2nd quarter. Rosenberg Matthew Hamilton now owns 173 shares of the real estate investment trust’s stock worth $38,000 after buying an additional 80 shares in the last quarter. Finally, Winnow Wealth LLC bought a new position in American Tower in the 2nd quarter valued at $44,000. Institutional investors and hedge funds own 92.69% of the company’s stock.

Insider Transactions at American Tower

In related news, Director Eugene F. Reilly purchased 5,554 shares of American Tower stock in a transaction dated 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 purchase, the director owned 5,689 shares in the company, valued at approximately $1,018,274.11. This trade represents a 4,114.07% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Tower Corp /Ma/ American sold 2,288,621 shares of the firm’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 completion of the sale, the insider owned 211,379 shares in the company, valued at $14,743,685.25. This represents a 91.54% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.18% of the stock is currently owned by corporate insiders.

American Tower Price Performance

NYSE:AMT opened at $176.69 on Wednesday. American Tower Corporation has a 52-week low of $170.77 and a 52-week high of $234.33. The company has a market cap of $82.72 billion, a P/E ratio of 28.23, a P/E/G ratio of 0.70 and a beta of 0.91. The company has a debt-to-equity ratio of 3.24, a quick ratio of 0.89 and a current ratio of 0.89. The stock’s 50-day simple moving average is $179.89 and its 200 day simple moving average is $197.07.

American Tower (NYSE:AMT) last posted its quarterly earnings results on Tuesday, October 28th. The real estate investment trust reported $2.78 earnings per share for the quarter, beating analysts’ consensus estimates 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 revenue was up 7.7% compared to the same quarter last year. 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 forecast that American Tower Corporation will post 10.14 EPS for the current fiscal year.

American Tower Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 2nd. Investors of record on Monday, December 29th will be paid a $1.70 dividend. The ex-dividend date of this dividend is Monday, December 29th. This represents a $6.80 annualized dividend and a yield of 3.8%. American Tower’s dividend payout ratio (DPR) is 108.63%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on AMT shares. BMO Capital Markets cut their price target on American Tower from $215.00 to $210.00 and set an “outperform” rating on the stock in a research note on Wednesday, December 3rd. HSBC lowered their target price on American Tower from $235.00 to $205.00 in a report on Wednesday, October 29th. Raymond James Financial restated a “strong-buy” rating and issued a $231.00 price target (down from $250.00) on shares of American Tower in a report on Wednesday, October 29th. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $220.00 price objective on shares of American Tower in a research report on Friday, December 19th. Finally, Argus set a $210.00 target price on American Tower in a research report on Thursday, October 30th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $226.67.

American Tower Company 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.