Beck Bode LLC Takes $16.27 Million Position in American Tower Corporation $AMT

Beck Bode LLC purchased a new position in American Tower Corporation (NYSE:AMT) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 73,607 shares of the real estate investment trust’s stock, valued at approximately $16,269,000. American Tower comprises 2.8% of Beck Bode LLC’s portfolio, making the stock its 22nd biggest holding.

Other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. increased its position in American Tower by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 62,809,486 shares of the real estate investment trust’s stock worth $13,667,344,000 after purchasing an additional 434,118 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of American Tower by 39.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,144,040 shares of the real estate investment trust’s stock valued at $1,772,144,000 after buying an additional 2,309,627 shares in the last quarter. Deutsche Bank AG increased its holdings in American Tower by 4.0% in the first quarter. Deutsche Bank AG now owns 7,383,368 shares of the real estate investment trust’s stock worth $1,606,621,000 after buying an additional 285,195 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in American Tower by 1.4% in the first quarter. Dimensional Fund Advisors LP now owns 6,534,862 shares of the real estate investment trust’s stock worth $1,421,965,000 after buying an additional 88,120 shares during the last quarter. Finally, Invesco Ltd. raised its position in American Tower by 0.5% during the first quarter. Invesco Ltd. now owns 5,971,716 shares of the real estate investment trust’s stock valued at $1,299,445,000 after acquiring an additional 30,130 shares in the last quarter. 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 bought 5,554 shares of the business’s stock in a transaction that occurred on Friday, October 31st. The stock was purchased at an average cost of $178.99 per share, for a total transaction of $994,110.46. Following the purchase, the director directly owned 5,689 shares in the company, valued at $1,018,274.11. This trade represents a 4,114.07% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.17% of the company’s stock.

American Tower Trading Up 2.9%

Shares of NYSE:AMT opened at $184.88 on Wednesday. The company has a debt-to-equity ratio of 3.24, a quick ratio of 0.95 and a current ratio of 0.89. The stock’s 50-day moving average is $189.19 and its 200-day moving average is $206.06. The company has a market cap of $86.57 billion, a P/E ratio of 29.53, a P/E/G ratio of 1.08 and a beta of 0.85. American Tower Corporation has a 52-week low of $172.51 and a 52-week 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 earnings per share for the quarter, topping the consensus estimate of $2.64 by $0.14. The business had revenue of $2.72 billion during the quarter, compared to analysts’ expectations 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 quarter in the previous year, the firm earned $2.52 EPS. American Tower has set its FY 2025 guidance at 10.600-10.720 EPS. Equities research analysts predict that American Tower Corporation will post 10.14 earnings per share for the current year.

American Tower Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, October 20th. Stockholders of record on Tuesday, September 30th were paid a $1.70 dividend. The ex-dividend date was Tuesday, September 30th. This represents a $6.80 annualized dividend and a dividend yield of 3.7%. American Tower’s dividend payout ratio (DPR) is presently 108.63%.

Analyst Ratings Changes

Several research firms have commented on AMT. TD Cowen decreased their target price on shares of American Tower from $249.00 to $235.00 and set a “buy” rating for the company in a research report on Wednesday, October 29th. Wall Street Zen raised shares of American Tower from a “sell” rating to a “hold” rating in a research note on Sunday, October 12th. Weiss Ratings reissued a “hold (c-)” rating on shares of American Tower in a research report on Wednesday, October 8th. Wells Fargo & Company reduced their price target on American Tower from $210.00 to $200.00 and set an “overweight” rating for the company in a research report on Wednesday, October 29th. Finally, Hsbc Global Res downgraded American Tower from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 30th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $231.11.

About American Tower

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.