Vert Asset Management LLC Buys 9,872 Shares of American Tower Corporation $AMT

Vert Asset Management LLC boosted its stake in American Tower Corporation (NYSE:AMT) by 10.6% in the third quarter, Holdings Channel reports. The institutional investor owned 103,122 shares of the real estate investment trust’s stock after acquiring an additional 9,872 shares during the quarter. American Tower makes up approximately 6.7% of Vert Asset Management LLC’s holdings, making the stock its 6th largest position. Vert Asset Management LLC’s holdings in American Tower were worth $19,832,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of AMT. Blossom Wealth Management boosted its position in American Tower by 1.8% during the second quarter. Blossom Wealth Management now owns 2,601 shares of the real estate investment trust’s stock valued at $575,000 after purchasing an additional 45 shares during the last quarter. TFG Advisers LLC raised its stake in shares of American Tower by 0.3% during the 2nd quarter. TFG Advisers LLC now owns 16,186 shares of the real estate investment trust’s stock worth $3,578,000 after purchasing an additional 47 shares in the last quarter. Novem Group raised its stake in shares of American Tower by 3.8% during the 2nd quarter. Novem Group now owns 1,316 shares of the real estate investment trust’s stock worth $291,000 after purchasing an additional 48 shares in the last quarter. Analyst IMS Investment Management Services Ltd. lifted its holdings in shares of American Tower by 3.6% during the 2nd quarter. Analyst IMS Investment Management Services Ltd. now owns 1,370 shares of the real estate investment trust’s stock valued at $303,000 after buying an additional 48 shares during the last quarter. Finally, Marion Wealth Management grew its position in American Tower by 0.8% in the second quarter. Marion Wealth Management now owns 5,924 shares of the real estate investment trust’s stock worth $1,309,000 after acquiring an additional 48 shares in the last quarter. 92.69% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on AMT shares. New Street Research raised American Tower from a “neutral” rating to a “buy” rating and set a $203.00 price objective on the stock in a report on Monday, January 5th. Barclays reiterated an “equal weight” rating and set a $200.00 price target (down from $203.00) on shares of American Tower in a report on Monday, December 1st. HSBC lowered their price objective on shares of American Tower from $235.00 to $205.00 in a research note on Wednesday, October 29th. Morgan Stanley cut their target price on shares of American Tower from $255.00 to $235.00 and set an “overweight” rating for the company in a research note on Thursday, December 4th. Finally, Wells Fargo & Company reduced their price target on shares of American Tower from $210.00 to $200.00 and set an “overweight” rating for the company in a report on Wednesday, October 29th. Two analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat.com, American Tower currently has an average rating of “Moderate Buy” and an average target price of $219.21.

Insider Buying and Selling

In related news, Director Eugene F. Reilly purchased 5,554 shares of the stock in a transaction on Friday, October 31st. The shares were purchased at an average cost of $178.99 per share, for a total transaction of $994,110.46. Following the completion of the transaction, 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 acquisition was disclosed in a legal 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 American Tower stock in a transaction on Tuesday, December 9th. The shares were sold at an average price of $69.75, for a total value of $159,631,314.75. Following the transaction, the insider directly owned 211,379 shares of the company’s stock, valued at approximately $14,743,685.25. The trade was a 91.54% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 0.18% of the company’s stock.

American Tower Stock Performance

AMT traded down $3.30 during trading on Tuesday, reaching $180.27. 703,527 shares of the company’s stock were exchanged, compared to its average volume of 2,755,503. American Tower Corporation has a fifty-two week low of $166.88 and a fifty-two week 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. The business has a 50 day moving average price of $177.94 and a 200 day moving average price of $192.76. The company has a market capitalization of $84.39 billion, a P/E ratio of 28.77, a PEG ratio of 0.74 and a beta of 0.92.

American Tower (NYSE:AMT) last announced its quarterly earnings data on Tuesday, October 28th. The real estate investment trust reported $2.78 earnings per share (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 analysts’ expectations of $2.65 billion. American Tower had a net margin of 28.11% and a return on equity of 28.79%. The business’s revenue was up 7.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.52 EPS. American Tower has set its FY 2025 guidance at 10.600-10.720 EPS. As a group, analysts predict that American Tower Corporation will post 10.14 earnings per share for the current fiscal year.

American Tower Dividend Announcement

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

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.