RWC Asset Management LLP Sells 15,515 Shares of American Tower Corporation $AMT

RWC Asset Management LLP reduced its holdings in shares of American Tower Corporation (NYSE:AMT) by 7.0% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 207,454 shares of the real estate investment trust’s stock after selling 15,515 shares during the period. American Tower comprises about 1.9% of RWC Asset Management LLP’s investment portfolio, making the stock its 12th biggest position. RWC Asset Management LLP’s holdings in American Tower were worth $39,898,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in AMT. Brighton Jones LLC raised its holdings in shares of American Tower by 113.0% in the 4th quarter. Brighton Jones LLC now owns 3,966 shares of the real estate investment trust’s stock worth $727,000 after buying an additional 2,104 shares in the last quarter. Acadian Asset Management LLC boosted its stake in shares of American Tower by 673.8% in the 1st quarter. Acadian Asset Management LLC now owns 5,107 shares of the real estate investment trust’s stock valued at $1,111,000 after purchasing an additional 4,447 shares in the last quarter. Jones Financial Companies Lllp boosted its stake in shares of American Tower by 18.3% in the 1st quarter. Jones Financial Companies Lllp now owns 170,988 shares of the real estate investment trust’s stock valued at $37,003,000 after purchasing an additional 26,507 shares in the last quarter. Wesbanco Bank Inc. grew its holdings in shares of American Tower by 473.6% in the 2nd quarter. Wesbanco Bank Inc. now owns 16,611 shares of the real estate investment trust’s stock worth $3,671,000 after purchasing an additional 13,715 shares during the last quarter. Finally, Capital Asset Advisory Services LLC lifted its holdings in American Tower by 42.4% during the 2nd quarter. Capital Asset Advisory Services LLC now owns 1,920 shares of the real estate investment trust’s stock valued at $431,000 after purchasing an additional 572 shares during the last quarter. Institutional investors own 92.69% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. 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. Raymond James Financial restated a “strong-buy” rating and set a $231.00 price target (down from $250.00) on shares of American Tower in a research report on Wednesday, October 29th. Jefferies Financial Group cut their price objective on American Tower from $226.00 to $202.00 and set a “buy” rating for the company in a research report on Tuesday, December 16th. New Street Research upgraded American Tower from a “neutral” rating to a “buy” rating and set a $203.00 target price on the stock in a report on Monday, January 5th. Finally, Citigroup restated a “market outperform” rating on shares of American Tower in a research note on Wednesday, October 29th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $223.05.

American Tower Trading Up 1.8%

AMT stock opened at $171.53 on Tuesday. 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 Corporation has a twelve month low of $166.88 and a twelve month high of $234.33. The company has a market cap of $80.30 billion, a P/E ratio of 27.40, a PEG ratio of 0.68 and a beta of 0.92. The business has a fifty day moving average of $177.84 and a 200-day moving average of $194.22.

American Tower (NYSE:AMT) last announced its quarterly earnings data on Tuesday, October 28th. The real estate investment trust reported $2.78 EPS for the quarter, topping analysts’ consensus estimates of $2.64 by $0.14. American Tower had a return on equity of 28.79% and a net margin of 28.11%.The firm had revenue of $2.72 billion during the quarter, compared to analyst estimates of $2.65 billion. During the same period last year, the company earned $2.52 earnings per share. The company’s revenue was up 7.7% on a year-over-year basis. American Tower has set its FY 2025 guidance at 10.600-10.720 EPS. As a group, equities research analysts expect that American Tower Corporation will post 10.14 EPS for the current year.

American Tower Dividend Announcement

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 issued a $1.70 dividend. This represents a $6.80 annualized dividend and a yield of 4.0%. The ex-dividend date is Monday, December 29th. American Tower’s dividend payout ratio is currently 108.63%.

Insider Activity 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 acquired at an average cost of $178.99 per share, for a total transaction of $994,110.46. Following the transaction, the director directly owned 5,689 shares of the company’s stock, valued at approximately $1,018,274.11. This trade represents a 4,114.07% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, major shareholder Tower Corp /Ma/ American sold 2,288,621 shares of the company’s stock in a transaction dated 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 completion of the sale, the insider owned 211,379 shares of the company’s stock, valued at $14,743,685.25. This represents a 91.54% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 0.18% of the company’s stock.

About American Tower

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.