Sumitomo Mitsui Trust Group Inc. Buys 7,195 Shares of American Tower Corporation $AMT

Sumitomo Mitsui Trust Group Inc. lifted its stake in shares of American Tower Corporation (NYSE:AMT) by 0.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,242,614 shares of the real estate investment trust’s stock after acquiring an additional 7,195 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned approximately 0.27% of American Tower worth $238,980,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in AMT. Abound Wealth Management boosted its stake in American Tower by 137.3% during 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 in the last quarter. Legacy Investment Solutions LLC acquired a new position in shares of American Tower during the second quarter valued at about $31,000. VSM Wealth Advisory LLC boosted its position in shares of American Tower by 136.4% during 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 in the last quarter. Salomon & Ludwin LLC boosted its position in shares of American Tower by 147.9% during the 3rd quarter. Salomon & Ludwin LLC now owns 181 shares of the real estate investment trust’s stock worth $34,000 after purchasing an additional 108 shares in the last quarter. Finally, City Holding Co. acquired a new stake in shares of American Tower in the 3rd quarter valued at about $35,000. 92.69% of the stock is currently owned by institutional investors.

American Tower Stock Performance

NYSE AMT opened at $171.53 on Tuesday. The company has a fifty day moving average price of $177.84 and a 200-day moving average price of $194.22. The firm has a market cap of $80.30 billion, a price-to-earnings ratio of 27.40, a PEG ratio of 0.68 and a beta of 0.92. The company has a debt-to-equity ratio of 3.24, a current ratio of 0.89 and a quick ratio of 0.89. American Tower Corporation has a 1 year low of $166.88 and a 1 year high of $234.33.

American Tower (NYSE:AMT) last released its quarterly earnings results 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 for 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 firm’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same period in the previous 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, equities research analysts predict that American Tower Corporation will post 10.14 EPS for the current fiscal year.

American Tower Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 2nd. Investors of record on Monday, December 29th will be issued a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a yield of 4.0%. The ex-dividend date is Monday, December 29th. American Tower’s dividend payout ratio (DPR) is 108.63%.

Analyst Ratings Changes

A number of research firms recently weighed in on AMT. Argus set a $210.00 price target on American Tower in a research note on Thursday, October 30th. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $220.00 target price on shares of American Tower in a research report on Friday, December 19th. Citigroup reissued a “market outperform” rating on shares of American Tower in a research report on Wednesday, October 29th. New Street Research upgraded shares of American Tower from a “neutral” rating to a “buy” rating and set a $203.00 price target for the company in a research note on Monday, January 5th. Finally, Jefferies Financial Group dropped their price objective on shares of American Tower from $226.00 to $202.00 and set a “buy” rating on the stock in a research note on Tuesday, December 16th. Two analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $223.05.

Insider Buying and Selling at American Tower

In related news, major shareholder Tower Corp /Ma/ American sold 2,288,621 shares of the firm’s stock in a transaction dated 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 approximately $14,743,685.25. This trade represents a 91.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Eugene F. Reilly acquired 5,554 shares of the stock in a transaction on Friday, October 31st. The stock was bought at an average cost of $178.99 per share, for a total transaction of $994,110.46. Following the transaction, the director 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 position. The SEC filing for this purchase provides additional information. 0.18% of the stock is currently owned by insiders.

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.