Mitsubishi UFJ Trust & Banking Corp Decreases Stake in American Tower Corporation $AMT

Mitsubishi UFJ Trust & Banking Corp lessened its stake in American Tower Corporation (NYSE:AMT) by 28.9% in the third quarter, HoldingsChannel.com reports. The firm owned 265,363 shares of the real estate investment trust’s stock after selling 107,948 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in American Tower were worth $51,035,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in AMT. Legacy Investment Solutions LLC purchased a new position in American Tower in the second quarter valued at about $31,000. Abound Wealth Management boosted its stake in shares of American Tower by 137.3% during the 3rd 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. VSM Wealth Advisory LLC grew its holdings in shares of 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 acquiring an additional 90 shares during the period. Root Financial Partners LLC purchased a new position in American Tower in the 3rd quarter valued at approximately $32,000. Finally, Rosenberg Matthew Hamilton raised its holdings in American Tower by 86.0% during the second quarter. Rosenberg Matthew Hamilton now owns 173 shares of the real estate investment trust’s stock worth $38,000 after purchasing an additional 80 shares during the last quarter. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Insiders Place Their Bets

In other news, major shareholder Tower Corp /Ma/ American sold 2,288,621 shares of the firm’s stock in a transaction on Tuesday, December 9th. The stock was sold at an average price of $69.75, for a total transaction of $159,631,314.75. Following the sale, the insider owned 211,379 shares in the company, valued at $14,743,685.25. This trade represents a 91.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Eugene F. Reilly acquired 5,554 shares of the stock in a transaction dated Friday, October 31st. The stock was acquired at an average cost of $178.99 per share, with a total value 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 ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Corporate insiders own 0.17% of the company’s stock.

Analyst Upgrades and Downgrades

AMT has been the topic of several research reports. Mizuho lowered their target price on American Tower from $217.00 to $189.00 and set a “neutral” rating on the stock in a report on Monday, January 12th. Scotiabank cut their price target on American Tower from $248.00 to $220.00 and set an “outperform” rating for the company in a research note on Wednesday, January 14th. Wells Fargo & Company lowered their price objective on shares of American Tower from $210.00 to $200.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 29th. Jefferies Financial Group cut their target price on shares of American Tower from $226.00 to $202.00 and set a “buy” rating for the company in a research report on Tuesday, December 16th. Finally, BMO Capital Markets downgraded shares of American Tower from an “outperform” rating to a “market perform” rating and reduced their price target for the company from $210.00 to $185.00 in a report on Friday, January 9th. Two research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $218.79.

American Tower Trading Up 1.0%

Shares of AMT stock opened at $178.68 on Friday. The company has a market capitalization of $83.65 billion, a price-to-earnings ratio of 28.54, a PEG ratio of 0.74 and a beta of 0.92. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 3.24. The firm has a 50-day moving average price of $177.51 and a 200 day moving average price of $191.76. American Tower Corporation has a twelve month low of $166.88 and a twelve month high of $234.33.

American Tower (NYSE:AMT) last issued its quarterly earnings results 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. The business had revenue of $2.72 billion during the quarter, compared to the consensus estimate of $2.65 billion. American Tower had a net margin of 28.11% and a return on equity of 28.79%. The company’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.52 earnings per share. American Tower has set its FY 2025 guidance at 10.600-10.720 EPS. Research analysts forecast that American Tower Corporation will post 10.14 earnings per share for the current fiscal year.

American Tower Announces Dividend

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

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.