Mesirow Financial Investment Management Inc. Trims Position in American Tower Corporation $AMT

Mesirow Financial Investment Management Inc. cut its position in American Tower Corporation (NYSE:AMT) by 4.0% in the second quarter, HoldingsChannel.com reports. The firm owned 17,524 shares of the real estate investment trust’s stock after selling 735 shares during the quarter. Mesirow Financial Investment Management Inc.’s holdings in American Tower were worth $3,873,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Vanguard Group Inc. boosted its position in shares of American Tower by 0.7% during the first quarter. Vanguard Group Inc. now owns 62,809,486 shares of the real estate investment trust’s stock worth $13,667,344,000 after acquiring an additional 434,118 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of American Tower by 39.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 8,144,040 shares of the real estate investment trust’s stock worth $1,772,144,000 after acquiring an additional 2,309,627 shares during the last quarter. Deutsche Bank AG boosted its position in shares of American Tower by 4.0% during 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 acquiring an additional 285,195 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of American Tower by 1.4% during 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 acquiring an additional 88,120 shares during the last quarter. Finally, Invesco Ltd. boosted its position in shares of 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 worth $1,299,445,000 after acquiring an additional 30,130 shares during the last quarter. Institutional investors own 92.69% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on AMT. Citigroup restated a “market outperform” rating on shares of American Tower in a research report on Wednesday. Weiss Ratings reiterated a “hold (c-)” rating on shares of American Tower in a research report on Wednesday, October 8th. Barclays increased their price objective on shares of American Tower from $250.00 to $251.00 and gave the company an “overweight” rating in a research report on Friday, October 17th. BMO Capital Markets lowered their price objective on shares of American Tower from $220.00 to $215.00 and set an “outperform” rating for the company in a research report on Wednesday. Finally, Hsbc Global Res lowered shares of American Tower from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 30th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $230.88.

American Tower Price Performance

American Tower stock opened at $179.18 on Friday. The firm has a 50-day moving average price of $192.70 and a 200-day moving average price of $208.05. The firm has a market capitalization of $83.90 billion, a PE ratio of 28.62, a price-to-earnings-growth ratio of 1.08 and a beta of 0.86. The company has a current ratio of 0.89, a quick ratio of 0.95 and a debt-to-equity ratio of 3.24. American Tower Corporation has a 12-month low of $172.51 and a 12-month high of $234.33.

American Tower (NYSE:AMT) last released its earnings results on Tuesday, October 28th. The real estate investment trust reported $2.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.64 by $0.14. The firm had revenue of $2.72 billion during the quarter, compared to analyst estimates 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 last year, the business earned $2.52 EPS. American Tower has set its FY 2025 guidance at 10.600-10.720 EPS. As a group, equities research analysts forecast that American Tower Corporation will post 10.14 EPS for the current year.

American Tower Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, October 20th. Stockholders of record on Tuesday, September 30th were issued a $1.70 dividend. This represents a $6.80 annualized dividend and a dividend yield of 3.8%. The ex-dividend date was Tuesday, September 30th. American Tower’s dividend payout ratio (DPR) is 108.63%.

American Tower Profile

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.