American Tower Corporation $AMT Shares Sold by Voya Investment Management LLC

Voya Investment Management LLC cut its holdings in American Tower Corporation (NYSE:AMT) by 74.8% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 196,359 shares of the real estate investment trust’s stock after selling 582,257 shares during the period. Voya Investment Management LLC’s holdings in American Tower were worth $37,764,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Legacy Investment Solutions LLC acquired a new stake in American Tower in the 2nd quarter worth about $31,000. VSM Wealth Advisory LLC raised its stake in American Tower by 136.4% during the second 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 during the period. Rosenberg Matthew Hamilton increased its stake 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 acquiring an additional 80 shares during the last quarter. Saudi Central Bank purchased a new position in shares of American Tower in the 1st quarter worth about $40,000. Finally, Winnow Wealth LLC purchased a new position in American Tower in the second quarter valued at approximately $44,000. 92.69% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have issued reports on AMT. Wells Fargo & Company decreased their price objective on shares of American Tower from $210.00 to $200.00 and set an “overweight” rating for the company in a research note on Wednesday, October 29th. HSBC cut their price objective on shares of American Tower from $235.00 to $205.00 in a report on Wednesday, October 29th. TD Cowen cut their target price on American Tower from $249.00 to $235.00 and set a “buy” rating on the stock in a research report on Wednesday, October 29th. Jefferies Financial Group cut their price target on shares of American Tower from $226.00 to $202.00 and set a “buy” rating on the stock in a report on Tuesday, December 16th. Finally, Citigroup reissued a “market outperform” rating on shares of American Tower in a report on Wednesday, October 29th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $226.67.

American Tower Trading Down 1.1%

NYSE:AMT opened at $172.35 on Friday. The business has a fifty day moving average of $181.93 and a 200-day moving average of $199.14. The stock has a market cap of $80.69 billion, a price-to-earnings ratio of 27.53, a PEG ratio of 0.69 and a beta of 0.91. The company has a debt-to-equity ratio of 3.24, a quick ratio of 0.89 and a current ratio of 0.89. American Tower Corporation has a 1 year low of $171.95 and a 1 year 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 EPS for the quarter, beating the consensus estimate of $2.64 by $0.14. The firm 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%. American Tower’s quarterly revenue was up 7.7% on a year-over-year basis. During the same quarter last year, the company earned $2.52 EPS. American Tower has set its FY 2025 guidance at 10.600-10.720 EPS. Equities analysts predict that American Tower Corporation will post 10.14 earnings per share for the current year.

American Tower Announces Dividend

The company also recently announced 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 3.9%. The ex-dividend date of this dividend is Monday, December 29th. American Tower’s payout ratio is presently 108.63%.

Insider Activity

In other American Tower news, Director Eugene F. Reilly purchased 5,554 shares of the company’s 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 owned 5,689 shares in the company, valued at $1,018,274.11. The trade was a 4,114.07% increase in their ownership of the stock. The purchase 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 the business’s stock in a transaction that occurred 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 completion of the sale, the insider owned 211,379 shares in the company, valued at $14,743,685.25. The trade was a 91.54% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.17% of the stock is currently owned by insiders.

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.