Generali Asset Management SPA SGR Lowers Holdings in American Tower Corporation $AMT

Generali Asset Management SPA SGR reduced its stake in shares of American Tower Corporation (NYSE:AMT) by 27.5% in the third quarter, HoldingsChannel reports. The institutional investor owned 36,226 shares of the real estate investment trust’s stock after selling 13,774 shares during the period. Generali Asset Management SPA SGR’s holdings in American Tower were worth $6,967,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. Norges Bank bought a new position in shares of American Tower during the second quarter worth $1,371,875,000. JPMorgan Chase & Co. lifted its stake in American Tower by 24.3% in the 2nd quarter. JPMorgan Chase & Co. now owns 12,666,082 shares of the real estate investment trust’s stock worth $2,799,458,000 after purchasing an additional 2,474,328 shares in the last quarter. Viking Global Investors LP boosted its holdings in shares of American Tower by 233.5% during the 2nd quarter. Viking Global Investors LP now owns 2,797,125 shares of the real estate investment trust’s stock valued at $618,221,000 after purchasing an additional 1,958,329 shares during the last quarter. Invesco Ltd. grew its position in shares of American Tower by 11.9% during the second quarter. Invesco Ltd. now owns 6,680,524 shares of the real estate investment trust’s stock valued at $1,476,529,000 after purchasing an additional 708,808 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA grew its position in shares of American Tower by 13.7% during the second quarter. Massachusetts Financial Services Co. MA now owns 3,605,059 shares of the real estate investment trust’s stock valued at $796,790,000 after purchasing an additional 434,537 shares in the last quarter. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Analyst Ratings Changes

AMT has been the subject of a number of research reports. JPMorgan Chase & Co. dropped their price target on American Tower from $255.00 to $250.00 and set an “overweight” rating for the company in a research note on Wednesday, October 29th. The Goldman Sachs Group decreased their price objective on American Tower from $250.00 to $230.00 and set a “buy” rating on the stock in a report 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 report on Tuesday, December 16th. Wall Street Zen upgraded shares of American Tower from a “sell” rating to a “hold” rating in a research report on Sunday, October 12th. Finally, Raymond James Financial reaffirmed a “strong-buy” rating and set a $231.00 price target (down previously from $250.00) 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 assigned a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $226.67.

American Tower Stock Performance

NYSE AMT opened at $174.74 on Friday. The business’s 50 day moving average price is $178.95 and its 200-day moving average price is $196.49. American Tower Corporation has a fifty-two week low of $170.77 and a fifty-two week high of $234.33. The company has a market cap of $81.80 billion, a P/E ratio of 27.91, a P/E/G ratio of 0.67 and a beta of 0.92. 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 (NYSE:AMT) last posted its quarterly earnings data on Tuesday, October 28th. The real estate investment trust reported $2.78 EPS for the quarter, topping the consensus estimate of $2.64 by $0.14. American Tower had a net margin of 28.11% and a return on equity of 28.79%. The company had revenue of $2.72 billion during the quarter, compared to analyst estimates of $2.65 billion. During the same period in the previous year, the firm earned $2.52 earnings per share. American Tower’s quarterly revenue was up 7.7% compared to the same quarter last year. American Tower has set its FY 2025 guidance at 10.600-10.720 EPS. Sell-side 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 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 annualized dividend and a yield of 3.9%. The ex-dividend date is Monday, December 29th. American Tower’s dividend payout ratio is presently 108.63%.

Insider Transactions at American Tower

In other news, Director Eugene F. Reilly acquired 5,554 shares of American Tower stock in a transaction that occurred on Friday, October 31st. The shares were bought at an average cost of $178.99 per share, with a total value of $994,110.46. Following the transaction, the director directly owned 5,689 shares of the company’s stock, valued at $1,018,274.11. This trade represents a 4,114.07% increase in their position. The acquisition 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 business’s stock in a transaction that occurred on 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 transaction, the insider owned 211,379 shares of the company’s stock, valued at $14,743,685.25. This trade represents a 91.54% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.17% of the company’s stock.

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.