NEOS Investment Management LLC Has $1.43 Million Stock Holdings in American Tower Co. (NYSE:AMT)

03 Jun 2024, 22:04 by Danessa Lincoln · The Markets Daily

NEOS Investment Management LLC grew its position in American Tower Co. (NYSE:AMT – Free Report) by 47.3% during the 4th quarter, Holdings Channel reports. The firm owned 6,599 shares of the real estate investment trust’s stock after purchasing an additional 2,118 shares during the quarter. NEOS Investment Management LLC’s holdings in American Tower were worth $1,425,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Gold Investment Management Ltd. acquired a new stake in shares of American Tower in the 4th quarter valued at $28,000. Thompson Investment Management Inc. bought a new stake in American Tower during the 4th quarter worth about $29,000. Private Wealth Management Group LLC bought a new stake in American Tower during the 4th quarter worth about $31,000. Brown Shipley& Co Ltd bought a new stake in American Tower during the 3rd quarter worth about $35,000. Finally, Valley National Advisers Inc. raised its holdings in American Tower by 200.0% during the 4th quarter. Valley National Advisers Inc. now owns 177 shares of the real estate investment trust’s stock worth $38,000 after purchasing an additional 118 shares during the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

Insider Transactions at American Tower

In other news, Director Robert D. Hormats sold 700 shares of the business’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $183.50, for a total value of $128,450.00. Following the sale, the director now owns 7,332 shares of the company’s stock, valued at $1,345,422. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, CFO Rodney M. Smith sold 11,510 shares of the stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $205.71, for a total value of $2,367,722.10. Following the transaction, the chief financial officer now directly owns 62,969 shares of the company’s stock, valued at $12,953,352.99. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robert D. Hormats sold 700 shares of American Tower stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $183.50, for a total transaction of $128,450.00. Following the sale, the director now directly owns 7,332 shares of the company’s stock, valued at approximately $1,345,422. The disclosure for this sale can be found here. 0.18% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several analysts have weighed in on AMT shares. Morgan Stanley boosted their price objective on American Tower from $183.00 to $196.00 and gave the stock an “equal weight” rating in a report on Monday, April 15th. Mizuho initiated coverage on American Tower in a report on Monday, April 8th. They set a “neutral” rating and a $205.00 price objective for the company. Barclays cut their price target on shares of American Tower from $234.00 to $223.00 and set an “overweight” rating on the stock in a research report on Thursday. StockNews.com downgraded shares of American Tower from a “buy” rating to a “hold” rating in a research note on Friday, March 1st. Finally, Scotiabank reduced their price target on shares of American Tower from $243.00 to $223.00 and set a “sector outperform” rating on the stock in a research report on Wednesday, May 1st. Three equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $220.91.

Get Our Latest Report on AMT

American Tower Stock Up 0.6 %

Shares of American Tower stock traded up $1.23 on Monday, hitting $196.97. The company had a trading volume of 2,266,697 shares, compared to its average volume of 2,459,038. The firm has a market capitalization of $91.98 billion, a P/E ratio of 44.29, a P/E/G ratio of 1.40 and a beta of 0.79. American Tower Co. has a twelve month low of $154.58 and a twelve month high of $219.10. The company has a debt-to-equity ratio of 3.39, a current ratio of 0.85 and a quick ratio of 0.85. The stock has a 50-day moving average of $184.67 and a 200-day moving average of $196.27.

American Tower (NYSE:AMT – Get Free Report) last released its quarterly earnings results on Tuesday, April 30th. The real estate investment trust reported $1.96 earnings per share for the quarter, missing the consensus estimate of $2.43 by ($0.47). The company had revenue of $2.83 billion during the quarter, compared to analyst estimates of $2.79 billion. American Tower had a net margin of 18.42% and a return on equity of 18.45%. The firm’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same quarter last year, the company earned $2.54 EPS. Research analysts predict that American Tower Co. will post 9.98 earnings per share for the current year.

American Tower Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 12th. Stockholders of record on Friday, June 14th will be given a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.29%. The ex-dividend date of this dividend is Friday, June 14th. American Tower’s dividend payout ratio is presently 146.61%.

About American Tower

(Free Report)

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.