Acadian Asset Management LLC Grows Stake in American Tower Corporation $AMT

Acadian Asset Management LLC increased its holdings in American Tower Corporation (NYSE:AMT) by 152.6% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 12,901 shares of the real estate investment trust’s stock after buying an additional 7,794 shares during the period. Acadian Asset Management LLC’s holdings in American Tower were worth $2,850,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in AMT. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of American Tower by 7.1% during the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 891,281 shares of the real estate investment trust’s stock valued at $196,991,000 after acquiring an additional 59,346 shares during the last quarter. Parkside Financial Bank & Trust increased its position in shares of American Tower by 7.9% in the second quarter. Parkside Financial Bank & Trust now owns 2,362 shares of the real estate investment trust’s stock worth $522,000 after purchasing an additional 172 shares during the last quarter. Los Angeles Capital Management LLC raised its stake in American Tower by 52.5% in the second quarter. Los Angeles Capital Management LLC now owns 321,661 shares of the real estate investment trust’s stock valued at $71,094,000 after purchasing an additional 110,671 shares in the last quarter. RWA Wealth Partners LLC lifted its position in American Tower by 37.8% during the second quarter. RWA Wealth Partners LLC now owns 3,157 shares of the real estate investment trust’s stock valued at $698,000 after purchasing an additional 866 shares during the last quarter. Finally, AE Wealth Management LLC grew its stake in American Tower by 8.5% in the 2nd quarter. AE Wealth Management LLC now owns 22,689 shares of the real estate investment trust’s stock worth $5,015,000 after buying an additional 1,779 shares in the last quarter. Institutional investors own 92.69% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on AMT shares. BMO Capital Markets lowered their price objective on shares of American Tower from $220.00 to $215.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 29th. Royal Bank Of Canada set a $220.00 target price on American Tower and gave the company a “sector perform” rating in a research note on Wednesday, October 1st. UBS Group reaffirmed a “buy” rating and set a $260.00 price target on shares of American Tower in a research note on Wednesday, October 29th. Argus set a $210.00 price objective on American Tower in a report on Thursday, October 30th. Finally, Barclays raised their price objective on American Tower from $250.00 to $251.00 and gave the company an “overweight” rating in a report on Friday, October 17th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, American Tower presently has an average rating of “Moderate Buy” and a consensus target price of $231.11.

Insider Activity

In other news, Director Eugene F. Reilly bought 5,554 shares of the firm’s 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 completion of the purchase, the director directly owned 5,689 shares in the company, valued at $1,018,274.11. This represents a 4,114.07% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.17% of the company’s stock.

American Tower Stock Up 1.4%

Shares of NYSE:AMT opened at $183.58 on Friday. The stock has a market capitalization of $85.94 billion, a P/E ratio of 29.33, a price-to-earnings-growth ratio of 1.08 and a beta of 0.85. The stock’s 50-day moving average price is $188.36 and its 200-day moving average price is $205.54. 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 for the quarter, beating analysts’ consensus estimates of $2.64 by $0.14. American Tower had a return on equity of 28.79% and a net margin of 28.11%.The company had revenue of $2.72 billion during the quarter, compared to analyst estimates of $2.65 billion. During the same quarter in the previous year, the company posted $2.52 EPS. American Tower’s revenue for the quarter was up 7.7% on a year-over-year basis. American Tower has set its FY 2025 guidance at 10.600-10.720 EPS. On average, equities analysts anticipate that American Tower Corporation will post 10.14 earnings per share for the current year.

American Tower Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, October 20th. Stockholders of record on Tuesday, September 30th were paid a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date of this dividend was Tuesday, September 30th. American Tower’s dividend payout ratio is 108.63%.

American Tower Company 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.