Groupe la Francaise Purchases 7,185 Shares of American Tower Corporation $AMT

Groupe la Francaise boosted its position in shares of American Tower Corporation (NYSE:AMT) by 141.3% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 12,270 shares of the real estate investment trust’s stock after purchasing an additional 7,185 shares during the period. Groupe la Francaise’s holdings in American Tower were worth $2,705,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in shares of American Tower by 0.3% in the second quarter. Vanguard Group Inc. now owns 63,028,367 shares of the real estate investment trust’s stock worth $13,930,530,000 after buying an additional 218,881 shares during the period. JPMorgan Chase & Co. grew its position 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 valued at $2,799,458,000 after acquiring an additional 2,474,328 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in American Tower by 39.6% in 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 purchasing an additional 2,309,627 shares during the period. Deutsche Bank AG lifted 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 purchasing an additional 285,195 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake 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 valued at $1,421,965,000 after purchasing an additional 88,120 shares during the period. Institutional investors own 92.69% of the company’s stock.

Insider Buying and Selling

In other news, Director Eugene F. Reilly bought 5,554 shares of the stock in a transaction on Friday, October 31st. The stock was bought at an average cost of $178.99 per share, for a total transaction of $994,110.46. Following the completion of the purchase, the director directly owned 5,689 shares in the company, valued at approximately $1,018,274.11. The trade was a 4,114.07% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.17% of the stock is owned by insiders.

American Tower Stock Performance

Shares of AMT stock opened at $176.11 on Thursday. The firm has a market cap of $82.45 billion, a price-to-earnings ratio of 28.13, a PEG ratio of 0.70 and a beta of 0.91. American Tower Corporation has a 52-week low of $172.51 and a 52-week high of $234.33. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 3.24. The company’s 50 day moving average is $184.54 and its 200 day moving average is $202.03.

American Tower (NYSE:AMT) last announced its earnings results on Tuesday, October 28th. The real estate investment trust reported $2.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.64 by $0.14. American Tower had a return on equity of 28.79% and a net margin of 28.11%.The business had revenue of $2.72 billion for the quarter, compared to analysts’ expectations of $2.65 billion. During the same quarter last year, the firm earned $2.52 EPS. The business’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, sell-side analysts anticipate that American Tower Corporation will post 10.14 EPS for the current fiscal year.

American Tower Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, October 20th. Shareholders of record on Tuesday, September 30th were given a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a dividend yield of 3.9%. The ex-dividend date of this dividend was Tuesday, September 30th. American Tower’s dividend payout ratio is presently 108.63%.

Analyst Upgrades and Downgrades

AMT has been the topic of several recent analyst reports. HSBC reduced their price target on shares of American Tower from $235.00 to $205.00 in a research note on Wednesday, October 29th. Raymond James Financial reaffirmed a “strong-buy” rating and set a $231.00 target price (down from $250.00) on shares of American Tower in a research report on Wednesday, October 29th. Jefferies Financial Group lowered their price target on American Tower from $281.00 to $226.00 and set a “buy” rating for the company in a report on Monday, October 13th. Wells Fargo & Company reduced their price objective on American Tower from $210.00 to $200.00 and set an “overweight” rating on the stock in a report on Wednesday, October 29th. Finally, JPMorgan Chase & Co. decreased their target price on American Tower from $255.00 to $250.00 and set an “overweight” rating for the company in a research report on Wednesday, October 29th. Two investment 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. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $228.00.

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.