First Trust Advisors LP Increases Holdings in American Tower Corporation $AMT

First Trust Advisors LP raised its holdings in shares of American Tower Corporation (NYSE:AMT) by 47.3% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 109,124 shares of the real estate investment trust’s stock after purchasing an additional 35,037 shares during the period. First Trust Advisors LP’s holdings in American Tower were worth $24,119,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Focus Financial Network Inc. grew its holdings in shares of American Tower by 9.1% during the 2nd quarter. Focus Financial Network Inc. now owns 2,042 shares of the real estate investment trust’s stock worth $451,000 after acquiring an additional 170 shares during the period. Resolution Capital Ltd bought a new stake in shares of American Tower during the first quarter valued at approximately $72,706,000. Stack Financial Management Inc purchased a new stake in American Tower in the second quarter worth $13,020,000. Los Angeles Capital Management LLC lifted its position in American Tower by 52.5% during 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 buying an additional 110,671 shares during the period. Finally, Nordea Investment Management AB lifted its position in American Tower by 1.0% during the second quarter. Nordea Investment Management AB now owns 1,532,818 shares of the real estate investment trust’s stock valued at $334,430,000 after buying an additional 15,920 shares during the period. 92.69% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. The Goldman Sachs Group decreased their price target on shares of American Tower from $250.00 to $230.00 and set a “buy” rating for the company in a research note on Wednesday, October 29th. Royal Bank Of Canada set a $220.00 target price on shares of American Tower and gave the company a “sector perform” rating in a research note on Wednesday, October 1st. Raymond James Financial reiterated a “strong-buy” rating and set a $231.00 target price (down from $250.00) on shares of American Tower in a report on Wednesday, October 29th. Wells Fargo & Company cut their price target on American Tower from $210.00 to $200.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 29th. Finally, Wall Street Zen raised American Tower from a “sell” rating to a “hold” rating in a research report on Sunday, October 12th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $228.00.

Insider Transactions at American Tower

In related news, Director Eugene F. Reilly purchased 5,554 shares of the company’s stock in a transaction dated Friday, October 31st. The shares were purchased at an average price of $178.99 per share, with a total value of $994,110.46. Following the acquisition, the director directly owned 5,689 shares in the company, valued at $1,018,274.11. The trade was a 4,114.07% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.17% of the company’s stock.

American Tower Stock Performance

AMT stock opened at $180.19 on Thursday. The stock has a market capitalization of $84.35 billion, a PE ratio of 28.78, a price-to-earnings-growth ratio of 0.72 and a beta of 0.91. American Tower Corporation has a 12-month low of $172.51 and a 12-month high of $234.33. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 3.24. The stock’s 50 day simple moving average is $183.20 and its 200 day simple moving average is $200.86.

American Tower (NYSE:AMT) last posted its earnings results on Tuesday, October 28th. The real estate investment trust reported $2.78 EPS for the quarter, topping analysts’ consensus estimates of $2.64 by $0.14. The business had revenue of $2.72 billion during the quarter, compared to analyst estimates of $2.65 billion. American Tower had a return on equity of 28.79% and a net margin of 28.11%.The company’s quarterly revenue was up 7.7% compared to the same quarter last year. 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. As a group, research analysts forecast that American Tower Corporation will post 10.14 earnings per share for the current fiscal year.

American Tower Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 2nd. Shareholders of record on Monday, December 29th will be given a $1.70 dividend. The ex-dividend date of this dividend is Monday, December 29th. This represents a $6.80 dividend on an annualized basis and a yield of 3.8%. American Tower’s payout ratio is 108.63%.

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.