AEGON ASSET MANAGEMENT UK Plc Lowers Holdings in American Tower Corporation $AMT

AEGON ASSET MANAGEMENT UK Plc lowered its stake in shares of American Tower Corporation (NYSE:AMT) by 24.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 277,060 shares of the real estate investment trust’s stock after selling 90,304 shares during the period. AEGON ASSET MANAGEMENT UK Plc owned 0.06% of American Tower worth $53,256,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Abound Wealth Management lifted its stake in American Tower by 137.3% in the 3rd quarter. Abound Wealth Management now owns 140 shares of the real estate investment trust’s stock worth $27,000 after purchasing an additional 81 shares in the last quarter. Legacy Investment Solutions LLC purchased a new position in shares of American Tower during the second quarter valued at about $31,000. Root Financial Partners LLC bought a new stake in shares of American Tower in the third quarter worth about $32,000. VSM Wealth Advisory LLC lifted its position in shares of American Tower by 136.4% in the second quarter. VSM Wealth Advisory LLC now owns 156 shares of the real estate investment trust’s stock worth $34,000 after buying an additional 90 shares in the last quarter. Finally, Salomon & Ludwin LLC boosted its stake in American Tower by 147.9% during the third quarter. Salomon & Ludwin LLC now owns 181 shares of the real estate investment trust’s stock valued at $34,000 after buying an additional 108 shares during the last quarter. Institutional investors own 92.69% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on AMT. New Street Research raised American Tower from a “neutral” rating to a “buy” rating and set a $203.00 price objective on the stock in a research note on Monday, January 5th. BMO Capital Markets lowered shares of American Tower from an “outperform” rating to a “market perform” rating and cut their target price for the company from $210.00 to $185.00 in a report on Friday, January 9th. Wall Street Zen raised shares of American Tower from a “sell” rating to a “hold” rating in a research note on Sunday, October 12th. Argus set a $210.00 price objective on shares of American Tower in a research report on Thursday, October 30th. Finally, Mizuho dropped their price objective on shares of American Tower from $217.00 to $189.00 and set a “neutral” rating for the company in a research note on Monday, January 12th. Two research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $218.79.

Insider Activity at American Tower

In other American Tower news, Director Eugene F. Reilly purchased 5,554 shares of the firm’s stock in a transaction that occurred on Friday, October 31st. The stock was purchased at an average cost of $178.99 per share, with a total value of $994,110.46. Following the purchase, the director owned 5,689 shares of the company’s stock, valued at approximately $1,018,274.11. The trade was a 4,114.07% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Tower Corp /Ma/ American sold 2,288,621 shares of the company’s stock in a transaction 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 completion of the transaction, the insider directly owned 211,379 shares in the company, valued at $14,743,685.25. This trade represents a 91.54% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.18% of the stock is owned by insiders.

American Tower Trading Up 1.0%

AMT stock opened at $178.68 on Monday. American Tower Corporation has a twelve month low of $166.88 and a twelve month high of $234.33. The stock has a market capitalization of $83.65 billion, a price-to-earnings ratio of 28.54, a price-to-earnings-growth ratio of 0.75 and a beta of 0.92. 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 firm’s fifty day simple moving average is $177.51 and its two-hundred day simple moving average is $191.55.

American Tower (NYSE:AMT) last released its earnings results on Tuesday, October 28th. The real estate investment trust reported $2.78 earnings per share (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 firm had revenue of $2.72 billion during the quarter, compared to analyst estimates of $2.65 billion. During the same quarter last year, the business earned $2.52 EPS. The business’s revenue was up 7.7% on a year-over-year basis. American Tower has set its FY 2025 guidance at 10.600-10.720 EPS. As a group, analysts anticipate that American Tower Corporation will post 10.14 earnings per share for the current year.

American Tower Dividend Announcement

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

About American Tower

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.