American Tower Corporation $AMT Stock Holdings Lifted by LGT Fund Management Co Ltd.

LGT Fund Management Co Ltd. grew its stake in American Tower Corporation (NYSE:AMT) by 7.0% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 76,886 shares of the real estate investment trust’s stock after buying an additional 5,026 shares during the period. American Tower makes up approximately 1.5% of LGT Fund Management Co Ltd.’s holdings, making the stock its 16th biggest position. LGT Fund Management Co Ltd.’s holdings in American Tower were worth $16,993,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in AMT. Nuveen LLC acquired a new stake in shares of American Tower in the first quarter worth about $991,525,000. Price T Rowe Associates Inc. MD lifted its position in shares of 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 buying an additional 2,309,627 shares during the last quarter. Bessemer Group Inc. lifted its position in shares of American Tower by 272.0% in the first quarter. Bessemer Group Inc. now owns 1,136,903 shares of the real estate investment trust’s stock worth $247,390,000 after buying an additional 831,247 shares during the last quarter. Alyeska Investment Group L.P. acquired a new stake in shares of American Tower in the first quarter worth about $162,127,000. Finally, Amundi lifted its position in shares of American Tower by 35.5% in the first quarter. Amundi now owns 2,838,421 shares of the real estate investment trust’s stock worth $645,694,000 after buying an additional 743,617 shares during the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

Insider Transactions at American Tower

In related news, CEO Juan Font sold 720 shares of the business’s stock in a transaction dated Thursday, July 31st. The stock was sold at an average price of $208.33, for a total transaction of $149,997.60. Following the transaction, the chief executive officer directly owned 23,425 shares in the company, valued at $4,880,130.25. The trade was a 2.98% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.17% of the stock is owned by corporate insiders.

American Tower Trading Down 0.6%

Shares of AMT opened at $190.10 on Friday. American Tower Corporation has a 12-month low of $172.51 and a 12-month high of $234.33. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 3.36. The firm has a market capitalization of $89.01 billion, a price-to-earnings ratio of 69.13, a P/E/G ratio of 1.18 and a beta of 0.86. The stock’s 50-day moving average price is $201.53 and its 200 day moving average price is $211.76.

American Tower (NYSE:AMT) last issued its quarterly earnings results on Tuesday, July 29th. The real estate investment trust reported $2.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.59 by $0.01. American Tower had a return on equity of 24.85% and a net margin of 12.60%.The firm had revenue of $2.63 billion for the quarter, compared to analyst estimates of $2.58 billion. During the same period in the previous year, the company posted $2.79 earnings per share. The company’s quarterly revenue was down 9.4% compared to the same quarter last year. American Tower has set its FY 2025 guidance at 10.460-10.650 EPS. As a group, research analysts predict that American Tower Corporation will post 10.14 earnings per share for the current year.

American Tower Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, October 20th. Investors of record on Tuesday, September 30th will be paid a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a yield of 3.6%. The ex-dividend date is Tuesday, September 30th. American Tower’s payout ratio is currently 247.27%.

Analyst Upgrades and Downgrades

AMT has been the subject of a number of analyst reports. BMO Capital Markets reaffirmed an “outperform” rating and issued a $245.00 price target (down previously from $250.00) on shares of American Tower in a research report on Wednesday, July 30th. Weiss Ratings reissued a “hold (c-)” rating on shares of American Tower in a research report on Saturday, September 27th. Wells Fargo & Company cut their price objective on American Tower from $240.00 to $230.00 and set an “overweight” rating for the company in a research report on Wednesday, July 30th. The Goldman Sachs Group reissued a “buy” rating on shares of American Tower in a research report on Tuesday, July 29th. Finally, Barclays boosted their price objective on American Tower from $246.00 to $250.00 and gave the stock an “overweight” rating in a research report on Monday, August 18th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $242.07.

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.