OFI Invest Asset Management Purchases 9,143 Shares of American Tower Corporation $AMT

OFI Invest Asset Management boosted its position in shares of American Tower Corporation (NYSE:AMT) by 7.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 129,967 shares of the real estate investment trust’s stock after acquiring an additional 9,143 shares during the period. OFI Invest Asset Management’s holdings in American Tower were worth $28,725,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in AMT. North Capital Inc. acquired a new stake in American Tower during the first quarter valued at approximately $25,000. Hopwood Financial Services Inc. boosted its holdings in American Tower by 100.0% during the first quarter. Hopwood Financial Services Inc. now owns 120 shares of the real estate investment trust’s stock valued at $26,000 after purchasing an additional 60 shares in the last quarter. E Fund Management Hong Kong Co. Ltd. acquired a new stake in American Tower during the first quarter valued at approximately $31,000. Saudi Central Bank acquired a new stake in American Tower during the first quarter valued at approximately $40,000. Finally, Accredited Wealth Management LLC boosted its holdings in shares of American Tower by 180.0% in the 1st quarter. Accredited Wealth Management LLC now owns 210 shares of the real estate investment trust’s stock worth $46,000 after acquiring an additional 135 shares in the last quarter. 92.69% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently commented on AMT. Royal Bank Of Canada set a $220.00 target price on American Tower and gave the stock a “sector perform” rating in a report on Wednesday, October 1st. Wells Fargo & Company reduced their target price on American Tower from $240.00 to $230.00 and set an “overweight” rating on the stock in a report on Wednesday, July 30th. Weiss Ratings reissued a “hold (c-)” rating on shares of American Tower in a report on Wednesday. JPMorgan Chase & Co. boosted their target price on American Tower from $250.00 to $255.00 and gave the stock an “overweight” rating in a report on Wednesday, July 30th. Finally, Raymond James Financial set a $250.00 price objective on American Tower and gave the stock a “strong-buy” rating in a report on Wednesday, July 30th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $242.07.

Insider Activity at American Tower

In other American Tower news, CEO Juan Font sold 720 shares of the company’s stock in a transaction on Thursday, July 31st. The shares were sold at an average price of $208.33, for a total transaction of $149,997.60. Following the completion of the sale, the chief executive officer owned 23,425 shares in the company, valued at approximately $4,880,130.25. The trade was a 2.98% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.17% of the company’s stock.

American Tower Stock Performance

Shares of American Tower stock opened at $186.60 on Friday. The firm has a fifty day moving average of $198.75 and a two-hundred day moving average of $210.82. The stock has a market capitalization of $87.38 billion, a price-to-earnings ratio of 67.85, a PEG ratio of 1.13 and a beta of 0.86. American Tower Corporation has a 52 week low of $172.51 and a 52 week high of $234.33. The company has a debt-to-equity ratio of 3.36, a quick ratio of 0.95 and a current ratio of 0.95.

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

American Tower Announces Dividend

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

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.