Verity Asset Management Inc. Increases Position in American Tower Corporation $AMT

Verity Asset Management Inc. lifted its holdings in American Tower Corporation (NYSE:AMT) by 39.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,974 shares of the real estate investment trust’s stock after purchasing an additional 561 shares during the period. Verity Asset Management Inc.’s holdings in American Tower were worth $436,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Burney Co. increased its stake in shares of American Tower by 10.3% in the 2nd quarter. Burney Co. now owns 28,027 shares of the real estate investment trust’s stock valued at $6,194,000 after purchasing an additional 2,624 shares in the last quarter. State of Michigan Retirement System increased its stake in shares of American Tower by 6.9% in the 2nd quarter. State of Michigan Retirement System now owns 135,484 shares of the real estate investment trust’s stock valued at $29,945,000 after purchasing an additional 8,700 shares in the last quarter. iA Global Asset Management Inc. increased its stake in shares of American Tower by 226.8% in the 2nd quarter. iA Global Asset Management Inc. now owns 3,448 shares of the real estate investment trust’s stock valued at $762,000 after purchasing an additional 2,393 shares in the last quarter. Mission Wealth Management LP boosted its holdings in American Tower by 6.3% in the 2nd quarter. Mission Wealth Management LP now owns 3,239 shares of the real estate investment trust’s stock worth $716,000 after buying an additional 191 shares during the last quarter. Finally, Accuvest Global Advisors acquired a new stake in American Tower in the 2nd quarter worth about $2,644,000. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. JPMorgan Chase & Co. lowered their price objective on American Tower from $255.00 to $250.00 and set an “overweight” rating on the stock in a report on Wednesday, October 29th. Argus set a $210.00 price objective on American Tower in a report on Thursday. Citigroup reiterated a “market outperform” rating on shares of American Tower in a report on Wednesday. BMO Capital Markets lowered their price objective on American Tower from $220.00 to $215.00 and set an “outperform” rating on the stock in a report on Wednesday, October 29th. Finally, Royal Bank Of Canada set a $220.00 price objective on American Tower and gave the stock a “sector perform” rating in a report on Wednesday, October 1st. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $231.11.

American Tower Trading Down 0.2%

Shares of American Tower stock opened at $179.18 on Monday. The stock has a market cap of $83.90 billion, a P/E ratio of 28.62, a P/E/G ratio of 1.08 and a beta of 0.86. The stock’s 50 day simple moving average is $192.70 and its 200-day simple moving average is $207.91. American Tower Corporation has a 1-year low of $172.51 and a 1-year high of $234.33. The company has a debt-to-equity ratio of 3.24, a current ratio of 0.89 and a quick ratio of 0.95.

American Tower (NYSE:AMT) last issued its earnings results on Tuesday, October 28th. The real estate investment trust reported $2.78 earnings per share for the quarter, topping the consensus estimate of $2.64 by $0.14. The business had revenue of $2.72 billion for the quarter, compared to analysts’ expectations of $2.65 billion. American Tower had a return on equity of 28.79% and a net margin of 28.11%.The business’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.52 EPS. American Tower has set its FY 2025 guidance at 10.600-10.720 EPS. Analysts predict that American Tower Corporation will post 10.14 EPS for the current fiscal year.

American Tower Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, October 20th. Stockholders of record on Tuesday, September 30th were issued a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a dividend yield of 3.8%. The ex-dividend date was Tuesday, September 30th. American Tower’s payout ratio is currently 108.63%.

About American Tower

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.