Vinva Investment Management Ltd Grows Holdings in American Tower Corporation $AMT

Vinva Investment Management Ltd grew its stake in shares of American Tower Corporation (NYSE:AMT) by 67.3% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 53,460 shares of the real estate investment trust’s stock after buying an additional 21,514 shares during the period. Vinva Investment Management Ltd’s holdings in American Tower were worth $11,643,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Safe Harbor Fiduciary LLC raised its position in American Tower by 3.4% during the second quarter. Safe Harbor Fiduciary LLC now owns 5,484 shares of the real estate investment trust’s stock valued at $1,212,000 after purchasing an additional 179 shares in the last quarter. Employees Retirement System of Texas purchased a new stake in American Tower during the 2nd quarter valued at about $3,466,000. Northwest & Ethical Investments L.P. boosted its stake in shares of American Tower by 12.5% during the second quarter. Northwest & Ethical Investments L.P. now owns 46,064 shares of the real estate investment trust’s stock valued at $10,181,000 after purchasing an additional 5,127 shares during the period. J.W. Cole Advisors Inc. grew its holdings in American Tower by 95.4% in the 2nd quarter. J.W. Cole Advisors Inc. now owns 13,854 shares of the real estate investment trust’s stock worth $3,062,000 after acquiring an additional 6,764 shares during the last quarter. Finally, Manchester Capital Management LLC grew its stake in shares of American Tower by 3.1% in the second quarter. Manchester Capital Management LLC now owns 1,808 shares of the real estate investment trust’s stock worth $400,000 after purchasing an additional 54 shares during the last quarter. 92.69% of the stock is owned by institutional investors.

Insiders Place Their Bets

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

Wall Street Analysts Forecast Growth

AMT has been the subject of several recent research reports. Weiss Ratings reissued a “hold (c)” rating on shares of American Tower in a research report on Tuesday. Barclays reduced their price objective on American Tower from $251.00 to $203.00 and set an “overweight” rating for the company in a report on Monday, November 17th. Hsbc Global Res cut American Tower from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 30th. Raymond James Financial reissued a “strong-buy” rating and issued a $231.00 price objective (down previously from $250.00) on shares of American Tower in a report on Wednesday, October 29th. Finally, TD Cowen cut their price target on American Tower from $249.00 to $235.00 and set a “buy” rating for the company in a report on Wednesday, October 29th. Two investment 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 company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $228.44.

American Tower Stock Performance

Shares of NYSE AMT opened at $181.39 on Thursday. The company has a market capitalization of $84.92 billion, a PE ratio of 28.98, a price-to-earnings-growth ratio of 1.08 and a beta of 0.85. The company has a debt-to-equity ratio of 3.24, a quick ratio of 0.95 and a current ratio of 0.89. The company’s fifty day moving average price is $186.05 and its 200 day moving average price is $203.08. American Tower Corporation has a 1 year low of $172.51 and a 1 year high of $234.33.

American Tower (NYSE:AMT) last released its quarterly 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. American Tower had a return on equity of 28.79% and a net margin of 28.11%.The company had revenue of $2.72 billion for the quarter, compared to analysts’ expectations of $2.65 billion. During the same period in the prior year, the firm earned $2.52 earnings per share. The firm’s revenue was up 7.7% compared to the same quarter last year. American Tower has set its FY 2025 guidance at 10.600-10.720 EPS. On average, research analysts predict that American Tower Corporation will post 10.14 earnings per share for the current year.

American Tower Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, October 20th. Investors of record on Tuesday, September 30th were paid a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date was Tuesday, September 30th. American Tower’s payout ratio is 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.