29,335 Shares in American Tower Corporation $AMT Purchased by Dupont Capital Management Corp

Key Points

• Dupont Capital Management Corp has acquired 29,335 shares of American Tower Corporation, valued at approximately $6.48 million, marking a significant investment in the real estate investment trust (REIT) sector.
• American Tower's stock received mixed analyst ratings, with price targets varying from $220 to $270, reflecting a consensus average target of $236.75 and a "Moderate Buy" rating.
• The company announced a quarterly dividend of $1.70 per share, resulting in an annualized dividend yield of 3.5%, despite a high dividend payout ratio of 247.27%.

Dupont Capital Management Corp acquired a new position in shares of American Tower Corporation (NYSE:AMT - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 29,335 shares of the real estate investment trust's stock, valued at approximately $6,484,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Divergent Planning LLC acquired a new stake in American Tower during the second quarter worth about $628,000. Probity Advisors Inc. grew its position in American Tower by 7.1% in the 2nd quarter. Probity Advisors Inc. now owns 2,320 shares of the real estate investment trust's stock worth $513,000 after purchasing an additional 153 shares during the last quarter. Phoenix Financial Ltd. increased its stake in shares of American Tower by 97.0% in the second quarter. Phoenix Financial Ltd. now owns 3,046 shares of the real estate investment trust's stock valued at $672,000 after purchasing an additional 1,500 shares during the period. Avidian Wealth Enterprises LLC increased its stake in shares of American Tower by 19.1% in the second quarter. Avidian Wealth Enterprises LLC now owns 1,097 shares of the real estate investment trust's stock valued at $242,000 after purchasing an additional 176 shares during the period. Finally, Bogart Wealth LLC increased its stake in shares of American Tower by 54.6% in the second quarter. Bogart Wealth LLC now owns 57,563 shares of the real estate investment trust's stock valued at $12,723,000 after purchasing an additional 20,330 shares during the period. Institutional investors and hedge funds own 92.69% of the company's stock.

Analyst Ratings Changes

AMT has been the topic of several analyst reports. UBS Group raised their price target on shares of American Tower from $250.00 to $260.00 and gave the company a "buy" rating in a research note on Tuesday, July 8th. Morgan Stanley dropped their price target on shares of American Tower from $270.00 to $235.00 and set an "overweight" rating on the stock in a research note on Thursday, October 16th. Wall Street Zen upgraded shares of American Tower from a "sell" rating to a "hold" rating in a research note on Sunday, October 12th. Citigroup dropped their price target on shares of American Tower from $250.00 to $225.00 and set a "buy" rating on the stock in a research note on Thursday, October 16th. Finally, Royal Bank Of Canada set a $220.00 price target on shares of American Tower and gave the company a "sector perform" rating in a research note on Wednesday, October 1st. Two research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and five have assigned a Hold rating to the company's stock. Based on data from MarketBeat, American Tower currently has an average rating of "Moderate Buy" and an average target price of $236.75.

Insiders Place Their Bets

In related news, CEO Juan Font sold 720 shares of the firm's stock in a transaction that occurred 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 directly owned 23,425 shares in the company, valued at approximately $4,880,130.25. This trade represents a 2.98% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.18% of the company's stock.

American Tower Trading Up 0.8%

American Tower stock opened at $192.89 on Tuesday. The firm has a 50 day simple moving average of $196.37 and a 200-day simple moving average of $209.51. The company has a debt-to-equity ratio of 3.36, a current ratio of 0.95 and a quick ratio of 0.95. The stock has a market capitalization of $90.32 billion, a PE ratio of 70.14, a price-to-earnings-growth ratio of 1.16 and a beta of 0.86. American Tower Corporation has a 12-month low of $172.51 and a 12-month high of $234.33.

American Tower (NYSE:AMT - Get Free Report) last posted its quarterly earnings data 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. The business 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 was down 9.4% on a year-over-year basis. During the same period last year, the firm posted $2.79 earnings per share. American Tower has set its FY 2025 guidance at 10.460-10.650 EPS. As a group, equities research analysts expect that American Tower Corporation will post 10.14 EPS for the current fiscal year.

American Tower Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, October 20th. Investors of record on Tuesday, September 30th were issued a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date was Tuesday, September 30th. American Tower's dividend payout ratio (DPR) 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.

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