AEGON ASSET MANAGEMENT UK Plc Has $81.15 Million Holdings in American Tower Corporation $AMT

Key Points

• AEGON ASSET MANAGEMENT UK Plc increased its holdings in American Tower Corporation by 58.4%, now owning approximately $81.15 million worth of shares.
• Research firms have mixed opinions on American Tower, with ratings ranging from "Strong Buy" to "Hold," and a current average price target of $241.06.
• American Tower has announced a quarterly dividend of $1.70, representing an annualized yield of 3.6%, despite a net margin decline year-over-year.

AEGON ASSET MANAGEMENT UK Plc lifted its holdings in American Tower Corporation (NYSE:AMT - Free Report) by 58.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 367,364 shares of the real estate investment trust's stock after acquiring an additional 135,451 shares during the quarter. American Tower makes up approximately 1.0% of AEGON ASSET MANAGEMENT UK Plc's holdings, making the stock its 22nd largest holding. AEGON ASSET MANAGEMENT UK Plc owned about 0.08% of American Tower worth $81,154,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of AMT. Blossom Wealth Management lifted its holdings in American Tower by 1.8% during the 2nd quarter. Blossom Wealth Management now owns 2,601 shares of the real estate investment trust's stock worth $575,000 after buying an additional 45 shares in the last quarter. TFG Advisers LLC lifted its holdings in American Tower by 0.3% during the 2nd quarter. TFG Advisers LLC now owns 16,186 shares of the real estate investment trust's stock worth $3,578,000 after buying an additional 47 shares in the last quarter. Novem Group lifted its holdings in American Tower by 3.8% during the 2nd quarter. Novem Group now owns 1,316 shares of the real estate investment trust's stock worth $291,000 after buying an additional 48 shares in the last quarter. Cypress Wealth Services LLC lifted its holdings in American Tower by 1.9% during the 2nd quarter. Cypress Wealth Services LLC now owns 2,684 shares of the real estate investment trust's stock worth $593,000 after buying an additional 49 shares in the last quarter. Finally, Elmwood Wealth Management Inc. lifted its holdings in American Tower by 2.5% during the 1st quarter. Elmwood Wealth Management Inc. now owns 2,087 shares of the real estate investment trust's stock worth $454,000 after buying an additional 50 shares in the last quarter. 92.69% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have issued reports on AMT. BMO Capital Markets reaffirmed an "outperform" rating and set a $245.00 price objective (down previously from $250.00) on shares of American Tower in a report on Wednesday, July 30th. The Goldman Sachs Group reaffirmed a "buy" rating on shares of American Tower in a report on Tuesday, July 29th. Wall Street Zen upgraded shares of American Tower from a "sell" rating to a "hold" rating in a research report on Sunday. HSBC cut shares of American Tower from a "buy" rating to a "hold" rating and set a $235.00 target price for the company. in a research report on Wednesday, July 30th. Finally, Jefferies Financial Group dropped their target price on shares of American Tower from $281.00 to $226.00 and set a "buy" rating for the company in a research report on Monday. Two investment analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $241.06.

American Tower Price Performance

AMT opened at $186.43 on Wednesday. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 3.36. American Tower Corporation has a 12 month low of $172.51 and a 12 month high of $234.33. The company has a fifty day simple moving average of $197.68 and a 200 day simple moving average of $210.40. The stock has a market cap of $87.30 billion, a P/E ratio of 67.79, a P/E/G ratio of 1.11 and a beta of 0.86.

American Tower (NYSE:AMT - Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The real estate investment trust reported $2.60 EPS for the quarter, beating analysts' consensus estimates of $2.59 by $0.01. American Tower had a net margin of 12.60% and a return on equity of 24.85%. The business had revenue of $2.63 billion during the quarter, compared to analysts' expectations of $2.58 billion. During the same quarter in the prior year, the company earned $2.79 EPS. The firm's quarterly revenue was down 9.4% on a year-over-year basis. American Tower has set its FY 2025 guidance at 10.460-10.650 EPS. On average, research analysts expect that American Tower Corporation will post 10.14 EPS for the current year.

American Tower Announces Dividend

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

Insider Activity at American Tower

In related 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 value of $149,997.60. Following the completion of the sale, the chief executive officer owned 23,425 shares in the company, valued at $4,880,130.25. This represents a 2.98% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.18% of the stock is currently owned by corporate insiders.

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.

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