Border to Coast Pensions Partnership Ltd Boosts Holdings in American Tower Corporation $AMT

Key Points

• Border to Coast Pensions Partnership Ltd increased its holdings in American Tower Corporation by 2.0%, acquiring an additional 7,584 shares during the second quarter, bringing its total ownership to approximately 384,764 shares valued at $85,041,000.
• American Tower's recent quarterly earnings report showed an EPS of $2.60, beating expectations, although revenue decreased by 9.4% compared to the previous year.
• The company announced a quarterly dividend of $1.70 per share, which will be paid to stockholders of record on September 30, representing a dividend yield of 3.5%.

Border to Coast Pensions Partnership Ltd boosted its holdings in American Tower Corporation (NYSE:AMT - Free Report) by 2.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 384,764 shares of the real estate investment trust's stock after purchasing an additional 7,584 shares during the quarter. American Tower comprises 1.6% of Border to Coast Pensions Partnership Ltd's investment portfolio, making the stock its 15th largest holding. Border to Coast Pensions Partnership Ltd owned 0.08% of American Tower worth $85,041,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Brighton Jones LLC lifted its holdings in shares of American Tower by 113.0% in the 4th quarter. Brighton Jones LLC now owns 3,966 shares of the real estate investment trust's stock valued at $727,000 after buying an additional 2,104 shares during the period. Two Sigma Advisers LP purchased a new position in American Tower in the fourth quarter worth $2,990,000. Vident Advisory LLC lifted its holdings in American Tower by 8.1% in the fourth quarter. Vident Advisory LLC now owns 4,611 shares of the real estate investment trust's stock valued at $846,000 after acquiring an additional 347 shares during the period. Woodline Partners LP purchased a new stake in shares of American Tower during the 4th quarter worth $5,219,000. Finally, Waverly Advisors LLC grew its stake in shares of American Tower by 11.1% during the 4th quarter. Waverly Advisors LLC now owns 6,068 shares of the real estate investment trust's stock worth $1,113,000 after purchasing an additional 604 shares during the period. Hedge funds and other institutional investors own 92.69% of the company's stock.

Insider Buying and Selling

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 value of $149,997.60. Following the transaction, the chief executive officer 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 transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.17% of the company's stock.

American Tower Trading Up 0.1%

Shares of AMT traded up $0.13 during mid-day trading on Monday, hitting $193.44. The company had a trading volume of 3,411,004 shares, compared to its average volume of 2,668,204. The business's 50-day simple moving average is $208.18 and its 200-day simple moving average is $213.04. 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 1-year low of $172.51 and a 1-year high of $238.34. The stock has a market cap of $90.58 billion, a PE ratio of 70.34, a P/E/G ratio of 1.19 and a beta of 0.86.

American Tower (NYSE:AMT - Get Free Report) last released its earnings results on Tuesday, July 29th. The real estate investment trust reported $2.60 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts' expectations of $2.58 billion. During the same period last year, the company earned $2.79 earnings per share. The company'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. Sell-side analysts forecast that American Tower Corporation will post 10.14 earnings per share for the current year.

American Tower Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 20th. Investors of record on Tuesday, September 30th will be issued a $1.70 dividend. The ex-dividend date is Tuesday, September 30th. This represents a $6.80 annualized dividend and a yield of 3.5%. American Tower's dividend payout ratio (DPR) is presently 247.27%.

Wall Street Analyst Weigh In

A number of analysts recently commented on AMT shares. Royal Bank Of Canada boosted their price objective on shares of American Tower from $250.00 to $260.00 and gave the stock an "outperform" rating in a report on Thursday, July 31st. UBS Group boosted their price objective on shares of American Tower from $250.00 to $260.00 and gave the stock a "buy" rating in a report on Tuesday, July 8th. Wells Fargo & Company lowered their price objective on shares of American Tower from $240.00 to $230.00 and set an "overweight" rating on the stock in a research note on Wednesday, July 30th. Barclays increased their price objective on shares of American Tower from $246.00 to $250.00 and gave the company an "overweight" rating in a research note on Monday, August 18th. Finally, BMO Capital Markets reissued an "outperform" rating and issued a $245.00 price objective (down from $250.00) on shares of American Tower in a research note on Wednesday, July 30th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, American Tower has an average rating of "Moderate Buy" and an average target price of $244.73.

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.