IFM Investors Pty Ltd Boosts Holdings in American Tower Corporation $AMT

Key Points

• IFM Investors Pty Ltd increased its stake in American Tower Corporation by 4.5% in the second quarter, holding 115,679 shares valued at approximately $25.57 million as of its latest SEC filing.
• In Q1, several institutional investors made significant moves, including Nuveen LLC, which acquired a new position valued at around $991 million in American Tower.
• American Tower's stock has faced recent ratings adjustments, with HSBC downgrading it to a "hold" rating while other analysts set price targets ranging from $245 to $255.

IFM Investors Pty Ltd grew its stake in shares of American Tower Corporation (NYSE:AMT - Free Report) by 4.5% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 115,679 shares of the real estate investment trust's stock after buying an additional 4,932 shares during the period. IFM Investors Pty Ltd's holdings in American Tower were worth $25,567,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Exchange Traded Concepts LLC lifted its position in shares of American Tower by 752.6% during the 2nd quarter. Exchange Traded Concepts LLC now owns 67,873 shares of the real estate investment trust's stock valued at $15,001,000 after buying an additional 59,912 shares in the last quarter. Fulton Bank N.A. lifted its position in shares of American Tower by 12.8% during the 2nd quarter. Fulton Bank N.A. now owns 4,660 shares of the real estate investment trust's stock valued at $1,030,000 after buying an additional 527 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in American Tower by 5.1% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 290,752 shares of the real estate investment trust's stock worth $64,474,000 after purchasing an additional 14,219 shares in the last quarter. Wedmont Private Capital lifted its holdings in American Tower by 6.7% in the 2nd quarter. Wedmont Private Capital now owns 3,242 shares of the real estate investment trust's stock worth $719,000 after purchasing an additional 204 shares in the last quarter. Finally, Swedbank AB lifted its holdings in American Tower by 2.9% in the 2nd quarter. Swedbank AB now owns 594,899 shares of the real estate investment trust's stock worth $131,485,000 after purchasing an additional 16,937 shares in the last quarter. 92.69% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Hsbc Global Res cut American Tower from a "strong-buy" rating to a "hold" rating in a report on Wednesday, July 30th. Wells Fargo & Company lowered their price target on American Tower from $240.00 to $230.00 and set an "overweight" rating on the stock in a report on Wednesday, July 30th. JPMorgan Chase & Co. boosted their price target on American Tower from $250.00 to $255.00 and gave the stock an "overweight" rating in a report on Wednesday, July 30th. The Goldman Sachs Group reissued a "buy" rating on shares of American Tower in a report on Tuesday, July 29th. Finally, Barclays boosted their price target on American Tower from $246.00 to $250.00 and gave the stock an "overweight" rating in a report on Monday, August 18th. Two analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $244.73.

Insider Transactions at American Tower

In other American Tower news, CEO Juan Font sold 720 shares of American Tower stock in a transaction that occurred on Thursday, July 31st. The stock was sold at an average price of $208.33, for a total value of $149,997.60. Following the sale, the chief executive officer owned 23,425 shares of the company's stock, valued at $4,880,130.25. The trade was a 2.98% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.17% of the stock is currently owned by insiders.

American Tower Price Performance

NYSE:AMT traded up $0.26 during trading hours on Friday, reaching $193.29. The stock had a trading volume of 5,329,524 shares, compared to its average volume of 2,945,268. The company has a debt-to-equity ratio of 3.36, a quick ratio of 0.95 and a current ratio of 0.95. American Tower Corporation has a 52 week low of $172.51 and a 52 week high of $238.34. The company has a 50 day moving average price of $208.18 and a two-hundred day moving average price of $213.00. The stock has a market capitalization of $90.51 billion, a PE ratio of 70.29, a PEG ratio of 1.19 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 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.59 by $0.01. American Tower had a return on equity of 24.85% and a net margin of 12.60%.The business had revenue of $2.63 billion for the quarter, compared to the consensus estimate of $2.58 billion. During the same quarter in the previous year, the company posted $2.79 EPS. The company's revenue was down 9.4% compared to the same quarter last year. American Tower has set its FY 2025 guidance at 10.460-10.650 EPS. As a group, sell-side analysts anticipate that American Tower Corporation will post 10.14 earnings per share for the current fiscal year.

American Tower Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 20th. Shareholders of record on Tuesday, September 30th will be paid a $1.70 dividend. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $6.80 dividend on an annualized basis and a yield of 3.5%. American Tower's payout ratio is presently 247.27%.

American Tower 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.