Swedbank AB Purchases 16,937 Shares of American Tower Corporation $AMT

Key Points

• Swedbank AB increased its holdings in American Tower Corporation ($AMT) by 2.9%, owning 594,899 shares worth approximately $131.5 million at the end of the recent quarter.
• American Tower's most recent earnings report showed $2.63 billion in revenue and earnings per share (EPS) of $2.60, outperforming estimates.
• The company declared a quarterly dividend of $1.70 per share, with a dividend yield of 3.5% and a payout ratio over 247%.

Swedbank AB raised its position in shares of American Tower Corporation (NYSE:AMT - Free Report) by 2.9% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 594,899 shares of the real estate investment trust's stock after purchasing an additional 16,937 shares during the quarter. Swedbank AB owned 0.13% of American Tower worth $131,485,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in AMT. North Capital Inc. bought a new stake in shares of American Tower during the 1st quarter valued at about $25,000. Hopwood Financial Services Inc. grew its stake in shares of American Tower by 100.0% during the 1st quarter. Hopwood Financial Services Inc. now owns 120 shares of the real estate investment trust's stock valued at $26,000 after purchasing an additional 60 shares during the period. E Fund Management Hong Kong Co. Ltd. bought a new stake in shares of American Tower during the 1st quarter valued at about $31,000. Lowe Wealth Advisors LLC grew its stake in shares of American Tower by 218.0% during the 1st quarter. Lowe Wealth Advisors LLC now owns 159 shares of the real estate investment trust's stock valued at $35,000 after purchasing an additional 109 shares during the period. Finally, City Holding Co. bought a new stake in shares of American Tower during the 1st quarter valued at about $39,000. 92.69% of the stock is currently owned by institutional investors.

Insider Transactions at American Tower

In related news, CEO Juan Font sold 720 shares of the business's stock in a transaction on Thursday, July 31st. The stock was sold at an average price of $208.33, for a total transaction of $149,997.60. Following the completion of the transaction, the chief executive officer owned 23,425 shares in the company, 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 Securities & Exchange Commission, which is available through this hyperlink. 0.17% of the stock is currently owned by insiders.

American Tower Trading Up 0.1%

Shares of American Tower stock traded up $0.26 on Friday, reaching $193.29. The company had a trading volume of 5,329,524 shares, compared to its average volume of 2,945,268. The firm has a market cap of $90.51 billion, a price-to-earnings ratio of 70.29, a P/E/G ratio of 1.19 and a beta of 0.86. 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 firm's 50-day moving average price is $208.18 and its two-hundred day moving average price is $213.00. American Tower Corporation has a 1 year low of $172.51 and a 1 year high of $238.34.

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 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 company had revenue of $2.63 billion during the quarter, compared to analysts' expectations of $2.58 billion. During the same quarter in the previous year, the business earned $2.79 EPS. American Tower'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, research analysts predict that American Tower Corporation will post 10.14 earnings per share for the current fiscal year.

American Tower Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 20th. Investors of record on Tuesday, September 30th will be issued a dividend of $1.70 per share. The ex-dividend date 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%.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. JPMorgan Chase & Co. lifted their price objective on American Tower from $250.00 to $255.00 and gave the company an "overweight" rating in a research report on Wednesday, July 30th. UBS Group boosted their price objective on American Tower from $250.00 to $260.00 and gave the company a "buy" rating in a research note on Tuesday, July 8th. Royal Bank Of Canada boosted their price objective on American Tower from $250.00 to $260.00 and gave the company an "outperform" rating in a research note on Thursday, July 31st. The Goldman Sachs Group reiterated a "buy" rating on shares of American Tower in a research note on Tuesday, July 29th. Finally, Barclays boosted their price objective on American Tower from $246.00 to $250.00 and gave the company an "overweight" rating in a research note on Monday, August 18th. Two analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, American Tower has an average rating of "Moderate Buy" and a consensus price target of $244.73.

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.