ASR Vermogensbeheer N.V. Has $43.31 Million Stock Position in American Tower Corporation $AMT

Key Points

• ASR Vermogensbeheer N.V. has increased its stake in American Tower Corporation by 6.7% during the second quarter, bringing its total holdings to approximately $43.31 million.
• American Tower recently announced a quarterly dividend of $1.70 per share, resulting in an annualized dividend yield of 3.5%.
• Analysts have set a new average price target for American Tower at $242.07, with the stock currently holding a "Moderate Buy" rating.

ASR Vermogensbeheer N.V. increased its holdings in shares of American Tower Corporation (NYSE:AMT - Free Report) by 6.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 195,954 shares of the real estate investment trust's stock after acquiring an additional 12,243 shares during the quarter. ASR Vermogensbeheer N.V.'s holdings in American Tower were worth $43,307,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Focus Financial Network Inc. boosted its stake in American Tower by 9.1% in the 2nd quarter. Focus Financial Network Inc. now owns 2,042 shares of the real estate investment trust's stock valued at $451,000 after purchasing an additional 170 shares during the period. Resolution Capital Ltd bought a new stake in American Tower in the 1st quarter valued at $72,706,000. Golden State Wealth Management LLC boosted its stake in American Tower by 23.0% in the 1st quarter. Golden State Wealth Management LLC now owns 369 shares of the real estate investment trust's stock valued at $80,000 after purchasing an additional 69 shares during the period. Shum Financial Group Inc. boosted its stake in American Tower by 3.5% in the 1st quarter. Shum Financial Group Inc. now owns 4,196 shares of the real estate investment trust's stock valued at $913,000 after purchasing an additional 141 shares during the period. Finally, Kovitz Investment Group Partners LLC boosted its stake in American Tower by 126.0% in the 1st quarter. Kovitz Investment Group Partners LLC now owns 97,495 shares of the real estate investment trust's stock valued at $21,215,000 after purchasing an additional 54,360 shares during the period. 92.69% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. JPMorgan Chase & Co. upped their target price on American Tower from $250.00 to $255.00 and gave the company an "overweight" rating in a research report on Wednesday, July 30th. BMO Capital Markets reiterated an "outperform" rating and set a $245.00 target price (down from $250.00) on shares of American Tower in a research report on Wednesday, July 30th. UBS Group upped their price objective on American Tower from $250.00 to $260.00 and gave the stock a "buy" rating in a research report on Tuesday, July 8th. Barclays increased their price target on American Tower from $246.00 to $250.00 and gave the company an "overweight" rating in a research note on Monday, August 18th. Finally, Hsbc Global Res lowered American Tower from a "strong-buy" rating to a "hold" rating in a research report 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 issued a Hold rating to the company's stock. According to MarketBeat, American Tower currently has an average rating of "Moderate Buy" and an average price target of $242.07.

American Tower Stock Performance

NYSE:AMT opened at $193.22 on Thursday. The company has a market capitalization of $90.47 billion, a P/E ratio of 70.26, a P/E/G ratio of 1.19 and a beta of 0.86. American Tower Corporation has a 1 year low of $172.51 and a 1 year high of $234.33. 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 business has a fifty day simple moving average of $203.12 and a two-hundred day simple moving average of $212.08.

American Tower (NYSE:AMT - Get Free Report) last announced its quarterly earnings results on Tuesday, July 29th. The real estate investment trust reported $2.60 earnings per share for the quarter, beating the consensus estimate 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 period in the previous year, the business earned $2.79 earnings per share. The firm's quarterly 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. On average, analysts expect that American Tower Corporation will post 10.14 earnings per share for the current year.

American Tower Announces Dividend

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

Insider Buying and Selling at American Tower

In other news, CEO Juan Font sold 720 shares of the business's stock in a transaction dated Thursday, July 31st. The stock was 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 of the company's stock, valued at approximately $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 accessible through this link. Company insiders own 0.17% of the company's stock.

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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