Dimensional Fund Advisors LP Grows Stake in American Tower Corporation $AMT

Key Points

• Dimensional Fund Advisors LP increased its holdings in American Tower Corporation by 1.4%, owning over 6.5 million shares valued at approximately $1.42 billion.
• American Tower's recent quarterly earnings reported an EPS of $2.60, slightly beating analyst expectations, while revenues were down 9.4% year-over-year.
• Institutional investors control about 92.69% of American Tower's stock, indicating strong institutional interest in the company.

Dimensional Fund Advisors LP raised its holdings in shares of American Tower Corporation (NYSE:AMT - Free Report) by 1.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,534,862 shares of the real estate investment trust's stock after acquiring an additional 88,120 shares during the quarter. American Tower makes up 0.4% of Dimensional Fund Advisors LP's portfolio, making the stock its 28th largest holding. Dimensional Fund Advisors LP owned 1.40% of American Tower worth $1,421,965,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of AMT. North Capital Inc. bought a new stake in American Tower during the first quarter valued at about $25,000. Hopwood Financial Services Inc. lifted its position 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 buying an additional 60 shares in the last quarter. Minot DeBlois Advisors LLC bought a new position in shares of American Tower during the 4th quarter valued at approximately $29,000. E Fund Management Hong Kong Co. Ltd. purchased a new stake in American Tower in the 1st quarter worth approximately $31,000. Finally, Lowe Wealth Advisors LLC raised its stake in 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 worth $35,000 after acquiring an additional 109 shares during the period. 92.69% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other American Tower news, CEO Juan Font sold 720 shares of American Tower 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 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.17% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

AMT has been the subject of several recent analyst reports. Scotiabank upped their target price on shares of American Tower from $234.00 to $248.00 and gave the stock a "sector outperform" rating in a report on Wednesday, April 30th. BMO Capital Markets restated an "outperform" rating and issued a $245.00 price target (down previously from $250.00) on shares of American Tower in a research report on Wednesday, July 30th. HSBC lowered American Tower from a "buy" rating to a "hold" rating and set a $235.00 price objective for the company. in a research note on Wednesday, July 30th. Bank of America initiated coverage on shares of American Tower in a report on Monday, May 19th. They set a "buy" rating and a $255.00 price target on the stock. Finally, Royal Bank Of Canada increased their target price on American Tower from $250.00 to $260.00 and gave the stock an "outperform" rating in a research note on Thursday, July 31st. Two investment analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $244.73.

American Tower Stock Up 1.3%

Shares of NYSE AMT traded up $2.5840 during midday trading on Wednesday, reaching $209.2340. 2,217,515 shares of the company's stock traded hands, compared to its average volume of 2,376,061. The company has a market cap of $97.97 billion, a price-to-earnings ratio of 76.09, a P/E/G ratio of 1.18 and a beta of 0.82. The stock's 50 day simple moving average is $216.98 and its 200-day simple moving average is $212.11. 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 one year low of $172.51 and a one year high of $243.56.

American Tower (NYSE:AMT - Get Free Report) last announced its earnings results on Tuesday, July 29th. The real estate investment trust reported $2.60 earnings per share (EPS) 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 business had revenue of $2.63 billion for the quarter, compared to analysts' expectations of $2.58 billion. During the same quarter last year, the firm earned $2.79 EPS. The business's revenue for the quarter 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, analysts predict that American Tower Corporation will post 10.14 EPS for the current fiscal year.

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.