Ethic Inc. Boosts Holdings in American Tower Corporation $AMT

Key Points

• Ethic Inc. increased its stake in American Tower Corporation by 15.4%, acquiring an additional 6,986 shares during the second quarter, bringing their total holdings to $11.4 million.
• American Tower recently issued a quarterly dividend of $1.70 per share, reflecting a 3.5% yield and a payout ratio of 247.27%.
• The company reported earnings of $2.60 per share for the quarter, surpassing estimates, but experienced a 9.4% decline in revenue compared to the same period last year.

Ethic Inc. increased its stake in shares of American Tower Corporation (NYSE:AMT - Free Report) by 15.4% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 52,343 shares of the real estate investment trust's stock after acquiring an additional 6,986 shares during the quarter. Ethic Inc.'s holdings in American Tower were worth $11,399,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of American Tower by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 62,809,486 shares of the real estate investment trust's stock worth $13,667,344,000 after buying an additional 434,118 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in American Tower by 39.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 8,144,040 shares of the real estate investment trust's stock worth $1,772,144,000 after acquiring an additional 2,309,627 shares during the last quarter. Deutsche Bank AG raised its position in American Tower by 4.0% during the first quarter. Deutsche Bank AG now owns 7,383,368 shares of the real estate investment trust's stock valued at $1,606,621,000 after purchasing an additional 285,195 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of American Tower by 1.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 6,534,862 shares of the real estate investment trust's stock worth $1,421,965,000 after purchasing an additional 88,120 shares during the period. Finally, Principal Financial Group Inc. raised its stake in shares of American Tower by 3.7% in the first quarter. Principal Financial Group Inc. now owns 6,136,981 shares of the real estate investment trust's stock valued at $1,335,407,000 after acquiring an additional 220,565 shares during the period. Hedge funds and other institutional investors own 92.69% of the company's stock.

Insider Buying and Selling at American Tower

In related news, CEO Juan Font sold 720 shares of the 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 represents a 2.98% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.18% of the stock is owned by insiders.

American Tower Price Performance

Shares of AMT opened at $192.19 on Wednesday. The company has a debt-to-equity ratio of 3.36, a quick ratio of 0.95 and a current ratio of 0.95. The company has a 50 day moving average price of $196.13 and a 200-day moving average price of $209.39. American Tower Corporation has a fifty-two week low of $172.51 and a fifty-two week high of $234.33. The stock has a market capitalization of $89.99 billion, a PE ratio of 69.85, a PEG ratio of 1.17 and a beta of 0.86.

American Tower (NYSE:AMT - Get Free Report) last issued its quarterly earnings data 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. The company had revenue of $2.63 billion for the quarter, compared to analyst estimates of $2.58 billion. American Tower had a net margin of 12.60% and a return on equity of 24.85%. American Tower's revenue was down 9.4% compared to the same quarter last year. During the same period last year, the company posted $2.79 earnings per share. American Tower has set its FY 2025 guidance at 10.460-10.650 EPS. Equities analysts predict that American Tower Corporation will post 10.14 earnings per share for the current fiscal year.

American Tower Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, October 20th. Shareholders of record on Tuesday, September 30th were paid a $1.70 dividend. This represents a $6.80 annualized dividend and a yield of 3.5%. The ex-dividend date was Tuesday, September 30th. American Tower's dividend payout ratio (DPR) is 247.27%.

Analysts Set New Price Targets

Several brokerages have issued reports on AMT. Royal Bank Of Canada set a $220.00 price objective on shares of American Tower and gave the stock a "sector perform" rating in a research note on Wednesday, October 1st. Hsbc Global Res downgraded American Tower from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, July 30th. Morgan Stanley lowered their target price on shares of American Tower from $270.00 to $235.00 and set an "overweight" rating for the company in a research note on Thursday, October 16th. UBS Group raised their price target on shares of American Tower from $250.00 to $260.00 and gave the stock a "buy" rating in a research note on Tuesday, July 8th. Finally, Weiss Ratings reissued a "hold (c-)" rating on shares of American Tower in a research report on Wednesday, October 8th. Two research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, American Tower presently has an average rating of "Moderate Buy" and a consensus target price of $236.75.

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.

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