Financiere des Professionnels Fonds d investissement inc. Has $19.28 Million Holdings in American Tower Corporation $AMT

Key Points

• Financiere des Professionnels Fonds d investissement inc. reduced its holdings in American Tower Corporation by 7.1%, owning 87,220 shares after selling 6,630 shares during the second quarter, making it about 1.2% of their investment portfolio.
• American Tower reported earnings per share of $2.60 for the recent quarter, slightly surpassing analysts' expectations, although revenue decreased by 9.4% year-over-year.
• Analysts have varying views on American Tower's stock, with Barclays raising its target price to $250.00 while HSBC downgraded it to a "hold" status with a target price of $235.00.

Financiere des Professionnels Fonds d investissement inc. reduced its position in shares of American Tower Corporation (NYSE:AMT - Free Report) by 7.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 87,220 shares of the real estate investment trust's stock after selling 6,630 shares during the period. American Tower comprises 1.2% of Financiere des Professionnels Fonds d investissement inc.'s portfolio, making the stock its 18th largest position. Financiere des Professionnels Fonds d investissement inc.'s holdings in American Tower were worth $19,277,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Brighton Jones LLC increased its stake in American Tower by 113.0% during the fourth quarter. Brighton Jones LLC now owns 3,966 shares of the real estate investment trust's stock valued at $727,000 after purchasing an additional 2,104 shares during the last quarter. Tidal Investments LLC grew its position in shares of American Tower by 1.7% during the fourth quarter. Tidal Investments LLC now owns 20,325 shares of the real estate investment trust's stock worth $3,728,000 after acquiring an additional 335 shares during the last quarter. Two Sigma Investments LP grew its position in shares of American Tower by 480.1% during the fourth quarter. Two Sigma Investments LP now owns 92,636 shares of the real estate investment trust's stock worth $16,990,000 after acquiring an additional 76,668 shares during the last quarter. Two Sigma Advisers LP bought a new position in shares of American Tower during the fourth quarter worth about $2,990,000. Finally, Westwood Holdings Group Inc. grew its position in shares of American Tower by 15.4% during the fourth quarter. Westwood Holdings Group Inc. now owns 22,581 shares of the real estate investment trust's stock worth $4,142,000 after acquiring an additional 3,006 shares during the last quarter. 92.69% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other American Tower news, CEO Juan Font sold 720 shares of the company's stock in a transaction that occurred 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 of the company's stock, valued at $4,880,130.25. This represents a 2.98% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.17% of the stock is currently owned by company insiders.

American Tower Price Performance

NYSE AMT traded up $0.26 on Friday, hitting $193.29. 5,329,524 shares of the company were exchanged, compared to its average volume of 2,945,268. The firm has a 50 day moving average of $208.18 and a two-hundred day moving average of $213.00. The company has a market cap of $90.51 billion, a P/E ratio of 70.29, a P/E/G ratio of 1.19 and a beta of 0.86. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 3.36. 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 announced its quarterly earnings data on Tuesday, July 29th. The real estate investment trust reported $2.60 earnings per share for the quarter, topping the consensus estimate of $2.59 by $0.01. The firm had revenue of $2.63 billion during the quarter, compared to analysts' expectations of $2.58 billion. American Tower had a return on equity of 24.85% and a net margin of 12.60%.The company's quarterly revenue was down 9.4% compared to the same quarter last year. During the same period in the previous year, the business posted $2.79 EPS. American Tower has set its FY 2025 guidance at 10.460-10.650 EPS. On average, equities analysts predict that American Tower Corporation will post 10.14 EPS for the current year.

American Tower Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, October 20th. Shareholders of record on Tuesday, September 30th will be given a dividend of $1.70 per share. 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 dividend payout ratio is 247.27%.

Analyst Ratings Changes

A number of equities analysts recently issued reports on AMT shares. BMO Capital Markets reiterated an "outperform" rating and issued a $245.00 target price (down previously from $250.00) on shares of American Tower in a research report on Wednesday, July 30th. JPMorgan Chase & Co. increased their target price on shares of American Tower from $250.00 to $255.00 and gave the company an "overweight" rating in a research report on Wednesday, July 30th. The Goldman Sachs Group restated a "buy" rating on shares of American Tower in a research report on Tuesday, July 29th. Wells Fargo & Company reduced their price objective on shares of American Tower from $240.00 to $230.00 and set an "overweight" rating for the company in a research report on Wednesday, July 30th. Finally, UBS Group raised their price objective on shares of American Tower from $250.00 to $260.00 and gave the company a "buy" rating in a research report on Tuesday, July 8th. 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, the company has a consensus rating of "Moderate Buy" and a consensus target price 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.