Generate Investment Management Ltd Takes $16.90 Million Position in American Tower Corporation $AMT

Key Points

• Generate Investment Management Ltd has acquired a new position in American Tower Corporation, investing approximately $16.90 million for 76,471 shares in the 2nd quarter.
• American Tower reported earnings per share of $2.60 for the last quarter, slightly exceeding the consensus estimate, though revenue was down 9.4% year-over-year.
• The company will pay a quarterly dividend of $1.70 per share on October 20th, reflecting an annualized yield of 3.5%.

Generate Investment Management Ltd bought a new stake in shares of American Tower Corporation (NYSE:AMT - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 76,471 shares of the real estate investment trust's stock, valued at approximately $16,902,000.

Other large investors have also bought and sold shares of the company. North Capital Inc. bought a new position in shares of American Tower in the first quarter worth approximately $25,000. Hopwood Financial Services Inc. grew its holdings in American Tower by 100.0% in the 1st quarter. Hopwood Financial Services Inc. now owns 120 shares of the real estate investment trust's stock worth $26,000 after acquiring an additional 60 shares during the last quarter. E Fund Management Hong Kong Co. Ltd. purchased a new position in shares of American Tower in the first quarter valued at about $31,000. City Holding Co. bought a new position in shares of American Tower during the first quarter valued at about $39,000. Finally, Saudi Central Bank bought a new stake in shares of American Tower in the first quarter worth about $40,000. 92.69% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CEO Juan Font sold 720 shares of American Tower stock in a transaction on Thursday, July 31st. The shares were sold at an average price of $208.33, for a total transaction of $149,997.60. Following the transaction, the chief executive officer owned 23,425 shares in the company, valued at $4,880,130.25. This trade represents a 2.98% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.18% of the company's stock.

American Tower Price Performance

Shares of AMT opened at $194.40 on Monday. The firm has a fifty day simple moving average of $205.32 and a two-hundred day simple moving average of $212.47. The firm has a market cap of $91.03 billion, a PE ratio of 70.69, a P/E/G ratio of 1.20 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 $234.47.

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 EPS for the quarter, topping the consensus estimate of $2.59 by $0.01. The company had revenue of $2.63 billion during the quarter, compared to analyst estimates of $2.58 billion. American Tower had a return on equity of 24.85% and a net margin of 12.60%.American Tower's revenue was down 9.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.79 earnings per share. American Tower has set its FY 2025 guidance at 10.460-10.650 EPS. On average, equities analysts anticipate that American Tower Corporation will post 10.14 EPS for the current year.

American Tower Announces Dividend

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

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Hsbc Global Res cut American Tower from a "strong-buy" rating to a "hold" rating in a report on Wednesday, July 30th. HSBC lowered American Tower from a "buy" rating to a "hold" rating and set a $235.00 price target for the company. in a research note on Wednesday, July 30th. Barclays upped their price objective on shares of American Tower from $246.00 to $250.00 and gave the stock an "overweight" rating in a report on Monday, August 18th. Wells Fargo & Company cut their target price on shares of American Tower from $240.00 to $230.00 and set an "overweight" rating on the stock in a research note on Wednesday, July 30th. Finally, BMO Capital Markets reiterated an "outperform" rating and set a $245.00 price target (down previously from $250.00) on shares of American Tower in a research report on Wednesday, July 30th. Two 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. Based on data from MarketBeat.com, the stock has a consensus 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.

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