Lbp Am Sa Raises Position in American Tower Corporation $AMT

Key Points

• Lbp Am Sa significantly increased its holdings in American Tower Corporation by 693.8% during the 2nd quarter, acquiring an additional 61,523 shares, bringing its total to 70,391 shares valued at around $15.56 million.
• Analysts have mixed evaluations of American Tower, with HSBC downgrading their rating from "buy" to "hold," while Raymond James gave it a "strong-buy" rating with a price target of $250.
• American Tower declared a quarterly dividend of $1.70 per share, which equates to an annual yield of 3.5%, with a high dividend payout ratio of 247.27%.

Lbp Am Sa lifted its holdings in American Tower Corporation (NYSE:AMT - Free Report) by 693.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 70,391 shares of the real estate investment trust's stock after buying an additional 61,523 shares during the quarter. Lbp Am Sa's holdings in American Tower were worth $15,558,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in American Tower by 0.7% in the first quarter. Vanguard Group Inc. now owns 62,809,486 shares of the real estate investment trust's stock worth $13,667,344,000 after purchasing an additional 434,118 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of American Tower by 39.6% in the 1st 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 purchasing an additional 2,309,627 shares in the last quarter. Deutsche Bank AG boosted its position in shares of American Tower by 4.0% in the 1st quarter. Deutsche Bank AG now owns 7,383,368 shares of the real estate investment trust's stock worth $1,606,621,000 after purchasing an additional 285,195 shares in the last quarter. Dimensional Fund Advisors LP boosted its position 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 in the last quarter. Finally, Principal Financial Group Inc. lifted its position in American Tower by 3.7% during the 1st quarter. Principal Financial Group Inc. now owns 6,136,981 shares of the real estate investment trust's stock worth $1,335,407,000 after acquiring an additional 220,565 shares during the period. Institutional investors own 92.69% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. 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. Raymond James Financial set a $250.00 price objective on American Tower and gave the stock a "strong-buy" rating in a report on Wednesday, July 30th. Hsbc Global Res cut American Tower from a "strong-buy" rating to a "hold" rating in a report on Wednesday, July 30th. UBS Group boosted their target price on American Tower from $250.00 to $260.00 and gave the stock a "buy" rating in a report on Tuesday, July 8th. Finally, Wells Fargo & Company decreased their price objective on American Tower from $240.00 to $230.00 and set an "overweight" rating on the stock in a report on Wednesday, July 30th. Two analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $244.73.

Insider Transactions at American Tower

In other American Tower 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 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. This trade represents a 2.98% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.18% of the company's stock.

American Tower Price Performance

Shares of AMT opened at $191.76 on Wednesday. The company has a market capitalization of $89.79 billion, a price-to-earnings ratio of 69.73, a price-to-earnings-growth ratio of 1.20 and a beta of 0.86. American Tower Corporation has a fifty-two week low of $172.51 and a fifty-two week high of $234.47. The firm has a 50-day simple moving average of $203.87 and a 200-day simple moving average of $212.22. The company has a debt-to-equity ratio of 3.36, a quick ratio of 0.95 and a current ratio of 0.95.

American Tower (NYSE:AMT - Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. The real estate investment trust reported $2.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.59 by $0.01. American Tower had a net margin of 12.60% and a return on equity of 24.85%. The firm had revenue of $2.63 billion during the quarter, compared to analysts' expectations of $2.58 billion. During the same period in the prior year, the company posted $2.79 earnings per share. The firm'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, equities research analysts anticipate that American Tower Corporation will post 10.14 earnings per share for the current year.

American Tower Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, October 20th. Investors of record on Tuesday, September 30th will be given a dividend of $1.70 per share. The ex-dividend date 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 (DPR) is 247.27%.

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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