Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of American Tower Corporation (NYSE:AMT - Free Report) by 15.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 88,921 shares of the real estate investment trust's stock after buying an additional 11,868 shares during the quarter. Mirae Asset Global Investments Co. Ltd.'s holdings in American Tower were worth $19,653,000 at the end of the most recent quarter.
Other hedge funds have also bought and sold shares of the company. North Capital Inc. purchased a new stake in American Tower during the 1st quarter worth about $25,000. Hopwood Financial Services Inc. increased its position in shares of American Tower by 100.0% during the first 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 during the period. E Fund Management Hong Kong Co. Ltd. purchased a new stake in shares of American Tower in the first quarter worth about $31,000. City Holding Co. purchased a new position in American Tower during the first quarter valued at approximately $39,000. Finally, Saudi Central Bank purchased a new position in American Tower during the first quarter valued at approximately $40,000. 92.69% of the stock is currently owned by hedge funds and other institutional investors.
Insider Buying and Selling
In other American Tower news, CEO Juan Font sold 720 shares of the business's 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 completion of the sale, the chief executive officer directly owned 23,425 shares of the company's stock, 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 SEC, which is available at the SEC website. 0.17% of the stock is currently owned by insiders.
American Tower Price Performance
AMT opened at $190.10 on Friday. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 3.36. The stock has a market capitalization of $89.01 billion, a P/E ratio of 69.13, a PEG ratio of 1.18 and a beta of 0.86. The stock has a 50-day moving average price of $201.53 and a 200-day moving average price of $211.76. American Tower Corporation has a 12-month low of $172.51 and a 12-month high of $234.33.
American Tower (NYSE:AMT - Get Free Report) last released its earnings results on Tuesday, July 29th. The real estate investment trust reported $2.60 earnings per share for the quarter, topping analysts' consensus estimates of $2.59 by $0.01. American Tower had a return on equity of 24.85% and a net margin of 12.60%.The company had revenue of $2.63 billion during the quarter, compared to the consensus estimate of $2.58 billion. During the same quarter in the previous year, the company posted $2.79 EPS. American Tower's quarterly revenue was down 9.4% compared to the same quarter last year. 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 Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 20th. Investors of record on Tuesday, September 30th will be issued a dividend of $1.70 per share. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $6.80 annualized dividend and a dividend yield of 3.6%. American Tower's dividend payout ratio (DPR) is currently 247.27%.
Wall Street Analysts Forecast Growth
AMT has been the subject of several analyst reports. JPMorgan Chase & Co. raised their price target on shares of American Tower from $250.00 to $255.00 and gave the company an "overweight" rating in a report on Wednesday, July 30th. Raymond James Financial set a $250.00 price objective on American Tower and gave the company a "strong-buy" rating in a research note 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 research report on Tuesday, July 8th. Hsbc Global Res cut American Tower from a "strong-buy" rating to a "hold" rating in a report on Wednesday, July 30th. Finally, Wall Street Zen downgraded American Tower from a "hold" rating to a "sell" rating in a research report on Saturday. Two analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, American Tower has a consensus rating of "Moderate Buy" and an average target price of $242.07.
Check Out Our Latest Research Report on AMT
American Tower Company Profile
(
Free Report)
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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