Ninety One UK Ltd Raises Stake in American Tower Corporation $AMT

Key Points

• Ninety One UK Ltd increased its stake in American Tower Corporation by 49.6% during the second quarter, bringing its total holdings to approximately $37.3 million.
• Institutional investors own over 92% of American Tower's stock, with significant stake increases from firms like Vanguard and Price T Rowe Associates.
• American Tower recently announced a quarterly dividend of $1.70 per share, representing an annualized total of $6.80 and a yield of 3.5%.

Ninety One UK Ltd boosted its position in American Tower Corporation (NYSE:AMT - Free Report) by 49.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 168,708 shares of the real estate investment trust's stock after buying an additional 55,960 shares during the quarter. Ninety One UK Ltd's holdings in American Tower were worth $37,288,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in American Tower by 0.7% during the first quarter. Vanguard Group Inc. now owns 62,809,486 shares of the real estate investment trust's stock valued at $13,667,344,000 after buying an additional 434,118 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in American Tower by 39.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,144,040 shares of the real estate investment trust's stock valued at $1,772,144,000 after acquiring an additional 2,309,627 shares during the period. Deutsche Bank AG boosted its holdings in American Tower by 4.0% during the 1st 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 acquiring an additional 285,195 shares during the period. Dimensional Fund Advisors LP boosted its holdings in American Tower by 1.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 6,534,862 shares of the real estate investment trust's stock valued at $1,421,965,000 after acquiring an additional 88,120 shares during the period. Finally, Principal Financial Group Inc. boosted its holdings 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 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 Activity at American Tower

In other 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 transaction of $149,997.60. Following the sale, the chief executive officer owned 23,425 shares in the company, valued at approximately $4,880,130.25. The trade was a 2.98% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.18% of the company's stock.

Analysts Set New Price Targets

AMT has been the subject of a number of analyst reports. 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. Hsbc Global Res cut shares of American Tower from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, July 30th. HSBC lowered shares of American Tower from a "buy" rating to a "hold" rating and set a $235.00 target price for the company. in a report on Wednesday, July 30th. Royal Bank Of Canada increased their target price on shares of American Tower from $250.00 to $260.00 and gave the stock an "outperform" rating in a report on Thursday, July 31st. Finally, JPMorgan Chase & Co. increased their price objective on American Tower from $250.00 to $255.00 and gave the stock an "overweight" rating in a report on Wednesday, July 30th. Two research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, American Tower currently has a consensus rating of "Moderate Buy" and an average target price of $244.73.

American Tower Stock Performance

Shares of AMT opened at $191.76 on Wednesday. The company has a debt-to-equity ratio of 3.36, a current ratio of 0.95 and a quick ratio of 0.95. American Tower Corporation has a one year low of $172.51 and a one year high of $234.47. The company has a 50-day simple moving average of $203.87 and a two-hundred day simple moving average of $212.22. The firm has a market capitalization of $89.79 billion, a PE ratio of 69.73, a price-to-earnings-growth ratio of 1.20 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 EPS for the quarter, topping the consensus estimate of $2.59 by $0.01. The business had revenue of $2.63 billion during 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 quarterly revenue was down 9.4% compared to the same quarter last year. During the same period last year, the business posted $2.79 earnings per share. American Tower has set its FY 2025 guidance at 10.460-10.650 EPS. On average, analysts anticipate that American Tower Corporation will post 10.14 EPS for the current fiscal year.

American Tower Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 20th. Stockholders 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 dividend yield of 3.5%. The ex-dividend date is Tuesday, September 30th. American Tower's payout ratio 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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