Nordea Investment Management AB Acquires 15,920 Shares of American Tower Corporation $AMT

Key Points

• Nordea Investment Management AB has increased its holdings in American Tower Corporation by 1.0%, acquiring an additional 15,920 shares, bringing its total ownership to approximately $334.4 million.
• The company has recently declared a quarterly dividend of $1.70 per share, contributing to an annualized dividend yield of 3.6%.
• A variety of analysts have varying ratings on AMT, with Goldman Sachs maintaining a "buy" rating, while HSBC downgraded the stock to "hold," and Raymond James set a target price of $250.00.

Nordea Investment Management AB boosted its holdings in American Tower Corporation (NYSE:AMT - Free Report) by 1.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,532,818 shares of the real estate investment trust's stock after purchasing an additional 15,920 shares during the period. Nordea Investment Management AB owned about 0.33% of American Tower worth $334,430,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Focus Financial Network Inc. grew its position in American Tower by 9.1% in the second quarter. Focus Financial Network Inc. now owns 2,042 shares of the real estate investment trust's stock valued at $451,000 after purchasing an additional 170 shares in the last quarter. Resolution Capital Ltd bought a new position in shares of American Tower in the 1st quarter valued at about $72,706,000. Stack Financial Management Inc bought a new position in shares of American Tower in the 2nd quarter valued at about $13,020,000. Golden State Wealth Management LLC grew its position in shares of American Tower by 23.0% in the 1st quarter. Golden State Wealth Management LLC now owns 369 shares of the real estate investment trust's stock valued at $80,000 after acquiring an additional 69 shares during the period. Finally, Shum Financial Group Inc. grew its position in shares of American Tower by 3.5% in the 1st quarter. Shum Financial Group Inc. now owns 4,196 shares of the real estate investment trust's stock valued at $913,000 after acquiring an additional 141 shares during the period. Institutional investors own 92.69% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on AMT. The Goldman Sachs Group reissued a "buy" rating on shares of American Tower in a research report on Tuesday, July 29th. HSBC cut shares of American Tower from a "buy" rating to a "hold" rating and set a $235.00 target price for the company. in a research note on Wednesday, July 30th. Raymond James Financial set a $250.00 target price on shares of American Tower and gave the stock a "strong-buy" rating in a report on Wednesday, July 30th. JPMorgan Chase & Co. lifted their target price on shares of American Tower from $250.00 to $255.00 and gave the stock an "overweight" rating in a report on Wednesday, July 30th. Finally, Weiss Ratings reaffirmed a "hold (c-)" rating on shares of American Tower in a report on Wednesday, October 8th. Two analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $239.50.

Insider Buying and Selling at American Tower

In other news, CEO Juan Font sold 720 shares of the company's stock in a transaction that occurred 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 completion of the sale, the chief executive officer owned 23,425 shares of the company's stock, valued at approximately $4,880,130.25. This represents a 2.98% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.17% of the company's stock.

American Tower Stock Performance

NYSE AMT opened at $191.44 on Friday. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 3.36. The company has a market capitalization of $89.64 billion, a P/E ratio of 69.61, a P/E/G ratio of 1.15 and a beta of 0.86. American Tower Corporation has a 12-month low of $172.51 and a 12-month high of $234.33. The firm has a 50-day moving average price of $196.93 and a two-hundred day moving average price of $210.08.

American Tower (NYSE:AMT - Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The real estate investment trust reported $2.60 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.59 by $0.01. The firm had revenue of $2.63 billion during the quarter, compared to the consensus estimate of $2.58 billion. American Tower had a net margin of 12.60% and a return on equity of 24.85%. The business's revenue for the quarter was down 9.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.79 EPS. American Tower has set its FY 2025 guidance at 10.460-10.650 EPS. Analysts anticipate that American Tower Corporation will post 10.14 earnings per share for the current year.

American Tower Dividend Announcement

The company also recently declared 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 3.6%. The ex-dividend date of this dividend is Tuesday, September 30th. American Tower's dividend 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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