Nykredit A S Acquires Shares of 147,499 American Tower Corporation $AMT

Key Points

• Nykredit A/S acquired 147,499 shares of American Tower in the second quarter, valued at approximately $24.1 million. Institutional investors collectively own 92.69% of the company.
• American Tower reported quarterly earnings of $2.71 per share, exceeding estimates of $1.57, while revenue rose 4.6% year over year to $2.75 billion.
• The company declared a quarterly dividend of $1.79 per share, equivalent to a 4.1% annualized yield. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $215.29.

Nykredit A S bought a new stake in American Tower Corporation (NYSE:AMT - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 147,499 shares of the real estate investment trust's stock, valued at approximately $24,126,000.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Second Line Capital LLC increased its position in shares of American Tower by 16.1% during the second quarter. Second Line Capital LLC now owns 18,630 shares of the real estate investment trust's stock worth $3,077,000 after purchasing an additional 2,580 shares in the last quarter. Amundi grew its holdings in shares of American Tower by 5.6% during the second quarter. Amundi now owns 4,045,753 shares of the real estate investment trust's stock worth $661,757,000 after buying an additional 215,220 shares in the last quarter. Groupe la Francaise grew its holdings in shares of American Tower by 319.0% during the second quarter. Groupe la Francaise now owns 33,505 shares of the real estate investment trust's stock worth $5,481,000 after buying an additional 25,508 shares in the last quarter. CYBER HORNET ETFs LLC raised its position in shares of American Tower by 81.5% in the second quarter. CYBER HORNET ETFs LLC now owns 2,334 shares of the real estate investment trust's stock valued at $360,000 after buying an additional 1,048 shares during the last quarter. Finally, Kintra Wealth LLC purchased a new position in shares of American Tower in the second quarter worth about $635,000. Hedge funds and other institutional investors own 92.69% of the company's stock.

American Tower Stock Performance

NYSE AMT opened at $174.00 on Friday. The stock has a fifty day simple moving average of $173.01 and a 200-day simple moving average of $176.76. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 3.12. The stock has a market cap of $81.07 billion, a PE ratio of 23.93, a P/E/G ratio of 2.79 and a beta of 0.89. American Tower Corporation has a twelve month low of $160.06 and a twelve month high of $197.40.

American Tower (NYSE:AMT - Get Free Report) last posted its earnings results on Tuesday, July 28th. The real estate investment trust reported $2.71 EPS for the quarter, beating analysts' consensus estimates of $1.57 by $1.14. The company had revenue of $2.75 billion for the quarter, compared to analysts' expectations of $2.70 billion. American Tower had a net margin of 31.08% and a return on equity of 32.76%. American Tower's revenue for the quarter was up 4.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.60 earnings per share. American Tower has set its FY 2026 guidance at 11.000-11.170 EPS. Equities analysts anticipate that American Tower Corporation will post 10.8 earnings per share for the current year.

American Tower Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 20th. Stockholders of record on Wednesday, September 30th will be issued a $1.79 dividend. This represents a $7.16 annualized dividend and a dividend yield of 4.1%. The ex-dividend date is Wednesday, September 30th. American Tower's dividend payout ratio is currently 98.49%.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Scotiabank reaffirmed an "outperform" rating on shares of American Tower in a research note on Wednesday, July 29th. Weiss Ratings raised shares of American Tower from a "hold (c-)" rating to a "hold (c)" rating in a research note on Tuesday, July 14th. Royal Bank Of Canada upgraded American Tower from a "sector perform" rating to an "outperform" rating and boosted their target price for the stock from $195.00 to $205.00 in a report on Friday, June 26th. Sanford C. Bernstein restated an "outperform" rating and issued a $214.00 price target on shares of American Tower in a research report on Wednesday, July 29th. Finally, Jefferies Financial Group cut their price target on American Tower from $210.00 to $201.00 and set a "buy" rating for the company in a report on Wednesday, July 15th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $215.29.

Insider Transactions at American Tower

In other news, Director Rajesh Kalathur bought 2,829 shares of the business's stock in a transaction on Friday, August 21st. The shares were bought at an average price of $177.00 per share, with a total value of $500,733.00. Following the completion of the transaction, the director directly owned 7,765 shares in the company, valued at $1,374,405. This trade represents a 57.31% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Ruth T. Dowling sold 1,106 shares of the company's stock in a transaction on Wednesday, July 29th. The stock was sold at an average price of $174.96, for a total value of $193,505.76. Following the transaction, the executive vice president owned 27,711 shares in the company, valued at $4,848,316.56. This trade represents a 3.84% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 6,791 shares of company stock worth $1,204,091. 0.08% of the stock is currently owned by insiders.

American Tower Profile

American Tower Corporation NYSE: AMT is a global owner, operator and developer of wireless communications infrastructure. The company leases space on communications sites, including towers, rooftops and other structures, to wireless carriers, broadcasters, government agencies and other customers. Its infrastructure supports wireless networks and the transmission of voice, data and video services.

In addition to traditional macro towers, American Tower provides distributed antenna systems and other in-building or venue-based communications solutions designed to improve wireless coverage and capacity.

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