Vanguard Personalized Indexing Management LLC Raises Position in American Tower Corporation $AMT

Key Points

• Vanguard Personalized Indexing Management LLC increased its stake in American Tower Corporation by 29.3%, now owning 63,924 shares valued at approximately $14.14 million.
• Following recent transactions, CEO Juan Font sold 720 shares at an average price of $208.33, reducing his ownership stake by 2.98%.
• Several brokerages set new price targets for American Tower, with Wells Fargo lowering theirs to $230 while Barclays increased it to $250.

Vanguard Personalized Indexing Management LLC raised its stake in shares of American Tower Corporation (NYSE:AMT - Free Report) by 29.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 63,924 shares of the real estate investment trust's stock after purchasing an additional 14,475 shares during the period. Vanguard Personalized Indexing Management LLC's holdings in American Tower were worth $14,136,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in AMT. Brighton Jones LLC raised its position in American Tower by 113.0% during the fourth quarter. Brighton Jones LLC now owns 3,966 shares of the real estate investment trust's stock valued at $727,000 after purchasing an additional 2,104 shares during the period. Farther Finance Advisors LLC raised its position in American Tower by 43.2% during the first quarter. Farther Finance Advisors LLC now owns 3,233 shares of the real estate investment trust's stock valued at $710,000 after purchasing an additional 975 shares during the period. Wealthcare Advisory Partners LLC raised its position in American Tower by 5.1% during the first quarter. Wealthcare Advisory Partners LLC now owns 2,932 shares of the real estate investment trust's stock valued at $638,000 after purchasing an additional 143 shares during the period. GAMMA Investing LLC raised its position in American Tower by 9.0% during the first quarter. GAMMA Investing LLC now owns 7,821 shares of the real estate investment trust's stock valued at $1,702,000 after purchasing an additional 648 shares during the period. Finally, Assenagon Asset Management S.A. raised its holdings in shares of American Tower by 1.9% in the first quarter. Assenagon Asset Management S.A. now owns 17,433 shares of the real estate investment trust's stock worth $3,793,000 after buying an additional 326 shares during the period. 92.69% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at American Tower

In related news, CEO Juan Font sold 720 shares of the stock in a transaction that occurred on Thursday, July 31st. The stock was 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 of the company's stock, valued at $4,880,130.25. This represents a 2.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.17% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several brokerages have recently weighed in on AMT. Wells Fargo & Company reduced their price target on American Tower from $240.00 to $230.00 and set an "overweight" rating on the stock in a report on Wednesday, July 30th. Wall Street Zen upgraded American Tower from a "sell" rating to a "hold" rating in a report on Sunday. BMO Capital Markets reiterated an "outperform" rating and issued a $245.00 price target (down from $250.00) on shares of American Tower in a report on Wednesday, July 30th. Barclays increased their price target on American Tower from $246.00 to $250.00 and gave the stock an "overweight" rating in a report on Monday, August 18th. Finally, Weiss Ratings reiterated a "hold (c-)" rating on shares of American Tower in a report on Wednesday. Two research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, American Tower presently has an average rating of "Moderate Buy" and a consensus price target of $242.07.

American Tower Stock Up 0.7%

Shares of NYSE:AMT opened at $186.60 on Friday. American Tower Corporation has a 52-week low of $172.51 and a 52-week high of $234.33. The stock has a market cap of $87.38 billion, a P/E ratio of 67.85, a price-to-earnings-growth ratio of 1.13 and a beta of 0.86. The business's 50 day moving average is $198.75 and its 200 day moving average is $210.82. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 3.36.

American Tower (NYSE:AMT - Get Free Report) last announced its quarterly earnings data 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 return on equity of 24.85% and a net margin of 12.60%.The company had revenue of $2.63 billion for the quarter, compared to analysts' expectations of $2.58 billion. During the same quarter in the prior year, the firm earned $2.79 earnings per share. American Tower's 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. Sell-side analysts predict that American Tower Corporation will post 10.14 EPS for the current year.

American Tower Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 20th. Investors of record on Tuesday, September 30th will be paid a $1.70 dividend. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $6.80 annualized dividend and a yield of 3.6%. American Tower's dividend payout ratio is 247.27%.

About American Tower

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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