IFM Investors Pty Ltd Grows Holdings in American Tower Corporation $AMT

IFM Investors Pty Ltd grew its holdings in shares of American Tower Corporation (NYSE:AMT) by 4.5% in the 2nd quarter, Holdings Channel reports. The fund owned 115,679 shares of the real estate investment trust’s stock after acquiring an additional 4,932 shares during the period. IFM Investors Pty Ltd’s holdings in American Tower were worth $25,567,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of AMT. North Capital Inc. acquired a new stake in shares of American Tower during the first quarter worth approximately $25,000. Hopwood Financial Services Inc. raised its stake in 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 in the last quarter. E Fund Management Hong Kong Co. Ltd. acquired a new position in shares of American Tower in the 1st quarter worth approximately $31,000. Lowe Wealth Advisors LLC increased its holdings in shares of American Tower by 218.0% in the 1st quarter. Lowe Wealth Advisors LLC now owns 159 shares of the real estate investment trust’s stock valued at $35,000 after acquiring an additional 109 shares during the last quarter. Finally, City Holding Co. bought a new position in American Tower during the first quarter worth $39,000. Institutional investors and hedge funds own 92.69% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on AMT. The Goldman Sachs Group reaffirmed a “buy” rating on shares of American Tower in a report on Tuesday, July 29th. Raymond James Financial set a $250.00 price objective on American Tower and gave the stock a “strong-buy” rating in a research note on Wednesday, July 30th. Barclays raised their target price on American Tower from $246.00 to $250.00 and gave the company an “overweight” rating in a research note on Monday, August 18th. HSBC lowered shares of American Tower from a “buy” rating to a “hold” rating and set a $235.00 price target for the company. in a research report on Wednesday, July 30th. Finally, 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. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, American Tower currently has an average rating of “Moderate Buy” and an average target price of $244.73.

Insider Activity

In other news, CEO Juan Font sold 720 shares of the firm’s stock in a transaction 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 completion of the sale, the chief executive officer owned 23,425 shares of the company’s stock, valued at $4,880,130.25. This trade represents a 2.98% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 0.17% of the stock is owned by insiders.

American Tower Trading Down 2.1%

Shares of NYSE:AMT opened at $193.01 on Friday. The company has a debt-to-equity ratio of 3.36, a quick ratio of 0.95 and a current ratio of 0.95. The stock has a market capitalization of $90.38 billion, a price-to-earnings ratio of 70.19, a PEG ratio of 1.22 and a beta of 0.86. American Tower Corporation has a 1-year low of $172.51 and a 1-year high of $238.34. The company has a 50 day moving average price of $208.70 and a 200 day moving average price of $213.07.

American Tower (NYSE:AMT) last released its quarterly earnings results on Tuesday, July 29th. The real estate investment trust reported $2.60 earnings per share for the quarter, beating analysts’ consensus estimates 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 return on equity of 24.85% and a net margin of 12.60%.American Tower’s revenue for the quarter was down 9.4% on a year-over-year basis. During the same quarter last year, the company posted $2.79 EPS. American Tower has set its FY 2025 guidance at 10.460-10.650 EPS. On average, research analysts anticipate that American Tower Corporation will post 10.14 EPS for the current fiscal year.

American Tower Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, October 20th. Shareholders of record on Tuesday, September 30th will be paid a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a yield of 3.5%. The ex-dividend date of this dividend 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.