Aberdeen Group plc Has $152.36 Million Position in American Tower Corporation $AMT

Aberdeen Group plc boosted its stake in shares of American Tower Corporation (NYSE:AMT) by 3.9% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 699,188 shares of the real estate investment trust’s stock after buying an additional 26,220 shares during the quarter. Aberdeen Group plc owned approximately 0.15% of American Tower worth $152,364,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of AMT. Nuveen LLC acquired a new position in American Tower during the 1st quarter worth about $991,525,000. Price T Rowe Associates Inc. MD lifted its stake in shares of American Tower by 39.6% in 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 purchasing an additional 2,309,627 shares during the period. Bessemer Group Inc. lifted its stake in shares of American Tower by 272.0% in the 1st quarter. Bessemer Group Inc. now owns 1,136,903 shares of the real estate investment trust’s stock valued at $247,390,000 after purchasing an additional 831,247 shares during the period. Alyeska Investment Group L.P. acquired a new position in shares of American Tower in the 1st quarter valued at about $162,127,000. Finally, Amundi lifted its stake in shares of American Tower by 35.5% in the 1st quarter. Amundi now owns 2,838,421 shares of the real estate investment trust’s stock valued at $645,694,000 after purchasing an additional 743,617 shares during the period. 92.69% of the stock is owned by institutional investors and hedge funds.

American Tower Stock Up 0.7%

AMT stock opened at $186.60 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’s 50 day simple moving average is $198.75 and its 200 day simple moving average is $210.81. The company has a market cap of $87.38 billion, a P/E ratio of 67.85, a price-to-earnings-growth ratio of 1.12 and a beta of 0.86. American Tower Corporation has a fifty-two week low of $172.51 and a fifty-two week high of $234.33.

American Tower (NYSE:AMT) last issued its quarterly earnings data on Tuesday, July 29th. The real estate investment trust reported $2.60 EPS for the quarter, topping analysts’ consensus estimates of $2.59 by $0.01. The firm 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%.The company’s revenue for the quarter was down 9.4% on a year-over-year basis. During the same period in the previous 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 expect that American Tower Corporation will post 10.14 earnings per share for the current fiscal year.

American Tower Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 20th. Shareholders 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 yield of 3.6%. The ex-dividend date of this dividend is Tuesday, September 30th. American Tower’s payout ratio is currently 247.27%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on AMT. Weiss Ratings reissued a “hold (c-)” rating on shares of American Tower in a research note on Wednesday. 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. JPMorgan Chase & Co. boosted their price objective on American Tower from $250.00 to $255.00 and gave the company an “overweight” rating in a research note on Wednesday, July 30th. HSBC downgraded American Tower from a “buy” rating to a “hold” rating and set a $235.00 price target on the stock. in a research note on Wednesday, July 30th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating on shares of American Tower in a research note on Tuesday, July 29th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $242.07.

Insider Buying and Selling

In other American Tower news, CEO Juan Font sold 720 shares of the business’s stock in a transaction that occurred on Thursday, July 31st. The stock was 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 directly owned 23,425 shares of the company’s stock, valued at approximately $4,880,130.25. The trade was a 2.98% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.17% of the company’s stock.

American Tower 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.