American Tower Corporation $AMT is Cbre Investment Management Listed Real Assets LLC’s 8th Largest Position

Cbre Investment Management Listed Real Assets LLC increased its position in shares of American Tower Corporation (NYSE:AMT) by 31.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 798,849 shares of the real estate investment trust’s stock after buying an additional 191,153 shares during the period. American Tower comprises approximately 2.7% of Cbre Investment Management Listed Real Assets LLC’s holdings, making the stock its 8th largest holding. Cbre Investment Management Listed Real Assets LLC owned about 0.17% of American Tower worth $176,562,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Focus Financial Network Inc. raised its stake in shares of American Tower by 9.1% during the 2nd quarter. Focus Financial Network Inc. now owns 2,042 shares of the real estate investment trust’s stock worth $451,000 after acquiring an additional 170 shares in the last quarter. Resolution Capital Ltd purchased a new position in American Tower in the first quarter worth $72,706,000. Stack Financial Management Inc acquired a new position in shares of American Tower during the second quarter worth $13,020,000. Kovitz Investment Group Partners LLC boosted its position in shares of American Tower by 126.0% in the 1st quarter. Kovitz Investment Group Partners LLC now owns 97,495 shares of the real estate investment trust’s stock worth $21,215,000 after purchasing an additional 54,360 shares in the last quarter. Finally, Nordea Investment Management AB grew its stake in American Tower by 1.0% during the 2nd quarter. Nordea Investment Management AB now owns 1,532,818 shares of the real estate investment trust’s stock worth $334,430,000 after buying an additional 15,920 shares during the last quarter. 92.69% of the stock is currently owned by institutional investors.

American Tower Price Performance

Shares of NYSE:AMT opened at $177.95 on Friday. American Tower Corporation has a twelve month low of $172.51 and a twelve month high of $234.33. The company has a current ratio of 0.89, a quick ratio of 0.95 and a debt-to-equity ratio of 3.24. The company has a market cap of $83.32 billion, a PE ratio of 28.43, a price-to-earnings-growth ratio of 1.08 and a beta of 0.85. The company’s 50 day moving average is $190.49 and its 200 day moving average is $206.89.

American Tower (NYSE:AMT) last released its quarterly earnings data on Tuesday, October 28th. The real estate investment trust reported $2.78 EPS for the quarter, beating the consensus estimate of $2.64 by $0.14. American Tower had a net margin of 28.11% and a return on equity of 28.79%. The business had revenue of $2.72 billion for the quarter, compared to the consensus estimate of $2.65 billion. During the same period in the prior year, the firm earned $2.52 EPS. The business’s revenue for the quarter was up 7.7% on a year-over-year basis. American Tower has set its FY 2025 guidance at 10.600-10.720 EPS. On average, sell-side analysts forecast that American Tower Corporation will post 10.14 EPS for the current year.

American Tower Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, October 20th. Stockholders of record on Tuesday, September 30th were paid a $1.70 dividend. The ex-dividend date was Tuesday, September 30th. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.8%. American Tower’s dividend payout ratio is presently 108.63%.

Insider Activity at American Tower

In related news, Director Eugene F. Reilly bought 5,554 shares of the company’s stock in a transaction that occurred on Friday, October 31st. The shares were purchased at an average cost of $178.99 per share, with a total value of $994,110.46. Following the completion of the acquisition, the director directly owned 5,689 shares in the company, valued at approximately $1,018,274.11. The trade was a 4,114.07% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.17% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Royal Bank Of Canada set a $220.00 price target on American Tower and gave the company a “sector perform” rating in a research note on Wednesday, October 1st. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of American Tower in a research report on Wednesday, October 8th. JPMorgan Chase & Co. lowered their target price on shares of American Tower from $255.00 to $250.00 and set an “overweight” rating for the company in a research note on Wednesday, October 29th. UBS Group restated a “buy” rating and set a $260.00 price target on shares of American Tower in a research note on Wednesday, October 29th. Finally, The Goldman Sachs Group decreased their price target on shares of American Tower from $250.00 to $230.00 and set a “buy” rating for the company in a report on Wednesday, October 29th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $231.11.

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.