Rhumbline Advisers Purchases 2,456 Shares of American Tower Corporation $AMT

Rhumbline Advisers lifted its position in shares of American Tower Corporation (NYSE:AMT) by 0.2% during the second quarter, Holdings Channel.com reports. The institutional investor owned 1,078,789 shares of the real estate investment trust’s stock after acquiring an additional 2,456 shares during the quarter. Rhumbline Advisers’ holdings in American Tower were worth $238,434,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in American Tower by 0.3% in the second quarter. Vanguard Group Inc. now owns 63,028,367 shares of the real estate investment trust’s stock worth $13,930,530,000 after acquiring an additional 218,881 shares during the period. JPMorgan Chase & Co. lifted its position in shares of American Tower by 24.3% in the 2nd quarter. JPMorgan Chase & Co. now owns 12,666,082 shares of the real estate investment trust’s stock worth $2,799,458,000 after purchasing an additional 2,474,328 shares during the period. Price T Rowe Associates Inc. MD lifted its position 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 worth $1,772,144,000 after purchasing an additional 2,309,627 shares during the period. Deutsche Bank AG boosted its stake in shares of American Tower by 4.0% during the first quarter. Deutsche Bank AG now owns 7,383,368 shares of the real estate investment trust’s stock valued at $1,606,621,000 after purchasing an additional 285,195 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in American Tower by 1.4% during the first quarter. Dimensional Fund Advisors LP now owns 6,534,862 shares of the real estate investment trust’s stock valued at $1,421,965,000 after buying an additional 88,120 shares during the period. Hedge funds and other institutional investors own 92.69% of the company’s stock.

American Tower Stock Up 0.2%

American Tower stock opened at $179.56 on Friday. American Tower Corporation has a 1-year low of $172.51 and a 1-year high of $234.33. The business has a fifty day moving average price of $186.92 and a 200-day moving average price of $204.03. The company has a debt-to-equity ratio of 3.24, a current ratio of 0.89 and a quick ratio of 0.95. The stock has a market capitalization of $84.06 billion, a price-to-earnings ratio of 28.68, a PEG ratio of 1.08 and a beta of 0.85.

American Tower (NYSE:AMT) last released its quarterly earnings results on Tuesday, October 28th. The real estate investment trust reported $2.78 EPS for the quarter, beating analysts’ consensus estimates of $2.64 by $0.14. The company had revenue of $2.72 billion during the quarter, compared to analysts’ expectations of $2.65 billion. American Tower had a return on equity of 28.79% and a net margin of 28.11%.The firm’s revenue was up 7.7% compared to the same quarter last year. During the same period last year, the business posted $2.52 earnings per share. American Tower has set its FY 2025 guidance at 10.600-10.720 EPS. Equities research analysts forecast that American Tower Corporation will post 10.14 EPS for the current fiscal year.

American Tower Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, October 20th. Investors 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 yield of 3.8%. American Tower’s dividend payout ratio (DPR) is 108.63%.

Insiders Place Their Bets

In related news, Director Eugene F. Reilly purchased 5,554 shares of the business’s stock in a transaction on Friday, October 31st. The shares were acquired at an average price of $178.99 per share, for a total transaction of $994,110.46. Following the purchase, the director owned 5,689 shares of the company’s stock, valued at $1,018,274.11. This trade represents a 4,114.07% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.17% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. UBS Group restated a “buy” rating and set a $260.00 target price on shares of American Tower in a report on Wednesday, October 29th. Raymond James Financial reissued a “strong-buy” rating and issued a $231.00 price target (down from $250.00) on shares of American Tower in a research report on Wednesday, October 29th. Argus set a $210.00 price objective on American Tower in a research note on Thursday, October 30th. Hsbc Global Res lowered American Tower from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 30th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of American Tower in a report on Wednesday. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $228.44.

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.