Ensign Peak Advisors Inc Grows Position in American Tower Corporation $AMT

Ensign Peak Advisors Inc boosted its stake in American Tower Corporation (NYSE:AMT) by 28.3% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 777,006 shares of the real estate investment trust’s stock after purchasing an additional 171,464 shares during the quarter. Ensign Peak Advisors Inc owned about 0.17% of American Tower worth $171,734,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the company. Nuveen LLC bought a new position in shares of American Tower during the 1st quarter valued at approximately $991,525,000. Price T Rowe Associates Inc. MD lifted its holdings 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 acquiring an additional 2,309,627 shares during the last quarter. Alyeska Investment Group L.P. bought a new stake in American Tower during the first quarter worth approximately $162,127,000. Amundi raised its position in American Tower by 35.5% during the first 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. Finally, T. Rowe Price Investment Management Inc. boosted its holdings in shares of American Tower by 490.9% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 650,789 shares of the real estate investment trust’s stock worth $141,612,000 after purchasing an additional 540,648 shares during the period. 92.69% of the stock is owned by institutional investors.

American Tower Trading Down 0.6%

AMT stock opened at $180.49 on Thursday. American Tower Corporation has a 52-week low of $172.51 and a 52-week high of $234.33. The company has a quick ratio of 0.95, a current ratio of 0.89 and a debt-to-equity ratio of 3.24. The firm has a market cap of $84.50 billion, a P/E ratio of 28.83, a PEG ratio of 1.08 and a beta of 0.85. The company’s 50-day simple moving average is $187.58 and its 200-day simple moving average is $204.52.

American Tower (NYSE:AMT) last posted its quarterly earnings data 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 business 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 business’s revenue was up 7.7% compared to the same quarter last year. During the same period in the previous year, the business earned $2.52 earnings per share. American Tower has set its FY 2025 guidance at 10.600-10.720 EPS. As a group, equities analysts forecast that American Tower Corporation will post 10.14 EPS for the current fiscal year.

American Tower Dividend Announcement

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

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Wells Fargo & Company decreased their price target on American Tower from $210.00 to $200.00 and set an “overweight” rating for the company in a research note on Wednesday, October 29th. UBS Group reiterated a “buy” rating and set a $260.00 price objective on shares of American Tower in a report on Wednesday, October 29th. Hsbc Global Res downgraded American Tower from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 30th. Citigroup reissued a “market outperform” rating on shares of American Tower in a research report on Wednesday, October 29th. Finally, The Goldman Sachs Group lowered their price target on shares of American Tower from $250.00 to $230.00 and set a “buy” rating for the company in a research report on Wednesday, October 29th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $228.44.

Insider Buying and Selling

In other American Tower news, Director Eugene F. Reilly bought 5,554 shares of the firm’s stock in a transaction on Friday, October 31st. The shares were acquired at an average cost of $178.99 per share, with a total value of $994,110.46. Following the purchase, the director directly 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 acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.18% of the company’s stock.

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.