Mediolanum International Funds Ltd Acquires 91,851 Shares of American Tower Corporation $AMT

Mediolanum International Funds Ltd lifted its holdings in shares of American Tower Corporation (NYSE:AMT) by 281.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 124,501 shares of the real estate investment trust’s stock after purchasing an additional 91,851 shares during the quarter. Mediolanum International Funds Ltd’s holdings in American Tower were worth $27,114,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of AMT. Hopwood Financial Services Inc. raised its holdings in American Tower by 100.0% during the 1st quarter. Hopwood Financial Services Inc. now owns 120 shares of the real estate investment trust’s stock worth $26,000 after buying an additional 60 shares during the period. Legacy Investment Solutions LLC bought a new stake in shares of American Tower during the second quarter worth $31,000. VSM Wealth Advisory LLC lifted its position in American Tower by 136.4% in the 2nd quarter. VSM Wealth Advisory LLC now owns 156 shares of the real estate investment trust’s stock valued at $34,000 after acquiring an additional 90 shares in the last quarter. Rosenberg Matthew Hamilton boosted its stake in American Tower by 86.0% in the 2nd quarter. Rosenberg Matthew Hamilton now owns 173 shares of the real estate investment trust’s stock worth $38,000 after purchasing an additional 80 shares during the period. Finally, Saudi Central Bank bought a new position in American Tower during the 1st quarter worth about $40,000. 92.69% of the stock is currently owned by institutional investors and hedge funds.

American Tower Stock Down 0.8%

American Tower stock opened at $179.09 on Friday. 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 company’s 50-day moving average is $187.23 and its 200-day moving average is $204.34. The firm has a market capitalization of $83.84 billion, a PE ratio of 28.61, a P/E/G ratio of 1.08 and a beta of 0.85. 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 posted its quarterly earnings results on Tuesday, October 28th. The real estate investment trust reported $2.78 EPS for the quarter, topping 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%.American Tower’s quarterly revenue was up 7.7% on a year-over-year basis. During the same quarter last year, the company posted $2.52 earnings per share. American Tower has set its FY 2025 guidance at 10.600-10.720 EPS. Sell-side analysts anticipate that American Tower Corporation will post 10.14 earnings per share for the current year.

American Tower Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, October 20th. Stockholders of record on Tuesday, September 30th were paid 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 currently 108.63%.

Insider Buying and Selling at American Tower

In other American Tower news, Director Eugene F. Reilly purchased 5,554 shares of the company’s stock in a transaction that occurred 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 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 acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 0.18% of the company’s stock.

Analyst Upgrades and Downgrades

AMT has been the topic of a number of recent research reports. Citigroup reissued a “market outperform” rating on shares of American Tower in a research report on Wednesday, October 29th. Barclays decreased their target price on shares of American Tower from $251.00 to $203.00 and set an “overweight” rating for the company in a research report on Monday. BMO Capital Markets reduced their price objective on shares of American Tower from $220.00 to $215.00 and set an “outperform” rating for the company in a research note on Wednesday, October 29th. Jefferies Financial Group lowered their target price on American Tower from $281.00 to $226.00 and set a “buy” rating on the stock in a research report on Monday, October 13th. Finally, HSBC dropped their target price on American Tower from $235.00 to $205.00 in a report on Wednesday, October 29th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $228.44.

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.