American Tower Corporation $AMT Shares Purchased by OFI Invest Asset Management

OFI Invest Asset Management boosted its holdings in shares of American Tower Corporation (NYSE:AMT) by 2.6% during the 3rd quarter, HoldingsChannel reports. The firm owned 133,388 shares of the real estate investment trust’s stock after purchasing an additional 3,421 shares during the period. OFI Invest Asset Management’s holdings in American Tower were worth $25,653,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Vanguard Group Inc. increased its position in American Tower by 0.3% in the 2nd quarter. Vanguard Group Inc. now owns 63,028,367 shares of the real estate investment trust’s stock valued at $13,930,530,000 after acquiring an additional 218,881 shares during the period. JPMorgan Chase & Co. grew its stake 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 valued at $2,799,458,000 after purchasing an additional 2,474,328 shares during the last quarter. Invesco Ltd. increased its holdings in shares of American Tower by 11.9% in the second quarter. Invesco Ltd. now owns 6,680,524 shares of the real estate investment trust’s stock valued at $1,476,529,000 after purchasing an additional 708,808 shares during the period. Norges Bank purchased a new stake in shares of American Tower during the second quarter worth approximately $1,371,875,000. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of American Tower by 3.9% during the second quarter. Charles Schwab Investment Management Inc. now owns 5,563,565 shares of the real estate investment trust’s stock worth $1,229,659,000 after purchasing an additional 208,213 shares during the period. 92.69% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on AMT shares. TD Cowen dropped their price objective on shares of American Tower from $249.00 to $235.00 and set a “buy” rating on the stock in a research note on Wednesday, October 29th. Citigroup reaffirmed a “market outperform” rating on shares of American Tower in a report on Wednesday, October 29th. UBS Group reissued a “buy” rating on shares of American Tower in a report on Wednesday, December 10th. Weiss Ratings restated a “hold (c)” rating on shares of American Tower in a research report on Monday, December 15th. Finally, Wall Street Zen upgraded American Tower from a “sell” rating to a “hold” rating in a research report on Sunday, October 12th. Two analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $226.67.

Insiders Place Their Bets

In related news, major shareholder Tower Corp /Ma/ American sold 2,288,621 shares of the business’s stock in a transaction dated Tuesday, December 9th. The shares were sold at an average price of $69.75, for a total value of $159,631,314.75. Following the sale, the insider directly owned 211,379 shares in the company, valued at $14,743,685.25. The trade was a 91.54% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Eugene F. Reilly acquired 5,554 shares of the stock in a transaction that occurred on Friday, October 31st. The stock was acquired at an average cost of $178.99 per share, for a total transaction of $994,110.46. Following the completion of the purchase, the director owned 5,689 shares in the company, valued at $1,018,274.11. The trade was a 4,114.07% increase in their position. The SEC filing for this purchase provides additional information. 0.18% of the stock is currently owned by insiders.

American Tower Stock Up 0.0%

Shares of NYSE AMT opened at $172.49 on Tuesday. The stock has a market capitalization of $80.75 billion, a price-to-earnings ratio of 27.55, a price-to-earnings-growth ratio of 0.69 and a beta of 0.91. American Tower Corporation has a 52 week low of $170.77 and a 52 week high of $234.33. The firm has a 50-day moving average price of $181.72 and a 200 day moving average price of $198.72. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 3.24.

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

American Tower Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 2nd. Investors of record on Monday, December 29th will be issued a dividend of $1.70 per share. The ex-dividend date of this dividend is Monday, December 29th. This represents a $6.80 annualized dividend and a yield of 3.9%. American Tower’s payout ratio is currently 108.63%.

American Tower Profile

American Tower (NYSE: AMT) is a real estate investment trust (REIT) that owns, operates and develops wireless and broadcast communications infrastructure. The company’s core business is leasing space on communications sites — including towers, rooftops and other structures — to wireless carriers, broadcasters, government agencies and enterprise customers. Its business model centers on long-term site leases and contracts that provide recurring revenue tied to the footprint and density of wireless networks.

Beyond traditional tower assets, American Tower offers a range of infrastructure and network services to support mobile, broadband and broadcast connectivity.