Pacer Advisors Inc. Boosts Holdings in American Tower Corporation $AMT

Pacer Advisors Inc. lifted its position in shares of American Tower Corporation (NYSE:AMT) by 9.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 377,243 shares of the real estate investment trust’s stock after purchasing an additional 33,182 shares during the period. Pacer Advisors Inc. owned about 0.08% of American Tower worth $72,551,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Legacy Investment Solutions LLC purchased a new position in shares of American Tower during the 2nd quarter valued at approximately $31,000. Abound Wealth Management lifted its stake in American Tower by 137.3% in the third quarter. Abound Wealth Management now owns 140 shares of the real estate investment trust’s stock valued at $27,000 after buying an additional 81 shares during the last quarter. VSM Wealth Advisory LLC boosted its stake in American Tower by 136.4% during the 2nd quarter. VSM Wealth Advisory LLC now owns 156 shares of the real estate investment trust’s stock valued at $34,000 after purchasing an additional 90 shares during the period. Rosenberg Matthew Hamilton boosted its position in shares of American Tower by 86.0% during the second quarter. Rosenberg Matthew Hamilton now owns 173 shares of the real estate investment trust’s stock worth $38,000 after buying an additional 80 shares during the period. Finally, Saudi Central Bank acquired a new position in American Tower during the 1st quarter worth $40,000. Hedge funds and other institutional investors own 92.69% of the company’s stock.

American Tower Price Performance

Shares of NYSE:AMT opened at $174.80 on Friday. The stock has a market capitalization of $81.83 billion, a P/E ratio of 27.92, a P/E/G ratio of 0.70 and a beta of 0.91. The business has a 50-day moving average of $180.84 and a two-hundred day moving average of $198.12. American Tower Corporation has a fifty-two week low of $170.77 and a fifty-two week high of $234.33. The company has a debt-to-equity ratio of 3.24, a current ratio of 0.89 and a quick ratio of 0.89.

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

American Tower Announces Dividend

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

Analysts Set New Price Targets

Several brokerages recently weighed in on AMT. Morgan Stanley decreased their target price on American Tower from $255.00 to $235.00 and set an “overweight” rating for the company in a research note on Thursday, December 4th. HSBC reduced their price target on shares of American Tower from $235.00 to $205.00 in a research report on Wednesday, October 29th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of American Tower in a research report on Monday. JPMorgan Chase & Co. reduced their price target on American Tower from $255.00 to $250.00 and set an “overweight” rating for the company in a report on Wednesday, October 29th. Finally, Jefferies Financial Group dropped their price objective on American Tower from $226.00 to $202.00 and set a “buy” rating on the stock in a report on Tuesday, December 16th. Two equities research 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 stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $226.67.

Insider Buying and Selling

In other American Tower news, Director Eugene F. Reilly bought 5,554 shares of the stock in a transaction on Friday, October 31st. The shares were purchased at an average price of $178.99 per share, with a total value of $994,110.46. Following the acquisition, the director directly owned 5,689 shares of the company’s stock, valued at $1,018,274.11. This represents a 4,114.07% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, major shareholder Tower Corp /Ma/ American sold 2,288,621 shares of American Tower stock in a transaction that occurred on Tuesday, December 9th. The stock was sold at an average price of $69.75, for a total value of $159,631,314.75. Following the completion of the transaction, the insider directly owned 211,379 shares in the company, valued at approximately $14,743,685.25. This represents a 91.54% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 0.17% of the company’s stock.

American Tower Company 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.