Vanguard Group Inc. Has $13.93 Billion Stock Position in American Tower Corporation $AMT

Vanguard Group Inc. grew its holdings in shares of American Tower Corporation (NYSE:AMT) by 0.3% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 63,028,367 shares of the real estate investment trust’s stock after acquiring an additional 218,881 shares during the period. Vanguard Group Inc. owned about 13.46% of American Tower worth $13,930,530,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. Hopwood Financial Services Inc. raised its position 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 purchasing an additional 60 shares during the last quarter. Legacy Investment Solutions LLC acquired a new position in shares of American Tower in the second quarter worth approximately $31,000. Rosenberg Matthew Hamilton boosted its holdings in American Tower by 86.0% in the second quarter. Rosenberg Matthew Hamilton now owns 173 shares of the real estate investment trust’s stock valued at $38,000 after acquiring an additional 80 shares during the last quarter. Saudi Central Bank acquired a new stake in American Tower during the 1st quarter valued at approximately $40,000. Finally, Accredited Wealth Management LLC increased its position in American Tower by 180.0% during the 1st quarter. Accredited Wealth Management LLC now owns 210 shares of the real estate investment trust’s stock valued at $46,000 after purchasing an additional 135 shares during the period. Institutional investors and hedge funds own 92.69% of the company’s stock.

Wall Street Analyst Weigh In

AMT has been the topic of a number of analyst reports. Barclays reduced their price objective on shares of American Tower from $251.00 to $203.00 and set an “overweight” rating on the stock in a research note on Monday. Hsbc Global Res lowered shares of American Tower from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 30th. The Goldman Sachs Group decreased their price target on American Tower from $250.00 to $230.00 and set a “buy” rating for the company in a report on Wednesday, October 29th. HSBC lowered their price objective on American Tower from $235.00 to $205.00 in a research report on Wednesday, October 29th. Finally, Royal Bank Of Canada set a $220.00 target price on American Tower and gave the company a “sector perform” rating in a research report on Wednesday, October 1st. Two analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $228.44.

Insider Buying and Selling at American Tower

In other news, Director Eugene F. Reilly bought 5,554 shares of the business’s stock in a transaction that occurred on Friday, October 31st. The shares were bought at an average cost of $178.99 per share, for a total transaction of $994,110.46. Following the acquisition, the director directly owned 5,689 shares in the company, valued at approximately $1,018,274.11. This trade represents a 4,114.07% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.17% of the stock is owned by insiders.

American Tower Trading Down 1.7%

AMT opened at $180.41 on Tuesday. The company has a fifty day moving average price of $188.10 and a two-hundred day moving average price of $204.98. American Tower Corporation has a 1-year low of $172.51 and a 1-year high of $234.33. The company has a market cap of $84.46 billion, a P/E ratio of 28.82, a price-to-earnings-growth ratio of 1.08 and a beta of 0.85. The company has a current ratio of 0.89, a quick ratio of 0.95 and a debt-to-equity ratio of 3.24.

American Tower (NYSE:AMT) last released its quarterly earnings data on Tuesday, October 28th. The real estate investment trust reported $2.78 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $2.65 billion. During the same quarter in the prior year, the firm earned $2.52 EPS. The business’s revenue was up 7.7% on a year-over-year basis. American Tower has set its FY 2025 guidance at 10.600-10.720 EPS. Analysts predict 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 was paid on Monday, October 20th. Stockholders of record on Tuesday, September 30th were issued a dividend of $1.70 per share. The ex-dividend date was Tuesday, September 30th. This represents a $6.80 annualized dividend and a dividend yield of 3.8%. American Tower’s payout ratio is currently 108.63%.

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.