Fayez Sarofim & Co Acquires 17,961 Shares of American Tower Corporation $AMT

Fayez Sarofim & Co raised its holdings in American Tower Corporation (NYSE:AMT) by 52.8% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 51,992 shares of the real estate investment trust’s stock after acquiring an additional 17,961 shares during the quarter. Fayez Sarofim & Co’s holdings in American Tower were worth $11,491,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of AMT. Vanguard Group Inc. lifted its position in American Tower by 0.3% during the second 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 purchasing an additional 218,881 shares during the last quarter. JPMorgan Chase & Co. increased its holdings 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 worth $2,799,458,000 after buying an additional 2,474,328 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of American Tower by 39.6% during 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 buying an additional 2,309,627 shares in the last quarter. Invesco Ltd. lifted its holdings in shares of American Tower by 11.9% during the 2nd quarter. Invesco Ltd. now owns 6,680,524 shares of the real estate investment trust’s stock worth $1,476,529,000 after acquiring an additional 708,808 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its position in American Tower by 1.4% in the first quarter. Dimensional Fund Advisors LP now owns 6,534,862 shares of the real estate investment trust’s stock worth $1,421,965,000 after acquiring an additional 88,120 shares in the last quarter. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Wall Street Analyst Weigh In

AMT has been the topic of a number of research reports. Royal Bank Of Canada set a $220.00 price target on American Tower and gave the company a “sector perform” rating in a research report on Wednesday, October 1st. Jefferies Financial Group decreased their price objective on American Tower from $281.00 to $226.00 and set a “buy” rating on the stock in a report on Monday, October 13th. Raymond James Financial reaffirmed a “strong-buy” rating and issued a $231.00 target price (down previously from $250.00) on shares of American Tower in a research note on Wednesday, October 29th. Barclays reissued an “equal weight” rating and set a $200.00 price target (down from $203.00) on shares of American Tower in a research note on Monday, December 1st. Finally, BMO Capital Markets lowered their price objective on shares of American Tower from $215.00 to $210.00 and set an “outperform” rating for the company in a report on Wednesday, December 3rd. Two research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, American Tower presently has a consensus rating of “Moderate Buy” and an average target price of $228.00.

American Tower Price Performance

Shares of American Tower stock opened at $183.17 on Tuesday. 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 Corporation has a one year low of $172.51 and a one year high of $234.33. The business’s 50 day simple moving average is $183.71 and its two-hundred day simple moving average is $201.24. The stock has a market capitalization of $85.75 billion, a P/E ratio of 29.26, a price-to-earnings-growth ratio of 0.71 and a beta of 0.91.

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, topping the consensus estimate of $2.64 by $0.14. American Tower had a net margin of 28.11% and a return on equity of 28.79%. The firm had revenue of $2.72 billion for the quarter, compared to analysts’ expectations of $2.65 billion. During the same quarter last year, the business earned $2.52 earnings per share. 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 forecast that American Tower Corporation will post 10.14 EPS for the current year.

American Tower Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 2nd. Shareholders of record on Monday, December 29th will be given a $1.70 dividend. The ex-dividend date is Monday, December 29th. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.7%. American Tower’s payout ratio is presently 108.63%.

Insider Activity at American Tower

In other news, Director Eugene F. Reilly bought 5,554 shares of the company’s stock in a transaction dated Friday, October 31st. The stock was bought at an average cost of $178.99 per share, for a total transaction of $994,110.46. Following the completion of the acquisition, the director owned 5,689 shares in the company, valued at approximately $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 at this hyperlink. Company insiders own 0.18% of the company’s stock.

American Tower 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.