Invesco Ltd. Purchases 708,808 Shares of American Tower Corporation $AMT

Invesco Ltd. increased its holdings in shares of American Tower Corporation (NYSE:AMT) by 11.9% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,680,524 shares of the real estate investment trust’s stock after acquiring an additional 708,808 shares during the period. Invesco Ltd. owned about 1.43% of American Tower worth $1,476,529,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the business. Legacy Investment Solutions LLC bought a new position in American Tower in the 2nd quarter valued at $31,000. VSM Wealth Advisory LLC lifted its stake in shares of American Tower by 136.4% during the second 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 during the period. 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 in the first quarter worth about $40,000. Finally, Winnow Wealth LLC bought a new stake in American Tower during the 2nd quarter worth about $44,000. Institutional investors own 92.69% of the company’s stock.

American Tower Stock Down 0.2%

Shares of AMT stock opened at $175.86 on Wednesday. American Tower Corporation has a 12-month low of $172.51 and a 12-month high of $234.33. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 3.24. The firm has a fifty day moving average of $184.88 and a 200-day moving average of $202.21. The company has a market capitalization of $82.33 billion, a price-to-earnings ratio of 28.09, a P/E/G ratio of 0.70 and a beta of 0.91.

American Tower (NYSE:AMT) last announced its earnings results on Tuesday, October 28th. The real estate investment trust reported $2.78 earnings per share 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 firm had revenue of $2.72 billion during the quarter, compared to analyst estimates of $2.65 billion. During the same period in the prior year, the business earned $2.52 EPS. The company’s revenue for the quarter 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. As a group, equities research analysts predict that American Tower Corporation will post 10.14 earnings per share for the current fiscal year.

American Tower Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, October 20th. Shareholders of record on Tuesday, September 30th were paid a $1.70 dividend. The ex-dividend date was Tuesday, September 30th. This represents a $6.80 annualized dividend and a yield of 3.9%. American Tower’s payout ratio is presently 108.63%.

Insiders Place Their Bets

In other American Tower news, Director Eugene F. Reilly purchased 5,554 shares of the firm’s stock in a transaction dated Friday, October 31st. The stock was bought at an average cost of $178.99 per share, with a total value of $994,110.46. Following the purchase, the director directly owned 5,689 shares of the company’s stock, valued at $1,018,274.11. The trade was a 4,114.07% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. 0.18% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts recently commented on AMT shares. Citigroup reaffirmed a “market outperform” rating on shares of American Tower in a research note on Wednesday, October 29th. The Goldman Sachs Group lowered their price target on American Tower from $250.00 to $230.00 and set a “buy” rating for the company in a research note on Wednesday, October 29th. TD Cowen reduced 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. Morgan Stanley lowered their target price on shares of American Tower from $270.00 to $235.00 and set an “overweight” rating for the company in a research note on Thursday, October 16th. Finally, Raymond James Financial reissued a “strong-buy” rating and set a $231.00 price target (down from $250.00) on shares of American Tower in a research report on Wednesday, October 29th. Two analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, American Tower presently has an average rating of “Moderate Buy” and an average price target of $228.28.

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.