KBC Group NV Has $41.28 Million Stock Position in American Tower Corporation $AMT

KBC Group NV lowered its holdings in shares of American Tower Corporation (NYSE:AMT) by 13.7% during the second quarter, Holdings Channel reports. The firm owned 186,752 shares of the real estate investment trust’s stock after selling 29,641 shares during the period. KBC Group NV’s holdings in American Tower were worth $41,276,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. lifted its position in shares of American Tower by 0.7% in the first quarter. Vanguard Group Inc. now owns 62,809,486 shares of the real estate investment trust’s stock worth $13,667,344,000 after buying an additional 434,118 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in American Tower by 39.6% during the first 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 purchasing an additional 2,309,627 shares during the last quarter. Deutsche Bank AG raised its position in shares of American Tower by 4.0% in the first quarter. Deutsche Bank AG now owns 7,383,368 shares of the real estate investment trust’s stock valued at $1,606,621,000 after purchasing an additional 285,195 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of American Tower by 1.4% during the 1st 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 buying an additional 88,120 shares during the period. Finally, Invesco Ltd. grew its stake in American Tower by 0.5% in the 1st quarter. Invesco Ltd. now owns 5,971,716 shares of the real estate investment trust’s stock valued at $1,299,445,000 after buying an additional 30,130 shares during the last quarter. 92.69% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on AMT shares. Hsbc Global Res lowered shares of American Tower from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 30th. Barclays upped their price target on American Tower from $250.00 to $251.00 and gave the stock an “overweight” rating in a report on Friday, October 17th. Wells Fargo & Company dropped their target price on shares of American Tower from $210.00 to $200.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 29th. HSBC reduced their price target on shares of American Tower from $235.00 to $205.00 in a report on Wednesday, October 29th. Finally, UBS Group restated a “buy” rating and issued a $260.00 price target on shares of American Tower in a research report on Wednesday, October 29th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, American Tower has a consensus rating of “Moderate Buy” and a consensus price target of $231.11.

Insider Activity at American Tower

In related news, Director Eugene F. Reilly purchased 5,554 shares of the firm’s stock in a transaction that occurred on Friday, October 31st. The shares were acquired at an average price of $178.99 per share, with a total value of $994,110.46. Following the purchase, the director directly owned 5,689 shares in the company, valued at $1,018,274.11. This represents a 4,114.07% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.17% of the stock is owned by company insiders.

American Tower Stock Down 0.8%

AMT opened at $183.34 on Thursday. American Tower Corporation has a fifty-two week low of $172.51 and a fifty-two week high of $234.33. The company has a market capitalization of $85.83 billion, a P/E ratio of 29.29, a P/E/G ratio of 1.08 and a beta of 0.85. The company has a debt-to-equity ratio of 3.24, a current ratio of 0.89 and a quick ratio of 0.95. The firm’s fifty day moving average price is $188.94 and its two-hundred day moving average price is $205.91.

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

American Tower Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, October 20th. Stockholders of record on Tuesday, September 30th were issued a $1.70 dividend. The ex-dividend date of this dividend was Tuesday, September 30th. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.7%. American Tower’s dividend payout ratio is presently 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.