Los Angeles Capital Management LLC Boosts Stock Position in American Tower Corporation $AMT

Los Angeles Capital Management LLC boosted its position in shares of American Tower Corporation (NYSE:AMT) by 52.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 321,661 shares of the real estate investment trust’s stock after purchasing an additional 110,671 shares during the period. Los Angeles Capital Management LLC owned approximately 0.07% of American Tower worth $71,094,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Focus Financial Network Inc. boosted its stake in shares of American Tower by 9.1% during the second quarter. Focus Financial Network Inc. now owns 2,042 shares of the real estate investment trust’s stock worth $451,000 after buying an additional 170 shares during the period. Resolution Capital Ltd acquired a new stake in shares of American Tower in the first quarter valued at approximately $72,706,000. Stack Financial Management Inc purchased a new stake in American Tower during the 2nd quarter worth about $13,020,000. Kovitz Investment Group Partners LLC boosted its holdings in shares of American Tower by 126.0% during the first quarter. Kovitz Investment Group Partners LLC now owns 97,495 shares of the real estate investment trust’s stock worth $21,215,000 after purchasing an additional 54,360 shares during the last quarter. Finally, Nordea Investment Management AB grew its holdings in American Tower by 1.0% in the second quarter. Nordea Investment Management AB now owns 1,532,818 shares of the real estate investment trust’s stock valued at $334,430,000 after purchasing an additional 15,920 shares during the period. Hedge funds and other institutional investors own 92.69% of the company’s stock.

American Tower Stock Down 0.1%

AMT stock opened at $177.86 on Friday. The company has a market cap of $83.28 billion, a P/E ratio of 28.41, a price-to-earnings-growth ratio of 1.08 and a beta of 0.85. The stock’s 50 day simple moving average is $189.98 and its 200 day simple moving average is $206.61. 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 debt-to-equity ratio of 3.24, a quick ratio of 0.95 and a current ratio of 0.89.

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, topping analysts’ consensus estimates of $2.64 by $0.14. The company had revenue of $2.72 billion for the quarter, compared to analyst estimates 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 was up 7.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.52 EPS. American Tower has set its FY 2025 guidance at 10.600-10.720 EPS. On average, research analysts expect that American Tower Corporation will post 10.14 earnings per share for the current fiscal year.

American Tower Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 20th. Investors of record on Tuesday, September 30th were paid a dividend of $1.70 per share. The ex-dividend date of this dividend was Tuesday, September 30th. This represents a $6.80 annualized dividend and a yield of 3.8%. American Tower’s dividend payout ratio (DPR) is currently 108.63%.

Insider Buying and Selling at American Tower

In other news, Director Eugene F. Reilly bought 5,554 shares of American Tower 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 completion of the purchase, the director directly owned 5,689 shares in the company, valued at $1,018,274.11. The trade was a 4,114.07% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 0.17% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on AMT shares. The Goldman Sachs Group reduced their price objective on American Tower from $250.00 to $230.00 and set a “buy” rating on the stock in a research note on Wednesday, October 29th. HSBC reduced their price objective on American Tower from $235.00 to $205.00 in a research report on Wednesday, October 29th. Royal Bank Of Canada set a $220.00 price target on American Tower and gave the company a “sector perform” rating in a report on Wednesday, October 1st. BMO Capital Markets cut their price target on shares of American Tower from $220.00 to $215.00 and set an “outperform” rating for the company in a report on Wednesday, October 29th. Finally, UBS Group reissued a “buy” rating and set a $260.00 target price on shares of American Tower in a research note on Wednesday, October 29th. Two equities research 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 stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $231.11.

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.