Westwood Holdings Group Inc. Grows Stock Holdings in American Tower Corporation $AMT

Westwood Holdings Group Inc. boosted its position in American Tower Corporation (NYSE:AMT) by 829.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 163,249 shares of the real estate investment trust’s stock after buying an additional 145,677 shares during the quarter. Westwood Holdings Group Inc.’s holdings in American Tower were worth $36,081,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Nuveen LLC bought a new position in shares of American Tower during the first quarter valued at approximately $991,525,000. Price T Rowe Associates Inc. MD boosted its stake in 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 purchasing an additional 2,309,627 shares during the last quarter. Alyeska Investment Group L.P. bought a new stake in shares of American Tower in the first quarter worth approximately $162,127,000. Amundi grew its holdings in shares of American Tower by 35.5% in the first quarter. Amundi now owns 2,838,421 shares of the real estate investment trust’s stock worth $645,694,000 after acquiring an additional 743,617 shares during the period. Finally, T. Rowe Price Investment Management Inc. raised its position in American Tower by 490.9% in the first quarter. T. Rowe Price Investment Management Inc. now owns 650,789 shares of the real estate investment trust’s stock worth $141,612,000 after acquiring an additional 540,648 shares during the period. 92.69% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Eugene F. Reilly acquired 5,554 shares of American Tower stock in a transaction that occurred on Friday, October 31st. The shares were purchased at an average cost of $178.99 per share, for a total transaction of $994,110.46. Following the acquisition, the director owned 5,689 shares in the company, valued at approximately $1,018,274.11. This represents a 4,114.07% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 0.17% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on AMT. 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. Jefferies Financial Group reduced their price objective on American Tower from $281.00 to $226.00 and set a “buy” rating on the stock in a research note on Monday, October 13th. TD Cowen lowered their price objective on shares of American Tower from $249.00 to $235.00 and set a “buy” rating for the company in a research report on Wednesday, October 29th. HSBC decreased their price target on American Tower from $235.00 to $205.00 in a report on Wednesday, October 29th. Finally, JPMorgan Chase & Co. lowered their target price on shares of American Tower from $255.00 to $250.00 and set an “overweight” rating for the company in a research note on Wednesday, October 29th. Two 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 company. According to data from MarketBeat.com, American Tower currently has an average rating of “Moderate Buy” and a consensus target price of $231.11.

American Tower Trading Up 1.4%

Shares of NYSE:AMT opened at $183.58 on Friday. The business’s 50-day moving average is $188.36 and its 200 day moving average is $205.54. The firm has a market capitalization of $85.94 billion, a P/E ratio of 29.33, a P/E/G ratio of 1.08 and a beta of 0.85. American Tower Corporation has a 1 year low of $172.51 and a 1 year high of $234.33. The company has a debt-to-equity ratio of 3.24, a current ratio of 0.89 and a quick ratio of 0.95.

American Tower (NYSE:AMT) last released its quarterly earnings data on Tuesday, October 28th. The real estate investment trust reported $2.78 EPS for the quarter, beating 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 business had revenue of $2.72 billion for the quarter, compared to the consensus estimate of $2.65 billion. During the same period in the prior year, the firm earned $2.52 EPS. The business’s revenue for the quarter was up 7.7% on a year-over-year basis. American Tower has set its FY 2025 guidance at 10.600-10.720 EPS. On average, 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 issued a $1.70 dividend. This represents a $6.80 annualized dividend and a yield of 3.7%. The ex-dividend date was Tuesday, September 30th. American Tower’s 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.