LGT Fund Management Co Ltd. Buys 5,026 Shares of American Tower Corporation $AMT

LGT Fund Management Co Ltd. grew its stake in American Tower Corporation (NYSE:AMT) by 7.0% during the 2nd quarter, HoldingsChannel reports. The firm owned 76,886 shares of the real estate investment trust’s stock after acquiring an additional 5,026 shares during the quarter. American Tower makes up approximately 1.5% of LGT Fund Management Co Ltd.’s holdings, making the stock its 16th biggest holding. LGT Fund Management Co Ltd.’s holdings in American Tower were worth $16,993,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. North Capital Inc. bought a new stake in shares of American Tower in the 1st quarter valued at approximately $25,000. Hopwood Financial Services Inc. grew its stake in shares of American Tower by 100.0% in the 1st quarter. Hopwood Financial Services Inc. now owns 120 shares of the real estate investment trust’s stock valued at $26,000 after purchasing an additional 60 shares during the period. E Fund Management Hong Kong Co. Ltd. bought a new stake in shares of American Tower in the 1st quarter valued at approximately $31,000. City Holding Co. bought a new stake in shares of American Tower in the 1st quarter valued at approximately $39,000. Finally, Saudi Central Bank bought a new stake in shares of American Tower in the 1st quarter valued at approximately $40,000. 92.69% of the stock is currently owned by institutional investors.

American Tower Stock Down 0.6%

NYSE:AMT opened at $190.10 on Friday. The stock’s fifty day moving average price is $201.53 and its two-hundred day moving average price is $211.76. American Tower Corporation has a 52-week low of $172.51 and a 52-week high of $234.33. The company has a debt-to-equity ratio of 3.36, a quick ratio of 0.95 and a current ratio of 0.95. The company has a market cap of $89.01 billion, a price-to-earnings ratio of 69.13, a P/E/G ratio of 1.18 and a beta of 0.86.

American Tower (NYSE:AMT) last posted its quarterly earnings data on Tuesday, July 29th. The real estate investment trust reported $2.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.59 by $0.01. American Tower had a return on equity of 24.85% and a net margin of 12.60%.The firm had revenue of $2.63 billion for the quarter, compared to the consensus estimate of $2.58 billion. During the same quarter in the prior year, the business earned $2.79 EPS. The business’s revenue for the quarter was down 9.4% compared to the same quarter last year. American Tower has set its FY 2025 guidance at 10.460-10.650 EPS. On average, analysts anticipate that American Tower Corporation will post 10.14 EPS for the current year.

American Tower Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 20th. Shareholders of record on Tuesday, September 30th will be issued a dividend of $1.70 per share. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $6.80 annualized dividend and a yield of 3.6%. American Tower’s dividend payout ratio is currently 247.27%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on AMT. Raymond James Financial set a $250.00 price target on American Tower and gave the stock a “strong-buy” rating in a research report on Wednesday, July 30th. HSBC cut American Tower from a “buy” rating to a “hold” rating and set a $235.00 target price on the stock. in a report on Wednesday, July 30th. Weiss Ratings restated a “hold (c-)” rating on shares of American Tower in a research note on Saturday, September 27th. The Goldman Sachs Group restated a “buy” rating on shares of American Tower in a research note on Tuesday, July 29th. Finally, UBS Group raised their target price on American Tower from $250.00 to $260.00 and gave the company a “buy” rating in a research note on Tuesday, July 8th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $242.07.

Insider Transactions at American Tower

In other American Tower news, CEO Juan Font sold 720 shares of the company’s stock in a transaction on Thursday, July 31st. The stock was sold at an average price of $208.33, for a total transaction of $149,997.60. Following the transaction, the chief executive officer owned 23,425 shares of the company’s stock, valued at approximately $4,880,130.25. This represents a 2.98% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.17% of the company’s stock.

American Tower Company 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.