OFI Invest Asset Management Has $28.73 Million Holdings in American Tower Corporation $AMT

OFI Invest Asset Management increased its holdings in shares of American Tower Corporation (NYSE:AMT) by 7.6% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 129,967 shares of the real estate investment trust’s stock after acquiring an additional 9,143 shares during the quarter. OFI Invest Asset Management’s holdings in American Tower were worth $28,725,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Focus Financial Network Inc. raised its stake in shares of American Tower by 9.1% in the 2nd quarter. Focus Financial Network Inc. now owns 2,042 shares of the real estate investment trust’s stock valued at $451,000 after purchasing an additional 170 shares during the period. Resolution Capital Ltd acquired a new stake in shares of American Tower in the 1st quarter valued at about $72,706,000. Golden State Wealth Management LLC raised its stake in shares of American Tower by 23.0% in the 1st quarter. Golden State Wealth Management LLC now owns 369 shares of the real estate investment trust’s stock valued at $80,000 after purchasing an additional 69 shares during the period. Shum Financial Group Inc. raised its stake in shares of American Tower by 3.5% in the 1st quarter. Shum Financial Group Inc. now owns 4,196 shares of the real estate investment trust’s stock valued at $913,000 after purchasing an additional 141 shares during the period. Finally, Kovitz Investment Group Partners LLC grew its holdings in shares of American Tower by 126.0% in the 1st quarter. Kovitz Investment Group Partners LLC now owns 97,495 shares of the real estate investment trust’s stock valued at $21,215,000 after acquiring an additional 54,360 shares in the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

American Tower Trading Up 0.7%

American Tower stock opened at $186.60 on Friday. 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 stock has a market capitalization of $87.38 billion, a P/E ratio of 67.85, a PEG ratio of 1.13 and a beta of 0.86. The stock has a 50-day simple moving average of $198.75 and a 200 day simple moving average of $210.82.

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

American Tower Announces Dividend

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

Insider Transactions at American Tower

In other American Tower news, CEO Juan Font sold 720 shares of the firm’s stock in a transaction that occurred on Thursday, July 31st. The shares were sold at an average price of $208.33, for a total transaction of $149,997.60. Following the completion of the sale, the chief executive officer directly owned 23,425 shares in the company, valued at $4,880,130.25. This trade represents a 2.98% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.17% of the stock is owned by company insiders.

Analyst Ratings Changes

AMT has been the subject of several analyst reports. UBS Group raised their price objective on American Tower from $250.00 to $260.00 and gave the company a “buy” rating in a report on Tuesday, July 8th. Barclays raised their price objective on American Tower from $246.00 to $250.00 and gave the company an “overweight” rating in a report on Monday, August 18th. Wells Fargo & Company decreased their price objective on American Tower from $240.00 to $230.00 and set an “overweight” rating for the company in a report on Wednesday, July 30th. Royal Bank Of Canada set a $220.00 price objective on American Tower and gave the company a “sector perform” rating in a report on Wednesday, October 1st. Finally, The Goldman Sachs Group restated a “buy” rating on shares of American Tower in a report on Tuesday, July 29th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, American Tower has a consensus rating of “Moderate Buy” and an average price target of $242.07.

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.