Westwood Holdings Group Inc. Raises Position in American Tower Corporation $AMT

Westwood Holdings Group Inc. grew its position in shares of American Tower Corporation (NYSE:AMT) by 829.0% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund 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 & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in American Tower by 0.3% in the 2nd quarter. Vanguard Group Inc. now owns 63,028,367 shares of the real estate investment trust’s stock valued at $13,930,530,000 after acquiring an additional 218,881 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of American Tower by 24.3% in the second quarter. JPMorgan Chase & Co. now owns 12,666,082 shares of the real estate investment trust’s stock worth $2,799,458,000 after purchasing an additional 2,474,328 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of 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 in the last quarter. Invesco Ltd. boosted its position in shares of American Tower by 11.9% during the second quarter. Invesco Ltd. now owns 6,680,524 shares of the real estate investment trust’s stock valued at $1,476,529,000 after buying an additional 708,808 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of American Tower during the second quarter valued at $1,371,875,000. Institutional investors own 92.69% of the company’s stock.

American Tower Stock Down 0.4%

AMT opened at $180.95 on Monday. The firm’s 50 day simple moving average is $182.83 and its two-hundred day simple moving average is $200.34. The company has a market capitalization of $84.71 billion, a PE ratio of 28.91, a PEG ratio of 0.72 and a beta of 0.91. American Tower Corporation has a 1-year low of $172.51 and a 1-year high of $234.33. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 3.24.

American Tower (NYSE:AMT) last posted its quarterly earnings data on Tuesday, October 28th. The real estate investment trust reported $2.78 EPS for the quarter, topping the consensus estimate of $2.64 by $0.14. American Tower had a return on equity of 28.79% and a net margin of 28.11%.The firm had revenue of $2.72 billion during the quarter, compared to analyst estimates of $2.65 billion. During the same period in the prior year, the business posted $2.52 EPS. American Tower’s revenue was up 7.7% on a year-over-year basis. American Tower has set its FY 2025 guidance at 10.600-10.720 EPS. As a group, equities analysts forecast that American Tower Corporation will post 10.14 EPS for the current year.

American Tower Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 2nd. Stockholders of record on Monday, December 29th will be given a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date of this dividend is Monday, December 29th. American Tower’s payout ratio is presently 108.63%.

Insider Transactions at American Tower

In related news, major shareholder Tower Corp /Ma/ American sold 2,288,621 shares of the business’s stock in a transaction that occurred on Tuesday, December 9th. The stock was sold at an average price of $69.75, for a total transaction of $159,631,314.75. Following the completion of the transaction, the insider directly owned 211,379 shares in the company, valued at approximately $14,743,685.25. The trade was a 91.54% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Eugene F. Reilly bought 5,554 shares of American Tower stock in a transaction that occurred on Friday, October 31st. The stock was purchased at an average cost of $178.99 per share, with a total value of $994,110.46. Following the completion of the acquisition, 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 position. The SEC filing for this purchase provides additional information. 0.18% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on AMT. The Goldman Sachs Group decreased their target price on American Tower from $250.00 to $230.00 and set a “buy” rating for the company in a research report on Wednesday, October 29th. Citigroup reissued a “market outperform” rating on shares of American Tower in a report on Wednesday, October 29th. Weiss Ratings restated a “hold (c)” rating on shares of American Tower in a report on Monday, December 8th. Raymond James Financial reaffirmed a “strong-buy” rating and issued a $231.00 target price (down previously from $250.00) on shares of American Tower in a research report on Wednesday, October 29th. Finally, 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. Two analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $228.00.

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.