Fjarde AP Fonden Fourth Swedish National Pension Fund Boosts Stake in American Tower Corporation $AMT

Fjarde AP Fonden Fourth Swedish National Pension Fund raised its position in American Tower Corporation (NYSE:AMT) by 19.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 75,484 shares of the real estate investment trust’s stock after purchasing an additional 12,200 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in American Tower were worth $16,683,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in AMT. North Capital Inc. bought a new position in American Tower in the 1st quarter worth about $25,000. Hopwood Financial Services Inc. grew its stake in 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 worth $26,000 after acquiring an additional 60 shares in the last quarter. Rosenberg Matthew Hamilton grew its stake in American Tower by 86.0% in the 2nd quarter. Rosenberg Matthew Hamilton now owns 173 shares of the real estate investment trust’s stock worth $38,000 after acquiring an additional 80 shares in the last quarter. Saudi Central Bank bought a new position in American Tower in the 1st quarter worth about $40,000. Finally, Accredited Wealth Management LLC grew its stake in American Tower by 180.0% in the 1st quarter. Accredited Wealth Management LLC now owns 210 shares of the real estate investment trust’s stock worth $46,000 after acquiring an additional 135 shares in the last quarter. 92.69% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Royal Bank Of Canada set a $220.00 target price on shares of American Tower and gave the stock a “sector perform” rating in a research note on Wednesday, October 1st. The Goldman Sachs Group reiterated a “buy” rating on shares of American Tower in a research note on Tuesday, July 29th. HSBC downgraded shares of American Tower from a “buy” rating to a “hold” rating and set a $235.00 price objective on the stock. in a research note on Wednesday, July 30th. Morgan Stanley dropped their price objective on shares of American Tower from $270.00 to $235.00 and set an “overweight” rating on the stock in a research note on Thursday, October 16th. Finally, Wells Fargo & Company dropped their price objective on shares of American Tower from $230.00 to $210.00 and set an “overweight” rating on the stock in a research note on Monday, October 20th. Two analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, American Tower has an average rating of “Moderate Buy” and an average target price of $236.75.

Insiders Place Their Bets

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 value 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 Securities & Exchange Commission, which is available at the SEC website. 0.18% of the stock is currently owned by company insiders.

American Tower Price Performance

NYSE AMT opened at $182.90 on Wednesday. The company has a market cap of $85.64 billion, a PE ratio of 66.51, a P/E/G ratio of 1.15 and a beta of 0.86. 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 firm’s 50 day moving average price is $194.56 and its 200-day moving average price is $208.76.

American Tower (NYSE:AMT) last announced its earnings results on Tuesday, October 28th. The real estate investment trust reported $2.78 earnings per share for the quarter, beating the consensus estimate of $2.64 by $0.14. The company had revenue of $2.72 billion during the quarter, compared to the consensus estimate of $2.65 billion. American Tower had a net margin of 12.60% and a return on equity of 24.85%. American Tower’s revenue was up 7.7% compared to the same quarter last year. During the same period last year, the firm earned $2.52 earnings per share. American Tower has set its FY 2025 guidance at 10.600-10.720 EPS. Sell-side analysts forecast that American Tower Corporation will post 10.14 EPS 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 paid 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 dividend payout ratio (DPR) is 247.27%.

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.