Aberdeen Group plc Acquires 26,220 Shares of American Tower Corporation $AMT

Aberdeen Group plc increased its holdings in American Tower Corporation (NYSE:AMT) by 3.9% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 699,188 shares of the real estate investment trust’s stock after buying an additional 26,220 shares during the period. Aberdeen Group plc’s holdings in American Tower were worth $152,364,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently modified their holdings of AMT. Brighton Jones LLC grew its holdings in shares of American Tower by 113.0% in the fourth quarter. Brighton Jones LLC now owns 3,966 shares of the real estate investment trust’s stock valued at $727,000 after acquiring an additional 2,104 shares in the last quarter. Farther Finance Advisors LLC grew its holdings in shares of American Tower by 43.2% in the first quarter. Farther Finance Advisors LLC now owns 3,233 shares of the real estate investment trust’s stock valued at $710,000 after acquiring an additional 975 shares in the last quarter. Wealthcare Advisory Partners LLC grew its holdings in shares of American Tower by 5.1% in the first quarter. Wealthcare Advisory Partners LLC now owns 2,932 shares of the real estate investment trust’s stock valued at $638,000 after acquiring an additional 143 shares in the last quarter. GAMMA Investing LLC lifted its stake in American Tower by 9.0% in the first quarter. GAMMA Investing LLC now owns 7,821 shares of the real estate investment trust’s stock valued at $1,702,000 after purchasing an additional 648 shares during the last quarter. Finally, Assenagon Asset Management S.A. lifted its stake in American Tower by 1.9% in the first quarter. Assenagon Asset Management S.A. now owns 17,433 shares of the real estate investment trust’s stock valued at $3,793,000 after purchasing an additional 326 shares during the last quarter. 92.69% of the stock is owned by institutional investors.

American Tower Trading Up 0.7%

NYSE:AMT opened at $186.60 on Friday. The company has a market cap of $87.38 billion, a P/E ratio of 67.85, a P/E/G ratio of 1.12 and a beta of 0.86. The stock’s fifty day moving average price is $198.75 and its two-hundred day moving average price is $210.81. 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 3.36, a current ratio of 0.95 and a quick ratio of 0.95.

American Tower (NYSE:AMT) last posted its earnings results 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. The firm had revenue of $2.63 billion for the quarter, compared to the consensus estimate of $2.58 billion. American Tower had a return on equity of 24.85% and a net margin of 12.60%.The business’s quarterly revenue was down 9.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.79 earnings per share. American Tower has set its FY 2025 guidance at 10.460-10.650 EPS. As a group, analysts expect that American Tower Corporation will post 10.14 EPS for the current year.

American Tower Announces Dividend

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

Insider Activity

In related news, CEO Juan Font sold 720 shares of the stock in a transaction on Thursday, July 31st. The stock was sold at an average price of $208.33, for a total value of $149,997.60. Following the sale, the chief executive officer owned 23,425 shares in the company, valued at approximately $4,880,130.25. This trade represents a 2.98% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.17% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on the company. Weiss Ratings reiterated a “hold (c-)” rating on shares of American Tower in a research note on Wednesday. The Goldman Sachs Group reiterated a “buy” rating on shares of American Tower in a research note on Tuesday, July 29th. Hsbc Global Res downgraded American Tower from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 30th. Barclays upped their price objective on American Tower from $246.00 to $250.00 and gave the company an “overweight” rating in a research note on Monday, August 18th. Finally, UBS Group upped their price objective 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 equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price 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.