Cbre Investment Management Listed Real Assets LLC Purchases 191,153 Shares of American Tower Corporation $AMT

Cbre Investment Management Listed Real Assets LLC grew its position in American Tower Corporation (NYSE:AMT) by 31.5% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 798,849 shares of the real estate investment trust’s stock after acquiring an additional 191,153 shares during the period. American Tower comprises approximately 2.7% of Cbre Investment Management Listed Real Assets LLC’s investment portfolio, making the stock its 8th biggest position. Cbre Investment Management Listed Real Assets LLC’s holdings in American Tower were worth $176,562,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the company. Focus Financial Network Inc. grew its holdings in American Tower by 9.1% in the second 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 American Tower in the 1st quarter valued at $72,706,000. Stack Financial Management Inc purchased a new stake in American Tower in the 2nd quarter worth $13,020,000. Kovitz Investment Group Partners LLC raised its position in American Tower by 126.0% during the first quarter. Kovitz Investment Group Partners LLC now owns 97,495 shares of the real estate investment trust’s stock worth $21,215,000 after acquiring an additional 54,360 shares during the period. Finally, Nordea Investment Management AB grew its position in shares of American Tower by 1.0% in the second quarter. Nordea Investment Management AB now owns 1,532,818 shares of the real estate investment trust’s stock valued at $334,430,000 after purchasing an additional 15,920 shares during the period. 92.69% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms recently weighed in on AMT. Wall Street Zen upgraded shares of American Tower from a “sell” rating to a “hold” rating in a research report on Sunday, October 12th. Raymond James Financial reiterated a “strong-buy” rating and set a $231.00 price objective (down from $250.00) on shares of American Tower in a research note on Wednesday, October 29th. JPMorgan Chase & Co. decreased their target price on American Tower from $255.00 to $250.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 29th. Jefferies Financial Group lowered their price target on American Tower from $281.00 to $226.00 and set a “buy” rating on the stock in a research note on Monday, October 13th. Finally, Royal Bank Of Canada set a $220.00 price objective on American Tower and gave the company a “sector perform” rating in a research note on Wednesday, October 1st. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $231.11.

American Tower Trading Down 0.8%

Shares of American Tower stock opened at $177.95 on Friday. 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 3.24, a current ratio of 0.89 and a quick ratio of 0.95. The stock has a market cap of $83.32 billion, a P/E ratio of 28.43, a P/E/G ratio of 1.08 and a beta of 0.85. The stock’s 50 day simple moving average is $190.49 and its 200-day simple moving average is $206.89.

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

American Tower Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, October 20th. Investors of record on Tuesday, September 30th were given a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a yield of 3.8%. The ex-dividend date was Tuesday, September 30th. American Tower’s dividend payout ratio (DPR) is presently 108.63%.

Insider Buying and Selling

In other news, Director Eugene F. Reilly bought 5,554 shares of American Tower stock in a transaction on Friday, October 31st. The shares were bought at an average cost of $178.99 per share, with a total value of $994,110.46. Following the completion of the purchase, the director directly owned 5,689 shares of the company’s stock, valued at approximately $1,018,274.11. This trade represents a 4,114.07% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.17% of the stock is owned by company insiders.

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.