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

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

A number of other hedge funds and other institutional investors have also made changes to their positions in AMT. North Capital Inc. purchased a new position in shares of American Tower in the first quarter worth $25,000. Hopwood Financial Services Inc. raised its holdings in shares of American Tower by 100.0% in the first quarter. Hopwood Financial Services Inc. now owns 120 shares of the real estate investment trust’s stock worth $26,000 after buying an additional 60 shares during the last quarter. Rosenberg Matthew Hamilton raised its holdings in shares of American Tower by 86.0% in the second quarter. Rosenberg Matthew Hamilton now owns 173 shares of the real estate investment trust’s stock worth $38,000 after buying an additional 80 shares during the last quarter. Saudi Central Bank purchased a new position in shares of American Tower in the first quarter worth $40,000. Finally, Accredited Wealth Management LLC raised its holdings in shares of American Tower by 180.0% in the first quarter. Accredited Wealth Management LLC now owns 210 shares of the real estate investment trust’s stock worth $46,000 after buying an additional 135 shares during the last quarter. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Insider Activity

In other news, CEO Juan Font sold 720 shares of American Tower stock in a transaction dated Thursday, July 31st. The shares were 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 $4,880,130.25. This trade represents a 2.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.18% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on AMT. Morgan Stanley reduced their target price on shares of American Tower from $270.00 to $235.00 and set an “overweight” rating for the company in a report on Thursday, October 16th. BMO Capital Markets reduced their target price on shares of American Tower from $245.00 to $220.00 and set an “outperform” rating for the company in a report on Friday, October 17th. Weiss Ratings reissued a “hold (c-)” rating on shares of American Tower in a report on Wednesday, October 8th. Raymond James Financial set a $250.00 target price on shares of American Tower and gave the stock a “strong-buy” rating in a report on Wednesday, July 30th. Finally, Jefferies Financial Group reduced their target price on shares of American Tower from $281.00 to $226.00 and set a “buy” rating for the company in a report on Monday, October 13th. Two research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $236.75.

American Tower Stock Down 3.6%

AMT stock opened at $182.90 on Wednesday. The firm 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. 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 fifty day moving average is $194.56 and its 200 day moving average is $208.76. American Tower Corporation has a one year low of $172.51 and a one year high of $234.33.

American Tower (NYSE:AMT) last released its quarterly earnings results on Tuesday, October 28th. The real estate investment trust reported $2.78 EPS for the quarter, beating the consensus estimate of $2.64 by $0.14. The company had revenue of $2.72 billion for the quarter, compared to analyst estimates of $2.65 billion. American Tower had a net margin of 12.60% and a return on equity of 24.85%. The firm’s revenue was up 7.7% on a year-over-year basis. During the same quarter last year, the business earned $2.52 earnings per share. American Tower has set its FY 2025 guidance at 10.600-10.720 EPS. On average, research analysts forecast that American Tower Corporation will post 10.14 EPS for the current year.

American Tower Announces Dividend

The company also recently declared 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 3.7%. The ex-dividend date was Tuesday, September 30th. American Tower’s dividend payout ratio (DPR) is currently 247.27%.

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.