Aviva PLC Has $99.37 Million Stock Holdings in American Tower Corporation $AMT

Aviva PLC lowered its position in shares of American Tower Corporation (NYSE:AMT) by 10.3% in the second quarter, Holdings Channel reports. The institutional investor owned 449,615 shares of the real estate investment trust’s stock after selling 51,539 shares during the period. Aviva PLC’s holdings in American Tower were worth $99,374,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of the business. Hopwood Financial Services Inc. grew its position in shares of American Tower by 100.0% during the 1st quarter. Hopwood Financial Services Inc. now owns 120 shares of the real estate investment trust’s stock worth $26,000 after purchasing an additional 60 shares in the last quarter. Legacy Investment Solutions LLC bought a new stake in shares of American Tower in the second quarter valued at approximately $31,000. Rosenberg Matthew Hamilton grew its position in American Tower by 86.0% during 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 in the last quarter. Saudi Central Bank bought a new position in American Tower during the 1st quarter worth $40,000. Finally, Accredited Wealth Management LLC increased its stake in American Tower by 180.0% during 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 during the period. 92.69% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. Raymond James Financial reissued a “strong-buy” rating and set a $231.00 target price (down from $250.00) on shares of American Tower in a report on Wednesday, October 29th. BMO Capital Markets cut their price objective on shares of American Tower from $220.00 to $215.00 and set an “outperform” rating for the company in a research report on Wednesday, October 29th. Argus set a $210.00 price objective on shares of American Tower in a research note on Thursday, October 30th. Barclays boosted their target price on shares of American Tower from $250.00 to $251.00 and gave the company an “overweight” rating in a research report on Friday, October 17th. Finally, The Goldman Sachs Group reduced their price target on shares of American Tower from $250.00 to $230.00 and set a “buy” rating on the stock in a research report on Wednesday, October 29th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, American Tower currently has a consensus rating of “Moderate Buy” and an average price target of $231.11.

Insider Buying and Selling

In other news, Director Eugene F. Reilly purchased 5,554 shares of the business’s stock in a transaction dated Friday, October 31st. The shares were purchased 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 owned 5,689 shares of the company’s stock, valued at $1,018,274.11. This trade represents a 4,114.07% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 0.17% of the company’s stock.

American Tower Stock Down 0.1%

AMT stock opened at $177.86 on Friday. The firm has a 50-day moving average price of $189.98 and a 200-day moving average price of $206.61. American Tower Corporation has a 12 month low of $172.51 and a 12 month high of $234.33. The company has a current ratio of 0.89, a quick ratio of 0.95 and a debt-to-equity ratio of 3.24. The stock has a market capitalization of $83.28 billion, a P/E ratio of 28.41, a price-to-earnings-growth ratio of 1.08 and a beta of 0.85.

American Tower (NYSE:AMT) last announced its quarterly earnings results on Tuesday, October 28th. The real estate investment trust reported $2.78 earnings per share (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 28.11% and a return on equity of 28.79%. The firm’s revenue was up 7.7% on a year-over-year basis. During the same period in the previous year, the firm posted $2.52 EPS. American Tower has set its FY 2025 guidance at 10.600-10.720 EPS. As a group, equities research analysts anticipate 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 issued a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date of this dividend was Tuesday, September 30th. American Tower’s dividend payout ratio is presently 108.63%.

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.