Forsta AP Fonden Has $30.72 Million Stock Position in American Tower Corporation $AMT

Forsta AP Fonden cut its holdings in American Tower Corporation (NYSE:AMT) by 3.5% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 139,000 shares of the real estate investment trust’s stock after selling 5,100 shares during the quarter. Forsta AP Fonden’s holdings in American Tower were worth $30,722,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Blossom Wealth Management boosted its stake in shares of American Tower by 1.8% in the 2nd quarter. Blossom Wealth Management now owns 2,601 shares of the real estate investment trust’s stock valued at $575,000 after purchasing an additional 45 shares in the last quarter. TFG Advisers LLC lifted its stake in American Tower by 0.3% in the 2nd quarter. TFG Advisers LLC now owns 16,186 shares of the real estate investment trust’s stock valued at $3,578,000 after purchasing an additional 47 shares during the last quarter. Novem Group boosted its position in American Tower by 3.8% in the second quarter. Novem Group now owns 1,316 shares of the real estate investment trust’s stock valued at $291,000 after buying an additional 48 shares in the last quarter. Analyst IMS Investment Management Services Ltd. grew its stake in shares of American Tower by 3.6% during the second quarter. Analyst IMS Investment Management Services Ltd. now owns 1,370 shares of the real estate investment trust’s stock worth $303,000 after buying an additional 48 shares during the last quarter. Finally, Marion Wealth Management increased its holdings in shares of American Tower by 0.8% during the second quarter. Marion Wealth Management now owns 5,924 shares of the real estate investment trust’s stock worth $1,309,000 after buying an additional 48 shares in the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

Insider Buying and Selling

In other news, Director Eugene F. Reilly purchased 5,554 shares of the business’s stock in a transaction on Friday, October 31st. The shares were acquired at an average price of $178.99 per share, with a total value of $994,110.46. Following the completion of the transaction, the director owned 5,689 shares of the company’s stock, valued at $1,018,274.11. The trade was a 4,114.07% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.17% of the company’s stock.

American Tower Price Performance

American Tower stock opened at $184.88 on Wednesday. The stock’s 50 day moving average is $189.19 and its 200 day moving average is $206.06. American Tower Corporation has a one year low of $172.51 and a one year high of $234.33. The firm has a market cap of $86.57 billion, a P/E ratio of 29.53, a P/E/G ratio of 1.08 and a beta of 0.85. The company has a debt-to-equity ratio of 3.24, a current ratio of 0.89 and a quick ratio of 0.95.

American Tower (NYSE:AMT) last released its earnings results on Tuesday, October 28th. The real estate investment trust reported $2.78 earnings per share for the quarter, beating analysts’ consensus estimates of $2.64 by $0.14. The business 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 28.11% and a return on equity of 28.79%. The company’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.52 EPS. American Tower has set its FY 2025 guidance at 10.600-10.720 EPS. As a group, research analysts expect that American Tower Corporation will post 10.14 EPS for the current year.

American Tower Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, October 20th. Investors of record on Tuesday, September 30th were paid a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date of this dividend was Tuesday, September 30th. American Tower’s dividend payout ratio (DPR) is currently 108.63%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on AMT. Morgan Stanley cut their price objective on American Tower from $270.00 to $235.00 and set an “overweight” rating on the stock in a report on Thursday, October 16th. The Goldman Sachs Group reduced their price target on American Tower from $250.00 to $230.00 and set a “buy” rating on the stock in a report on Wednesday, October 29th. Hsbc Global Res downgraded American Tower from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 30th. Wells Fargo & Company cut their target price on shares of American Tower from $210.00 to $200.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 29th. Finally, Citigroup reissued a “market outperform” rating on shares of American Tower in a report on Wednesday, October 29th. Two analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $231.11.

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.