Massachusetts Financial Services Co. MA Grows Stake in American Tower Corporation $AMT

Massachusetts Financial Services Co. MA lifted its stake in American Tower Corporation (NYSE:AMT) by 13.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,605,059 shares of the real estate investment trust’s stock after buying an additional 434,537 shares during the period. Massachusetts Financial Services Co. MA’s holdings in American Tower were worth $796,790,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Hopwood Financial Services Inc. grew its stake in 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 valued at $26,000 after purchasing an additional 60 shares in the last quarter. Legacy Investment Solutions LLC acquired a new position in American Tower during the 2nd quarter worth $31,000. Rosenberg Matthew Hamilton increased its position in shares of American Tower by 86.0% in the 2nd quarter. Rosenberg Matthew Hamilton now owns 173 shares of the real estate investment trust’s stock worth $38,000 after purchasing an additional 80 shares during the last quarter. Saudi Central Bank acquired a new stake in shares of American Tower in the 1st quarter valued at about $40,000. Finally, Accredited Wealth Management LLC lifted its position in shares of American Tower by 180.0% during the first quarter. Accredited Wealth Management LLC now owns 210 shares of the real estate investment trust’s stock worth $46,000 after purchasing an additional 135 shares during the last quarter. Hedge funds and other institutional investors own 92.69% of the company’s stock.

American Tower Trading Up 1.4%

Shares of NYSE:AMT opened at $183.58 on Friday. The company has a quick ratio of 0.95, a current ratio of 0.89 and a debt-to-equity ratio of 3.24. The company’s 50-day moving average price is $188.36 and its 200 day moving average price is $205.54. The company has a market cap of $85.94 billion, a PE ratio of 29.33, a P/E/G ratio of 1.08 and a beta of 0.85. American Tower Corporation has a fifty-two week low of $172.51 and a fifty-two week high of $234.33.

American Tower (NYSE:AMT) last issued its quarterly earnings data on Tuesday, October 28th. The real estate investment trust reported $2.78 earnings per share (EPS) for the quarter, topping the consensus estimate 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 return on equity of 28.79% and a net margin of 28.11%.The business’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 earnings per share. American Tower has set its FY 2025 guidance at 10.600-10.720 EPS. Sell-side analysts anticipate that American Tower Corporation will post 10.14 earnings per share for the current year.

American Tower Dividend Announcement

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

Wall Street Analyst Weigh In

AMT has been the topic of several research reports. Raymond James Financial restated a “strong-buy” rating and set a $231.00 price objective (down previously from $250.00) on shares of American Tower in a research note on Wednesday, October 29th. TD Cowen dropped their price target on American Tower from $249.00 to $235.00 and set a “buy” rating on the stock in a research report on Wednesday, October 29th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of American Tower in a report on Thursday. Citigroup reiterated a “market outperform” rating on shares of American Tower in a research note on Wednesday, October 29th. Finally, HSBC reduced their price target on shares of American Tower from $235.00 to $205.00 in a research report on Wednesday, October 29th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $231.11.

Insider Activity

In related news, Director Eugene F. Reilly acquired 5,554 shares of the stock in a transaction that occurred on Friday, October 31st. The shares were acquired at an average price of $178.99 per share, for a total transaction of $994,110.46. Following the completion of the purchase, the director directly 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 ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.17% of the stock is owned by company insiders.

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.