Pacer Advisors Inc. Buys 33,182 Shares of American Tower Corporation $AMT

Pacer Advisors Inc. boosted its position in shares of American Tower Corporation (NYSE:AMT) by 9.6% during the 3rd quarter, HoldingsChannel reports. The fund owned 377,243 shares of the real estate investment trust’s stock after buying an additional 33,182 shares during the quarter. Pacer Advisors Inc.’s holdings in American Tower were worth $72,551,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in AMT. Vanguard Group Inc. grew its holdings in shares of American Tower by 0.3% during the 2nd quarter. Vanguard Group Inc. now owns 63,028,367 shares of the real estate investment trust’s stock worth $13,930,530,000 after purchasing an additional 218,881 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of American Tower by 24.3% in the second quarter. JPMorgan Chase & Co. now owns 12,666,082 shares of the real estate investment trust’s stock valued at $2,799,458,000 after purchasing an additional 2,474,328 shares in the last quarter. Invesco Ltd. lifted its position in American Tower by 11.9% in the second quarter. Invesco Ltd. now owns 6,680,524 shares of the real estate investment trust’s stock worth $1,476,529,000 after purchasing an additional 708,808 shares during the period. Norges Bank acquired a new stake in American Tower during the second quarter worth $1,371,875,000. Finally, Charles Schwab Investment Management Inc. boosted its stake in American Tower by 3.9% during the second quarter. Charles Schwab Investment Management Inc. now owns 5,563,565 shares of the real estate investment trust’s stock worth $1,229,659,000 after buying an additional 208,213 shares in the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

Insiders Place Their Bets

In other news, major shareholder Tower Corp /Ma/ American sold 2,288,621 shares of the firm’s stock in a transaction on Tuesday, December 9th. The stock was sold at an average price of $69.75, for a total value of $159,631,314.75. Following the completion of the sale, the insider directly owned 211,379 shares in the company, valued at approximately $14,743,685.25. This trade represents a 91.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Eugene F. Reilly purchased 5,554 shares of the business’s stock in a transaction that occurred on Friday, October 31st. The stock was acquired at an average cost of $178.99 per share, with a total value of $994,110.46. Following the completion of the acquisition, 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 SEC filing for this purchase provides additional information. Company insiders own 0.17% of the company’s stock.

American Tower Price Performance

Shares of American Tower stock opened at $174.80 on Friday. The stock has a market capitalization of $81.83 billion, a price-to-earnings ratio of 27.92, a P/E/G ratio of 0.70 and a beta of 0.91. The firm’s 50-day moving average price is $180.84 and its two-hundred day moving average price is $198.12. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 3.24. American Tower Corporation has a 1-year low of $170.77 and a 1-year high of $234.33.

American Tower (NYSE:AMT) last announced its earnings results on Tuesday, October 28th. The real estate investment trust reported $2.78 EPS for the quarter, topping the consensus estimate of $2.64 by $0.14. The business 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%.American Tower’s revenue was up 7.7% compared to the same quarter last year. During the same period in the previous year, the business earned $2.52 EPS. American Tower has set its FY 2025 guidance at 10.600-10.720 EPS. On average, equities analysts predict that American Tower Corporation will post 10.14 earnings per share for the current fiscal year.

American Tower Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 2nd. Stockholders of record on Monday, December 29th will be issued a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a dividend yield of 3.9%. The ex-dividend date is Monday, December 29th. American Tower’s dividend payout ratio is presently 108.63%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on AMT. Wells Fargo & Company dropped their price objective on shares of American Tower from $210.00 to $200.00 and set an “overweight” rating for the company in a research note on Wednesday, October 29th. Wall Street Zen raised shares of American Tower from a “sell” rating to a “hold” rating in a research note on Sunday, October 12th. Barclays restated an “equal weight” rating and set a $200.00 price target (down previously from $203.00) on shares of American Tower in a research note on Monday, December 1st. Morgan Stanley lowered their price objective on American Tower from $255.00 to $235.00 and set an “overweight” rating on the stock in a research note on Thursday, December 4th. Finally, Royal Bank Of Canada reissued a “sector perform” rating and issued a $220.00 target price on shares of American Tower in a report on Friday, December 19th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat, American Tower has a consensus rating of “Moderate Buy” and an average target price of $226.67.

American Tower Company Profile

American Tower (NYSE: AMT) is a real estate investment trust (REIT) that owns, operates and develops wireless and broadcast communications infrastructure. The company’s core business is leasing space on communications sites — including towers, rooftops and other structures — to wireless carriers, broadcasters, government agencies and enterprise customers. Its business model centers on long-term site leases and contracts that provide recurring revenue tied to the footprint and density of wireless networks.

Beyond traditional tower assets, American Tower offers a range of infrastructure and network services to support mobile, broadband and broadcast connectivity.