UniSuper Management Pty Ltd Has $92.96 Million Holdings in American Tower Corporation $AMT

UniSuper Management Pty Ltd lifted its holdings in American Tower Corporation (NYSE:AMT) by 20.3% during the 3rd quarter, HoldingsChannel reports. The fund owned 483,349 shares of the real estate investment trust’s stock after acquiring an additional 81,698 shares during the quarter. American Tower accounts for approximately 0.6% of UniSuper Management Pty Ltd’s holdings, making the stock its 29th largest position. UniSuper Management Pty Ltd’s holdings in American Tower were worth $92,958,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Eastern Bank raised its holdings in American Tower by 69.6% in the 3rd quarter. Eastern Bank now owns 139,091 shares of the real estate investment trust’s stock valued at $26,750,000 after buying an additional 57,078 shares during the last quarter. Stack Financial Management Inc acquired a new position in shares of American Tower during the second quarter worth $13,020,000. Los Angeles Capital Management LLC grew its stake in shares of American Tower by 52.5% in the second quarter. Los Angeles Capital Management LLC now owns 321,661 shares of the real estate investment trust’s stock worth $71,094,000 after purchasing an additional 110,671 shares during the last quarter. First Trust Advisors LP increased its holdings in American Tower by 47.3% in the second quarter. First Trust Advisors LP now owns 109,124 shares of the real estate investment trust’s stock valued at $24,119,000 after purchasing an additional 35,037 shares during the period. Finally, Nordea Investment Management AB raised its position in American Tower by 1.0% during the 2nd quarter. Nordea Investment Management AB now owns 1,532,818 shares of the real estate investment trust’s stock worth $334,430,000 after purchasing an additional 15,920 shares during the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

American Tower Stock Performance

AMT opened at $178.68 on Friday. The company has a market cap of $83.65 billion, a price-to-earnings ratio of 28.54, a PEG ratio of 0.73 and a beta of 0.92. The company’s fifty day moving average price is $177.51 and its two-hundred day moving average price is $191.96. American Tower Corporation has a 1-year low of $166.88 and a 1-year high of $234.33. 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 (NYSE:AMT) last released its quarterly earnings results on Tuesday, October 28th. The real estate investment trust reported $2.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.64 by $0.14. American Tower had a return on equity of 28.79% and a net margin of 28.11%.The business had revenue of $2.72 billion during the quarter, compared to the consensus estimate of $2.65 billion. During the same quarter in the previous year, the business earned $2.52 EPS. The company’s quarterly revenue was up 7.7% on a year-over-year basis. American Tower has set its FY 2025 guidance at 10.600-10.720 EPS. On average, analysts expect that American Tower Corporation will post 10.14 EPS for the current fiscal year.

American Tower Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 2nd. Shareholders of record on Monday, December 29th will be paid a dividend of $1.70 per share. The ex-dividend date is Monday, December 29th. This represents a $6.80 annualized dividend and a yield of 3.8%. American Tower’s dividend payout ratio (DPR) is 108.63%.

Analyst Ratings Changes

A number of research firms have commented on AMT. Morgan Stanley reduced their price target on American Tower from $255.00 to $235.00 and set an “overweight” rating on the stock in a research report on Thursday, December 4th. New Street Research raised shares of American Tower from a “neutral” rating to a “buy” rating and set a $203.00 target price for the company in a research report on Monday, January 5th. Royal Bank Of Canada dropped their price target on shares of American Tower from $220.00 to $195.00 and set a “sector perform” rating on the stock in a research report on Monday, January 12th. JPMorgan Chase & Co. decreased their price objective on shares of American Tower from $250.00 to $245.00 and set an “overweight” rating for the company in a research report on Monday, January 12th. Finally, UBS Group lowered their target price on shares of American Tower from $260.00 to $254.00 and set a “buy” rating for the company in a research note on Tuesday. Two analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $218.89.

Insider Transactions at American Tower

In related news, major shareholder Tower Corp /Ma/ American sold 2,288,621 shares of American Tower stock in a transaction on Tuesday, December 9th. The stock was sold at an average price of $69.75, for a total transaction of $159,631,314.75. Following 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 legal filing with the SEC, which can be accessed through this link. Also, Director Eugene F. Reilly acquired 5,554 shares of the business’s stock in a transaction on Friday, October 31st. The stock was acquired at an average cost of $178.99 per share, for a total transaction of $994,110.46. Following the transaction, the director owned 5,689 shares of the company’s stock, valued at approximately $1,018,274.11. The trade was a 4,114.07% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 0.17% of the stock is owned by company insiders.

About American Tower

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.