Nordea Investment Management AB Grows Stock Holdings in American Tower Corporation $AMT

Nordea Investment Management AB lifted its holdings in American Tower Corporation (NYSE:AMT) by 3.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,578,676 shares of the real estate investment trust’s stock after acquiring an additional 45,858 shares during the period. Nordea Investment Management AB owned approximately 0.34% of American Tower worth $303,753,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in AMT. Abound Wealth Management lifted its stake in shares of American Tower by 137.3% during the third quarter. Abound Wealth Management now owns 140 shares of the real estate investment trust’s stock worth $27,000 after purchasing an additional 81 shares in the last quarter. Legacy Investment Solutions LLC acquired a new position in American Tower during the 2nd quarter worth approximately $31,000. VSM Wealth Advisory LLC boosted its holdings in American Tower by 136.4% in the 2nd quarter. VSM Wealth Advisory LLC now owns 156 shares of the real estate investment trust’s stock worth $34,000 after acquiring an additional 90 shares during the period. Salomon & Ludwin LLC grew its position in American Tower by 147.9% in the third quarter. Salomon & Ludwin LLC now owns 181 shares of the real estate investment trust’s stock valued at $34,000 after acquiring an additional 108 shares in the last quarter. Finally, City Holding Co. purchased a new stake in shares of American Tower during the third quarter valued at approximately $35,000. 92.69% of the stock is owned by hedge funds and other institutional investors.

American Tower Stock Performance

Shares of AMT opened at $171.53 on Tuesday. The stock has a market capitalization of $80.30 billion, a PE ratio of 27.40, a price-to-earnings-growth ratio of 0.68 and a beta of 0.92. The business’s fifty day moving average price is $177.84 and its 200 day moving average price is $194.22. The company has a debt-to-equity ratio of 3.24, a current ratio of 0.89 and a quick ratio of 0.89. American Tower Corporation has a 12-month low of $166.88 and a 12-month high of $234.33.

American Tower (NYSE:AMT) last issued its earnings results on Tuesday, October 28th. The real estate investment trust reported $2.78 earnings per share for the quarter, topping analysts’ consensus estimates of $2.64 by $0.14. American Tower had a net margin of 28.11% and a return on equity of 28.79%. The company had revenue of $2.72 billion for the quarter, compared to analysts’ expectations of $2.65 billion. During the same period in the prior year, the company earned $2.52 earnings per share. The firm’s revenue was up 7.7% compared to the same quarter last year. American Tower has set its FY 2025 guidance at 10.600-10.720 EPS. Equities research analysts forecast that American Tower Corporation will post 10.14 EPS for the current year.

American Tower Announces Dividend

The business 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. The ex-dividend date of this dividend is Monday, December 29th. This represents a $6.80 annualized dividend and a dividend yield of 4.0%. American Tower’s dividend payout ratio is 108.63%.

Wall Street Analyst Weigh In

AMT has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. lowered their price target on shares of American Tower from $250.00 to $245.00 and set an “overweight” rating for the company in a report on Monday. Morgan Stanley dropped their target price 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. Citigroup reissued a “market outperform” rating on shares of American Tower in a report on Wednesday, October 29th. HSBC dropped their price objective on American Tower from $235.00 to $205.00 in a report on Wednesday, October 29th. Finally, New Street Research upgraded American Tower from a “neutral” rating to a “buy” rating and set a $203.00 target price for the company in a research note on Monday, January 5th. Two equities research 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 company. Based on data from MarketBeat, American Tower presently has a consensus rating of “Moderate Buy” and a consensus target price of $223.05.

Insider Buying and Selling

In related news, Director Eugene F. Reilly purchased 5,554 shares of the business’s stock in a transaction that occurred 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 acquisition, the director owned 5,689 shares in the company, valued at approximately $1,018,274.11. This trade represents a 4,114.07% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Tower Corp /Ma/ American sold 2,288,621 shares of the business’s stock in a transaction that occurred on Tuesday, December 9th. The shares were sold at an average price of $69.75, for a total value of $159,631,314.75. Following the transaction, the insider owned 211,379 shares of the company’s stock, valued at $14,743,685.25. This represents a 91.54% decrease in their position. The SEC filing for this sale provides additional information. 0.18% of the stock is currently owned by corporate 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.