Osaic Holdings Inc. Has $16.23 Million Stock Position in American Tower Corporation $AMT
by Doug Wharley · The Cerbat GemOsaic Holdings Inc. raised its position in shares of American Tower Corporation (NYSE:AMT – Free Report) by 30.7% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 73,591 shares of the real estate investment trust’s stock after acquiring an additional 17,281 shares during the period. Osaic Holdings Inc.’s holdings in American Tower were worth $16,225,000 as of its most recent SEC filing.
Several other hedge funds also recently modified their holdings of the business. Legacy Investment Solutions LLC acquired a new stake in American Tower in the 2nd quarter worth $31,000. VSM Wealth Advisory LLC raised its position in shares of American Tower by 136.4% during the second quarter. VSM Wealth Advisory LLC now owns 156 shares of the real estate investment trust’s stock valued at $34,000 after buying an additional 90 shares during the last quarter. Rosenberg Matthew Hamilton raised its position in shares of American Tower by 86.0% during the second quarter. Rosenberg Matthew Hamilton now owns 173 shares of the real estate investment trust’s stock valued at $38,000 after buying an additional 80 shares during the last quarter. Saudi Central Bank bought a new stake in shares of American Tower in the first quarter valued at about $40,000. Finally, Winnow Wealth LLC acquired a new stake in American Tower during the second quarter worth about $44,000. 92.69% of the stock is owned by institutional investors.
American Tower Trading Down 2.4%
Shares of American Tower stock opened at $174.28 on Friday. American Tower Corporation has a 12-month low of $172.51 and a 12-month high of $234.33. The stock has a market capitalization of $81.59 billion, a P/E ratio of 27.84, a price-to-earnings-growth ratio of 0.71 and a beta of 0.91. The company has a 50-day simple moving average of $182.21 and a 200 day simple moving average of $199.53. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 3.24.
American Tower (NYSE:AMT – Get Free Report) last issued its quarterly earnings data on Tuesday, October 28th. The real estate investment trust reported $2.78 earnings per share for the quarter, topping the consensus estimate of $2.64 by $0.14. American Tower had a net margin of 28.11% and a return on equity of 28.79%. The firm 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 firm earned $2.52 earnings per share. The company’s quarterly 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. Research analysts expect that American Tower Corporation will post 10.14 earnings per share for the current fiscal year.
American Tower Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 2nd. Shareholders of record on Monday, December 29th will be given a $1.70 dividend. The ex-dividend date is Monday, December 29th. This represents a $6.80 annualized dividend and a yield of 3.9%. American Tower’s payout ratio is presently 108.63%.
Analysts Set New Price Targets
AMT has been the topic of a number of research reports. UBS Group restated a “buy” rating on shares of American Tower in a research report on Wednesday, December 10th. Wells Fargo & Company lowered their price target on shares of American Tower from $210.00 to $200.00 and set an “overweight” rating on the stock in a report on Wednesday, October 29th. Argus set a $210.00 price objective on shares of American Tower in a research note on Thursday, October 30th. The Goldman Sachs Group decreased their target price on shares of American Tower from $250.00 to $230.00 and set a “buy” rating on the stock in a research report on Wednesday, October 29th. Finally, Royal Bank Of Canada set a $220.00 price target on shares of American Tower and gave the stock a “sector perform” rating in a research report on Wednesday, October 1st. Two research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $226.67.
View Our Latest Stock Analysis on AMT
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 American Tower stock in a transaction that occurred on Friday, October 31st. The shares were bought at an average price of $178.99 per share, for a total transaction of $994,110.46. Following the transaction, the director owned 5,689 shares in the company, valued at $1,018,274.11. This represents a 4,114.07% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 0.17% of the stock is currently owned by insiders.
About American Tower
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.
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