Intech Investment Management LLC grew its stake in shares of American Tower Corporation (NYSE:AMT – Free Report) by 1,406.7% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 289,566 shares of the real estate investment trust’s stock after acquiring an additional 270,347 shares during the quarter. Intech Investment Management LLC’s holdings in American Tower were worth $50,839,000 as of its most recent SEC filing.
A number of other institutional investors have also recently modified their holdings of the stock. Richards Merrill & Peterson Inc. bought a new stake in shares of American Tower during the 4th quarter worth $25,000. Oakworth Capital Inc. lifted its position in shares of American Tower by 90.7% during the 4th quarter. Oakworth Capital Inc. now owns 143 shares of the real estate investment trust’s stock worth $25,000 after buying an additional 68 shares during the last quarter. Holos Integrated Wealth LLC bought a new stake in shares of American Tower during the 4th quarter worth $27,000. Triumph Capital Management acquired a new position in American Tower in the 3rd quarter worth about $29,000. Finally, Lloyd Advisory Services LLC. acquired a new position in American Tower in the 4th quarter worth about $30,000. 92.69% of the stock is currently owned by institutional investors.
Insiders Place Their Bets
In other American Tower news, EVP Ruth T. Dowling sold 556 shares of the stock in a transaction that occurred on Tuesday, April 28th. The stock was sold at an average price of $178.48, for a total value of $99,234.88. Following the transaction, the executive vice president owned 29,877 shares in the company, valued at approximately $5,332,446.96. This represents a 1.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Rajesh Kalathur purchased 2,671 shares of the business’s stock in a transaction on Tuesday, March 10th. The stock was purchased at an average price of $185.30 per share, for a total transaction of $494,936.30. Following the acquisition, the director owned 4,936 shares of the company’s stock, valued at approximately $914,640.80. This represents a 117.92% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last quarter, insiders have sold 42,181 shares of company stock worth $8,046,071. Corporate insiders own 0.08% of the company’s stock.
American Tower Stock Up 1.1%
American Tower (NYSE:AMT – Get Free Report) last announced its quarterly earnings results on Tuesday, April 28th. The real estate investment trust reported $2.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.60 by $1.24. The business had revenue of $2.74 billion for the quarter, compared to analyst estimates of $2.66 billion. American Tower had a return on equity of 27.79% and a net margin of 26.81%.The company’s quarterly revenue was up 6.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.75 earnings per share. American Tower has set its FY 2026 guidance at 10.900-11.07 EPS. Equities research analysts anticipate that American Tower Corporation will post 10.67 EPS for the current year.
American Tower Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Monday, July 13th. Shareholders of record on Friday, June 12th will be issued a $1.79 dividend. The ex-dividend date is Friday, June 12th. This represents a $7.16 annualized dividend and a yield of 3.8%. American Tower’s dividend payout ratio is presently 115.67%.
Analyst Upgrades and Downgrades
A number of equities analysts have issued reports on AMT shares. Raymond James Financial reaffirmed a “strong-buy” rating and issued a $240.00 target price on shares of American Tower in a report on Wednesday, April 29th. Royal Bank Of Canada reissued a “sector perform” rating and issued a $195.00 price target on shares of American Tower in a research note on Thursday, April 30th. Jefferies Financial Group increased their price target on American Tower from $209.00 to $210.00 and gave the company a “buy” rating in a research note on Tuesday, April 14th. JPMorgan Chase & Co. cut their target price on American Tower from $245.00 to $240.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 29th. Finally, Mizuho upgraded American Tower from a “neutral” rating to an “outperform” rating and upped their target price for the company from $189.00 to $205.00 in a research report on Wednesday, April 15th. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $216.20.
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.
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