Miller Howard Investments Inc. NY grew its stake in shares of American Tower Corporation (NYSE:AMT – Free Report) by 22.4% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 61,337 shares of the real estate investment trust’s stock after acquiring an additional 11,243 shares during the period. Miller Howard Investments Inc. NY’s holdings in American Tower were worth $10,586,000 as of its most recent SEC filing.
A number of other hedge funds have also modified their holdings of the stock. CIBC Bancorp USA Inc. acquired a new position in shares of American Tower during the 3rd quarter worth $35,633,000. Nordea Investment Management AB boosted its holdings in American Tower by 10.4% in the fourth quarter. Nordea Investment Management AB now owns 1,743,321 shares of the real estate investment trust’s stock worth $306,284,000 after purchasing an additional 164,645 shares in the last quarter. Legal & General Group Plc increased its position in American Tower by 4.7% during the fourth quarter. Legal & General Group Plc now owns 4,873,695 shares of the real estate investment trust’s stock worth $855,675,000 after buying an additional 220,447 shares during the last quarter. Rathbones Group PLC increased its position in American Tower by 14.9% during the fourth quarter. Rathbones Group PLC now owns 474,216 shares of the real estate investment trust’s stock worth $83,258,000 after buying an additional 61,428 shares during the last quarter. Finally, Merit Financial Group LLC raised its holdings in American Tower by 60.6% during the fourth quarter. Merit Financial Group LLC now owns 23,212 shares of the real estate investment trust’s stock valued at $4,075,000 after buying an additional 8,758 shares in the last quarter. 92.69% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
AMT has been the subject of several recent analyst reports. TD Cowen decreased their price target on American Tower from $235.00 to $225.00 in a research note on Wednesday, February 25th. Citizens Jmp reissued a “market outperform” rating and issued a $260.00 price objective on shares of American Tower in a research note on Wednesday, April 29th. Barclays reduced their target price on American Tower from $200.00 to $195.00 and set an “equal weight” rating for the company in a report on Thursday, April 16th. Raymond James Financial reiterated a “strong-buy” rating and set a $240.00 price target on shares of American Tower in a report on Wednesday, April 29th. Finally, Mizuho raised shares of American Tower from a “neutral” rating to an “outperform” rating and lifted their price target for the company from $189.00 to $205.00 in a research report on Wednesday, April 15th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $216.20.
Insider Activity at American Tower
In other 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 completion of the sale, the executive vice president directly owned 29,877 shares of the company’s stock, valued at approximately $5,332,446.96. This represents a 1.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.08% of the stock is currently owned by company insiders.
American Tower Trading Up 1.6%
Shares of NYSE:AMT opened at $179.30 on Wednesday. The company has a market cap of $83.53 billion, a P/E ratio of 28.97, a P/E/G ratio of 0.74 and a beta of 0.90. The stock’s 50-day moving average is $181.52 and its 200-day moving average is $179.96. American Tower Corporation has a 52-week low of $165.08 and a 52-week high of $234.33. The company has a debt-to-equity ratio of 3.07, a quick ratio of 0.43 and a current ratio of 0.43.
American Tower (NYSE:AMT – Get Free Report) last posted its quarterly earnings data on Tuesday, April 28th. The real estate investment trust reported $2.84 earnings per share for the quarter, topping the consensus estimate of $1.60 by $1.24. American Tower had a return on equity of 27.79% and a net margin of 26.81%.The business had revenue of $2.74 billion during the quarter, compared to analysts’ expectations of $2.66 billion. During the same quarter in the previous year, the firm earned $2.75 EPS. The firm’s revenue was up 6.8% compared to the same quarter last year. American Tower has set its FY 2026 guidance at 10.900-11.07 EPS. Equities research analysts predict that American Tower Corporation will post 10.66 earnings per share for the current year.
American Tower Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Monday, July 13th. Shareholders of record on Friday, June 12th will be given a $1.79 dividend. This represents a $7.16 annualized dividend and a yield of 4.0%. The ex-dividend date of this dividend is Friday, June 12th. American Tower’s payout ratio is currently 115.67%.
American Tower 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.
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