Lazard Asset Management LLC increased its holdings in American Tower Corporation (NYSE:AMT – Free Report) by 20.4% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 7,325,943 shares of the real estate investment trust’s stock after acquiring an additional 1,240,780 shares during the quarter. American Tower makes up 2.1% of Lazard Asset Management LLC’s portfolio, making the stock its 5th biggest position. Lazard Asset Management LLC owned 1.57% of American Tower worth $1,264,311,000 as of its most recent SEC filing.
A number of other hedge funds have also recently bought and sold shares of AMT. Brighton Jones LLC lifted its stake in American Tower by 113.0% during the fourth quarter. Brighton Jones LLC now owns 3,966 shares of the real estate investment trust’s stock worth $727,000 after purchasing an additional 2,104 shares during the last quarter. Sivia Capital Partners LLC boosted its holdings in American Tower by 34.3% in the second quarter. Sivia Capital Partners LLC now owns 1,442 shares of the real estate investment trust’s stock worth $319,000 after purchasing an additional 368 shares during the period. United Bank increased its stake in American Tower by 12.7% during the second quarter. United Bank now owns 6,488 shares of the real estate investment trust’s stock valued at $1,434,000 after purchasing an additional 733 shares during the last quarter. Treasurer of the State of North Carolina raised its holdings in shares of American Tower by 2.2% during the second quarter. Treasurer of the State of North Carolina now owns 218,511 shares of the real estate investment trust’s stock worth $48,295,000 after purchasing an additional 4,778 shares during the period. Finally, Ieq Capital LLC lifted its position in shares of American Tower by 52.2% in the 2nd quarter. Ieq Capital LLC now owns 34,248 shares of the real estate investment trust’s stock worth $7,570,000 after buying an additional 11,751 shares during the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.
Insider Buying and Selling
In other American Tower news, EVP Ruth T. Dowling sold 556 shares of the business’s stock in a transaction dated Tuesday, April 28th. The shares were sold at an average price of $178.48, for a total transaction of $99,234.88. Following the sale, the executive vice president directly owned 29,877 shares in the company, valued at approximately $5,332,446.96. The trade was a 1.83% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.08% of the company’s stock.
American Tower Stock Performance
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 analysts’ consensus estimates of $1.60 by $1.24. The company had revenue of $2.74 billion during 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 firm’s quarterly revenue was up 6.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.75 EPS. American Tower has set its FY 2026 guidance at 10.900-11.07 EPS. On average, equities research analysts anticipate that American Tower Corporation will post 10.66 EPS for the current year.
American Tower Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Monday, July 13th. Investors of record on Friday, June 12th were given a $1.79 dividend. This represents a $7.16 dividend on an annualized basis and a yield of 4.3%. The ex-dividend date was Friday, June 12th. American Tower’s dividend payout ratio is currently 115.67%.
Analyst Ratings Changes
Several equities research analysts recently weighed in on AMT shares. Citizens Jmp reiterated a “market outperform” rating and set a $260.00 price objective on shares of American Tower in a research note on Wednesday, April 29th. Mizuho raised 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 report on Wednesday, April 15th. Raymond James Financial reiterated a “strong-buy” rating and set a $240.00 price target on shares of American Tower in a research report on Wednesday, April 29th. JPMorgan Chase & Co. reduced their price objective on American Tower from $245.00 to $240.00 and set an “overweight” rating for the company in a research report on Wednesday, April 29th. Finally, Jefferies Financial Group increased their target price on American Tower from $209.00 to $210.00 and gave the stock a “buy” rating in a research report on Tuesday, April 14th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $215.57.
Check Out Our Latest Report on American Tower
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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