Walleye Capital LLC acquired a new stake in American Tower Corporation (NYSE:AMT – Free Report) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor acquired 176,101 shares of the real estate investment trust’s stock, valued at approximately $28,805,000.
A number of other hedge funds have also modified their holdings of the stock. J. Stern & Co. LLP boosted its stake in American Tower by 28,121.1% in the 4th quarter. J. Stern & Co. LLP now owns 37,686,978 shares of the real estate investment trust’s stock valued at $6,616,703,000 after buying an additional 37,553,436 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in American Tower by 20,721.6% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 9,712,672 shares of the real estate investment trust’s stock worth $1,705,254,000 after acquiring an additional 9,666,025 shares in the last quarter. Norges Bank bought a new position in shares of American Tower during the fourth quarter valued at $1,171,180,000. Lazard Asset Management LLC lifted its holdings in shares of American Tower by 1,984.8% during the third quarter. Lazard Asset Management LLC now owns 4,464,382 shares of the real estate investment trust’s stock valued at $858,552,000 after acquiring an additional 4,250,242 shares during the period. Finally, Capital International Investors boosted its stake in shares of American Tower by 157.0% in the 4th quarter. Capital International Investors now owns 3,871,368 shares of the real estate investment trust’s stock valued at $679,696,000 after purchasing an additional 2,364,898 shares in the last quarter. 92.69% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
AMT has been the topic of several analyst reports. TD Cowen upped their target price on shares of American Tower from $225.00 to $227.00 and gave the stock a “buy” rating in a report on Wednesday, July 29th. Royal Bank Of Canada raised shares of American Tower from a “sector perform” rating to an “outperform” rating and lifted their price target for the company from $195.00 to $205.00 in a report on Friday, June 26th. Jefferies Financial Group reduced their price target on shares of American Tower from $210.00 to $201.00 and set a “buy” rating on the stock in a research report on Wednesday, July 15th. Scotiabank reaffirmed an “outperform” rating on shares of American Tower in a research note on Wednesday, July 29th. Finally, Wolfe Research raised shares of American Tower from a “peer perform” rating to an “outperform” rating and set a $188.00 price objective for the company in a report on Wednesday, July 8th. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, American Tower currently has a consensus rating of “Moderate Buy” and a consensus target price of $215.14.
Insider Buying and Selling
In other news, CFO Robert Joseph Meyer sold 5,000 shares of the stock in a transaction that occurred on Wednesday, July 29th. The shares were sold at an average price of $178.89, for a total transaction of $894,450.00. Following the sale, the chief financial officer directly owned 21,428 shares of the company’s stock, valued at $3,833,254.92. This represents a 18.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Ruth T. Dowling sold 1,106 shares of the firm’s stock in a transaction that occurred on Wednesday, July 29th. The shares were sold at an average price of $174.96, for a total transaction of $193,505.76. Following the completion of the sale, the executive vice president directly owned 27,711 shares of the company’s stock, valued at approximately $4,848,316.56. This represents a 3.84% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 6,791 shares of company stock worth $1,204,091 over the last quarter. 0.08% of the stock is owned by company insiders.
American Tower Stock Performance
Shares of NYSE:AMT opened at $175.68 on Friday. The business has a fifty day moving average of $172.82 and a 200-day moving average of $177.94. The company has a debt-to-equity ratio of 3.12, a quick ratio of 0.52 and a current ratio of 0.52. American Tower Corporation has a twelve month low of $160.06 and a twelve month high of $214.79. The firm has a market cap of $81.86 billion, a PE ratio of 24.17, a price-to-earnings-growth ratio of 2.76 and a beta of 0.90.
American Tower (NYSE:AMT – Get Free Report) last issued its quarterly earnings results on Tuesday, July 28th. The real estate investment trust reported $2.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.57 by $1.14. American Tower had a net margin of 31.08% and a return on equity of 32.76%. The business had revenue of $2.75 billion for the quarter, compared to the consensus estimate of $2.70 billion. During the same quarter in the prior year, the company earned $2.60 EPS. The firm’s quarterly revenue was up 4.6% on a year-over-year basis. American Tower has set its FY 2026 guidance at 11.000-11.170 EPS. On average, equities research analysts predict that American Tower Corporation will post 10.78 EPS for the current fiscal year.
American Tower Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Monday, July 13th. Shareholders of record on Friday, June 12th were paid a $1.79 dividend. The ex-dividend date of this dividend was Friday, June 12th. This represents a $7.16 dividend on an annualized basis and a dividend yield of 4.1%. American Tower’s payout ratio is currently 98.49%.
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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