Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in American Tower Corporation (NYSE:AMT – Free Report) by 6.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 73,717 shares of the real estate investment trust’s stock after purchasing an additional 4,400 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in American Tower were worth $12,666,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Operose Advisors LLC acquired a new position in American Tower during the 2nd quarter worth $25,000. Allied Private Wealth LLC acquired a new stake in American Tower in the 2nd quarter valued at about $29,000. Mowery & Schoenfeld Wealth Management LLC acquired a new stake in American Tower in the 2nd quarter valued at about $33,000. Cache Advisors LLC purchased a new position in shares of American Tower in the 1st quarter valued at about $38,000. Finally, Kelleher Financial Advisors purchased a new position in shares of American Tower in the 2nd quarter valued at about $37,000. 92.69% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of equities analysts have recently commented on AMT shares. Royal Bank Of Canada raised American Tower from a “sector perform” rating to an “outperform” rating and boosted their price objective for the stock from $195.00 to $205.00 in a research report on Friday, June 26th. The Goldman Sachs Group set a $210.00 target price on shares of American Tower in a report on Tuesday, July 28th. Weiss Ratings downgraded shares of American Tower from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday, October 8th. Jefferies Financial Group decreased their price target on shares of American Tower from $210.00 to $201.00 and set a “buy” rating for the company in a research note on Wednesday, July 15th. Finally, Scotiabank reiterated an “outperform” rating on shares of American Tower in a report on Wednesday, July 29th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, American Tower has an average rating of “Moderate Buy” and a consensus price target of $214.90.
Check Out Our Latest Analysis on American Tower
American Tower Stock Performance
NYSE:AMT opened at $183.38 on Wednesday. The firm has a market capitalization of $85.45 billion, a PE ratio of 25.22, a price-to-earnings-growth ratio of 2.94 and a beta of 0.88. The business’s fifty day moving average price is $174.13 and its 200 day moving average price is $175.55. The company has a debt-to-equity ratio of 3.12, a current ratio of 0.52 and a quick ratio of 0.52. American Tower Corporation has a 12 month low of $160.06 and a 12 month high of $196.08.
American Tower (NYSE:AMT – Get Free Report) last announced its quarterly earnings results on Tuesday, July 28th. The real estate investment trust reported $2.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.57 by $1.14. The company had revenue of $2.75 billion during the quarter, compared to the consensus estimate of $2.70 billion. American Tower had a return on equity of 32.76% and a net margin of 31.08%. American Tower’s revenue for the quarter was up 4.6% on a year-over-year basis. During the same period in the previous year, the business earned $2.60 EPS. American Tower has set its FY 2026 guidance at 11.000-11.170 EPS. On average, sell-side analysts anticipate that American Tower Corporation will post 10.80 earnings per share for the current fiscal year.
American Tower Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 20th. Stockholders of record on Wednesday, September 30th were given a dividend of $1.79 per share. This represents a $7.16 annualized dividend and a dividend yield of 3.9%. The ex-dividend date of this dividend was Wednesday, September 30th. American Tower’s dividend payout ratio (DPR) is 98.49%.
Insider Transactions at American Tower
In other American Tower news, Director Rajesh Kalathur purchased 2,829 shares of the stock in a transaction that occurred on Friday, August 21st. The stock was purchased at an average cost of $177.00 per share, with a total value of $500,733.00. Following the completion of the acquisition, the director directly owned 7,765 shares of the company’s stock, valued at $1,374,405. This trade represents a 57.31% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 completion of the transaction, the chief financial officer owned 21,428 shares in the company, valued at $3,833,254.92. This represents a 18.92% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 6,791 shares of company stock valued at $1,204,091. Corporate insiders own 0.08% of the company’s stock.
American Tower Profile
American Tower Corporation (NYSE:AMT) is a real estate investment trust that owns, operates and develops wireless communications infrastructure. Its portfolio primarily includes communications towers, rooftop sites, distributed antenna systems and other infrastructure used by wireless carriers, broadcasters, governments and businesses to support voice, data and video communications.
The company leases space on its sites to multiple customers, allowing them to install antennas and related equipment without building and maintaining individual tower locations.
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