Shares of American Tower Corporation (NYSE:AMT – Get Free Report) reached a new 52-week low on Tuesday . The company traded as low as $164.01 and last traded at $164.8750, with a volume of 421485 shares trading hands. The stock had previously closed at $168.67.
Analyst Ratings Changes
Several equities analysts recently weighed in on the company. Raymond James Financial reiterated a “strong-buy” rating and set a $240.00 target price on shares of American Tower in a research report on Wednesday, April 29th. Jefferies Financial Group lifted their price target on shares of American Tower from $209.00 to $210.00 and gave the stock a “buy” rating in a research note on Tuesday, April 14th. Weiss Ratings raised American Tower from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, May 11th. Mizuho upgraded 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 report on Wednesday, April 15th. Finally, Truist Financial upped their price objective on American Tower from $205.00 to $208.00 and gave the stock a “buy” rating in a research note on Thursday, April 30th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $216.95.
Check Out Our Latest Stock Analysis on AMT
American Tower Stock Performance
American Tower (NYSE:AMT – Get Free Report) last posted its quarterly earnings results on Tuesday, April 28th. The real estate investment trust reported $2.84 earnings per share for the quarter, beating the consensus estimate of $1.60 by $1.24. The business had revenue of $2.74 billion for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.75 EPS. American Tower has set its FY 2026 guidance at 10.900-11.07 EPS. As a group, sell-side analysts predict that American Tower Corporation will post 10.66 earnings per share for the current year.
American Tower Announces Dividend
The business 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 of this dividend is Friday, June 12th. This represents a $7.16 dividend on an annualized basis and a yield of 4.3%. American Tower’s payout ratio is presently 115.67%.
Insiders Place Their Bets
In other American Tower news, EVP Ruth T. Dowling sold 556 shares of the stock in a transaction on Tuesday, April 28th. The shares were sold at an average price of $178.48, for a total transaction of $99,234.88. Following the transaction, the executive vice president directly owned 29,877 shares of the company’s stock, valued at $5,332,446.96. This trade represents a 1.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.08% of the company’s stock.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Oakworth Capital Inc. increased its holdings in shares of American Tower by 90.7% in the fourth quarter. Oakworth Capital Inc. now owns 143 shares of the real estate investment trust’s stock valued at $25,000 after purchasing an additional 68 shares during the last quarter. Richards Merrill & Peterson Inc. acquired a new position in American Tower in the fourth quarter valued at $25,000. Swiss RE Ltd. acquired a new stake in shares of American Tower during the fourth quarter worth about $25,000. Triumph Capital Management purchased a new stake in shares of American Tower in the 3rd quarter valued at about $29,000. Finally, Holos Integrated Wealth LLC purchased a new position in American Tower during the 4th quarter worth approximately $27,000. 92.69% of the stock is owned by hedge funds and other institutional investors.
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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