Praxis Investment Management Inc. lifted its stake in American Tower Corporation (NYSE:AMT – Free Report) by 56.4% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,671 shares of the real estate investment trust’s stock after purchasing an additional 3,850 shares during the period. Praxis Investment Management Inc.’s holdings in American Tower were worth $1,842,000 at the end of the most recent reporting period.
A number of other institutional investors also recently bought and sold shares of AMT. Riverwater Partners LLC grew its holdings in American Tower by 3.8% during the fourth quarter. Riverwater Partners LLC now owns 1,536 shares of the real estate investment trust’s stock valued at $270,000 after purchasing an additional 56 shares during the period. Triumph Capital Management raised its stake in shares of American Tower by 37.3% in the fourth quarter. Triumph Capital Management now owns 206 shares of the real estate investment trust’s stock worth $36,000 after buying an additional 56 shares during the period. Personal CFO Solutions LLC raised its stake in shares of American Tower by 3.5% in the fourth quarter. Personal CFO Solutions LLC now owns 1,667 shares of the real estate investment trust’s stock worth $293,000 after buying an additional 57 shares during the period. Twin City Private Wealth LLC lifted its position in shares of American Tower by 0.7% during the 4th quarter. Twin City Private Wealth LLC now owns 7,799 shares of the real estate investment trust’s stock valued at $1,382,000 after buying an additional 58 shares in the last quarter. Finally, Asset Advisory Group Inc. grew its stake in shares of American Tower by 3.0% during the 1st quarter. Asset Advisory Group Inc. now owns 2,072 shares of the real estate investment trust’s stock valued at $358,000 after acquiring an additional 60 shares during the period. 92.69% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
Several research firms recently issued reports on AMT. Weiss Ratings lowered shares of American Tower from a “hold (c)” rating to a “hold (c-)” rating in a report on Monday, June 29th. Citizens Jmp reiterated a “market outperform” rating and issued a $260.00 price target on shares of American Tower in a research report on Wednesday, April 29th. The Goldman Sachs Group began coverage on shares of American Tower in a research note on Friday, June 26th. They issued a “buy” rating and a $215.00 price objective for the company. Scotiabank raised their price objective on shares of American Tower from $214.00 to $218.00 and gave the company an “outperform” rating in a research report on Wednesday, April 29th. Finally, Sanford C. Bernstein upgraded shares of American Tower from a “market perform” rating to an “outperform” rating and set a $207.00 target price on the stock in a research note on Tuesday, May 19th. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $216.95.
American Tower Stock Down 0.1%
Shares of AMT opened at $165.84 on Friday. The business’s 50 day moving average is $179.93 and its 200 day moving average is $179.30. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 3.07. American Tower Corporation has a 12-month low of $162.27 and a 12-month high of $234.33. The company has a market capitalization of $77.27 billion, a PE ratio of 26.79, a price-to-earnings-growth ratio of 0.69 and a beta of 0.91.
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, 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 the consensus estimate of $2.66 billion. During the same period in the prior year, the company posted $2.75 EPS. The firm’s revenue for the quarter 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. Research analysts expect that American Tower Corporation will post 10.66 earnings per share for the current fiscal year.
American Tower Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Monday, July 13th. Investors of record on Friday, June 12th will be paid a dividend of $1.79 per share. 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 dividend payout ratio is presently 115.67%.
Insider Buying and Selling at American Tower
In related news, EVP Ruth T. Dowling sold 556 shares of the firm’s stock in a transaction on Tuesday, April 28th. The shares were sold at an average price of $178.48, for a total value of $99,234.88. Following the completion of the transaction, the executive vice president directly owned 29,877 shares of the company’s stock, valued at approximately $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 can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.08% of the company’s stock.
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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