Shares of American Tower Corporation (NYSE:AMT – Get Free Report) gapped up prior to trading on Friday. The stock had previously closed at $166.73, but opened at $176.91. American Tower shares last traded at $178.8130, with a volume of 1,827,300 shares changing hands.
Analyst Upgrades and Downgrades
A number of equities research analysts recently issued reports on AMT shares. Royal Bank Of Canada raised shares of American Tower from a “sector perform” rating to an “outperform” rating and upped their price objective for the company from $195.00 to $205.00 in a report on Friday, June 26th. Wolfe Research upgraded American Tower from a “peer perform” rating to an “outperform” rating and set a $188.00 target price on the stock in a research report on Wednesday, July 8th. Jefferies Financial Group lowered their target price 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. TD Cowen boosted their price target on shares of American Tower from $225.00 to $227.00 and gave the stock a “buy” rating in a research note on Wednesday, July 29th. Finally, Barclays lifted their price objective on shares of American Tower from $198.00 to $199.00 and gave the company an “overweight” rating in a report on Wednesday, September 30th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $215.48.
Read Our Latest Research Report on AMT
American Tower Trading Up 7.5%
American Tower (NYSE:AMT – Get Free Report) last issued its quarterly earnings data 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. The firm had revenue of $2.75 billion during the quarter, compared to analysts’ expectations 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 was up 4.6% on a year-over-year basis. During the same period in the previous year, the firm posted $2.60 earnings per share. American Tower has set its FY 2026 guidance at 11.000-11.170 EPS. As a group, sell-side analysts forecast that American Tower Corporation will post 10.8 earnings per share for the current fiscal year.
American Tower Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 20th. Shareholders of record on Wednesday, September 30th will be paid a dividend of $1.79 per share. This represents a $7.16 dividend on an annualized basis and a yield of 4.0%. The ex-dividend date is Wednesday, September 30th. American Tower’s dividend payout ratio (DPR) is 98.49%.
Insider Activity at American Tower
In related news, Director Rajesh Kalathur purchased 2,829 shares of the business’s stock in a transaction that occurred on Friday, August 21st. The shares were acquired at an average price of $177.00 per share, with a total value of $500,733.00. Following the acquisition, the director owned 7,765 shares in the company, valued at approximately $1,374,405. This trade represents a 57.31% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Robert Joseph Meyer sold 5,000 shares of the stock in a transaction on Wednesday, July 29th. The stock was sold at an average price of $178.89, for a total value of $894,450.00. Following the completion of the sale, the chief financial officer directly 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 ninety 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.
Institutional Trading of American Tower
Large investors have recently modified their holdings of the company. Operose Advisors LLC acquired a new position in American Tower during the 2nd quarter valued at about $25,000. Allied Private Wealth LLC bought a new stake in shares of American Tower during the second quarter valued at approximately $29,000. Mowery & Schoenfeld Wealth Management LLC acquired a new position in shares of American Tower during the second quarter worth approximately $33,000. Kelleher Financial Advisors bought a new position in American Tower in the 2nd quarter worth approximately $37,000. Finally, Cache Advisors LLC acquired a new stake in American Tower in the 1st quarter valued at approximately $38,000. Institutional investors and hedge funds own 92.69% of the company’s stock.
American Tower Company Profile
American Tower Corporation (NYSE: AMT) is a global real estate investment trust that owns, operates and develops communications infrastructure. Its portfolio includes wireless and broadcast towers, rooftop sites, distributed antenna systems and other facilities that support wireless communications, television and radio broadcasting, government communications and other connectivity services.
The company leases space on its communications sites to wireless carriers, broadcasters, government agencies and other customers.
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