12,715 Shares of American Tower Corporation $AMT Bought by Congress Asset Management Co.

Key Points

• Congress Asset Management acquired 12,715 American Tower shares worth approximately $2.08 million in the third quarter. Institutional investors collectively own 92.69% of the company.
• Analysts maintain a favorable outlook, with American Tower receiving a “Moderate Buy” consensus rating and an average price target of $215.48, above its reported $166.21 share price.
• American Tower exceeded quarterly earnings and revenue estimates, while announcing a quarterly dividend of $1.79 per share, equivalent to a 4.3% annualized yield.

Congress Asset Management Co. bought a new stake in shares of American Tower Corporation (NYSE:AMT - Free Report) in the third quarter, according to its most recent Form 13F filing with the SEC. The fund bought 12,715 shares of the real estate investment trust's stock, valued at approximately $2,081,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. BlackRock Inc. bought a new stake in shares of American Tower during the second quarter valued at approximately $7,490,943,000. J. Stern & Co. LLP grew its holdings 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 worth $6,616,703,000 after buying an additional 37,553,436 shares in the last quarter. State Street Corp increased its position in American Tower by 0.3% in the 4th quarter. State Street Corp now owns 20,987,534 shares of the real estate investment trust's stock valued at $3,719,634,000 after acquiring an additional 71,605 shares during the period. Lazard Asset Management LLC raised its stake in American Tower by 20.4% during the 1st quarter. Lazard Asset Management LLC now owns 7,325,943 shares of the real estate investment trust's stock valued at $1,264,311,000 after acquiring an additional 1,240,780 shares in the last quarter. Finally, Invesco Ltd. boosted its position in American Tower by 0.9% during the 4th quarter. Invesco Ltd. now owns 6,948,190 shares of the real estate investment trust's stock worth $1,219,894,000 after acquiring an additional 59,557 shares during the period. Institutional investors own 92.69% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on AMT shares. TD Cowen raised their price target on American Tower from $225.00 to $227.00 and gave the company 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 upped their price objective for the stock from $195.00 to $205.00 in a report on Friday, June 26th. Sanford C. Bernstein reiterated an "outperform" rating and issued a $214.00 target price on shares of American Tower in a research report on Wednesday, July 29th. Jefferies Financial Group lowered their target price on shares of American Tower from $210.00 to $201.00 and set a "buy" rating on the stock in a research note on Wednesday, July 15th. Finally, Truist Financial reaffirmed a "buy" rating and issued a $207.00 price target (down from $208.00) on shares of American Tower in a research note on Wednesday, August 12th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, American Tower presently has an average rating of "Moderate Buy" and an average price target of $215.48.

American Tower Trading Up 0.9%

Shares of American Tower stock opened at $166.21 on Thursday. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 3.12. The firm has a market cap of $77.45 billion, a price-to-earnings ratio of 22.86, a price-to-earnings-growth ratio of 2.65 and a beta of 0.88. The business has a fifty day simple moving average of $172.61 and a 200-day simple moving average of $174.99. American Tower Corporation has a fifty-two week low of $160.06 and a fifty-two week high of $196.08.

American Tower (NYSE:AMT - Get Free Report) last released its 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. American Tower had a return on equity of 32.76% and a net margin of 31.08%.The firm had revenue of $2.75 billion for the quarter, compared to analyst estimates of $2.70 billion. During the same period in the previous year, the company earned $2.60 earnings per share. American Tower's revenue was up 4.6% compared to the same quarter last year. American Tower has set its FY 2026 guidance at 11.000-11.170 EPS. On average, equities analysts forecast that American Tower Corporation will post 10.8 EPS 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. Stockholders of record on Wednesday, September 30th will be paid a $1.79 dividend. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $7.16 annualized dividend and a dividend yield of 4.3%. American Tower's payout ratio is currently 98.49%.

Insider Buying and Selling

In other American Tower news, EVP Ruth T. Dowling sold 1,106 shares of the company's stock in a transaction on Wednesday, July 29th. The stock was sold at an average price of $174.96, for a total value of $193,505.76. Following the transaction, the executive vice president owned 27,711 shares of the company's stock, valued at approximately $4,848,316.56. This represents a 3.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Robert Joseph Meyer sold 5,000 shares of the stock in a transaction on Wednesday, July 29th. The shares were sold at an average price of $178.89, for a total value of $894,450.00. Following the sale, the chief financial officer owned 21,428 shares of the company's stock, valued at $3,833,254.92. This trade represents a 18.92% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 6,791 shares of company stock worth $1,204,091 in the last ninety days. 0.08% of the stock is currently owned by corporate insiders.

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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