31,582 Shares in American Tower Corporation $AMT Bought by iA Global Asset Management Inc.

Key Points

• iA Global Asset Management opened a new position in American Tower, buying 31,582 shares valued at about $5.55 million in the fourth quarter.
• American Tower reported strong quarterly results, with EPS of $2.84 beating estimates by $1.24 and revenue of $2.74 billion topping expectations. The company also raised its quarterly dividend to $1.79 per share, or $7.16 annually.
• Wall Street remains broadly positive on AMT, with a consensus rating of “Moderate Buy” and an average price target of $218.05. Analyst targets ranged from $195 to $260, while the stock recently traded around $170.74.

iA Global Asset Management Inc. bought a new position in shares of American Tower Corporation (NYSE:AMT - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The fund bought 31,582 shares of the real estate investment trust's stock, valued at approximately $5,545,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in AMT. Richards Merrill & Peterson Inc. purchased a new position in American Tower during the 4th quarter worth $25,000. Oakworth Capital Inc. grew its stake in American Tower by 90.7% during the 4th quarter. Oakworth Capital Inc. now owns 143 shares of the real estate investment trust's stock worth $25,000 after buying an additional 68 shares during the last quarter. Holos Integrated Wealth LLC purchased a new position in American Tower during the 4th quarter worth $27,000. Triumph Capital Management purchased a new position in American Tower during the 3rd quarter worth $29,000. Finally, Steph & Co. grew its stake in American Tower by 87.2% during the 4th quarter. Steph & Co. now owns 176 shares of the real estate investment trust's stock worth $31,000 after buying an additional 82 shares during the last quarter. 92.69% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have weighed in on AMT shares. Sanford C. Bernstein boosted their price target on American Tower from $205.00 to $207.00 and gave the company a "market perform" rating in a research note on Tuesday, April 28th. Citizens Jmp reiterated a "market outperform" rating and set a $260.00 price target on shares of American Tower in a research note on Wednesday, April 29th. Weiss Ratings upgraded American Tower from a "hold (c-)" rating to a "hold (c)" rating in a research note on Monday, May 11th. JPMorgan Chase & Co. dropped their price target on American Tower from $245.00 to $240.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 29th. Finally, Royal Bank Of Canada reiterated a "sector perform" rating and set a $195.00 price target on shares of American Tower in a research note on Thursday, April 30th. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and six have issued a Hold rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $218.05.

American Tower Stock Up 0.1%

American Tower stock opened at $170.74 on Monday. The company has a debt-to-equity ratio of 3.07, a quick ratio of 0.43 and a current ratio of 0.43. The business's 50-day simple moving average is $177.80 and its two-hundred day simple moving average is $179.04. The company has a market cap of $79.54 billion, a PE ratio of 27.58, a PEG ratio of 0.71 and a beta of 0.90. American Tower Corporation has a fifty-two week low of $165.08 and a fifty-two week high of $234.33.

American Tower (NYSE:AMT - Get Free Report) last issued its quarterly earnings data on Tuesday, April 28th. The real estate investment trust reported $2.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.60 by $1.24. The business had revenue of $2.74 billion during the quarter, compared to analysts' expectations of $2.66 billion. American Tower had a return on equity of 27.79% and a net margin of 26.81%.The company's revenue for the quarter was up 6.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.75 EPS. American Tower has set its FY 2026 guidance at 10.900-11.07 EPS. Equities analysts anticipate that American Tower Corporation will post 10.67 EPS for the current year.

American Tower Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 28th. Stockholders of record on Tuesday, April 14th were issued a $1.79 dividend. This is a boost from American Tower's previous quarterly dividend of $1.70. The ex-dividend date of this dividend was Tuesday, April 14th. This represents a $7.16 annualized dividend and a dividend yield of 4.2%. American Tower's payout ratio is presently 115.67%.

Insider Activity

In related news, Director Rajesh Kalathur acquired 2,671 shares of the firm's stock in a transaction dated Tuesday, March 10th. The stock was acquired at an average price of $185.30 per share, with a total value of $494,936.30. Following the acquisition, the director directly owned 4,936 shares in the company, valued at $914,640.80. This represents a 117.92% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Ruth T. Dowling sold 556 shares of the business's stock in a transaction dated 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 position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 42,181 shares of company stock valued at $8,046,071 in the last quarter. 0.08% of the stock is currently owned by company insiders.

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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