Alberta Investment Management Corp Purchases New Shares in American Tower Corporation $AMT

Alberta Investment Management Corp bought a new stake in American Tower Corporation (NYSE:AMT - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 42,400 shares of the real estate investment trust's stock, valued at approximately $6,935,000.

Several other large investors have also recently added to or reduced their stakes in the company. Oakworth Capital Inc. increased its holdings 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 valued at $25,000 after acquiring an additional 68 shares in the last quarter. Richards Merrill & Peterson Inc. purchased a new stake in American Tower in the fourth quarter valued at approximately $25,000. Swiss RE Ltd. acquired a new stake in shares of American Tower during the 4th quarter worth $25,000. Triumph Capital Management purchased a new position in shares of American Tower in the 3rd quarter worth about $29,000. Finally, Acumen Wealth Advisors LLC purchased a new position in American Tower in the fourth quarter valued at approximately $29,000. 92.69% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on AMT shares. Citizens Jmp restated a "market outperform" rating and set a $260.00 target price on shares of American Tower in a research note on Wednesday, April 29th. Royal Bank Of Canada raised shares of American Tower from a "sector perform" rating to an "outperform" rating and boosted their target price for the stock from $195.00 to $205.00 in a research report on Friday, June 26th. Weiss Ratings raised shares of American Tower from a "hold (c-)" rating to a "hold (c)" rating in a research report on Tuesday, July 14th. Scotiabank reiterated an "outperform" rating on shares of American Tower in a research note on Wednesday, July 29th. Finally, BMO Capital Markets boosted their price objective on American Tower from $190.00 to $195.00 and gave the company a "market perform" rating in a report on Wednesday, July 29th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $215.14.

Insider Buying and Selling

In other American Tower news, CFO Robert Joseph Meyer sold 5,000 shares of the business's stock in a transaction on Wednesday, July 29th. The stock was sold at an average price of $178.89, for a total transaction of $894,450.00. Following the completion of the transaction, the chief financial officer owned 21,428 shares in the company, valued at approximately $3,833,254.92. The trade was a 18.92% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Ruth T. Dowling sold 1,106 shares of the 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 completion of the transaction, the executive vice president directly owned 27,711 shares of the company's stock, valued at approximately $4,848,316.56. The trade was a 3.84% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 6,791 shares of company stock worth $1,204,091. Corporate insiders own 0.08% of the company's stock.

American Tower Stock Performance

AMT stock opened at $175.68 on Monday. American Tower Corporation has a 1 year low of $160.06 and a 1 year high of $214.79. The stock has a market capitalization of $81.86 billion, a price-to-earnings ratio of 24.17, a PEG ratio of 2.79 and a beta of 0.90. The company has a debt-to-equity ratio of 3.12, a quick ratio of 0.52 and a current ratio of 0.52. The stock's fifty day moving average is $172.82 and its two-hundred day moving average is $177.93.

American Tower (NYSE:AMT - Get Free Report) last released its quarterly earnings results on Tuesday, July 28th. The real estate investment trust reported $2.71 EPS for the quarter, topping the consensus estimate of $1.57 by $1.14. The business had revenue of $2.75 billion during the quarter, compared to analyst estimates of $2.70 billion. American Tower had a net margin of 31.08% and a return on equity of 32.76%. The company's quarterly revenue was up 4.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.60 earnings per share. American Tower has set its FY 2026 guidance at 11.000-11.170 EPS. On average, research analysts predict that American Tower Corporation will post 10.78 EPS for the current year.

American Tower Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, July 13th. Shareholders of record on Friday, June 12th were paid a $1.79 dividend. The ex-dividend date was Friday, June 12th. This represents a $7.16 annualized dividend and a dividend yield of 4.1%. American Tower's dividend payout ratio (DPR) is presently 98.49%.

American Tower Company 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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