Ally Financial Inc. Buys 7,000 Shares of American Tower Corporation $AMT

Ally Financial Inc. grew its stake in American Tower Corporation (NYSE:AMT - Free Report) by 29.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 31,000 shares of the real estate investment trust's stock after purchasing an additional 7,000 shares during the quarter. Ally Financial Inc.'s holdings in American Tower were worth $5,443,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Richards Merrill & Peterson Inc. bought a new position in American Tower in the 4th quarter worth $25,000. Oakworth Capital Inc. raised its holdings in American Tower by 90.7% in the 4th quarter. Oakworth Capital Inc. now owns 143 shares of the real estate investment trust's stock worth $25,000 after purchasing an additional 68 shares in the last quarter. Swiss RE Ltd. bought a new position in American Tower in the 4th quarter worth $25,000. Holos Integrated Wealth LLC bought a new position in American Tower in the 4th quarter worth $27,000. Finally, Triumph Capital Management bought a new position in American Tower in the 3rd quarter worth $29,000. 92.69% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, EVP Ruth T. Dowling sold 416 shares of the stock in a transaction dated Wednesday, April 29th. The shares were sold at an average price of $177.54, for a total transaction of $73,856.64. Following the sale, the executive vice president directly owned 29,461 shares of the company's stock, valued at approximately $5,230,505.94. This represents a 1.39% decrease in their position. The sale 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.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on AMT. Mizuho raised shares of American Tower from a "neutral" rating to an "outperform" rating and upped their target price for the stock from $189.00 to $205.00 in a research report on Wednesday, April 15th. Jefferies Financial Group upped their target price on shares of American Tower from $209.00 to $210.00 and gave the stock a "buy" rating in a research report on Tuesday, April 14th. Barclays reduced their target price on shares of American Tower from $200.00 to $195.00 and set an "equal weight" rating on the stock in a research report on Thursday, April 16th. UBS Group reduced their target price on shares of American Tower from $254.00 to $248.00 and set a "buy" rating on the stock in a research report on Wednesday, February 25th. Finally, Truist Financial upped their target price on shares of American Tower from $205.00 to $208.00 and gave the stock a "buy" rating in a research report on Thursday, April 30th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, American Tower has a consensus rating of "Moderate Buy" and an average price target of $216.20.

American Tower Stock Performance

Shares of AMT stock opened at $187.20 on Friday. American Tower Corporation has a one year low of $165.08 and a one year high of $234.33. The company's 50-day moving average is $181.01 and its 200 day moving average is $179.92. The company has a market capitalization of $87.22 billion, a price-to-earnings ratio of 30.24, a price-to-earnings-growth ratio of 0.78 and a beta of 0.90. The company has a debt-to-equity ratio of 3.07, a quick ratio of 0.43 and a current ratio of 0.43.

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

American Tower Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 13th. Investors of record on Friday, June 12th will be given a dividend of $1.79 per share. This represents a $7.16 annualized dividend and a yield of 3.8%. The ex-dividend date of this dividend is Friday, June 12th. American Tower's dividend payout ratio is 115.67%.

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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