AlphaQuest LLC Acquires 5,501 Shares of American Tower Corporation $AMT

Key Points

• AlphaQuest LLC increased its American Tower stake by 64% in the fourth quarter, buying 5,501 shares and bringing its total holding to 14,093 shares valued at about $2.47 million.
• American Tower reported strong quarterly results, with EPS of $2.84 beating estimates by a wide margin and revenue of $2.74 billion topping expectations; the company also raised FY 2026 guidance to $10.90-$11.07 per share.
• The company announced a quarterly dividend of $1.79 per share, equal to an annualized yield of 3.9%, while analysts currently rate the stock a consensus Moderate Buy with a $216.20 price target.

AlphaQuest LLC lifted its holdings in American Tower Corporation (NYSE:AMT - Free Report) by 64.0% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 14,093 shares of the real estate investment trust's stock after purchasing an additional 5,501 shares during the period. AlphaQuest LLC's holdings in American Tower were worth $2,474,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in American Tower by 1.0% in the 3rd quarter. Vanguard Group Inc. now owns 63,640,168 shares of the real estate investment trust's stock worth $12,239,277,000 after acquiring an additional 611,801 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its holdings in American Tower by 20,721.6% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 9,712,672 shares of the real estate investment trust's stock worth $1,705,254,000 after acquiring an additional 9,666,025 shares in the last quarter. Invesco Ltd. increased its holdings in American Tower by 3.1% in the 3rd quarter. Invesco Ltd. now owns 6,888,633 shares of the real estate investment trust's stock worth $1,324,822,000 after acquiring an additional 208,109 shares in the last quarter. Principal Financial Group Inc. increased its holdings in American Tower by 1.0% in the 4th quarter. Principal Financial Group Inc. now owns 6,038,061 shares of the real estate investment trust's stock worth $1,060,103,000 after acquiring an additional 57,545 shares in the last quarter. Finally, Capital Research Global Investors increased its holdings in American Tower by 0.3% in the 3rd quarter. Capital Research Global Investors now owns 4,924,771 shares of the real estate investment trust's stock worth $947,132,000 after acquiring an additional 15,145 shares in the last quarter. 92.69% of the stock is owned by hedge funds and other institutional investors.

American Tower Trading Up 0.8%

Shares of AMT opened at $185.36 on Wednesday. The company has a debt-to-equity ratio of 3.07, a current ratio of 0.43 and a quick ratio of 0.43. American Tower Corporation has a 1 year low of $165.08 and a 1 year high of $234.33. The company has a 50 day simple moving average of $177.50 and a two-hundred day simple moving average of $179.20. The firm has a market cap of $86.36 billion, a P/E ratio of 29.95, a price-to-earnings-growth ratio of 0.77 and a beta of 0.90.

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 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.60 by $1.24. American Tower had a net margin of 26.81% and a return on equity of 27.79%. The business had revenue of $2.74 billion during the quarter, compared to analyst estimates of $2.66 billion. During the same period last year, the firm posted $2.75 EPS. The company's revenue was up 6.8% on a year-over-year basis. American Tower has set its FY 2026 guidance at 10.900-11.07 EPS. On average, equities analysts expect that American Tower Corporation will post 10.67 earnings per share for the current fiscal year.

American Tower Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 13th. Stockholders of record on Friday, June 12th will be given a dividend of $1.79 per share. This represents a $7.16 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date is Friday, June 12th. American Tower's dividend payout ratio is currently 115.67%.

Insider Activity

In other news, COO Eugene M. Noel sold 41,209 shares of the business's stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $191.05, for a total value of $7,872,979.45. Following the sale, the chief operating officer directly owned 29,592 shares in the company, valued at $5,653,551.60. The trade was a 58.20% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Rajesh Kalathur bought 2,671 shares of American Tower stock in a transaction dated Tuesday, March 10th. The stock was acquired at an average price of $185.30 per share, for a total transaction of $494,936.30. Following the completion of the acquisition, the director owned 4,936 shares in the company, valued at approximately $914,640.80. The trade was a 117.92% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last ninety days, insiders sold 42,181 shares of company stock worth $8,046,071. 0.08% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities research analysts recently issued reports on AMT shares. Morgan Stanley reduced their target price on shares of American Tower from $225.00 to $220.00 and set an "overweight" rating for the company in a report on Wednesday, February 25th. JPMorgan Chase & Co. reduced their target price on shares of American Tower from $245.00 to $240.00 and set an "overweight" rating for the company in a report on Wednesday, April 29th. Mizuho raised shares of American Tower from a "neutral" rating to an "outperform" rating and increased their target price for the stock from $189.00 to $205.00 in a report on Wednesday, April 15th. BMO Capital Markets increased their price objective on shares of American Tower from $185.00 to $200.00 and gave the company a "market perform" rating in a report on Wednesday, February 25th. Finally, TD Cowen cut their price objective on shares of American Tower from $235.00 to $225.00 in a report on Wednesday, February 25th. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and five have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $216.20.

American Tower 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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