American Tower Corporation $AMT Shares Acquired by Bank of New York Mellon Corp

Key Points

• Bank of New York Mellon increased its stake in American Tower by 2.1% in the first quarter, buying an additional 57,595 shares and lifting its holding to 2,773,447 shares worth about $478.6 million.
• American Tower reported better-than-expected quarterly results, with EPS of $2.84 versus estimates of $1.60 and revenue of $2.74 billion versus forecasts of $2.66 billion. The company also raised its FY 2026 EPS guidance to $10.90-$11.07.
• The company paid a quarterly dividend of $1.79 per share, equal to an annualized yield of 4.2%, while analysts remain broadly positive with a consensus Moderate Buy rating and an average price target of $215.57.

Bank of New York Mellon Corp increased its stake in shares of American Tower Corporation (NYSE:AMT - Free Report) by 2.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,773,447 shares of the real estate investment trust's stock after purchasing an additional 57,595 shares during the quarter. Bank of New York Mellon Corp owned 0.60% of American Tower worth $478,642,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the stock. Riverwater Partners LLC raised its position in American Tower by 3.8% in the 4th quarter. Riverwater Partners LLC now owns 1,536 shares of the real estate investment trust's stock valued at $270,000 after purchasing an additional 56 shares in the last quarter. Triumph Capital Management grew its position in shares of American Tower by 37.3% during the fourth quarter. Triumph Capital Management now owns 206 shares of the real estate investment trust's stock worth $36,000 after buying an additional 56 shares in the last quarter. Personal CFO Solutions LLC increased its stake in shares of American Tower by 3.5% during the fourth quarter. Personal CFO Solutions LLC now owns 1,667 shares of the real estate investment trust's stock worth $293,000 after buying an additional 57 shares during the period. Twin City Private Wealth LLC increased its stake in shares of American Tower by 0.7% during the fourth quarter. Twin City Private Wealth LLC now owns 7,799 shares of the real estate investment trust's stock worth $1,382,000 after buying an additional 58 shares during the period. Finally, Asset Advisory Group Inc. raised its holdings in American Tower by 3.0% in the first quarter. Asset Advisory Group Inc. now owns 2,072 shares of the real estate investment trust's stock valued at $358,000 after acquiring an additional 60 shares in the last quarter. Hedge funds and other institutional investors own 92.69% of the company's stock.

Insiders Place Their Bets

In other news, EVP Ruth T. Dowling sold 416 shares of the stock in a transaction that occurred on Wednesday, April 29th. The stock was sold at an average price of $177.54, for a total value of $73,856.64. Following the completion of 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.08% of the company's stock.

American Tower Stock Up 0.1%

Shares of NYSE:AMT opened at $168.87 on Friday. The firm has a 50 day simple moving average of $177.77 and a 200-day simple moving average of $178.76. American Tower Corporation has a twelve month low of $160.06 and a twelve month high of $234.33. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 3.07. The company has a market capitalization of $78.68 billion, a PE ratio of 27.28, a P/E/G ratio of 0.70 and a beta of 0.91.

American Tower (NYSE:AMT - Get Free Report) last announced its quarterly earnings results on Tuesday, April 28th. The real estate investment trust reported $2.84 earnings per share for the quarter, beating analysts' consensus estimates of $1.60 by $1.24. The firm had revenue of $2.74 billion during the quarter, compared to analysts' expectations of $2.66 billion. American Tower had a net margin of 26.81% and a return on equity of 27.79%. American Tower's quarterly revenue was up 6.8% compared to the same quarter last year. During the same period in the previous year, the company earned $2.75 earnings per share. American Tower has set its FY 2026 guidance at 10.900-11.07 EPS. On average, equities analysts predict that American Tower Corporation will post 10.66 EPS for the current fiscal year.

American Tower Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, July 13th. Shareholders of record on Friday, June 12th were given a dividend of $1.79 per share. The ex-dividend date of this dividend was Friday, June 12th. This represents a $7.16 annualized dividend and a yield of 4.2%. American Tower's payout ratio is 115.67%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on AMT shares. Royal Bank Of Canada upgraded shares of American Tower from a "sector perform" rating to an "outperform" rating and lifted their price target for the stock from $195.00 to $205.00 in a research note on Friday, June 26th. Citizens Jmp reissued a "market outperform" rating and issued a $260.00 price objective on shares of American Tower in a research report on Wednesday, April 29th. Wolfe Research upgraded shares of American Tower from a "peer perform" rating to an "outperform" rating and set a $188.00 price objective on the stock in a report on Wednesday, July 8th. Scotiabank lifted their price objective on shares of American Tower from $214.00 to $218.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 29th. Finally, Weiss Ratings upgraded shares of American Tower from a "hold (c-)" rating to a "hold (c)" rating in a research note on Tuesday. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $215.57.

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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