American Tower Corporation $AMT Shares Acquired by Geode Capital Management LLC

Key Points

• Geode Capital Management increased its stake in American Tower by 1.7% in the fourth quarter, buying an additional 227,361 shares and bringing its total holding to 13.5 million shares valued at about $2.36 billion.
• American Tower reported strong first-quarter results, with EPS of $2.84 beating estimates of $1.60 and revenue of $2.74 billion topping expectations. The company also raised its FY 2026 guidance to $10.90-$11.07 EPS.
• The stock has continued to draw generally bullish analyst sentiment, with a consensus rating of “Moderate Buy” and an average price target of $216.20, while the company also announced a quarterly dividend of $1.79 per share.

Geode Capital Management LLC lifted its holdings in shares of American Tower Corporation (NYSE:AMT - Free Report) by 1.7% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 13,499,035 shares of the real estate investment trust's stock after purchasing an additional 227,361 shares during the quarter. Geode Capital Management LLC owned about 2.88% of American Tower worth $2,361,675,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in the company. GS Investments Inc. raised its holdings in American Tower by 3.9% in the fourth quarter. GS Investments Inc. now owns 4,773 shares of the real estate investment trust's stock valued at $838,000 after acquiring an additional 180 shares in the last quarter. Poinciana Advisors Group LLC acquired a new stake in American Tower in the fourth quarter valued at approximately $241,000. Integrity Alliance LLC. raised its holdings in American Tower by 17.6% in the fourth quarter. Integrity Alliance LLC. now owns 1,849 shares of the real estate investment trust's stock valued at $325,000 after acquiring an additional 277 shares in the last quarter. AlphaQuest LLC raised its holdings in American Tower by 64.0% in the fourth quarter. AlphaQuest LLC now owns 14,093 shares of the real estate investment trust's stock valued at $2,474,000 after acquiring an additional 5,501 shares in the last quarter. Finally, Smithfield Trust Co raised its holdings in American Tower by 3.8% in the fourth quarter. Smithfield Trust Co now owns 3,965 shares of the real estate investment trust's stock valued at $697,000 after acquiring an additional 146 shares in the last quarter. Institutional investors and hedge funds own 92.69% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on AMT shares. TD Cowen reduced their target price on shares of American Tower from $235.00 to $225.00 in a report on Wednesday, February 25th. Weiss Ratings raised shares of American Tower from a "hold (c-)" rating to a "hold (c)" rating in a report on Monday, May 11th. Jefferies Financial Group raised their target price on shares of American Tower from $209.00 to $210.00 and gave the company a "buy" rating in a report on Tuesday, April 14th. Raymond James Financial reissued a "strong-buy" rating and set a $240.00 price objective on shares of American Tower in a report on Wednesday, April 29th. Finally, Mizuho raised shares of American Tower from a "neutral" rating to an "outperform" rating and raised their price objective for the stock from $189.00 to $205.00 in a report on Wednesday, April 15th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $216.20.

American Tower Stock Down 0.0%

AMT stock opened at $184.93 on Thursday. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 3.07. American Tower Corporation has a twelve month low of $165.08 and a twelve month high of $234.33. The company's 50 day moving average is $177.51 and its two-hundred day moving average is $179.25. The stock has a market cap of $86.16 billion, a P/E ratio of 29.88, a PEG ratio of 0.77 and a beta of 0.90.

American Tower (NYSE:AMT - Get Free Report) last released its quarterly earnings data on Tuesday, April 28th. The real estate investment trust reported $2.84 earnings per share for the quarter, topping analysts' consensus estimates of $1.60 by $1.24. The company had revenue of $2.74 billion for 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%. The firm's revenue for the quarter was up 6.8% on a year-over-year basis. During the same quarter last year, the company earned $2.75 earnings per share. American Tower has set its FY 2026 guidance at 10.900-11.07 EPS. Research analysts expect that American Tower Corporation will post 10.67 earnings per share for the current fiscal year.

American Tower Dividend Announcement

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 $1.79 dividend. This represents a $7.16 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date is Friday, June 12th. American Tower's dividend payout ratio (DPR) is 115.67%.

Insider Activity at American Tower

In related news, EVP Ruth T. Dowling sold 556 shares of American Tower stock in a transaction on Tuesday, April 28th. The shares were sold at an average price of $178.48, for a total value of $99,234.88. Following the transaction, the executive vice president directly owned 29,877 shares in the company, valued at $5,332,446.96. This trade represents a 1.83% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Eugene M. Noel sold 41,209 shares of American Tower stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $191.05, for a total transaction of $7,872,979.45. Following the completion of the transaction, the chief operating officer owned 29,592 shares in the company, valued at approximately $5,653,551.60. This trade represents a 58.20% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 42,181 shares of company stock worth $8,046,071 in the last three months. Insiders own 0.08% of the company's stock.

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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