American Tower Corporation $AMT Shares Acquired by Los Angeles Capital Management LLC

Key Points

• Los Angeles Capital Management boosted its American Tower stake by 4.3% in the fourth quarter, adding 7,604 shares to bring its total holdings to 182,612 shares worth about $32.8 million.
• Wall Street sentiment remains constructive, with analysts mostly rating AMT a Moderate Buy and setting an average price target of $216.20.
• American Tower posted a strong quarter, beating earnings and revenue estimates with $2.84 EPS and $2.74 billion in revenue, while also declaring a quarterly dividend of $1.79 per share.

Los Angeles Capital Management LLC increased its position in American Tower Corporation (NYSE:AMT - Free Report) by 4.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 182,612 shares of the real estate investment trust's stock after buying an additional 7,604 shares during the period. Los Angeles Capital Management LLC's holdings in American Tower were worth $32,770,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of AMT. Northwestern Mutual Wealth Management Co. raised its position in shares of American Tower by 20,721.6% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 9,712,672 shares of the real estate investment trust's stock valued at $1,705,254,000 after buying an additional 9,666,025 shares during the last quarter. Norges Bank acquired a new position in shares of American Tower in the fourth quarter valued at approximately $1,171,180,000. Lazard Asset Management LLC raised its position in shares of American Tower by 1,984.8% in the third quarter. Lazard Asset Management LLC now owns 4,464,382 shares of the real estate investment trust's stock valued at $858,552,000 after buying an additional 4,250,242 shares during the last quarter. Viking Global Investors LP raised its position in shares of American Tower by 233.5% in the second quarter. Viking Global Investors LP now owns 2,797,125 shares of the real estate investment trust's stock valued at $618,221,000 after buying an additional 1,958,329 shares during the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC acquired a new position in shares of American Tower in the third quarter valued at approximately $305,872,000. Institutional investors and hedge funds own 92.69% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on AMT shares. Mizuho raised shares of American Tower from a "neutral" rating to an "outperform" rating and boosted their price objective for the company from $189.00 to $205.00 in a research report on Wednesday, April 15th. Citizens Jmp reaffirmed a "market outperform" rating and set a $260.00 price target on shares of American Tower in a research report on Wednesday, April 29th. BMO Capital Markets upped their price target on shares of American Tower from $185.00 to $200.00 and gave the stock a "market perform" rating in a research report on Wednesday, February 25th. JPMorgan Chase & Co. dropped their price target on shares of American Tower from $245.00 to $240.00 and set an "overweight" rating for the company in a research report on Wednesday, April 29th. Finally, Jefferies Financial Group upped their price target 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. One equities research 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 company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $216.20.

American Tower Price Performance

AMT opened at $193.88 on Monday. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 3.07. American Tower Corporation has a 52-week low of $165.08 and a 52-week high of $234.33. The company has a 50 day moving average of $179.08 and a two-hundred day moving average of $179.58. The company has a market cap of $90.33 billion, a P/E ratio of 31.32, a P/E/G ratio of 0.81 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 (EPS) for the quarter, topping 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 during the quarter, compared to the consensus estimate of $2.66 billion. During the same period in the previous year, the firm earned $2.75 earnings per share. 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. On average, analysts expect that American Tower Corporation will post 10.67 earnings per share for the current year.

American Tower Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 13th. Shareholders of record on Friday, June 12th will be paid a dividend of $1.79 per share. This represents a $7.16 annualized dividend and a yield of 3.7%. The ex-dividend date is Friday, June 12th. American Tower's payout ratio is currently 115.67%.

Insider Activity at American Tower

In other American Tower news, EVP Ruth T. Dowling sold 416 shares of the business's stock in a transaction that occurred on Wednesday, April 29th. The shares were sold at an average price of $177.54, for a total transaction of $73,856.64. Following the completion of the sale, the executive vice president directly owned 29,461 shares in the company, valued at $5,230,505.94. The trade was a 1.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Rajesh Kalathur bought 2,671 shares of the firm's stock in a transaction dated Tuesday, March 10th. The stock was purchased at an average price of $185.30 per share, with a total value of $494,936.30. Following the completion of the purchase, the director directly owned 4,936 shares of the company's stock, valued at approximately $914,640.80. This trade represents a 117.92% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 0.08% of the stock is owned by insiders.

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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