American Tower Corporation $AMT Shares Acquired by State Street Corp

Key Points

• State Street increased its American Tower stake by 2.9% in the second quarter, adding 631,593 shares to own 22.1 million shares worth approximately $3.65 billion. Institutional investors collectively own 92.69% of the company.
• American Tower reported quarterly EPS of $2.71, beating estimates of $1.57, while revenue rose 4.6% year over year to $2.75 billion. The company issued FY 2026 EPS guidance of $11.00–$11.17.
• The company declared a quarterly dividend of $1.79 per share, or $7.16 annualized, representing a 4.1% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $215.29, above the reported share price of $175.10.

State Street Corp boosted its holdings in American Tower Corporation (NYSE:AMT - Free Report) by 2.9% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 22,066,202 shares of the real estate investment trust's stock after acquiring an additional 631,593 shares during the period. State Street Corp owned 4.74% of American Tower worth $3,647,491,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Operose Advisors LLC purchased a new position in shares of American Tower during the 2nd quarter worth $25,000. Allied Private Wealth LLC purchased a new position in American Tower during the second quarter worth about $29,000. Mowery & Schoenfeld Wealth Management LLC acquired a new stake in shares of American Tower during the second quarter valued at about $33,000. Cache Advisors LLC purchased a new stake in shares of American Tower in the 1st quarter valued at approximately $38,000. Finally, Bayban purchased a new stake in shares of American Tower in the 4th quarter valued at approximately $39,000. 92.69% of the stock is currently owned by hedge funds and other institutional investors.

American Tower Price Performance

Shares of NYSE AMT opened at $175.10 on Wednesday. The company has a debt-to-equity ratio of 3.12, a current ratio of 0.52 and a quick ratio of 0.52. The company has a market cap of $81.59 billion, a price-to-earnings ratio of 24.09, a price-to-earnings-growth ratio of 2.80 and a beta of 0.89. The stock's 50-day moving average is $173.23 and its two-hundred day moving average is $176.44. American Tower Corporation has a 1-year low of $160.06 and a 1-year high of $197.40.

American Tower (NYSE:AMT - Get Free Report) last released its quarterly earnings data on Tuesday, July 28th. The real estate investment trust reported $2.71 EPS for the quarter, beating analysts' consensus estimates of $1.57 by $1.14. The business had revenue of $2.75 billion for the quarter, compared to the consensus estimate of $2.70 billion. American Tower had a return on equity of 32.76% and a net margin of 31.08%.The business's revenue for the quarter was up 4.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.60 EPS. American Tower has set its FY 2026 guidance at 11.000-11.170 EPS. Analysts forecast that American Tower Corporation will post 10.8 EPS for the current fiscal year.

American Tower Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 20th. Stockholders of record on Wednesday, September 30th will be paid a dividend of $1.79 per share. This represents a $7.16 annualized dividend and a dividend yield of 4.1%. The ex-dividend date is Wednesday, September 30th. American Tower's dividend payout ratio is 98.49%.

Insider Buying and Selling

In other American Tower news, CFO Robert Joseph Meyer sold 5,000 shares of the business's stock in a transaction on Wednesday, July 29th. The shares were sold at an average price of $178.89, for a total value of $894,450.00. Following the transaction, the chief financial officer directly owned 21,428 shares of the company's stock, valued at approximately $3,833,254.92. The trade was a 18.92% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Ruth Dowling sold 1,106 shares of the firm's stock in a transaction on Wednesday, July 29th. The stock was sold at an average price of $174.96, for a total transaction of $193,505.76. Following the completion of the sale, the executive vice president owned 27,711 shares of the company's stock, valued at $4,848,316.56. This trade represents a 3.84% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 6,791 shares of company stock valued at $1,204,091 over the last three months. 0.08% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Mizuho set a $208.00 price objective on shares of American Tower in a research report on Thursday, August 20th. Truist Financial restated a "buy" rating and set a $207.00 price target (down from $208.00) on shares of American Tower in a research note on Wednesday, August 12th. The Goldman Sachs Group set a $210.00 price target on American Tower in a research report on Tuesday, July 28th. Jefferies Financial Group decreased their target price on American Tower from $210.00 to $201.00 and set a "buy" rating on the stock in a research note on Wednesday, July 15th. Finally, Royal Bank Of Canada raised American Tower from a "sector perform" rating to an "outperform" rating and lifted their target price for the company from $195.00 to $205.00 in a research report on Friday, June 26th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $215.29.

About American Tower

American Tower Corporation NYSE: AMT is a global owner, operator and developer of wireless communications infrastructure. The company leases space on communications sites, including towers, rooftops and other structures, to wireless carriers, broadcasters, government agencies and other customers. Its infrastructure supports wireless networks and the transmission of voice, data and video services.

In addition to traditional macro towers, American Tower provides distributed antenna systems and other in-building or venue-based communications solutions designed to improve wireless coverage and capacity.

Want to see what other hedge funds are holding AMT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for American Tower Corporation (NYSE:AMT - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.