American Tower Corporation $AMT Shares Bought by Bessemer Group Inc.

Key Points

• Bessemer Group Inc. increased its stake in American Tower by 4.6% in the first quarter, buying 12,363 more shares and bringing its total holdings to 282,676 shares worth about $48.8 million.
• American Tower reported better-than-expected first-quarter earnings, posting $2.84 per share versus the $1.60 consensus estimate, while revenue of $2.74 billion also topped expectations.
• The company paid a quarterly dividend of $1.79 per share, equal to an annualized yield of 4.2%, though its dividend payout ratio is elevated at 115.67%.

Bessemer Group Inc. raised its stake in American Tower Corporation (NYSE:AMT - Free Report) by 4.6% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 282,676 shares of the real estate investment trust's stock after buying an additional 12,363 shares during the quarter. Bessemer Group Inc. owned approximately 0.06% of American Tower worth $48,784,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of AMT. J. Stern & Co. LLP lifted its stake in American Tower by 28,121.1% during the fourth quarter. J. Stern & Co. LLP now owns 37,686,978 shares of the real estate investment trust's stock worth $6,616,703,000 after purchasing an additional 37,553,436 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its position in shares of American Tower by 20,721.6% during the fourth 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 buying an additional 9,666,025 shares during the period. Norges Bank acquired a new stake in shares of American Tower in the fourth quarter valued at $1,171,180,000. Lazard Asset Management LLC raised its holdings in shares of American Tower by 1,984.8% in the 3rd 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 period. Finally, Capital International Investors raised its holdings in shares of American Tower by 157.0% in the 4th quarter. Capital International Investors now owns 3,871,368 shares of the real estate investment trust's stock valued at $679,696,000 after buying an additional 2,364,898 shares during the period. Hedge funds and other institutional investors own 92.69% of the company's stock.

American Tower Price Performance

AMT stock opened at $170.13 on Friday. The business has a 50 day moving average price of $177.64 and a 200 day moving average price of $178.70. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 3.07. The stock has a market cap of $79.26 billion, a price-to-earnings ratio of 27.48, a PEG ratio of 0.71 and a beta of 0.91. American Tower Corporation has a fifty-two week low of $160.06 and a fifty-two week high of $234.33.

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. Equities research analysts anticipate that American Tower Corporation will post 10.66 earnings per share for the current fiscal year.

American Tower Dividend Announcement

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

Insider Buying and Selling

In related news, EVP Ruth T. Dowling sold 416 shares of the business's stock in a transaction on Wednesday, April 29th. The shares were 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 $5,230,505.94. The trade was a 1.39% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.08% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

AMT has been the subject of a number of research reports. Weiss Ratings upgraded shares of American Tower from a "hold (c-)" rating to a "hold (c)" rating in a report on Tuesday. Citizens Jmp reissued a "market outperform" rating and issued a $260.00 price target on shares of American Tower in a research report on Wednesday, April 29th. Sanford C. Bernstein upgraded shares of American Tower from a "market perform" rating to an "outperform" rating and set a $207.00 price target for the company in a research note on Tuesday, May 19th. Barclays cut their price objective on American Tower from $200.00 to $195.00 and set an "equal weight" rating on the stock in a research report on Thursday, April 16th. Finally, Raymond James Financial reiterated a "strong-buy" rating and issued a $240.00 price objective on shares of American Tower in a research note on Wednesday, April 29th. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, American Tower currently has a consensus rating of "Moderate Buy" and an average price target of $215.57.

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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