American Tower Corporation $AMT Shares Bought by Border to Coast Pensions Partnership Ltd

Key Points

• Border to Coast Pensions Partnership Ltd increased its American Tower stake by 9.3% in the first quarter, buying 37,241 additional shares and bringing its holdings to 437,005 shares worth about $75.6 million.
• Wall Street sentiment is generally positive: several firms recently raised or initiated favorable ratings, and the stock now has a consensus Moderate Buy rating with a price target of $216.95.
• American Tower reported strong Q1 results, beating EPS and revenue estimates, while also announcing a quarterly dividend of $1.79 per share, implying a 4.1% annual yield.

Border to Coast Pensions Partnership Ltd raised its position in shares of American Tower Corporation (NYSE:AMT - Free Report) by 9.3% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 437,005 shares of the real estate investment trust's stock after purchasing an additional 37,241 shares during the quarter. American Tower accounts for 1.3% of Border to Coast Pensions Partnership Ltd's portfolio, making the stock its 20th largest position. Border to Coast Pensions Partnership Ltd owned approximately 0.09% of American Tower worth $75,649,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Richards Merrill & Peterson Inc. purchased a new stake in American Tower in the fourth quarter valued at approximately $25,000. Oakworth Capital Inc. raised its position in American Tower by 90.7% during the 4th quarter. Oakworth Capital Inc. now owns 143 shares of the real estate investment trust's stock worth $25,000 after buying an additional 68 shares during the last quarter. Swiss RE Ltd. purchased a new position in American Tower during the 4th quarter worth approximately $25,000. Holos Integrated Wealth LLC acquired a new stake in American Tower during the 4th quarter valued at approximately $27,000. Finally, Triumph Capital Management acquired a new stake in American Tower during the 3rd quarter valued at approximately $29,000. 92.69% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on AMT. Barclays cut their price objective on shares of American Tower from $200.00 to $195.00 and set an "equal weight" rating on the stock in a research note on Thursday, April 16th. The Goldman Sachs Group started coverage on shares of American Tower in a report on Friday. They issued a "buy" rating and a $215.00 price target on the stock. Weiss Ratings raised American Tower from a "hold (c-)" rating to a "hold (c)" rating in a research report on Monday, May 11th. Royal Bank Of Canada upgraded American Tower from a "sector perform" rating to an "outperform" rating and lifted their price objective for the company from $195.00 to $205.00 in a research note on Friday. Finally, Mizuho raised 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 report on Wednesday, April 15th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, American Tower has a consensus rating of "Moderate Buy" and a consensus price target of $216.95.

Insider Buying and Selling at American Tower

In other news, EVP Ruth T. Dowling sold 556 shares of the stock in a transaction dated Tuesday, April 28th. The shares were sold at an average price of $178.48, for a total transaction of $99,234.88. Following the sale, the executive vice president directly owned 29,877 shares of the company's stock, valued at $5,332,446.96. This represents a 1.83% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.08% of the company's stock.

American Tower Price Performance

NYSE:AMT opened at $175.41 on Friday. The company has a debt-to-equity ratio of 3.07, a current ratio of 0.43 and a quick ratio of 0.43. The firm has a market cap of $81.72 billion, a price-to-earnings ratio of 28.34, a price-to-earnings-growth ratio of 0.73 and a beta of 0.90. The company has a 50 day moving average price of $181.20 and a 200-day moving average price of $179.83. American Tower Corporation has a 1-year low of $165.08 and a 1-year high of $234.33.

American Tower (NYSE:AMT - Get Free Report) last posted its earnings results on Tuesday, April 28th. The real estate investment trust reported $2.84 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $2.74 billion during the quarter, compared to analysts' expectations of $2.66 billion. During the same period in the previous year, the business posted $2.75 EPS. The business's revenue was up 6.8% compared to the same quarter last year. American Tower has set its FY 2026 guidance at 10.900-11.07 EPS. Equities research analysts forecast that American Tower Corporation will post 10.66 EPS for the current year.

American Tower Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 13th. Shareholders of record on Friday, June 12th will be given a $1.79 dividend. The ex-dividend date is Friday, June 12th. This represents a $7.16 dividend on an annualized basis and a dividend yield of 4.1%. American Tower's dividend payout ratio is 115.67%.

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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