American Tower Corporation $AMT Shares Bought by CIBC Asset Management Inc

Key Points

• CIBC Asset Management increased its American Tower stake by 56.4% in the fourth quarter, buying an additional 44,404 shares and bringing its total to 123,088 shares worth about $21.6 million.
• American Tower reported strong quarterly results, with EPS of $2.84 beating estimates of $1.60 and revenue of $2.74 billion topping expectations. Revenue rose 6.8% year over year, and the company issued FY 2026 EPS guidance of 10.90 to 11.07.
• The company also declared a quarterly dividend of $1.79 per share, payable July 13, implying an annualized yield of 3.7%. Meanwhile, analysts remain broadly positive, with an average rating of “Moderate Buy” and an average price target of $216.20.

CIBC Asset Management Inc lifted its holdings in American Tower Corporation (NYSE:AMT - Free Report) by 56.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 123,088 shares of the real estate investment trust's stock after purchasing an additional 44,404 shares during the period. CIBC Asset Management Inc's holdings in American Tower were worth $21,611,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Marble Wealth LLC bought a new position in shares of American Tower in the fourth quarter valued at $222,000. Capital Innovations LLC bought a new stake in shares of American Tower during the 4th quarter worth $10,345,000. Greenwich Wealth Management LLC boosted its stake in shares of American Tower by 8.4% during the 4th quarter. Greenwich Wealth Management LLC now owns 3,882 shares of the real estate investment trust's stock worth $682,000 after acquiring an additional 300 shares in the last quarter. Fiduciary Family Office LLC boosted its stake in shares of American Tower by 109.0% during the 4th quarter. Fiduciary Family Office LLC now owns 5,210 shares of the real estate investment trust's stock worth $915,000 after acquiring an additional 2,717 shares in the last quarter. Finally, Beto Financial Group LLC acquired a new stake in shares of American Tower during the fourth quarter worth $354,000. 92.69% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on AMT shares. UBS Group reduced their target price on American Tower from $254.00 to $248.00 and set a "buy" rating for the company in a report on Wednesday, February 25th. BMO Capital Markets lifted their price target on American Tower from $185.00 to $200.00 and gave the stock a "market perform" rating in a research note on Wednesday, February 25th. Truist Financial boosted their price objective on American Tower from $205.00 to $208.00 and gave the stock a "buy" rating in a report on Thursday, April 30th. JPMorgan Chase & Co. reduced their price objective on shares of American Tower from $245.00 to $240.00 and set an "overweight" rating for the company in a research note on Wednesday, April 29th. Finally, Sanford C. Bernstein upgraded shares of American Tower from a "market perform" rating to an "outperform" rating and set a $207.00 target price for the company in a report on Tuesday, May 19th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $216.20.

Insiders Place Their Bets

In related news, EVP Ruth T. Dowling sold 416 shares of the stock in a transaction on Wednesday, April 29th. The stock was 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 approximately $5,230,505.94. This trade represents 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 accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Rajesh Kalathur acquired 2,671 shares of American Tower stock in a transaction that occurred on Tuesday, March 10th. The shares were purchased at an average cost of $185.30 per share, with a total value of $494,936.30. Following the transaction, the director owned 4,936 shares of the company's stock, valued at approximately $914,640.80. The trade was a 117.92% increase in their position. The SEC filing for this purchase provides additional information. Company insiders own 0.08% of the company's stock.

American Tower Trading Up 6.6%

NYSE:AMT opened at $194.34 on Friday. The stock has a market cap of $90.54 billion, a PE ratio of 31.40, a price-to-earnings-growth ratio of 0.76 and a beta of 0.90. American Tower Corporation has a fifty-two week low of $165.08 and a fifty-two week high of $234.33. 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 stock's 50-day moving average is $178.55 and its two-hundred day moving average is $179.48.

American Tower (NYSE:AMT - Get Free Report) last posted its quarterly earnings results on Tuesday, April 28th. The real estate investment trust reported $2.84 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.60 by $1.24. The business had revenue of $2.74 billion during the quarter, compared to analyst estimates 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 was up 6.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.75 earnings per share. American Tower has set its FY 2026 guidance at 10.900-11.07 EPS. As a group, equities research analysts forecast that American Tower Corporation will post 10.67 earnings per share for the current fiscal year.

American Tower Announces Dividend

The business also recently announced 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 yield of 3.7%. American Tower's dividend payout ratio is presently 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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