American Tower Corporation $AMT Shares Bought by Legal & General Group Plc

Key Points

• Legal & General Group Plc increased its stake in American Tower by 4.7% in the fourth quarter, adding 220,447 shares and bringing its holdings to about 4.87 million shares valued at roughly $855.7 million.
• American Tower’s latest quarterly results topped expectations, with EPS of $2.84 versus a $1.60 estimate and revenue of $2.74 billion, up 6.8% year over year. The company also reaffirmed a full-year outlook and provided FY 2026 EPS guidance of 10.90 to 11.07.
• The company declared a quarterly dividend of $1.79 per share, payable July 13, which annualizes to $7.16 per share and a 3.9% yield. Analysts remain mostly positive, with a consensus rating of Moderate Buy and an average price target of $216.20.

Legal & General Group Plc raised its position in American Tower Corporation (NYSE:AMT - Free Report) by 4.7% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 4,873,695 shares of the real estate investment trust's stock after acquiring an additional 220,447 shares during the period. Legal & General Group Plc owned approximately 1.04% of American Tower worth $855,675,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of American Tower by 8.9% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 96,793 shares of the real estate investment trust's stock worth $18,615,000 after acquiring an additional 7,872 shares during the period. Krilogy Financial LLC acquired a new stake in shares of American Tower in the 3rd quarter worth $1,044,000. Machina Capital S.A.S. acquired a new stake in shares of American Tower in the 3rd quarter worth $2,871,000. Commerzbank Aktiengesellschaft FI lifted its stake in shares of American Tower by 92.4% in the 3rd quarter. Commerzbank Aktiengesellschaft FI now owns 61,397 shares of the real estate investment trust's stock worth $11,808,000 after acquiring an additional 29,486 shares during the period. Finally, National Pension Service increased its holdings in shares of American Tower by 2.5% in the 3rd quarter. National Pension Service now owns 1,240,270 shares of the real estate investment trust's stock valued at $238,529,000 after purchasing an additional 30,368 shares in the last quarter. Institutional investors and hedge funds own 92.69% of the company's stock.

Wall Street Analyst Weigh In

AMT has been the subject of a number of research analyst reports. Scotiabank increased their price target on shares of American Tower from $214.00 to $218.00 and gave the company an "outperform" rating in a report on Wednesday, April 29th. Raymond James Financial reiterated a "strong-buy" rating and issued a $240.00 price target on shares of American Tower in a 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 report on Tuesday, May 19th. UBS Group cut their price target on shares of American Tower from $254.00 to $248.00 and set a "buy" rating for the company in a report on Wednesday, February 25th. Finally, Citizens Jmp reiterated a "market outperform" rating and issued a $260.00 price target on shares of American Tower in a report on Wednesday, April 29th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $216.20.

American Tower Price Performance

American Tower stock opened at $183.77 on Monday. American Tower Corporation has a 12-month low of $165.08 and a 12-month high of $234.33. The stock has a market capitalization of $85.62 billion, a P/E ratio of 29.69, a P/E/G ratio of 0.77 and a beta of 0.90. The firm's 50-day moving average is $177.40 and its two-hundred day moving average is $179.13. The company has a debt-to-equity ratio of 3.07, a current ratio of 0.43 and a quick ratio of 0.43.

American Tower (NYSE:AMT - Get Free Report) last released its earnings results 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 business had revenue of $2.74 billion for the quarter, compared to analysts' expectations of $2.66 billion. During the same period last year, the company earned $2.75 earnings per share. The company's quarterly revenue was up 6.8% on a year-over-year basis. American Tower has set its FY 2026 guidance at 10.900-11.07 EPS. Equities analysts predict that American Tower Corporation will post 10.67 earnings per share for the current year.

American Tower Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 13th. Investors of record on Friday, June 12th will be given a $1.79 dividend. The ex-dividend date of this dividend is Friday, June 12th. This represents a $7.16 annualized dividend and a dividend yield of 3.9%. American Tower's dividend payout ratio (DPR) is currently 115.67%.

Insider Activity at American Tower

In other American Tower news, EVP Ruth T. Dowling sold 556 shares of American Tower stock in a transaction that occurred on Tuesday, April 28th. The shares were sold at an average price of $178.48, for a total transaction of $99,234.88. Following the transaction, the executive vice president directly owned 29,877 shares of the company's stock, valued at $5,332,446.96. The trade was a 1.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Eugene M. Noel sold 41,209 shares of American Tower stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $191.05, for a total transaction of $7,872,979.45. Following the transaction, the chief operating officer directly owned 29,592 shares in the company, valued at approximately $5,653,551.60. This trade represents a 58.20% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 42,181 shares of company stock worth $8,046,071. Company insiders own 0.08% of the company's stock.

American Tower News Summary

Here are the key news stories impacting American Tower this week:

• Positive Sentiment: American Tower declared a quarterly dividend of $1.79 per share, payable July 13 to shareholders of record on June 12, reinforcing its income appeal and signaling continued confidence in cash flows. American Tower Corporation Declares Quarterly Distribution
• Positive Sentiment: Shareholders also approved a new 2026 equity incentive plan, which may help align management with long-term growth execution and retention. American Tower Shareholders Approve New Equity Incentive Plan

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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