American Tower Corporation $AMT Shares Bought by Swiss Life Asset Management Ltd

Key Points

• Swiss Life Asset Management boosted its stake in American Tower by 13.9% in the fourth quarter, bringing its holdings to 101,993 shares worth about $17.9 million.
• American Tower reported strong quarterly results, with EPS of $2.84 beating estimates by $1.24 and revenue of $2.74 billion topping forecasts, while revenue rose 6.8% year over year.
• The company also raised its quarterly dividend to $1.79 per share, or $7.16 annualized, for a 4.0% yield, though the payout ratio remains elevated at 115.67%.

Swiss Life Asset Management Ltd raised its holdings in American Tower Corporation (NYSE:AMT - Free Report) by 13.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 101,993 shares of the real estate investment trust's stock after acquiring an additional 12,464 shares during the period. Swiss Life Asset Management Ltd's holdings in American Tower were worth $17,907,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Oakworth Capital Inc. raised its holdings in American Tower by 90.7% in the 4th quarter. Oakworth Capital Inc. now owns 143 shares of the real estate investment trust's stock valued at $25,000 after acquiring an additional 68 shares during the last quarter. Richards Merrill & Peterson Inc. acquired a new stake in American Tower in the 4th quarter valued at about $25,000. Triumph Capital Management acquired a new stake in American Tower in the 3rd quarter valued at about $29,000. Holos Integrated Wealth LLC acquired a new stake in American Tower in the 4th quarter valued at about $27,000. Finally, Root Financial Partners LLC acquired a new stake in American Tower in the 3rd quarter valued at about $32,000. Institutional investors and hedge funds own 92.69% of the company's stock.

American Tower Stock Performance

American Tower stock opened at $177.44 on Tuesday. The firm has a 50 day simple moving average of $179.18 and a 200-day simple moving average of $179.52. American Tower Corporation has a 1-year low of $165.08 and a 1-year 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 has a market cap of $82.67 billion, a price-to-earnings ratio of 28.67, a price-to-earnings-growth ratio of 0.74 and a beta of 0.90.

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 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 business had revenue of $2.74 billion during the quarter, compared to analysts' expectations of $2.66 billion. During the same quarter in the prior year, the company posted $2.75 EPS. The business's revenue for the quarter was up 6.8% on a year-over-year basis. American Tower has set its FY 2026 guidance at 10.900-11.07 EPS. On average, analysts expect that American Tower Corporation will post 10.67 EPS for the current year.

American Tower Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 28th. Investors of record on Tuesday, April 14th were given a dividend of $1.79 per share. This represents a $7.16 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date of this dividend was Tuesday, April 14th. This is an increase from American Tower's previous quarterly dividend of $1.70. American Tower's dividend payout ratio is 115.67%.

Analyst Ratings Changes

A number of analysts have commented on the stock. Jefferies Financial Group increased their price objective on shares of American Tower from $209.00 to $210.00 and gave the company a "buy" rating in a report on Tuesday, April 14th. Citizens Jmp reiterated a "market outperform" rating and issued a $260.00 price objective on shares of American Tower in a report on Wednesday, April 29th. Truist Financial increased their price objective on shares of American Tower from $205.00 to $208.00 and gave the company a "buy" rating in a report on Thursday, April 30th. Mizuho raised shares of American Tower from a "neutral" rating to an "outperform" rating and increased their price target for the company from $189.00 to $205.00 in a research note on Wednesday, April 15th. Finally, JPMorgan Chase & Co. dropped their price target 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. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, American Tower has an average rating of "Moderate Buy" and an average price target of $218.05.

Insider Buying and Selling

In related news, EVP Ruth T. Dowling sold 556 shares of the 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 completion of the transaction, the executive vice president owned 29,877 shares of the company's stock, valued at approximately $5,332,446.96. This trade represents a 1.83% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Rajesh Kalathur acquired 2,671 shares of the stock in a transaction that occurred on Tuesday, March 10th. The shares were bought at an average cost of $185.30 per share, with a total value of $494,936.30. Following the transaction, the director directly owned 4,936 shares in the company, valued at $914,640.80. This trade represents a 117.92% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last quarter, insiders sold 42,181 shares of company stock valued at $8,046,071. Company insiders own 0.08% of the company's stock.

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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