American Tower Corporation $AMT Shares Purchased by Rathbones Group PLC

Key Points

• Rathbones Group increased its American Tower stake by 8.1% in the first quarter, bringing its holdings to 512,409 shares valued at approximately $88.4 million. Institutional investors and hedge funds collectively own 92.69% of AMT.
• American Tower recently paid a quarterly dividend of $1.79 per share, equivalent to an annualized $7.16 dividend and a 4.1% yield. However, its 98.49% payout ratio and 3.12 debt-to-equity ratio highlight financial and interest-rate sensitivity.
• Analysts maintain a generally positive view, with AMT carrying a consensus “Moderate Buy” rating and an average price target of $215.19 versus its recent price near $173.82. Meanwhile, company insiders sold 6,791 shares worth about $1.2 million over the past 90 days.

Rathbones Group PLC lifted its stake in American Tower Corporation (NYSE:AMT - Free Report) by 8.1% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 512,409 shares of the real estate investment trust's stock after purchasing an additional 38,193 shares during the quarter. Rathbones Group PLC owned 0.11% of American Tower worth $88,432,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of AMT. J. Stern & Co. LLP increased its holdings in American Tower by 28,121.1% in 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 buying an additional 37,553,436 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its stake in American Tower by 20,721.6% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 9,712,672 shares of the real estate investment trust's stock valued at $1,705,254,000 after acquiring an additional 9,666,025 shares during the last quarter. Norges Bank bought a new stake in American Tower in the fourth quarter worth approximately $1,171,180,000. Lazard Asset Management LLC increased its stake in shares of American Tower by 1,984.8% during the 3rd quarter. Lazard Asset Management LLC now owns 4,464,382 shares of the real estate investment trust's stock worth $858,552,000 after purchasing an additional 4,250,242 shares during the last quarter. Finally, Capital International Investors raised its holdings in shares of American Tower by 157.0% during 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 purchasing an additional 2,364,898 shares in the last quarter. Institutional investors and hedge funds own 92.69% of the company's stock.

Insider Buying and Selling at American Tower

In related news, CFO Robert Joseph Meyer sold 5,000 shares of the stock in a transaction that occurred on Wednesday, July 29th. The shares were sold at an average price of $178.89, for a total value of $894,450.00. Following the sale, the chief financial officer directly owned 21,428 shares in the company, valued at $3,833,254.92. This trade represents a 18.92% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Ruth T. Dowling sold 1,106 shares of American Tower stock in a transaction dated Wednesday, July 29th. The shares were sold at an average price of $174.96, for a total value of $193,505.76. Following the transaction, the executive vice president owned 27,711 shares in the company, valued at $4,848,316.56. This trade represents a 3.84% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 6,791 shares of company stock worth $1,204,091 over the last 90 days. 0.08% of the stock is owned by corporate insiders.

American Tower Price Performance

Shares of AMT stock opened at $173.82 on Monday. American Tower Corporation has a 1 year low of $160.06 and a 1 year high of $217.39. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 3.12. The firm's 50 day moving average is $175.87 and its 200-day moving average is $178.44. The firm has a market capitalization of $80.98 billion, a price-to-earnings ratio of 23.91, a PEG ratio of 2.78 and a beta of 0.91.

American Tower Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, July 13th. Stockholders of record on Friday, June 12th were paid a $1.79 dividend. The ex-dividend date of this dividend was 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 98.49%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on AMT. JPMorgan Chase & Co. cut their target price on shares of American Tower from $245.00 to $240.00 and set an "overweight" rating for the company in a research report on Wednesday, April 29th. Raymond James Financial reaffirmed a "strong-buy" rating and issued a $240.00 price target on shares of American Tower in a research report on Wednesday, April 29th. TD Cowen lifted their price objective on American Tower from $225.00 to $227.00 and gave the stock a "buy" rating in a research note on Wednesday. Royal Bank Of Canada upgraded American Tower from a "sector perform" rating to an "outperform" rating and increased their target price for the company from $195.00 to $205.00 in a research note on Friday, June 26th. Finally, Jefferies Financial Group lowered their target price on American Tower from $210.00 to $201.00 and set a "buy" rating on the stock in a report on Wednesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $215.19.

American Tower News Roundup

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

• Positive Sentiment: Analysts raised their valuation expectations for American Tower. One firm lifted its price target to $220, while BMO Capital Markets increased its target to $195, suggesting potential upside from recent trading levels. American Tower Price Target Raised to $220 BMO Raises American Tower Price Target
• Positive Sentiment: American Tower’s latest results were stronger than expected, with revenue up 6.8% year over year to $2.74 billion and EPS of $2.84 versus the $1.60 consensus estimate. Record CoreSite data-center leasing and continued demand from cloud and artificial-intelligence infrastructure provide additional growth support.
• Neutral Sentiment: EVP Ruth Dowling sold 1,791 shares across two transactions for approximately $309,641 under a pre-arranged Rule 10b5-1 plan. Because the sales were scheduled and she retained a sizable stake, the transactions are a limited signal about management’s outlook. SEC Insider Trading Filing
• Negative Sentiment: CFO Robert Joseph Meyer sold 5,000 shares worth approximately $894,450, reducing his ownership by 18.92%. Although the sale does not necessarily indicate deteriorating fundamentals, the larger transaction may weigh on investor sentiment. CFO SEC Insider Trading Filing
• Negative Sentiment: American Tower remains highly leveraged, with a debt-to-equity ratio of 3.12, making it sensitive to higher interest rates. Rising borrowing costs can pressure REIT valuations and reduce the appeal of its approximately 4.1% dividend yield.

About American Tower

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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