American Tower Corporation $AMT Stake Raised by Andra AP fonden

Key Points

• Andra AP fonden increased its stake in American Tower by 47% in the fourth quarter, buying 39,511 additional shares and bringing its total to 123,600 shares worth about $21.7 million.
• American Tower reported strong quarterly results, with EPS of $2.84 versus the $1.60 consensus estimate and revenue of $2.74 billion, up 6.8% year over year.
• The company declared a quarterly dividend of $1.79 per share, which annualizes to $7.16 and implies a 3.8% yield, though the payout ratio is elevated at 115.67%.

Andra AP fonden grew its holdings in shares of American Tower Corporation (NYSE:AMT - Free Report) by 47.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 123,600 shares of the real estate investment trust's stock after buying an additional 39,511 shares during the period. Andra AP fonden's holdings in American Tower were worth $21,700,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in shares of American Tower by 1.0% during the 3rd quarter. Vanguard Group Inc. now owns 63,640,168 shares of the real estate investment trust's stock valued at $12,239,277,000 after acquiring an additional 611,801 shares in the last quarter. Geode Capital Management LLC lifted its position in American Tower by 1.7% during the 4th quarter. Geode Capital Management LLC now owns 13,499,035 shares of the real estate investment trust's stock worth $2,361,675,000 after acquiring an additional 227,361 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its position in American Tower by 20,721.6% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 9,712,672 shares of the real estate investment trust's stock worth $1,705,254,000 after acquiring an additional 9,666,025 shares during the last quarter. Invesco Ltd. increased its holdings in shares of American Tower by 3.1% during the 3rd quarter. Invesco Ltd. now owns 6,888,633 shares of the real estate investment trust's stock worth $1,324,822,000 after purchasing an additional 208,109 shares during the period. Finally, Norges Bank bought a new position in shares of American Tower during the 4th quarter worth about $1,171,180,000. Institutional investors own 92.69% of the company's stock.

American Tower Stock Down 1.5%

Shares of AMT stock opened at $189.65 on Friday. The firm has a fifty day moving average of $180.69 and a 200-day moving average of $179.87. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 3.07. American Tower Corporation has a 12-month low of $165.08 and a 12-month high of $234.33. The company has a market capitalization of $88.35 billion, a price-to-earnings ratio of 30.64, a P/E/G ratio of 0.80 and a beta of 0.90.

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 for the quarter, beating analysts' consensus estimates of $1.60 by $1.24. The business had revenue of $2.74 billion during the quarter, compared to the consensus estimate 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 for the quarter was up 6.8% compared to the same quarter last year. During the same quarter last 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 predict that American Tower Corporation will post 10.67 earnings per share for the current fiscal year.

American Tower Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 13th. Shareholders of record on Friday, June 12th will be paid a $1.79 dividend. The ex-dividend date is Friday, June 12th. This represents a $7.16 annualized dividend and a yield of 3.8%. American Tower's payout ratio is 115.67%.

Insider Buying and Selling

In other news, EVP Ruth T. Dowling sold 556 shares of the company's 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 sale, the executive vice president owned 29,877 shares of the company's stock, valued at approximately $5,332,446.96. This represents a 1.83% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.08% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

AMT has been the topic of a number of analyst reports. Weiss Ratings raised shares of American Tower from a "hold (c-)" rating to a "hold (c)" rating in a research note on Monday, May 11th. Scotiabank upped their target price on shares of American Tower from $214.00 to $218.00 and gave the company an "outperform" rating in a research note on Wednesday, April 29th. Royal Bank Of Canada reissued a "sector perform" rating and issued a $195.00 target price on shares of American Tower in a research note on Thursday, April 30th. Truist Financial upped their target price on shares of American Tower from $205.00 to $208.00 and gave the company a "buy" rating in a research note on Thursday, April 30th. Finally, JPMorgan Chase & Co. lowered their target price on shares of American Tower from $245.00 to $240.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 29th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and five have issued a Hold rating to the company's stock. According to MarketBeat.com, American Tower currently has an average rating of "Moderate Buy" and a consensus target price of $216.20.

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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