American Tower Corporation $AMT Stock Acquired by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management more than doubled its American Tower stake in the third quarter, purchasing 20,521 additional shares for a total holding valued at $6.66 million. Institutional investors own 92.69% of AMT’s outstanding shares.
• Analysts maintain a favorable outlook, with one Strong Buy, 17 Buy, and two Hold ratings, resulting in a consensus “Moderate Buy” rating and a $214.90 price target.
• American Tower reported quarterly EPS of $2.71, beating estimates by $1.14, while revenue rose 4.6% year over year to $2.75 billion. The company also paid a quarterly dividend of $1.79 per share, representing a 3.9% annualized yield.

Assenagon Asset Management S.A. grew its stake in American Tower Corporation (NYSE:AMT - Free Report) by 101.8% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 40,681 shares of the real estate investment trust's stock after purchasing an additional 20,521 shares during the period. Assenagon Asset Management S.A.'s holdings in American Tower were worth $6,659,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the stock. Retirement Planning Co of New England Inc. boosted its stake in shares of American Tower by 2.4% during the 3rd quarter. Retirement Planning Co of New England Inc. now owns 4,665 shares of the real estate investment trust's stock worth $764,000 after purchasing an additional 111 shares during the period. State of Alaska Department of Revenue increased its stake in shares of American Tower by 1.2% during the third quarter. State of Alaska Department of Revenue now owns 281,580 shares of the real estate investment trust's stock valued at $46,649,000 after buying an additional 3,359 shares during the period. Mainsail Asset Management LLC bought a new stake in shares of American Tower in the third quarter valued at about $307,000. Fort Washington Investment Advisors Inc. OH raised its holdings in shares of American Tower by 2.3% in the third quarter. Fort Washington Investment Advisors Inc. OH now owns 374,918 shares of the real estate investment trust's stock valued at $61,370,000 after acquiring an additional 8,280 shares in the last quarter. Finally, William Allan Corp lifted its stake in American Tower by 4.7% in the third quarter. William Allan Corp now owns 1,391 shares of the real estate investment trust's stock worth $228,000 after acquiring an additional 62 shares during the period. 92.69% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. BMO Capital Markets increased their price objective on shares of American Tower from $190.00 to $195.00 and gave the company a "market perform" rating in a research note on Wednesday, July 29th. TD Cowen lifted their target price on American Tower from $225.00 to $227.00 and gave the company a "buy" rating in a research note on Wednesday, July 29th. Wolfe Research upgraded shares of American Tower from a "peer perform" rating to an "outperform" rating and set a $188.00 target price for the company in a report on Wednesday, July 8th. Scotiabank reissued an "outperform" rating on shares of American Tower in a research report on Wednesday, July 29th. Finally, Royal Bank Of Canada upgraded shares of American Tower from a "sector perform" rating to an "outperform" rating and boosted their price objective for the stock from $195.00 to $205.00 in a research note on Friday, June 26th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, American Tower has an average rating of "Moderate Buy" and a consensus price target of $214.90.

Insiders Place Their Bets

In other news, CFO Robert Joseph Meyer sold 5,000 shares of the stock in a transaction dated Wednesday, July 29th. The stock was sold at an average price of $178.89, for a total value of $894,450.00. Following the transaction, the chief financial officer directly owned 21,428 shares of the company's stock, valued at approximately $3,833,254.92. This represents a 18.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Rajesh Kalathur acquired 2,829 shares of American Tower stock in a transaction dated Friday, August 21st. The stock was purchased at an average price of $177.00 per share, with a total value of $500,733.00. Following the completion of the purchase, the director owned 7,765 shares of the company's stock, valued at approximately $1,374,405. The trade was a 57.31% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last quarter, insiders have sold 6,791 shares of company stock valued at $1,204,091. Insiders own 0.08% of the company's stock.

American Tower Price Performance

Shares of AMT stock opened at $183.38 on Wednesday. American Tower Corporation has a fifty-two week low of $160.06 and a fifty-two week high of $196.08. The firm has a market capitalization of $85.45 billion, a price-to-earnings ratio of 16.70, a PEG ratio of 2.94 and a beta of 0.88. The company has a debt-to-equity ratio of 3.12, a quick ratio of 0.52 and a current ratio of 0.52. The stock's 50-day simple moving average is $174.13 and its 200-day simple moving average is $175.55.

American Tower (NYSE:AMT - Get Free Report) last posted its quarterly earnings data on Tuesday, July 28th. The real estate investment trust reported $2.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.57 by $1.14. The firm had revenue of $2.75 billion for the quarter, compared to the consensus estimate of $2.70 billion. American Tower had a net margin of 31.08% and a return on equity of 32.76%. The company's revenue for the quarter was up 4.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.60 earnings per share. American Tower has set its FY 2026 guidance at 11.000-11.170 EPS. As a group, equities analysts forecast that American Tower Corporation will post 10.80 earnings per share for the current fiscal year.

American Tower Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 20th. Shareholders of record on Wednesday, September 30th were given a dividend of $1.79 per share. This represents a $7.16 annualized dividend and a yield of 3.9%. The ex-dividend date of this dividend was Wednesday, September 30th. American Tower's payout ratio is currently 98.49%.

American Tower Profile

American Tower Corporation NYSE: AMT is a real estate investment trust that owns, operates and develops wireless communications infrastructure. Its portfolio primarily includes communications towers, rooftop sites, distributed antenna systems and other infrastructure used by wireless carriers, broadcasters, governments and businesses to support voice, data and video communications.

The company leases space on its sites to multiple customers, allowing them to install antennas and related equipment without building and maintaining individual tower locations.

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