American Tower Corporation $AMT Stock: Lmcg Investments LLC Raises Holdings

Key Points

• Lmcg Investments increased its American Tower stake by 26% in the third quarter, bringing its holdings to 59,837 shares valued at approximately $9.8 million. Institutional investors and hedge funds collectively own 92.69% of AMT.
• American Tower reported quarterly earnings of $2.71 per share, beating analyst expectations of $1.57, while revenue rose 4.6% year over year to $2.75 billion. The company also issued a $1.79 quarterly dividend, representing a 4.0% yield.
• Wall Street maintains a positive view of the stock, with an overall “Moderate Buy” rating and an average price target of $214.90, compared with shares trading near $177.45.

Lmcg Investments LLC boosted its holdings in shares of American Tower Corporation (NYSE:AMT - Free Report) by 26.0% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 59,837 shares of the real estate investment trust's stock after buying an additional 12,337 shares during the quarter. Lmcg Investments LLC's holdings in American Tower were worth $9,795,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of AMT. BlackRock Inc. acquired a new stake in shares of American Tower in the second quarter worth $7,490,943,000. State Street Corp lifted its position in American Tower by 2.9% during the second quarter. State Street Corp now owns 22,066,202 shares of the real estate investment trust's stock valued at $3,647,491,000 after purchasing an additional 631,593 shares during the period. Lazard Asset Management LLC lifted its position in American Tower by 20.4% during the first quarter. Lazard Asset Management LLC now owns 7,325,943 shares of the real estate investment trust's stock valued at $1,264,311,000 after purchasing an additional 1,240,780 shares during the period. Deutsche Bank AG purchased a new stake in American Tower in the second quarter valued at $1,096,186,000. Finally, Legal & General Group Plc boosted its holdings in American Tower by 0.6% in the second quarter. Legal & General Group Plc now owns 4,853,850 shares of the real estate investment trust's stock valued at $793,944,000 after purchasing an additional 27,929 shares during the last quarter. 92.69% of the stock is currently owned by institutional investors and hedge funds.

American Tower Price Performance

Shares of American Tower stock opened at $177.45 on Thursday. The business has a 50 day simple moving average of $174.27 and a two-hundred day simple moving average of $175.58. American Tower Corporation has a 12 month low of $160.06 and a 12 month high of $196.08. The stock has a market capitalization of $82.69 billion, a P/E ratio of 24.41, a PEG ratio of 2.95 and a beta of 0.88. The company has a debt-to-equity ratio of 3.12, a current ratio of 0.52 and a quick ratio of 0.52.

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

American Tower Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 20th. Shareholders of record on Wednesday, September 30th were paid a dividend of $1.79 per share. This represents a $7.16 annualized dividend and a yield of 4.0%. The ex-dividend date of this dividend was Wednesday, September 30th. American Tower's payout ratio is 98.49%.

Insider Transactions at American Tower

In other American Tower news, Director Rajesh Kalathur bought 2,829 shares of the company's stock in a transaction dated Friday, August 21st. The stock was acquired at an average price of $177.00 per share, with a total value of $500,733.00. Following the completion of the acquisition, the director directly owned 7,765 shares of the company's stock, valued at $1,374,405. This represents a 57.31% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Ruth Dowling sold 1,106 shares of the stock in a transaction dated Wednesday, July 29th. The shares were sold at an average price of $174.96, for a total transaction of $193,505.76. Following the completion of the sale, the executive vice president owned 27,711 shares of the company's stock, valued at $4,848,316.56. This trade represents a 3.84% decrease in their ownership of the stock. 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 6,791 shares of company stock valued at $1,204,091 over the last 90 days. 0.08% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on AMT. Sanford C. Bernstein cut their price target on American Tower from $214.00 to $212.00 and set an "outperform" rating on the stock in a research report on Tuesday. Weiss Ratings cut American Tower from a "hold (c)" rating to a "hold (c-)" rating in a report on Thursday, October 8th. The Goldman Sachs Group set a $210.00 price objective on American Tower in a report on Tuesday, July 28th. BMO Capital Markets upped their target price on American Tower from $190.00 to $195.00 and gave the stock a "market perform" rating in a research note on Wednesday, July 29th. Finally, Jefferies Financial Group dropped 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, seventeen have assigned a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, American Tower currently has an average rating of "Moderate Buy" and an average price target of $214.90.

American Tower Company 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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