American Tower Corporation $AMT Stock Position Lifted by Pacific Heights Asset Management LLC

Key Points

• Pacific Heights Asset Management increased its American Tower stake by 60% in the fourth quarter, buying an additional 75,000 shares and bringing its total to 200,000 shares worth about $35.1 million.
• American Tower reported strong quarterly results, posting EPS of $2.84 versus estimates of $1.60 and revenue of $2.74 billion, while also raising its FY 2026 guidance to 10.90–11.07 EPS.
• The company boosted its quarterly dividend to $1.79 per share from $1.70, implying an annualized yield of about 4.2%; meanwhile, analysts mostly remain positive with a Moderate Buy consensus and an average target price of $218.05.

Pacific Heights Asset Management LLC grew its holdings in shares of American Tower Corporation (NYSE:AMT - Free Report) by 60.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 200,000 shares of the real estate investment trust's stock after purchasing an additional 75,000 shares during the period. American Tower makes up approximately 1.3% of Pacific Heights Asset Management LLC's investment portfolio, making the stock its 16th largest holding. Pacific Heights Asset Management LLC's holdings in American Tower were worth $35,114,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. raised its stake in American Tower by 8.9% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 96,793 shares of the real estate investment trust's stock valued at $18,615,000 after purchasing an additional 7,872 shares in the last quarter. Krilogy Financial LLC bought a new position in American Tower in the 3rd quarter valued at about $1,044,000. Machina Capital S.A.S. bought a new position in American Tower in the 3rd quarter valued at about $2,871,000. Commerzbank Aktiengesellschaft FI raised its position in shares of American Tower by 92.4% in the 3rd quarter. Commerzbank Aktiengesellschaft FI now owns 61,397 shares of the real estate investment trust's stock valued at $11,808,000 after buying an additional 29,486 shares in the last quarter. Finally, National Pension Service lifted its holdings in shares of American Tower by 2.5% during the 3rd quarter. National Pension Service now owns 1,240,270 shares of the real estate investment trust's stock worth $238,529,000 after acquiring an additional 30,368 shares during the period. 92.69% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, EVP Ruth T. Dowling sold 556 shares of the stock in a transaction 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 transaction, the executive vice president directly owned 29,877 shares of the company's stock, valued at $5,332,446.96. This represents a 1.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Eugene M. Noel sold 41,209 shares of the firm's stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $191.05, for a total transaction of $7,872,979.45. Following the completion of the sale, the chief operating officer owned 29,592 shares of the company's stock, valued at $5,653,551.60. The trade was a 58.20% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 42,181 shares of company stock worth $8,046,071. Corporate insiders own 0.08% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on AMT shares. Truist Financial increased their price target on shares of American Tower from $205.00 to $208.00 and gave the stock a "buy" rating in a research report on Thursday, April 30th. Morgan Stanley cut their target price on American Tower from $225.00 to $220.00 and set an "overweight" rating for the company in a research note on Wednesday, February 25th. BMO Capital Markets raised their target price on American Tower from $185.00 to $200.00 and gave the company a "market perform" rating in a report on Wednesday, February 25th. Raymond James Financial reissued a "strong-buy" rating and set a $240.00 price target on shares of American Tower in a report on Wednesday, April 29th. Finally, Sanford C. Bernstein upped their price objective on American Tower from $205.00 to $207.00 and gave the stock a "market perform" rating in a research report on Tuesday, April 28th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $218.05.

American Tower Stock Up 0.1%

Shares of NYSE:AMT opened at $170.74 on Monday. The firm has a market cap of $79.54 billion, a P/E ratio of 27.58, a P/E/G ratio of 0.71 and a beta of 0.90. American Tower Corporation has a 12-month low of $165.08 and a 12-month high of $234.33. The business has a fifty day simple moving average of $177.80 and a 200 day simple moving average of $179.04. 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 (NYSE:AMT - Get Free Report) last posted its quarterly earnings data on Tuesday, April 28th. The real estate investment trust reported $2.84 EPS for the quarter, beating analysts' consensus estimates of $1.60 by $1.24. The company had revenue of $2.74 billion for the quarter, compared to analyst estimates of $2.66 billion. American Tower had a net margin of 26.81% and a return on equity of 27.79%. The company's quarterly revenue was up 6.8% on a year-over-year basis. During the same period in the prior year, the firm posted $2.75 EPS. American Tower has set its FY 2026 guidance at 10.900-11.07 EPS. Analysts predict that American Tower Corporation will post 10.67 earnings per share for the current year.

American Tower Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 28th. Shareholders of record on Tuesday, April 14th were paid a $1.79 dividend. This represents a $7.16 annualized dividend and a yield of 4.2%. This is a boost from American Tower's previous quarterly dividend of $1.70. The ex-dividend date of this dividend was Tuesday, April 14th. American Tower's payout ratio is presently 115.67%.

American Tower Company 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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