ANTIPODES PARTNERS Ltd Boosts Position in American Tower Corporation $AMT

Key Points

• ANTIPODES PARTNERS Ltd increased its stake in American Tower by 14.8% in the fourth quarter, buying 52,573 additional shares and bringing its total holding to 407,157 shares worth about $71.5 million.
• American Tower reported strong quarterly results, with EPS of $2.84 topping estimates by $1.24 and revenue of $2.74 billion beating expectations. The company also raised its quarterly dividend to $1.79 per share, or $7.16 annualized, for a 4.2% yield.
• Analyst sentiment remains constructive despite some lowered price targets, with the stock holding a consensus rating of “Moderate Buy” and an average target price of $218.05. Insiders were mixed recently, with one executive selling shares and a director making a notable purchase.

ANTIPODES PARTNERS Ltd increased its holdings in shares of American Tower Corporation (NYSE:AMT - Free Report) by 14.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 407,157 shares of the real estate investment trust's stock after purchasing an additional 52,573 shares during the quarter. American Tower makes up approximately 1.5% of ANTIPODES PARTNERS Ltd's portfolio, making the stock its 29th biggest position. ANTIPODES PARTNERS Ltd owned approximately 0.09% of American Tower worth $71,490,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Richards Merrill & Peterson Inc. purchased a new stake in American Tower in the fourth quarter valued at approximately $25,000. Oakworth Capital Inc. raised its stake in shares of American Tower by 90.7% during the fourth quarter. Oakworth Capital Inc. now owns 143 shares of the real estate investment trust's stock worth $25,000 after purchasing an additional 68 shares during the last quarter. Holos Integrated Wealth LLC purchased a new stake in shares of American Tower during the fourth quarter worth approximately $27,000. Triumph Capital Management purchased a new stake in shares of American Tower during the third quarter worth approximately $29,000. Finally, Steph & Co. raised its stake in shares of American Tower by 87.2% during the fourth quarter. Steph & Co. now owns 176 shares of the real estate investment trust's stock worth $31,000 after purchasing an additional 82 shares during the last quarter. Hedge funds and other institutional investors own 92.69% of the company's stock.

American Tower Stock Performance

American Tower stock opened at $170.74 on Friday. The stock's 50-day moving average is $177.80 and its 200-day moving average is $179.11. The company has a market cap of $79.54 billion, a price-to-earnings ratio of 27.58, a price-to-earnings-growth ratio of 0.71 and a beta of 0.90. The company has a debt-to-equity ratio of 3.07, a current ratio of 0.43 and a quick ratio of 0.43. American Tower Corporation has a 12 month low of $165.08 and a 12 month high of $234.33.

American Tower (NYSE:AMT - Get Free Report) last released its quarterly earnings data on Tuesday, April 28th. The real estate investment trust reported $2.84 EPS for the quarter, topping analysts' consensus estimates of $1.60 by $1.24. The company had revenue of $2.74 billion for the quarter, compared to the consensus estimate of $2.66 billion. American Tower had a return on equity of 27.79% and a net margin of 26.81%.The company's quarterly revenue was up 6.8% compared to the same quarter last year. During the same period last year, the business posted $2.75 EPS. American Tower has set its FY 2026 guidance at 10.900-11.07 EPS. Equities analysts anticipate that American Tower Corporation will post 10.67 earnings per share for the current year.

American Tower Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 28th. Investors of record on Tuesday, April 14th were issued a dividend of $1.79 per share. This represents a $7.16 annualized dividend and a dividend yield of 4.2%. The ex-dividend date was Tuesday, April 14th. This is an increase from American Tower's previous quarterly dividend of $1.70. American Tower's dividend payout ratio (DPR) is 115.67%.

Insider Activity at American Tower

In other American Tower news, EVP Ruth T. Dowling sold 416 shares of the business's stock in a transaction on Wednesday, April 29th. The shares were sold at an average price of $177.54, for a total value of $73,856.64. Following the transaction, the executive vice president owned 29,461 shares in the company, valued at $5,230,505.94. The trade was a 1.39% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Rajesh Kalathur bought 2,671 shares of the stock in a transaction dated Tuesday, March 10th. The shares were acquired at an average price of $185.30 per share, with a total value of $494,936.30. Following the completion of the purchase, the director directly owned 4,936 shares of the company's stock, valued at approximately $914,640.80. This represents a 117.92% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last ninety days, insiders have sold 42,181 shares of company stock worth $8,046,071. 0.08% of the stock is currently owned by company insiders.

Analyst Ratings Changes

AMT has been the subject of several analyst reports. TD Cowen cut their price target on American Tower from $235.00 to $225.00 in a research note on Wednesday, February 25th. The Goldman Sachs Group cut their price target on American Tower from $230.00 to $210.00 and set a "buy" rating for the company in a research note on Friday, January 16th. Royal Bank Of Canada reaffirmed a "sector perform" rating and set a $195.00 price objective on shares of American Tower in a report on Thursday, April 30th. Truist Financial upped their price objective on American Tower from $205.00 to $208.00 and gave the stock a "buy" rating in a report on Thursday, April 30th. Finally, BMO Capital Markets upped their price objective on American Tower from $185.00 to $200.00 and gave the stock a "market perform" rating in a report on Wednesday, February 25th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $218.05.

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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