Applied Finance Capital Management LLC Invests $1.08 Million in American Tower Corporation $AMT

Key Points

• Applied Finance Capital Management bought a new stake in American Tower during the fourth quarter, purchasing 6,138 shares valued at about $1.08 million.
• Insider activity was mixed: EVP Ruth T. Dowling sold 416 shares under a Rule 10b5-1 plan, while Director Rajesh Kalathur bought 2,671 shares. Over the last 90 days, insiders sold a net 42,181 shares.
• American Tower reported strong quarterly results, with EPS of $2.84 beating estimates and revenue rising 6.8% year over year. The company also raised its quarterly dividend to $1.79 per share.

Applied Finance Capital Management LLC purchased a new stake in American Tower Corporation (NYSE:AMT - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 6,138 shares of the real estate investment trust's stock, valued at approximately $1,078,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Richards Merrill & Peterson Inc. acquired a new stake in American Tower during the 4th quarter valued at $25,000. Oakworth Capital Inc. lifted its holdings 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 buying an additional 68 shares in the last quarter. Holos Integrated Wealth LLC acquired a new stake in shares of American Tower during the fourth quarter worth $27,000. Triumph Capital Management acquired a new stake in shares of American Tower during the third quarter worth $29,000. Finally, Steph & Co. increased its position in shares of American Tower by 87.2% in 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 period. 92.69% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at American Tower

In related news, EVP Ruth T. Dowling sold 416 shares of the business's stock in a transaction dated Wednesday, April 29th. The shares were sold at an average price of $177.54, for a total transaction of $73,856.64. Following the completion of the sale, the executive vice president owned 29,461 shares of the company's stock, valued at $5,230,505.94. This represents a 1.39% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Rajesh Kalathur acquired 2,671 shares of the firm's stock in a transaction dated Tuesday, March 10th. The stock was bought at an average price of $185.30 per share, with a total value of $494,936.30. Following the completion of the acquisition, 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. Insiders sold a total of 42,181 shares of company stock worth $8,046,071 over the last 90 days. Company insiders own 0.08% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on AMT shares. Royal Bank Of Canada reiterated a "sector perform" rating and issued a $195.00 target price on shares of American Tower in a research report on Thursday, April 30th. Sanford C. Bernstein lifted their price objective on American Tower from $205.00 to $207.00 and gave the stock a "market perform" rating in a report on Tuesday, April 28th. TD Cowen dropped their price target on American Tower from $235.00 to $225.00 in a research report on Wednesday, February 25th. Truist Financial lifted their price target on American Tower from $205.00 to $208.00 and gave the company a "buy" rating in a research report on Thursday, April 30th. Finally, Morgan Stanley decreased their price objective on American Tower from $225.00 to $220.00 and set an "overweight" rating on the stock in a report on Wednesday, February 25th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $218.05.

American Tower Price Performance

Shares of AMT stock opened at $170.74 on Friday. The stock has a 50 day moving average price of $177.80 and a 200 day moving average price of $179.11. The firm has a market capitalization 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 52-week low of $165.08 and a 52-week high of $234.33. The company has a debt-to-equity ratio of 3.07, a quick ratio of 0.43 and a current ratio of 0.43.

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

American Tower Increases Dividend

The business also recently declared 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 is an increase from American Tower's previous quarterly dividend of $1.70. This represents a $7.16 dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date of this dividend was Tuesday, April 14th. American Tower's dividend payout ratio is 115.67%.

About American Tower

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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