Arrowstreet Capital Limited Partnership Boosts Stake in American Tower Corporation $AMT

Key Points

• Arrowstreet Capital boosted its stake in American Tower by 52.7% in the fourth quarter, adding 1.47 million shares to reach 4.27 million shares worth about $749.5 million.
• American Tower’s latest quarterly results beat expectations, with EPS of $2.84 versus the $1.60 estimate and revenue of $2.74 billion, up 6.8% year over year.
• The company announced a quarterly dividend of $1.79 per share, equal to a 3.8% annualized yield, even as analysts hold a consensus rating of Moderate Buy with a $216.20 target price.

Arrowstreet Capital Limited Partnership increased its holdings in shares of American Tower Corporation (NYSE:AMT - Free Report) by 52.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,269,144 shares of the real estate investment trust's stock after purchasing an additional 1,473,137 shares during the period. Arrowstreet Capital Limited Partnership owned approximately 0.91% of American Tower worth $749,534,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in shares of American Tower by 1.0% during the third quarter. Vanguard Group Inc. now owns 63,640,168 shares of the real estate investment trust's stock worth $12,239,277,000 after purchasing an additional 611,801 shares during the last quarter. CIBC Bancorp USA Inc. purchased a new position in shares of American Tower during the third quarter worth $35,633,000. Nordea Investment Management AB raised its holdings in shares of American Tower by 10.4% during the fourth quarter. Nordea Investment Management AB now owns 1,743,321 shares of the real estate investment trust's stock worth $306,284,000 after purchasing an additional 164,645 shares during the last quarter. Rathbones Group PLC raised its holdings in shares of American Tower by 14.9% during the fourth quarter. Rathbones Group PLC now owns 474,216 shares of the real estate investment trust's stock worth $83,258,000 after purchasing an additional 61,428 shares during the last quarter. Finally, Mondrian Investment Partners LTD purchased a new position in shares of American Tower during the third quarter worth $1,019,000. Hedge funds and other institutional investors own 92.69% of the company's stock.

Insider Activity

In other news, EVP Ruth T. Dowling sold 416 shares of American Tower stock in a transaction dated Wednesday, April 29th. The shares were sold at an average price of $177.54, for a total value of $73,856.64. Following the sale, the executive vice president owned 29,461 shares in the company, valued at $5,230,505.94. This trade represents a 1.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.08% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

AMT has been the topic of several analyst reports. Barclays dropped their price target on shares of American Tower from $200.00 to $195.00 and set an "equal weight" rating on the stock in a research report on Thursday, April 16th. TD Cowen dropped their price target on shares of American Tower from $235.00 to $225.00 in a research report on Wednesday, February 25th. Citizens Jmp restated a "market outperform" rating and set a $260.00 price target on shares of American Tower in a research report on Wednesday, April 29th. Royal Bank Of Canada restated a "sector perform" rating and set a $195.00 price target on shares of American Tower in a research report on Thursday, April 30th. Finally, Morgan Stanley dropped their price target on shares of American Tower from $225.00 to $220.00 and set an "overweight" rating on the stock in a research 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 five have assigned a Hold rating to the company. According to data from MarketBeat, American Tower currently has an average rating of "Moderate Buy" and a consensus target price of $216.20.

American Tower Stock Down 1.1%

AMT stock opened at $187.20 on Friday. The firm has a market cap of $87.22 billion, a PE ratio of 30.24, a P/E/G ratio of 0.78 and a beta of 0.90. The company has a debt-to-equity ratio of 3.07, a quick ratio of 0.43 and a current ratio of 0.43. The firm's fifty day moving average is $181.01 and its 200 day moving average is $179.92. American Tower Corporation has a one year low of $165.08 and a one year high of $234.33.

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

American Tower Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 13th. Stockholders of record on Friday, June 12th will be given a $1.79 dividend. The ex-dividend date is Friday, June 12th. This represents a $7.16 annualized dividend and a dividend yield of 3.8%. American Tower's dividend payout ratio (DPR) is 115.67%.

American Tower 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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