Bank of New York Mellon Corp Cuts Stake in American Tower Corporation $AMT

Key Points

• Bank of New York Mellon trimmed its American Tower stake by 1.5% in the fourth quarter, though it still held 2.72 million shares valued at about $476.8 million.
• American Tower reported strong quarterly results, beating earnings and revenue estimates with EPS of $2.84 and revenue of $2.74 billion; it also raised FY2026 guidance to 10.90–11.07 EPS.
• The company announced a quarterly dividend of $1.79 per share, implying an annualized yield of about 3.9%, while analysts currently rate the stock a Moderate Buy with an average target price of $216.20.

Bank of New York Mellon Corp lowered its position in American Tower Corporation (NYSE:AMT - Free Report) by 1.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,715,852 shares of the real estate investment trust's stock after selling 42,758 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.58% of American Tower worth $476,822,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Richards Merrill & Peterson Inc. bought a new stake in American Tower in the fourth quarter valued at approximately $25,000. Oakworth Capital Inc. lifted its position in American Tower by 90.7% in the fourth quarter. Oakworth Capital Inc. now owns 143 shares of the real estate investment trust's stock valued at $25,000 after purchasing an additional 68 shares during the last quarter. Holos Integrated Wealth LLC bought a new stake in American Tower in the fourth quarter valued at approximately $27,000. Triumph Capital Management bought a new stake in American Tower in the third quarter valued at approximately $29,000. Finally, Lloyd Advisory Services LLC. bought a new stake in American Tower in the fourth quarter valued at approximately $30,000. Institutional investors own 92.69% of the company's stock.

Insiders Place Their Bets

In related news, Director Rajesh Kalathur bought 2,671 shares of the business's stock in a transaction dated Tuesday, March 10th. The shares were purchased at an average cost of $185.30 per share, with a total value of $494,936.30. Following the completion of the purchase, the director owned 4,936 shares in the company, valued at approximately $914,640.80. The trade was a 117.92% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Ruth T. Dowling sold 416 shares of the stock in a transaction on Wednesday, April 29th. The stock was sold at an average price of $177.54, for a total value of $73,856.64. Following the completion of the sale, the executive vice president directly owned 29,461 shares in the company, valued at approximately $5,230,505.94. This represents a 1.39% 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. Corporate insiders own 0.08% of the company's stock.

Analysts Set New Price Targets

AMT has been the subject of several recent research reports. Sanford C. Bernstein upgraded American Tower from a "market perform" rating to an "outperform" rating and set a $207.00 price objective for the company in a research report on Tuesday, May 19th. TD Cowen decreased their target price on American Tower from $235.00 to $225.00 in a report on Wednesday, February 25th. JPMorgan Chase & Co. decreased their target price on American Tower from $245.00 to $240.00 and set an "overweight" rating for the company in a report on Wednesday, April 29th. Truist Financial upped their target price on American Tower from $205.00 to $208.00 and gave the company a "buy" rating in a report on Thursday, April 30th. Finally, Scotiabank upped their target price on American Tower from $214.00 to $218.00 and gave the company an "outperform" rating in a report on Wednesday, April 29th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and five have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $216.20.

American Tower Price Performance

Shares of AMT stock opened at $181.90 on Thursday. The stock has a market cap of $84.75 billion, a price-to-earnings ratio of 29.39, a PEG ratio of 0.77 and a beta of 0.90. The business's fifty day moving average is $178.06 and its 200 day moving average is $179.41. American Tower Corporation has a twelve month low of $165.08 and a twelve month high of $234.33. 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 issued its quarterly 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. The company had revenue of $2.74 billion for the quarter, compared to analysts' expectations of $2.66 billion. American Tower had a return on equity of 27.79% and a net margin of 26.81%.The firm's revenue for the quarter was up 6.8% on a year-over-year basis. During the same period in the prior year, the firm earned $2.75 earnings per share. American Tower has set its FY 2026 guidance at 10.900-11.07 EPS. Research analysts expect that American Tower Corporation will post 10.67 EPS for the current fiscal 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 paid a $1.79 dividend. This represents a $7.16 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date of this dividend is Friday, June 12th. American Tower's dividend payout ratio is currently 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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