BI Asset Management Fondsmaeglerselskab A S Decreases Position in American Tower Corporation $AMT

Key Points

• BI Asset Management Fondsmaeglerselskab A S cut its American Tower position by 26.4% in the first quarter, selling 47,799 shares and leaving it with 132,933 shares worth about $22.94 million.
• American Tower reported strong first-quarter results, with EPS of $2.84 versus the $1.60 consensus estimate and revenue of $2.74 billion, up 6.8% year over year.
• The company also declared a quarterly dividend of $1.79 per share, equal to an annualized yield of about 4.1%, while analysts maintain a Moderate Buy consensus with a $216.20 average price target.

BI Asset Management Fondsmaeglerselskab A S decreased its position in American Tower Corporation (NYSE:AMT - Free Report) by 26.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 132,933 shares of the real estate investment trust's stock after selling 47,799 shares during the period. BI Asset Management Fondsmaeglerselskab A S's holdings in American Tower were worth $22,942,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of AMT. J. Stern & Co. LLP lifted its position in shares of American Tower by 28,121.1% during the 4th quarter. J. Stern & Co. LLP now owns 37,686,978 shares of the real estate investment trust's stock valued at $6,616,703,000 after buying an additional 37,553,436 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its stake in shares of American Tower by 20,721.6% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 9,712,672 shares of the real estate investment trust's stock worth $1,705,254,000 after acquiring an additional 9,666,025 shares during the period. Norges Bank purchased a new stake in American Tower in the 4th quarter worth about $1,171,180,000. Lazard Asset Management LLC increased its holdings in American Tower by 1,984.8% in the 3rd quarter. Lazard Asset Management LLC now owns 4,464,382 shares of the real estate investment trust's stock worth $858,552,000 after acquiring an additional 4,250,242 shares during the last quarter. Finally, Capital International Investors raised its stake in American Tower by 157.0% in the 4th quarter. Capital International Investors now owns 3,871,368 shares of the real estate investment trust's stock valued at $679,696,000 after acquiring an additional 2,364,898 shares during the period. 92.69% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

AMT has been the topic of several recent research reports. Jefferies Financial Group upped their price objective on shares of American Tower from $209.00 to $210.00 and gave the company a "buy" rating in a report on Tuesday, April 14th. Weiss Ratings raised shares of American Tower from a "hold (c-)" rating to a "hold (c)" rating in a research report on Monday, May 11th. 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 note on Thursday, April 16th. BMO Capital Markets raised their price objective on shares of American Tower from $185.00 to $200.00 and gave the stock a "market perform" rating in a report on Wednesday, February 25th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of American Tower from $245.00 to $240.00 and set an "overweight" rating for the company in a research note on Wednesday, April 29th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $216.20.

American Tower Stock Performance

Shares of AMT opened at $175.66 on Friday. American Tower Corporation has a 52-week low of $165.08 and a 52-week high of $234.33. The stock's 50-day simple moving average is $181.59 and its 200 day simple moving average is $179.91. 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 stock has a market capitalization of $81.84 billion, a price-to-earnings ratio of 28.38, a price-to-earnings-growth ratio of 0.74 and a beta of 0.90.

American Tower (NYSE:AMT - Get Free Report) last posted its earnings results on Tuesday, April 28th. The real estate investment trust reported $2.84 earnings per share for the quarter, beating analysts' consensus estimates of $1.60 by $1.24. American Tower had a return on equity of 27.79% and a net margin of 26.81%.The business had revenue of $2.74 billion during the quarter, compared to analyst estimates of $2.66 billion. During the same quarter in the previous year, the firm earned $2.75 EPS. The company's quarterly revenue was up 6.8% compared to the same quarter last year. American Tower has set its FY 2026 guidance at 10.900-11.07 EPS. Research analysts forecast that American Tower Corporation will post 10.66 EPS for the current fiscal year.

American Tower Dividend Announcement

The company also recently disclosed 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. This represents a $7.16 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date is Friday, June 12th. American Tower's dividend payout ratio (DPR) is 115.67%.

Insider Buying and Selling

In related news, EVP Ruth T. Dowling sold 556 shares of the company's stock in a transaction that occurred 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 sale, the executive vice president owned 29,877 shares of the company's stock, valued at approximately $5,332,446.96. This represents a 1.83% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.08% of the company's stock.

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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