B&I Capital AG Has $26.49 Million Position in American Tower Corporation $AMT

Key Points

• B&I Capital AG cut its American Tower stake by 14.3% in the first quarter, but the REIT still represented about 9% of the fund’s portfolio and was valued at roughly $26.5 million.
• American Tower reported better-than-expected Q1 earnings, posting $2.84 per share versus the $1.60 estimate, while revenue rose 6.8% year over year to $2.74 billion.
• The company recently paid a $1.79 quarterly dividend, equal to a 4.2% annualized yield, while analysts currently hold a Moderate Buy consensus with a $215.57 average price target.

B&I Capital AG trimmed its stake in shares of American Tower Corporation (NYSE:AMT - Free Report) by 14.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 153,488 shares of the real estate investment trust's stock after selling 25,570 shares during the period. American Tower makes up about 9.0% of B&I Capital AG's investment portfolio, making the stock its 3rd biggest position. B&I Capital AG's holdings in American Tower were worth $26,489,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Richards Merrill & Peterson Inc. bought a new position in American Tower in the 4th quarter worth approximately $25,000. Oakworth Capital Inc. lifted its holdings in American Tower by 90.7% during the 4th 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. Swiss RE Ltd. bought a new position in American Tower in the 4th quarter valued at $25,000. Holos Integrated Wealth LLC bought a new position in American Tower in the 4th quarter valued at $27,000. Finally, Triumph Capital Management acquired a new stake in shares of American Tower in the 3rd quarter valued at $29,000. 92.69% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other American Tower news, EVP Ruth T. Dowling sold 556 shares of the company's stock in a transaction that occurred on Tuesday, April 28th. The stock was sold at an average price of $178.48, for a total value of $99,234.88. Following the sale, the executive vice president owned 29,877 shares in the company, valued at $5,332,446.96. This represents a 1.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at 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.

American Tower Trading Up 0.1%

AMT opened at $168.87 on Friday. The firm's fifty day moving average is $177.77 and its two-hundred day moving average is $178.76. 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 has a market cap of $78.68 billion, a PE ratio of 27.28, a price-to-earnings-growth ratio of 0.70 and a beta of 0.91. American Tower Corporation has a twelve month low of $160.06 and a twelve month high of $234.33.

American Tower (NYSE:AMT - Get Free Report) last announced its quarterly 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. The firm had revenue of $2.74 billion for the quarter, compared to analyst estimates of $2.66 billion. American Tower had a net margin of 26.81% and a return on equity of 27.79%. The business's revenue was up 6.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.75 earnings per share. American Tower has set its FY 2026 guidance at 10.900-11.07 EPS. Equities research analysts anticipate that American Tower Corporation will post 10.66 EPS for the current year.

American Tower Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, July 13th. Stockholders of record on Friday, June 12th were issued a $1.79 dividend. 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 Friday, June 12th. American Tower's dividend payout ratio is presently 115.67%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on AMT. Barclays dropped their target price on American Tower from $200.00 to $195.00 and set an "equal weight" rating for the company in a research report on Thursday, April 16th. Raymond James Financial reiterated a "strong-buy" rating and issued a $240.00 price objective on shares of American Tower in a research report on Wednesday, April 29th. Wolfe Research raised American Tower from a "peer perform" rating to an "outperform" rating and set a $188.00 price objective for the company in a report on Wednesday, July 8th. Scotiabank upped their target price on shares of American Tower from $214.00 to $218.00 and gave the company an "outperform" rating in a research report on Wednesday, April 29th. Finally, Citizens Jmp restated a "market outperform" rating and set a $260.00 target price on shares of American Tower in a research report on Wednesday, April 29th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $215.57.

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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