BIP Wealth LLC bought a new stake in American Tower Corporation (NYSE:AMT - Free Report) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 6,137 shares of the real estate investment trust's stock, valued at approximately $1,004,000.
Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Raleigh Capital Management Inc. boosted its stake in American Tower by 489.1% during the 1st quarter. Raleigh Capital Management Inc. now owns 13,703 shares of the real estate investment trust's stock worth $2,365,000 after purchasing an additional 11,377 shares during the period. Canal Capital Management LLC increased its stake in American Tower by 81.9% in the first quarter. Canal Capital Management LLC now owns 34,471 shares of the real estate investment trust's stock valued at $5,949,000 after purchasing an additional 15,520 shares during the period. Bernzott Capital Advisors raised its holdings in shares of American Tower by 29.3% in the first quarter. Bernzott Capital Advisors now owns 42,161 shares of the real estate investment trust's stock valued at $7,276,000 after buying an additional 9,556 shares during the last quarter. Legal & General Group Plc grew its holdings in shares of American Tower by 4.7% during the fourth quarter. Legal & General Group Plc now owns 4,873,695 shares of the real estate investment trust's stock worth $855,675,000 after buying an additional 220,447 shares during the last quarter. Finally, Palouse Capital Management Inc. purchased a new position in shares of American Tower during the first quarter worth about $2,396,000. 92.69% of the stock is owned by institutional investors and hedge funds.
American Tower Stock Up 0.9%
Shares of NYSE AMT opened at $175.68 on Friday. The firm has a market cap of $81.86 billion, a P/E ratio of 24.17, a price-to-earnings-growth ratio of 2.76 and a beta of 0.90. The company has a debt-to-equity ratio of 3.12, a quick ratio of 0.52 and a current ratio of 0.52. American Tower Corporation has a 1 year low of $160.06 and a 1 year high of $214.79. The firm's 50 day moving average price is $172.82 and its 200 day moving average price is $177.94.
American Tower (NYSE:AMT - Get Free Report) last issued its quarterly earnings results on Tuesday, July 28th. The real estate investment trust reported $2.71 earnings per share for the quarter, beating the consensus estimate of $1.57 by $1.14. The company had revenue of $2.75 billion during the quarter, compared to the consensus estimate of $2.70 billion. American Tower had a return on equity of 32.76% and a net margin of 31.08%.American Tower's revenue was up 4.6% on a year-over-year basis. During the same period in the previous year, the firm posted $2.60 EPS. American Tower has set its FY 2026 guidance at 11.000-11.170 EPS. As a group, sell-side analysts anticipate that American Tower Corporation will post 10.78 earnings per share for the current year.
American Tower Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Monday, July 13th. Shareholders of record on Friday, June 12th were issued a $1.79 dividend. The ex-dividend date was Friday, June 12th. This represents a $7.16 annualized dividend and a yield of 4.1%. American Tower's payout ratio is 98.49%.
Wall Street Analyst Weigh In
Several analysts have commented on the company. Raymond James Financial reaffirmed a "strong-buy" rating and set a $240.00 price objective on shares of American Tower in a research note on Wednesday, April 29th. Scotiabank restated an "outperform" rating on shares of American Tower in a research note on Wednesday, July 29th. BMO Capital Markets increased their price target on American Tower from $190.00 to $195.00 and gave the stock a "market perform" rating in a report on Wednesday, July 29th. Jefferies Financial Group lowered their price objective on shares of American Tower from $210.00 to $201.00 and set a "buy" rating on the stock in a research report on Wednesday, July 15th. Finally, Citizens Jmp reissued a "market outperform" rating and issued a $260.00 price objective on shares of American Tower in a research note on Wednesday, April 29th. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, American Tower currently has a consensus rating of "Moderate Buy" and a consensus price target of $215.14.
Read Our Latest Stock Analysis on American Tower
Insider Activity
In other news, EVP Ruth T. Dowling sold 1,106 shares of the company's stock in a transaction dated Wednesday, July 29th. The shares were sold at an average price of $174.96, for a total transaction of $193,505.76. Following the completion of the transaction, the executive vice president owned 27,711 shares of the company's stock, valued at $4,848,316.56. This represents a 3.84% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Robert Joseph Meyer sold 5,000 shares of the firm's stock in a transaction that occurred on Wednesday, July 29th. The stock was sold at an average price of $178.89, for a total transaction of $894,450.00. Following the completion of the sale, the chief financial officer directly owned 21,428 shares in the company, valued at $3,833,254.92. This represents a 18.92% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 6,791 shares of company stock valued at $1,204,091 in the last 90 days. 0.08% of the stock is owned by company insiders.
American Tower Profile
(
Free Report)
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.
Further Reading
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