BlackRock Inc. Buys New Stake in American Tower Corporation $AMT

Key Points

• BlackRock acquired 45.8 million American Tower shares worth approximately $7.49 billion, giving it a 9.83% stake in the REIT. Institutional investors and hedge funds collectively own 92.69% of the company.
• American Tower reported quarterly EPS of $2.71, beating estimates of $1.57, while revenue rose 4.6% year over year to $2.75 billion. The company provided full-year 2026 EPS guidance of $11.00 to $11.17.
• Shares opened at $172.12, near their 52-week low, while the company’s quarterly dividend equates to an annualized $7.16 payout and a 4.2% yield. Analysts maintain a consensus “Moderate Buy” rating with a $215.14 price target.

BlackRock Inc. purchased a new position in shares of American Tower Corporation (NYSE:AMT - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 45,796,561 shares of the real estate investment trust's stock, valued at approximately $7,490,943,000. BlackRock Inc. owned approximately 9.83% of American Tower at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the stock. Dunhill Financial LLC acquired a new position in American Tower during the second quarter worth approximately $38,000. Pallas Capital Advisors LLC acquired a new stake in shares of American Tower in the second quarter valued at approximately $1,248,000. Deutsche Bank AG acquired a new stake in shares of American Tower in the second quarter valued at approximately $1,096,186,000. Perigon Wealth Management LLC purchased a new position in shares of American Tower during the second quarter worth approximately $1,063,000. Finally, Commerzbank Aktiengesellschaft FI purchased a new position in shares of American Tower during the second quarter worth approximately $7,553,000. Institutional investors and hedge funds own 92.69% of the company's stock.

Insiders Place Their Bets

In other American Tower news, CFO Robert Joseph Meyer sold 5,000 shares of the firm's stock in a transaction on Wednesday, July 29th. The stock was sold at an average price of $178.89, for a total value of $894,450.00. Following the completion of the sale, the chief financial officer owned 21,428 shares of the company's stock, valued at approximately $3,833,254.92. This trade represents a 18.92% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Ruth T. Dowling sold 1,106 shares of the company's stock in a transaction on Wednesday, July 29th. The stock was sold at an average price of $174.96, for a total transaction of $193,505.76. Following the transaction, the executive vice president directly owned 27,711 shares in the company, valued at approximately $4,848,316.56. This trade represents a 3.84% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 6,791 shares of company stock valued at $1,204,091. 0.08% of the stock is owned by corporate insiders.

American Tower Trading Down 2.0%

Shares of American Tower stock opened at $172.12 on Tuesday. The firm has a market cap of $80.20 billion, a price-to-earnings ratio of 23.68, a price-to-earnings-growth ratio of 2.79 and a beta of 0.90. American Tower Corporation has a 52-week low of $160.06 and a 52-week high of $214.79. The company's 50-day simple moving average is $172.48 and its 200-day simple moving average is $177.87. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 3.12.

American Tower (NYSE:AMT - Get Free Report) last announced its quarterly earnings data on Tuesday, July 28th. The real estate investment trust reported $2.71 EPS for the quarter, beating analysts' consensus estimates of $1.57 by $1.14. The firm had revenue of $2.75 billion during the quarter, compared to the consensus estimate of $2.70 billion. American Tower had a net margin of 31.08% and a return on equity of 32.76%. The firm's revenue was up 4.6% compared to the same quarter last year. During the same quarter last year, the firm earned $2.60 earnings per share. American Tower has set its FY 2026 guidance at 11.000-11.170 EPS. As a group, equities research 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 disclosed a quarterly dividend, which was paid on Monday, July 13th. Shareholders of record on Friday, June 12th were given a $1.79 dividend. The ex-dividend date was Friday, June 12th. This represents a $7.16 annualized dividend and a yield of 4.2%. American Tower's dividend payout ratio is presently 98.49%.

Wall Street Analyst Weigh In

AMT has been the subject of several research reports. Raymond James Financial reiterated a "strong-buy" rating and issued a $240.00 price target on shares of American Tower in a research report on Wednesday, April 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. Citizens Jmp reaffirmed a "market outperform" rating and issued a $260.00 target price on shares of American Tower in a report on Wednesday, April 29th. TD Cowen increased their target price on shares of American Tower from $225.00 to $227.00 and gave the stock a "buy" rating in a research note on Wednesday, July 29th. Finally, Wolfe Research raised American Tower from a "peer perform" rating to an "outperform" rating and set a $188.00 price target on the stock in a report on Wednesday, July 8th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, American Tower has an average rating of "Moderate Buy" and a consensus price target of $215.14.

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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