Bleakley Financial Group LLC Acquires New Stake in American Tower Corporation $AMT

Key Points

• Bleakley Financial Group opened a new position in American Tower during the first quarter, buying 11,741 shares valued at about $2.0 million.
• American Tower continues to draw interest from analysts, with several firms raising ratings and price targets; the consensus view remains Moderate Buy with an average target of $215.57.
• The company posted strong quarterly results, beating earnings and revenue expectations, and it also paid a quarterly dividend of $1.79 per share, implying a 4.2% yield.

Bleakley Financial Group LLC bought a new position in American Tower Corporation (NYSE:AMT - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 11,741 shares of the real estate investment trust's stock, valued at approximately $2,026,000.

Other large investors have also recently added to or reduced their stakes in the company. Oakworth Capital Inc. lifted its holdings in shares of 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 in the last quarter. Richards Merrill & Peterson Inc. acquired a new position in shares of American Tower during the fourth quarter worth about $25,000. Swiss RE Ltd. bought a new position in shares of American Tower during the fourth quarter worth about $25,000. Triumph Capital Management bought a new position in shares of American Tower during the third quarter worth about $29,000. Finally, Holos Integrated Wealth LLC acquired a new stake in American Tower in the 4th quarter valued at approximately $27,000. Institutional investors own 92.69% of the company's stock.

Insiders Place Their Bets

In related news, EVP Ruth T. Dowling sold 556 shares of the business's stock in a transaction 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 transaction, the executive vice president directly owned 29,877 shares in the company, valued at approximately $5,332,446.96. The trade was a 1.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.08% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on AMT shares. Royal Bank Of Canada upgraded American Tower from a "sector perform" rating to an "outperform" rating and boosted their target price for the company from $195.00 to $205.00 in a research note on Friday, June 26th. Scotiabank raised their price target on shares of American Tower from $214.00 to $218.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 29th. Sanford C. Bernstein upgraded shares of American Tower from a "market perform" rating to an "outperform" rating and set a $207.00 price objective on the stock in a report on Tuesday, May 19th. Barclays cut their price objective on shares of American Tower from $200.00 to $195.00 and set an "equal weight" rating on the stock in a research report on Thursday, April 16th. Finally, Wolfe Research upgraded shares of American Tower from a "peer perform" rating to an "outperform" rating and set a $188.00 target price for the company in a report on Wednesday, July 8th. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, American Tower has an average rating of "Moderate Buy" and an average price target of $215.57.

American Tower Stock Performance

Shares of NYSE AMT opened at $168.87 on Friday. 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 50 day moving average price of $177.77 and a 200 day moving average price of $178.76. The stock has a market capitalization 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 52 week low of $160.06 and a 52 week high of $234.33.

American Tower (NYSE:AMT - Get Free Report) last posted 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. American Tower had a return on equity of 27.79% and a net margin of 26.81%.The firm had revenue of $2.74 billion for 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 business's quarterly revenue was up 6.8% on a year-over-year basis. American Tower has set its FY 2026 guidance at 10.900-11.07 EPS. Analysts predict that American Tower Corporation will post 10.66 earnings per share for the current fiscal year.

American Tower Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, July 13th. Investors of record on Friday, June 12th were paid a $1.79 dividend. The ex-dividend date of this dividend was Friday, June 12th. This represents a $7.16 annualized dividend and a dividend yield of 4.2%. American Tower's dividend payout ratio (DPR) is currently 115.67%.

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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