Cbre Investment Management Listed Real Assets LLC Purchases 125,085 Shares of American Tower Corporation $AMT

Key Points

• Cbre Investment Management Listed Real Assets LLC increased its stake in American Tower by 18.8% in the fourth quarter, buying 125,085 shares and bringing its total holding to 788,920 shares worth about $138.5 million.
• American Tower reported strong quarterly results, with earnings of $2.84 per share beating estimates by $1.24 and revenue of $2.74 billion topping forecasts; revenue rose 6.8% year over year.
• The company also announced a $1.79 quarterly dividend to be paid July 13, implying a 3.8% annualized yield, while analysts currently rate the stock a “Moderate Buy” with an average price target of $216.20.

Cbre Investment Management Listed Real Assets LLC grew its position in shares of American Tower Corporation (NYSE:AMT - Free Report) by 18.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 788,920 shares of the real estate investment trust's stock after buying an additional 125,085 shares during the quarter. American Tower accounts for approximately 2.0% of Cbre Investment Management Listed Real Assets LLC's holdings, making the stock its 16th largest position. Cbre Investment Management Listed Real Assets LLC owned approximately 0.17% of American Tower worth $138,511,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Richards Merrill & Peterson Inc. bought a new position in shares of American Tower during the 4th quarter valued at $25,000. Oakworth Capital Inc. lifted its holdings in shares of American Tower by 90.7% during the 4th quarter. Oakworth Capital Inc. now owns 143 shares of the real estate investment trust's stock valued at $25,000 after buying an additional 68 shares during the period. Holos Integrated Wealth LLC purchased a new position in shares of American Tower during the 4th quarter worth $27,000. Triumph Capital Management purchased a new position in shares of American Tower during the 3rd quarter worth $29,000. Finally, Lloyd Advisory Services LLC. purchased a new position in shares of American Tower during the 4th quarter worth $30,000. 92.69% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other American Tower news, EVP Ruth T. Dowling sold 416 shares of American Tower stock in a transaction on Wednesday, April 29th. The shares were sold at an average price of $177.54, for a total value of $73,856.64. Following the sale, the executive vice president directly owned 29,461 shares in the company, valued at approximately $5,230,505.94. The trade was a 1.39% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Rajesh Kalathur purchased 2,671 shares of American Tower stock in a transaction on Tuesday, March 10th. The stock was bought at an average price of $185.30 per share, for a total transaction of $494,936.30. Following the completion of the acquisition, the director owned 4,936 shares in the company, valued at $914,640.80. The trade was a 117.92% increase in their position. The SEC filing for this purchase provides additional information. Insiders own 0.08% of the company's stock.

American Tower Stock Up 0.4%

AMT opened at $187.79 on Tuesday. The company has a debt-to-equity ratio of 3.07, a quick ratio of 0.43 and a current ratio of 0.43. American Tower Corporation has a fifty-two week low of $165.08 and a fifty-two week high of $234.33. The firm's fifty day moving average is $177.78 and its 200 day moving average is $179.38. The stock has a market cap of $87.49 billion, a price-to-earnings ratio of 30.34, a price-to-earnings-growth ratio of 0.78 and a beta of 0.90.

American Tower (NYSE:AMT - Get Free Report) last released 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. The company had revenue of $2.74 billion for the quarter, compared to analysts' expectations of $2.66 billion. American Tower had a net margin of 26.81% and a return on equity of 27.79%. American Tower's revenue for the quarter was up 6.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.75 EPS. American Tower has set its FY 2026 guidance at 10.900-11.07 EPS. On average, sell-side analysts forecast that American Tower Corporation will post 10.67 earnings per share for the current fiscal year.

American Tower Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 13th. Shareholders of record on Friday, June 12th will be issued a $1.79 dividend. This represents a $7.16 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date is Friday, June 12th. American Tower's payout ratio is currently 115.67%.

Analyst Upgrades and Downgrades

AMT has been the topic of several analyst reports. Scotiabank lifted 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. Citizens Jmp reiterated a "market outperform" rating and set a $260.00 price target on shares of American Tower in a research note on Wednesday, April 29th. TD Cowen dropped their price target on shares of American Tower from $235.00 to $225.00 in a research note on Wednesday, February 25th. Sanford C. Bernstein upgraded shares of American Tower from a "market perform" rating to an "outperform" rating and set a $207.00 price target on the stock in a research note on Tuesday, May 19th. Finally, Mizuho upgraded shares of American Tower from a "neutral" rating to an "outperform" rating and lifted their price target for the stock from $189.00 to $205.00 in a research note on Wednesday, April 15th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, American Tower currently has an average rating of "Moderate Buy" and an average price target of $216.20.

American Tower Company 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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