Centersquare Investment Management LLC Has $62.07 Million Stake in American Tower Corporation $AMT

Key Points

• Centersquare Investment Management trimmed its American Tower stake by 4.3% in the fourth quarter, but still held 353,536 shares valued at about $62.07 million.
• American Tower reported stronger-than-expected quarterly results, posting EPS of $2.84 versus the $1.60 estimate and revenue of $2.74 billion, with revenue up 6.8% year over year.
• The company announced a quarterly dividend of $1.79 per share payable July 13, while analysts currently rate the stock Moderate Buy with an average price target of $216.20.

Centersquare Investment Management LLC decreased its position in shares of American Tower Corporation (NYSE:AMT - Free Report) by 4.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 353,536 shares of the real estate investment trust's stock after selling 15,970 shares during the period. Centersquare Investment Management LLC owned 0.08% of American Tower worth $62,070,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of AMT. Krilogy Financial LLC acquired a new position in shares of American Tower during the third quarter valued at about $1,044,000. ING Groep NV raised its position in shares of American Tower by 5,413.1% during the third quarter. ING Groep NV now owns 60,534 shares of the real estate investment trust's stock valued at $11,642,000 after buying an additional 59,436 shares during the last quarter. Vanguard Group Inc. raised its position in shares of American Tower by 1.0% during the third quarter. Vanguard Group Inc. now owns 63,640,168 shares of the real estate investment trust's stock valued at $12,239,277,000 after buying an additional 611,801 shares during the last quarter. CIBC Bancorp USA Inc. acquired a new position in shares of American Tower during the third quarter valued at about $35,633,000. Finally, Nordea Investment Management AB raised its position in shares of American Tower by 10.4% during the fourth quarter. Nordea Investment Management AB now owns 1,743,321 shares of the real estate investment trust's stock valued at $306,284,000 after buying an additional 164,645 shares during the last quarter. Institutional investors and hedge funds own 92.69% of the company's stock.

American Tower Stock Performance

NYSE:AMT opened at $189.65 on Friday. American Tower Corporation has a 12-month low of $165.08 and a 12-month high of $234.33. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 3.07. The firm has a market capitalization of $88.35 billion, a PE ratio of 30.64, a price-to-earnings-growth ratio of 0.80 and a beta of 0.90. The firm has a 50-day moving average price of $180.69 and a 200 day moving average price of $179.87.

American Tower (NYSE:AMT - Get Free Report) last issued its quarterly earnings data 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. The firm 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%. The company's quarterly revenue was up 6.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.75 earnings per share. American Tower has set its FY 2026 guidance at 10.900-11.07 EPS. Research analysts anticipate that American Tower Corporation will post 10.67 earnings per share for the current fiscal year.

American Tower Dividend Announcement

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

Analyst Ratings Changes

AMT has been the subject of a number of research analyst reports. Citizens Jmp reaffirmed a "market outperform" rating and set a $260.00 price objective on shares of American Tower in a research report on Wednesday, April 29th. Mizuho raised shares of American Tower from a "neutral" rating to an "outperform" rating and increased their price target for the stock from $189.00 to $205.00 in a research report on Wednesday, April 15th. UBS Group dropped their price target on shares of American Tower from $254.00 to $248.00 and set a "buy" rating for the company in a research report on Wednesday, February 25th. Barclays dropped their price target on shares of 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. Finally, Truist Financial increased their price target on shares of American Tower from $205.00 to $208.00 and gave the stock a "buy" rating in a research report on Thursday, April 30th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $216.20.

Insiders Place Their Bets

In other American Tower news, EVP Ruth T. Dowling sold 416 shares of the company's stock in a transaction dated Wednesday, April 29th. The shares were sold at an average price of $177.54, for a total transaction of $73,856.64. Following the sale, the executive vice president directly owned 29,461 shares of the company's stock, valued at approximately $5,230,505.94. This represents a 1.39% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.08% of the company's stock.

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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