Cibc World Market Inc. Raises Stock Holdings in American Tower Corporation $AMT

Key Points

• Cibc World Market Inc. increased its stake in American Tower by 27.9% in the fourth quarter, holding 322,815 shares valued at about $56.7 million.
• American Tower reported strong quarterly results, with EPS of $2.84 versus estimates of $1.60 and revenue of $2.74 billion, while also raising FY 2026 EPS guidance to 10.90–11.07.
• The company announced a quarterly dividend of $1.79 per share, payable July 13, which annualizes to $7.16 per share and yields about 3.7%.

Cibc World Market Inc. lifted its stake in American Tower Corporation (NYSE:AMT - Free Report) by 27.9% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 322,815 shares of the real estate investment trust's stock after buying an additional 70,348 shares during the quarter. Cibc World Market Inc. owned about 0.07% of American Tower worth $56,677,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in AMT. Oakworth Capital Inc. increased its stake 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 worth $25,000 after purchasing an additional 68 shares in the last quarter. Richards Merrill & Peterson Inc. purchased a new position in shares of American Tower during the 4th quarter valued at $25,000. Triumph Capital Management bought a new position in American Tower in the 3rd quarter worth $29,000. Holos Integrated Wealth LLC purchased a new stake in American Tower in the 4th quarter worth $27,000. Finally, Westside Investment Management Inc. increased its stake in American Tower by 103.6% in the 3rd quarter. Westside Investment Management Inc. now owns 169 shares of the real estate investment trust's stock worth $33,000 after buying an additional 86 shares in the last quarter. 92.69% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on AMT shares. Scotiabank boosted their price objective on American Tower from $214.00 to $218.00 and gave the company an "outperform" rating in a research report on Wednesday, April 29th. JPMorgan Chase & Co. cut their target price on American Tower from $245.00 to $240.00 and set an "overweight" rating for the company in a research report on Wednesday, April 29th. Jefferies Financial Group boosted their price target on American Tower from $209.00 to $210.00 and gave the stock a "buy" rating in a report on Tuesday, April 14th. BMO Capital Markets upped their price target on American Tower from $185.00 to $200.00 and gave the stock a "market perform" rating in a research note on Wednesday, February 25th. Finally, TD Cowen cut their price objective on shares of American Tower from $235.00 to $225.00 in a report on Wednesday, February 25th. One 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. According to MarketBeat, American Tower currently has a consensus rating of "Moderate Buy" and a consensus target price of $216.20.

Insider Buying and Selling

In other American Tower news, Director Rajesh Kalathur purchased 2,671 shares of the firm's stock in a transaction that occurred on Tuesday, March 10th. The shares were bought at an average price of $185.30 per share, with a total value of $494,936.30. Following the completion of the purchase, the director directly owned 4,936 shares in the company, valued at $914,640.80. This trade represents a 117.92% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Ruth T. Dowling sold 556 shares of the 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 owned 29,877 shares of the company's stock, valued at $5,332,446.96. This trade represents a 1.83% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.08% of the stock is currently owned by corporate insiders.

American Tower Trading Up 6.6%

Shares of American Tower stock opened at $194.34 on Friday. American Tower Corporation has a twelve month low of $165.08 and a twelve 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 business has a 50-day moving average price of $178.55 and a 200-day moving average price of $179.48. The firm has a market cap of $90.54 billion, a price-to-earnings ratio of 31.40, a PEG ratio of 0.76 and a beta of 0.90.

American Tower (NYSE:AMT - Get Free Report) last posted its earnings results on Tuesday, April 28th. The real estate investment trust reported $2.84 EPS for the quarter, topping analysts' consensus estimates of $1.60 by $1.24. American Tower had a return on equity of 27.79% and a net margin of 26.81%.The company had revenue of $2.74 billion for the quarter, compared to the consensus estimate of $2.66 billion. During the same period in the previous year, the business earned $2.75 earnings per share. The firm's revenue for the quarter was up 6.8% on a year-over-year basis. American Tower has set its FY 2026 guidance at 10.900-11.07 EPS. Equities research analysts anticipate that American Tower Corporation will post 10.67 EPS for the current fiscal year.

American Tower Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 13th. Stockholders of record on Friday, June 12th will be issued a dividend of $1.79 per share. This represents a $7.16 annualized dividend and a dividend yield of 3.7%. The ex-dividend date of this dividend is Friday, June 12th. American Tower's dividend payout ratio is 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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