Commerzbank Aktiengesellschaft FI Takes Position in American Tower Corporation $AMT

Key Points

• Commerzbank Aktiengesellschaft FI acquired 46,175 American Tower shares in the second quarter, valued at approximately $7.55 million. Institutional investors collectively own 92.69% of the REIT.
• American Tower exceeded quarterly earnings expectations, reporting $2.71 in EPS versus the $1.57 consensus estimate, while revenue rose 4.6% year over year to $2.75 billion.
• The company pays a quarterly dividend of $1.79 per share, equivalent to a 4.2% yield, and analysts maintain a “Moderate Buy” consensus with an average price target of $215.14.

Commerzbank Aktiengesellschaft FI purchased a new position in American Tower Corporation (NYSE:AMT - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 46,175 shares of the real estate investment trust's stock, valued at approximately $7,553,000.

Several other large investors also recently added to or reduced their stakes in the stock. Oakworth Capital Inc. raised its stake in shares of American Tower by 90.7% during the fourth quarter. Oakworth Capital Inc. now owns 143 shares of the real estate investment trust's stock valued at $25,000 after acquiring an additional 68 shares in the last quarter. Richards Merrill & Peterson Inc. purchased a new position in American Tower during the 4th quarter worth $25,000. Swiss RE Ltd. bought a new stake in American Tower during the 4th quarter valued at $25,000. Triumph Capital Management bought a new stake in American Tower during the 3rd quarter valued at $29,000. Finally, Acumen Wealth Advisors LLC purchased a new position in shares of American Tower during the fourth quarter valued at $29,000. 92.69% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, EVP Ruth T. Dowling sold 1,106 shares of the 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 completion of the sale, the executive vice president owned 27,711 shares in the company, valued at approximately $4,848,316.56. This represents a 3.84% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, 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 directly owned 21,428 shares of the company's stock, valued at $3,833,254.92. The trade was a 18.92% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 6,791 shares of company stock worth $1,204,091. Insiders own 0.08% of the company's stock.

American Tower Stock Down 2.0%

NYSE:AMT opened at $172.12 on Tuesday. American Tower Corporation has a fifty-two week low of $160.06 and a fifty-two week high of $214.79. The stock has a market capitalization of $80.20 billion, a P/E ratio of 23.68, a P/E/G ratio of 2.79 and a beta of 0.90. The company has a debt-to-equity ratio of 3.12, a quick ratio of 0.52 and a current ratio of 0.52. The company's 50-day simple moving average is $172.48 and its 200-day simple moving average is $177.87.

American Tower (NYSE:AMT - Get Free Report) last posted its quarterly earnings data on Tuesday, July 28th. The real estate investment trust reported $2.71 EPS for the quarter, topping the consensus estimate of $1.57 by $1.14. American Tower had a net margin of 31.08% and a return on equity of 32.76%. The firm had revenue of $2.75 billion during the quarter, compared to analyst estimates of $2.70 billion. During the same quarter in the previous year, the business posted $2.60 EPS. American Tower's revenue was up 4.6% on a year-over-year basis. American Tower has set its FY 2026 guidance at 11.000-11.170 EPS. On average, equities analysts anticipate that American Tower Corporation will post 10.78 earnings per share for the current fiscal year.

American Tower Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, July 13th. Stockholders of record on Friday, June 12th were given a dividend of $1.79 per share. The ex-dividend date of this dividend was Friday, June 12th. This represents a $7.16 dividend on an annualized basis and a dividend yield of 4.2%. American Tower's dividend payout ratio is presently 98.49%.

Analysts Set New Price Targets

A number of research firms recently weighed in on AMT. Raymond James Financial reaffirmed a "strong-buy" rating and issued a $240.00 price objective on shares of American Tower in a research note on Wednesday, April 29th. Wolfe Research upgraded shares of American Tower from a "peer perform" rating to an "outperform" rating and set a $188.00 price target for the company in a report on Wednesday, July 8th. Scotiabank reaffirmed an "outperform" rating on shares of American Tower in a research report on Wednesday, July 29th. The Goldman Sachs Group set a $210.00 price objective on shares of American Tower in a report on Tuesday, July 28th. Finally, Jefferies Financial Group lowered their target price on American Tower from $210.00 to $201.00 and set a "buy" rating for the company in a report on Wednesday, July 15th. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, American Tower presently has an average rating of "Moderate Buy" and an average price target of $215.14.

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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