Commerzbank Aktiengesellschaft FI Trims Stock Position in American Tower Corporation $AMT

Key Points

• Commerzbank Aktiengesellschaft FI cut its American Tower stake by 42.7% in the first quarter, selling 28,057 shares and leaving it with 37,639 shares valued at about $6.5 million.
• American Tower reported stronger-than-expected quarterly results, posting EPS of $2.84 versus the $1.60 consensus estimate and revenue of $2.74 billion, up 6.8% from a year earlier.
• The company continues to return cash to shareholders with a quarterly dividend of $1.79 per share, equal to a $7.16 annualized payout and a 4.3% yield, though the payout ratio is elevated at 115.67%.

Commerzbank Aktiengesellschaft FI reduced its position in shares of American Tower Corporation (NYSE:AMT - Free Report) by 42.7% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 37,639 shares of the real estate investment trust's stock after selling 28,057 shares during the quarter. Commerzbank Aktiengesellschaft FI's holdings in American Tower were worth $6,496,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in AMT. Brighton Jones LLC increased its position in American Tower by 113.0% during the 4th quarter. Brighton Jones LLC now owns 3,966 shares of the real estate investment trust's stock valued at $727,000 after purchasing an additional 2,104 shares during the period. Sivia Capital Partners LLC lifted its position in shares of American Tower by 34.3% in the 2nd quarter. Sivia Capital Partners LLC now owns 1,442 shares of the real estate investment trust's stock worth $319,000 after purchasing an additional 368 shares during the period. United Bank boosted its stake in shares of American Tower by 12.7% during the second quarter. United Bank now owns 6,488 shares of the real estate investment trust's stock valued at $1,434,000 after purchasing an additional 733 shares in the last quarter. Treasurer of the State of North Carolina boosted its stake in shares of American Tower by 2.2% during the second quarter. Treasurer of the State of North Carolina now owns 218,511 shares of the real estate investment trust's stock valued at $48,295,000 after purchasing an additional 4,778 shares in the last quarter. Finally, Ieq Capital LLC increased its holdings in American Tower by 52.2% during the second quarter. Ieq Capital LLC now owns 34,248 shares of the real estate investment trust's stock valued at $7,570,000 after buying an additional 11,751 shares during the period. Institutional investors own 92.69% of the company's stock.

American Tower Stock Performance

Shares of AMT stock opened at $167.00 on Tuesday. The business's fifty day simple moving average is $177.43 and its 200-day simple moving average is $178.65. The company has a market cap of $77.80 billion, a PE ratio of 26.98, a PEG ratio of 0.71 and a beta of 0.91. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 3.07. American Tower Corporation has a 12-month low of $160.06 and a 12-month high of $234.33.

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 EPS for the quarter, beating 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 during the quarter, compared to analyst estimates of $2.66 billion. During the same quarter in the prior year, the business posted $2.75 EPS. The business's revenue for the quarter was up 6.8% compared to the same quarter last year. American Tower has set its FY 2026 guidance at 10.900-11.07 EPS. Analysts expect that American Tower Corporation will post 10.66 earnings per share for the current fiscal year.

American Tower Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, July 13th. Shareholders of record on Friday, June 12th were issued a $1.79 dividend. This represents a $7.16 annualized dividend and a yield of 4.3%. The ex-dividend date of this dividend was Friday, June 12th. American Tower's dividend payout ratio (DPR) is currently 115.67%.

Insiders Place Their Bets

In other news, EVP Ruth T. Dowling sold 416 shares of the business's stock in a transaction dated Wednesday, April 29th. The stock was sold at an average price of $177.54, for a total transaction of $73,856.64. Following the sale, the executive vice president owned 29,461 shares in the company, valued at approximately $5,230,505.94. The trade was a 1.39% decrease in their ownership of the stock. The sale was disclosed in a legal 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. Corporate insiders own 0.08% of the company's stock.

Analyst Upgrades and Downgrades

AMT has been the subject of a number of analyst reports. Royal Bank Of Canada upgraded American Tower from a "sector perform" rating to an "outperform" rating and upped their target price for the stock from $195.00 to $205.00 in a report on Friday, June 26th. Mizuho upgraded American Tower from a "neutral" rating to an "outperform" rating and lifted their price target for the company from $189.00 to $205.00 in a report on Wednesday, April 15th. Barclays reduced their price target on 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. The Goldman Sachs Group initiated coverage on American Tower in a research note on Friday, June 26th. They set a "buy" rating and a $215.00 price objective for the company. Finally, JPMorgan Chase & Co. cut their target price on American Tower from $245.00 to $240.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 29th. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $215.57.

American Tower 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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