Dockside LLC Purchases New Position in American Tower Corporation $AMT

Key Points

• Dockside LLC bought 12,451 American Tower shares during the second quarter, valued at approximately $2.04 million. Institutional investors collectively own 92.69% of AMT’s outstanding stock.
• American Tower reported quarterly EPS of $2.71, beating estimates of $1.57, while revenue rose 4.6% year over year to $2.75 billion. The company also maintained a $1.79 quarterly dividend, equivalent to a 4.1% annualized yield.
• Analysts hold a generally positive view, with a consensus “Moderate Buy” rating and an average price target of $215.14, versus the stock’s recent price of $175.68.

Dockside LLC purchased a new stake in shares of American Tower Corporation (NYSE:AMT - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 12,451 shares of the real estate investment trust's stock, valued at approximately $2,037,000.

Other large investors have also added to or reduced their stakes in the company. Walleye Capital LLC bought a new position in American Tower during the second quarter valued at $28,805,000. Tema ETFs LLC increased its holdings in shares of American Tower by 16.3% in the 2nd quarter. Tema ETFs LLC now owns 9,202 shares of the real estate investment trust's stock worth $1,505,000 after buying an additional 1,290 shares during the last quarter. E. Ohman J or Asset Management AB increased its holdings in shares of American Tower by 9.4% in the 2nd quarter. E. Ohman J or Asset Management AB now owns 21,480 shares of the real estate investment trust's stock worth $3,513,000 after buying an additional 1,850 shares during the last quarter. Handelsbanken Fonder AB raised its position in shares of American Tower by 2.4% during the 2nd quarter. Handelsbanken Fonder AB now owns 207,269 shares of the real estate investment trust's stock valued at $33,903,000 after buying an additional 4,916 shares in the last quarter. Finally, Community Financial Services Group LLC lifted its holdings in shares of American Tower by 1.2% in the 2nd quarter. Community Financial Services Group LLC now owns 5,388 shares of the real estate investment trust's stock valued at $895,000 after acquiring an additional 65 shares during the last quarter. Institutional investors own 92.69% of the company's stock.

Insider Transactions at American Tower

In other news, EVP Ruth T. Dowling sold 1,106 shares of American Tower stock in a transaction that occurred on Wednesday, July 29th. The shares were 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 of the company's stock, valued at approximately $4,848,316.56. The trade was a 3.84% decrease in their ownership of the stock. The transaction 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, CFO Robert Joseph Meyer sold 5,000 shares of the stock in a transaction that occurred 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 transaction, the chief financial officer directly owned 21,428 shares in the company, valued at approximately $3,833,254.92. This trade represents a 18.92% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 6,791 shares of company stock valued at $1,204,091 in the last quarter. 0.08% of the stock is currently owned by company insiders.

American Tower Trading Up 0.9%

AMT opened at $175.68 on Friday. 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 stock's 50 day moving average price is $172.82 and its 200-day moving average price is $177.94. American Tower Corporation has a one year low of $160.06 and a one year high of $214.79. The stock has a market cap of $81.86 billion, a price-to-earnings ratio of 24.17, a P/E/G ratio of 2.76 and a beta of 0.90.

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 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.57 by $1.14. American Tower had a return on equity of 32.76% and a net margin of 31.08%.The company had revenue of $2.75 billion during the quarter, compared to analysts' expectations of $2.70 billion. During the same quarter in the previous year, the business earned $2.60 EPS. American Tower's revenue was up 4.6% compared to the same quarter last year. American Tower has set its FY 2026 guidance at 11.000-11.170 EPS. On average, equities analysts forecast that American Tower Corporation will post 10.78 EPS for the current year.

American Tower Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, July 13th. Investors of record on Friday, June 12th were paid a $1.79 dividend. This represents a $7.16 annualized dividend and a yield of 4.1%. The ex-dividend date of this dividend was Friday, June 12th. American Tower's dividend payout ratio (DPR) is currently 98.49%.

Wall Street Analysts Forecast Growth

AMT has been the topic of a number of recent research reports. Scotiabank restated an "outperform" rating on shares of American Tower in a research report on Wednesday, July 29th. Wolfe Research raised American Tower from a "peer perform" rating to an "outperform" rating and set a $188.00 target price on the stock in a research report on Wednesday, July 8th. TD Cowen increased their price target on American Tower from $225.00 to $227.00 and gave the company a "buy" rating in a report on Wednesday, July 29th. BMO Capital Markets raised their price target on American Tower from $190.00 to $195.00 and gave the stock a "market perform" rating in a research report on Wednesday, July 29th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of American Tower from $245.00 to $240.00 and set an "overweight" rating for the company 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 three have issued a Hold rating to the stock. Based on data from MarketBeat, American Tower currently has an average rating of "Moderate Buy" and a consensus target price 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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