Erste Asset Management GmbH Has $7.01 Million Stock Position in American Tower Corporation $AMT

Key Points

• Erste Asset Management GmbH cut its American Tower stake by 37.6% in the fourth quarter, selling 24,054 shares and ending with 39,876 shares valued at about $7.01 million.
• American Tower beat earnings expectations in its latest quarter, reporting EPS of $2.84 versus the $1.60 consensus and revenue of $2.74 billion, up 6.8% year over year.
• The company also announced a quarterly dividend of $1.79 per share, implying an annualized yield of 3.8%, while analysts currently rate the stock Moderate Buy with an average target price of $216.20.

Erste Asset Management GmbH decreased its stake in American Tower Corporation (NYSE:AMT - Free Report) by 37.6% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 39,876 shares of the real estate investment trust's stock after selling 24,054 shares during the quarter. Erste Asset Management GmbH's holdings in American Tower were worth $7,012,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Oakworth Capital Inc. boosted its position in shares of American Tower by 90.7% in the 4th quarter. Oakworth Capital Inc. now owns 143 shares of the real estate investment trust's stock valued at $25,000 after purchasing an additional 68 shares during the period. Richards Merrill & Peterson Inc. purchased a new stake in American Tower in the 4th quarter worth about $25,000. Triumph Capital Management purchased a new stake in American Tower in the 3rd quarter worth about $29,000. Holos Integrated Wealth LLC purchased a new stake in American Tower in the 4th quarter worth about $27,000. Finally, Lloyd Advisory Services LLC. purchased a new stake in American Tower in the 4th quarter worth about $30,000. Institutional investors and hedge funds own 92.69% of the company's stock.

Insider Buying and Selling at American Tower

In other news, EVP Ruth T. Dowling sold 416 shares of the firm'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 completion of the sale, the executive vice president directly owned 29,461 shares of the company's stock, valued at $5,230,505.94. This trade represents a 1.39% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.08% of the stock is owned by company insiders.

American Tower Stock Down 2.6%

AMT opened at $189.09 on Tuesday. American Tower Corporation has a fifty-two week low of $165.08 and a fifty-two week high of $234.33. The business has a 50-day moving average of $179.49 and a 200-day moving average of $179.63. The company has a debt-to-equity ratio of 3.07, a current ratio of 0.43 and a quick ratio of 0.43. The company has a market capitalization of $88.09 billion, a PE ratio of 30.55, a price-to-earnings-growth ratio of 0.81 and a beta of 0.90.

American Tower (NYSE:AMT - Get Free Report) last posted its quarterly earnings results on Tuesday, April 28th. The real estate investment trust reported $2.84 earnings per share 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 during the quarter, compared to the consensus estimate of $2.66 billion. During the same period last year, the business earned $2.75 EPS. The business's quarterly revenue 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 forecast that American Tower Corporation will post 10.67 EPS for the current fiscal year.

American Tower Dividend Announcement

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

Analysts Set New Price Targets

Several brokerages recently issued reports on AMT. TD Cowen reduced their price objective on American Tower from $235.00 to $225.00 in a research note on Wednesday, February 25th. Royal Bank Of Canada reissued a "sector perform" rating and issued a $195.00 price objective on shares of American Tower in a research note on Thursday, April 30th. Sanford C. Bernstein raised American Tower from a "market perform" rating to an "outperform" rating and set a $207.00 price objective for the company in a research note on Tuesday, May 19th. Weiss Ratings raised American Tower from a "hold (c-)" rating to a "hold (c)" rating in a research note on Monday, May 11th. Finally, Jefferies Financial Group increased their price objective on American Tower from $209.00 to $210.00 and gave the stock a "buy" rating in a research note on Tuesday, April 14th. 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 company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $216.20.

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.

Want to see what other hedge funds are holding AMT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for American Tower Corporation (NYSE:AMT - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.