Eurizon Capital SGR S.p.A. Invests $40.01 Million in American Tower Corporation $AMT

Key Points

• Eurizon Capital SGR opened a new position in American Tower, buying 227,730 shares valued at about $40.0 million in the fourth quarter.
• American Tower’s latest quarter beat expectations, with EPS of $2.84 versus $1.60 expected and revenue of $2.74 billion, up 6.8% year over year.
• The company declared a quarterly dividend of $1.79 per share payable July 13, and analysts currently rate the stock Moderate Buy with an average price target of $216.20.

Eurizon Capital SGR S.p.A. purchased a new position in shares of American Tower Corporation (NYSE:AMT - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 227,730 shares of the real estate investment trust's stock, valued at approximately $40,008,000.

Several other large investors have also recently bought and sold shares of the business. Personal CFO Solutions LLC raised its position in American Tower by 3.5% in the fourth quarter. Personal CFO Solutions LLC now owns 1,667 shares of the real estate investment trust's stock worth $293,000 after acquiring an additional 57 shares in the last quarter. Conscious Wealth Investments LLC raised its position in American Tower by 0.5% in the third quarter. Conscious Wealth Investments LLC now owns 11,852 shares of the real estate investment trust's stock worth $2,121,000 after acquiring an additional 60 shares in the last quarter. SPC Financial Inc. raised its position in American Tower by 1.5% in the third quarter. SPC Financial Inc. now owns 4,093 shares of the real estate investment trust's stock worth $787,000 after acquiring an additional 61 shares in the last quarter. Cary Street Partners Financial LLC raised its position in American Tower by 0.4% in the third quarter. Cary Street Partners Financial LLC now owns 15,152 shares of the real estate investment trust's stock worth $2,914,000 after acquiring an additional 62 shares in the last quarter. Finally, Concord Wealth Partners raised its position in American Tower by 6.6% in the fourth quarter. Concord Wealth Partners now owns 995 shares of the real estate investment trust's stock worth $175,000 after acquiring an additional 62 shares in the last quarter. Hedge funds and other institutional investors own 92.69% of the company's stock.

American Tower Trading Up 0.1%

Shares of AMT stock opened at $186.87 on Friday. American Tower Corporation has a fifty-two week low of $165.08 and a fifty-two week high of $234.33. The stock has a market cap of $87.06 billion, a P/E ratio of 30.19, a P/E/G ratio of 0.78 and a beta of 0.90. The business has a fifty day simple moving average of $177.67 and a 200-day simple moving average of $179.37. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 3.07.

American Tower (NYSE:AMT - Get Free Report) last announced its quarterly earnings results on Tuesday, April 28th. The real estate investment trust reported $2.84 earnings per share for the quarter, beating 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 business had revenue of $2.74 billion during the quarter, compared to analysts' expectations of $2.66 billion. During the same quarter last year, the business posted $2.75 earnings per share. The business'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. On average, analysts forecast that American Tower Corporation will post 10.67 earnings per share for the current fiscal year.

American Tower Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 13th. Investors 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 presently 115.67%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on AMT shares. 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 report on Tuesday, April 14th. BMO Capital Markets increased their price objective on American Tower from $185.00 to $200.00 and gave the stock a "market perform" rating in a research report on Wednesday, February 25th. Raymond James Financial restated a "strong-buy" rating and issued a $240.00 price target on shares of American Tower in a research report on Wednesday, April 29th. Mizuho upgraded American Tower from a "neutral" rating to an "outperform" rating and raised their price target for the company from $189.00 to $205.00 in a research report on Wednesday, April 15th. Finally, Citizens Jmp restated a "market outperform" rating and issued a $260.00 price target on shares of American Tower in a research report on Wednesday, April 29th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $216.20.

Insider Activity at American Tower

In related news, Director Rajesh Kalathur acquired 2,671 shares of the firm's stock in a transaction that occurred on Tuesday, March 10th. The shares were acquired 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 approximately $914,640.80. The trade was a 117.92% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Ruth T. Dowling sold 416 shares of the stock in a transaction on Wednesday, April 29th. The shares were sold at an average price of $177.54, for a total value of $73,856.64. Following the sale, the executive vice president directly owned 29,461 shares in the company, valued at approximately $5,230,505.94. The trade was a 1.39% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 42,181 shares of company stock valued at $8,046,071 over the last quarter. Insiders own 0.08% of the company's stock.

American Tower Company 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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