Forsta AP Fonden Has $31.73 Million Stock Position in American Tower Corporation $AMT

Key Points

• Forsta AP Fonden reduced its American Tower stake by 4.3% in the fourth quarter, selling 8,100 shares and ending with 180,700 shares valued at about $31.7 million.
• Wall Street remains constructive on AMT, with a consensus rating of “Moderate Buy” and an average price target of $216.20 after several firms adjusted their targets and ratings.
• American Tower reported solid quarterly results and a dividend, beating EPS expectations and posting 6.8% revenue growth year over year, while also declaring a $1.79 quarterly dividend for a 3.8% yield.

Forsta AP Fonden decreased its stake in shares of American Tower Corporation (NYSE:AMT - Free Report) by 4.3% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 180,700 shares of the real estate investment trust's stock after selling 8,100 shares during the quarter. Forsta AP Fonden's holdings in American Tower were worth $31,725,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Richards Merrill & Peterson Inc. acquired a new position in shares of American Tower during the 4th quarter worth approximately $25,000. Oakworth Capital Inc. increased its holdings in shares of American Tower by 90.7% during the 4th quarter. Oakworth Capital Inc. now owns 143 shares of the real estate investment trust's stock worth $25,000 after acquiring an additional 68 shares during the last quarter. Holos Integrated Wealth LLC acquired a new position in shares of American Tower during the 4th quarter worth approximately $27,000. Triumph Capital Management acquired a new position in shares of American Tower during the 3rd quarter worth approximately $29,000. Finally, Lloyd Advisory Services LLC. acquired a new position in shares of American Tower during the 4th quarter worth approximately $30,000. Institutional investors and hedge funds own 92.69% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on AMT shares. Jefferies Financial Group boosted their target price on American Tower from $209.00 to $210.00 and gave the stock a "buy" rating in a report on Tuesday, April 14th. Sanford C. Bernstein raised American Tower from a "market perform" rating to an "outperform" rating and set a $207.00 target price on the stock in a report on Tuesday, May 19th. TD Cowen decreased their target price on American Tower from $235.00 to $225.00 in a report on Wednesday, February 25th. Barclays decreased their price objective on American Tower from $200.00 to $195.00 and set an "equal weight" rating on the stock in a report on Thursday, April 16th. Finally, UBS Group decreased their price objective on American Tower from $254.00 to $248.00 and set a "buy" rating on the stock in a report on Wednesday, February 25th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat.com, American Tower currently has a consensus rating of "Moderate Buy" and an average target price of $216.20.

American Tower Stock Performance

Shares of NYSE AMT opened at $186.87 on Friday. 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 stock's fifty day moving average price is $177.67 and its two-hundred day moving average price is $179.37. American Tower Corporation has a one year low of $165.08 and a one year high of $234.33. The firm has a market cap of $87.06 billion, a price-to-earnings ratio of 30.19, a P/E/G ratio of 0.78 and a beta of 0.90.

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 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 firm had revenue of $2.74 billion for the quarter, compared to analyst estimates of $2.66 billion. During the same period in the prior year, the firm posted $2.75 EPS. The company'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, equities analysts forecast that American Tower Corporation will post 10.67 EPS for the current year.

American Tower Announces Dividend

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

Insider Activity

In related news, Director Rajesh Kalathur bought 2,671 shares of the business's stock in a transaction dated Tuesday, March 10th. The stock was purchased at an average cost of $185.30 per share, for a total transaction of $494,936.30. Following the transaction, the director owned 4,936 shares in the company, valued at $914,640.80. The trade was a 117.92% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Eugene M. Noel sold 41,209 shares of the company's stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $191.05, for a total value of $7,872,979.45. Following the sale, the chief operating officer owned 29,592 shares of the company's stock, valued at approximately $5,653,551.60. The trade was a 58.20% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 42,181 shares of company stock worth $8,046,071. 0.08% of the stock is currently owned by company insiders.

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.

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.