Harber Asset Management LLC Boosts Position in American Tower Corporation $AMT

Key Points

• Harber Asset Management increased its stake in American Tower by 17.1% in the fourth quarter, bringing its holdings to 45,833 shares worth about $8.05 million.
• American Tower beat quarterly expectations, reporting $2.84 EPS 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, or $7.16 annually, implying a 3.8% yield; analysts currently view the stock as a Moderate Buy with a $216.20 price target.

Harber Asset Management LLC raised its holdings in shares of American Tower Corporation (NYSE:AMT - Free Report) by 17.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 45,833 shares of the real estate investment trust's stock after acquiring an additional 6,697 shares during the period. American Tower makes up about 3.4% of Harber Asset Management LLC's portfolio, making the stock its 16th biggest position. Harber Asset Management LLC's holdings in American Tower were worth $8,047,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Richards Merrill & Peterson Inc. acquired a new stake in American Tower during the 4th quarter valued at approximately $25,000. Oakworth Capital Inc. lifted its stake in American Tower by 90.7% during the 4th quarter. Oakworth Capital Inc. now owns 143 shares of the real estate investment trust's stock valued at $25,000 after acquiring an additional 68 shares during the period. Swiss RE Ltd. acquired a new stake in American Tower during the 4th quarter valued at approximately $25,000. Holos Integrated Wealth LLC acquired a new stake in American Tower during the 4th quarter valued at approximately $27,000. Finally, Triumph Capital Management acquired a new stake in American Tower during the 3rd quarter valued at approximately $29,000. 92.69% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Jefferies Financial Group boosted their price target on American Tower from $209.00 to $210.00 and gave the company a "buy" rating in a report on Tuesday, April 14th. BMO Capital Markets boosted their price target on American Tower from $185.00 to $200.00 and gave the company a "market perform" rating in a report on Wednesday, February 25th. Weiss Ratings raised American Tower from a "hold (c-)" rating to a "hold (c)" rating in a report on Monday, May 11th. UBS Group decreased their price target on American Tower from $254.00 to $248.00 and set a "buy" rating for the company in a report on Wednesday, February 25th. Finally, Raymond James Financial reissued a "strong-buy" rating and issued a $240.00 price target on shares of American Tower in a report on Wednesday, April 29th. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $216.20.

Insider Activity at American Tower

In other news, EVP Ruth T. Dowling sold 416 shares of the business's stock in a transaction that occurred on Wednesday, April 29th. The stock was sold at an average price of $177.54, for a total value of $73,856.64. Following the completion of the sale, the executive vice president directly owned 29,461 shares in the company, valued at $5,230,505.94. The trade was a 1.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 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 1.1%

American Tower stock opened at $187.20 on Friday. The stock has a market capitalization of $87.22 billion, a PE ratio of 30.24, a price-to-earnings-growth ratio of 0.78 and a beta of 0.90. American Tower Corporation has a 12 month low of $165.08 and a 12 month high of $234.33. The business has a 50 day simple moving average of $181.01 and a 200-day simple moving average of $179.92. The company has a debt-to-equity ratio of 3.07, a current ratio of 0.43 and a quick ratio of 0.43.

American Tower (NYSE:AMT - Get Free Report) last posted 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. The business had revenue of $2.74 billion during the quarter, compared to analysts' expectations of $2.66 billion. American Tower had a return on equity of 27.79% and a net margin of 26.81%.The business's revenue was up 6.8% compared to the same quarter last year. During the same period in the previous year, the business earned $2.75 earnings per share. American Tower has set its FY 2026 guidance at 10.900-11.07 EPS. On average, analysts anticipate that American Tower Corporation will post 10.67 EPS for the current fiscal year.

American Tower Announces Dividend

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

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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