Heard Capital LLC Boosts Holdings in American Tower Corporation $AMT

Key Points

• Heard Capital LLC increased its stake in American Tower by 14.4% in the fourth quarter, buying 146,075 additional shares and bringing its total holdings to 1,162,440 shares valued at about $204.1 million.
• American Tower posted stronger-than-expected quarterly results, with EPS of $2.84 beating estimates and revenue of $2.74 billion topping forecasts; revenue also rose 6.8% year over year.
• The company announced a quarterly dividend of $1.79 per share, payable July 13, implying an annualized dividend of $7.16 and a yield of 3.9%.

Heard Capital LLC lifted its position in American Tower Corporation (NYSE:AMT - Free Report) by 14.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 1,162,440 shares of the real estate investment trust's stock after purchasing an additional 146,075 shares during the quarter. American Tower accounts for approximately 9.6% of Heard Capital LLC's holdings, making the stock its 5th biggest holding. Heard Capital LLC owned approximately 0.25% of American Tower worth $204,090,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. CIBC Bancorp USA Inc. bought a new position in American Tower in the 3rd quarter valued at $35,633,000. Nordea Investment Management AB boosted its position in American Tower by 10.4% in the 4th quarter. Nordea Investment Management AB now owns 1,743,321 shares of the real estate investment trust's stock valued at $306,284,000 after buying an additional 164,645 shares during the last quarter. Mondrian Investment Partners LTD bought a new position in American Tower in the 3rd quarter valued at $1,019,000. Rathbones Group PLC boosted its position in American Tower by 14.9% in the 4th quarter. Rathbones Group PLC now owns 474,216 shares of the real estate investment trust's stock valued at $83,258,000 after buying an additional 61,428 shares during the last quarter. Finally, Legal & General Group Plc boosted its position in American Tower by 4.7% in the 4th quarter. Legal & General Group Plc now owns 4,873,695 shares of the real estate investment trust's stock valued at $855,675,000 after buying an additional 220,447 shares during the last quarter. Institutional investors own 92.69% of the company's stock.

American Tower Stock Down 0.7%

Shares of NYSE AMT opened at $184.39 on Wednesday. The firm has a market capitalization of $85.90 billion, a PE ratio of 29.79, a price-to-earnings-growth ratio of 0.78 and a beta of 0.90. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 3.07. American Tower Corporation has a 1 year low of $165.08 and a 1 year high of $234.33. The firm's 50-day moving average is $181.47 and its 200-day moving average is $179.99.

American Tower (NYSE:AMT - Get Free Report) last issued its earnings results on Tuesday, April 28th. The real estate investment trust reported $2.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.60 by $1.24. American Tower had a net margin of 26.81% and a return on equity of 27.79%. The company had revenue of $2.74 billion for the quarter, compared to analyst estimates of $2.66 billion. During the same quarter last year, the firm earned $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. Equities analysts expect that American Tower Corporation will post 10.67 EPS for the current year.

American Tower Announces Dividend

The company 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 annualized dividend and a yield of 3.9%. American Tower's dividend payout ratio (DPR) is presently 115.67%.

Insiders Place Their Bets

In related news, EVP Ruth T. Dowling sold 556 shares of American Tower stock in a transaction that occurred on Tuesday, April 28th. The shares were sold at an average price of $178.48, for a total transaction of $99,234.88. Following the transaction, the executive vice president owned 29,877 shares of the company's stock, valued at $5,332,446.96. This trade represents a 1.83% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.08% of the stock is owned by insiders.

Key Headlines Impacting American Tower

Here are the key news stories impacting American Tower this week:

• Positive Sentiment: Bernstein reiterated a bullish view on American Tower, upgrading AMT to Outperform with a $207 price target. The firm pointed to long-term demand from 5G expansion and data center growth, while saying the stock’s sensitivity to interest rates is easing. Article: Bernstein Upgrades American Tower (AMT) on Long-Term 5G and Data Center Demand
• Positive Sentiment: Recent coverage also highlighted American Tower as a beneficiary of expanding digital infrastructure, which can support leasing demand for its tower portfolio over time. Article: American Tower Gains Attention As Digital Infrastructure Expands
• Neutral Sentiment: Several articles framed AMT as a valuation and volatility debate rather than a clear near-term catalyst, with investors weighing its stable infrastructure cash flows against rate risk and competition concerns. Article: AMT vs. PSA: Which Stock Is the Better Value Option?
• Neutral Sentiment: A separate market commentary piece said American Tower has been volatile recently, with short-term moves offsetting a stronger multi-month recovery, which suggests investors are still reassessing the stock’s risk/reward profile. Article: American Tower (AMT) Stock After Recent Volatility Is The Current Price A Potential Opportunity

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. BMO Capital Markets raised their target price on shares of American Tower from $185.00 to $200.00 and gave the company a "market perform" rating in a research note on Wednesday, February 25th. Barclays reduced their target price on shares of American Tower from $200.00 to $195.00 and set an "equal weight" rating on the stock in a research note on Thursday, April 16th. Royal Bank Of Canada reaffirmed a "sector perform" rating and issued a $195.00 target price on shares of American Tower in a research note on Thursday, April 30th. UBS Group reduced their target price on shares of American Tower from $254.00 to $248.00 and set a "buy" rating on the stock in a research note on Wednesday, February 25th. Finally, Scotiabank raised their target price on shares of American Tower from $214.00 to $218.00 and gave the company an "outperform" rating in a research note on Wednesday, April 29th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and five have given a Hold rating to the company's stock. According to data from MarketBeat, American Tower presently has a consensus 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.

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