Impax Asset Management Group plc Has $21.73 Million Stock Position in American Tower Corporation $AMT

Key Points

• Impax Asset Management Group plc reduced its stake in American Tower by 7.7%, selling 10,254 shares and finishing the quarter with 123,777 shares valued at $21.73 million.
• Insider activity was mixed: Director Rajesh Kalathur purchased 2,671 shares (~$494,936) while COO Eugene M. Noel sold 41,209 shares for about $7.87 million, cutting his holding by 58%.
• American Tower raised its quarterly dividend to $1.79 (annualized $7.16) for a ~4.0% yield, though the payout ratio is high at 132.84%.

Impax Asset Management Group plc reduced its stake in American Tower Corporation (NYSE:AMT - Free Report) by 7.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 123,777 shares of the real estate investment trust's stock after selling 10,254 shares during the quarter. Impax Asset Management Group plc's holdings in American Tower were worth $21,732,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. SOA Wealth Advisors LLC. increased its holdings in American Tower by 36.7% in the third quarter. SOA Wealth Advisors LLC. now owns 205 shares of the real estate investment trust's stock worth $39,000 after purchasing an additional 55 shares in the last quarter. Personal CFO Solutions LLC increased its holdings 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 purchasing an additional 57 shares in the last quarter. Pines Wealth Management LLC increased its holdings in American Tower by 4.1% in the third quarter. Pines Wealth Management LLC now owns 1,488 shares of the real estate investment trust's stock worth $286,000 after purchasing an additional 58 shares in the last quarter. Pasadena Private Wealth LLC increased its holdings in American Tower by 4.0% in the third quarter. Pasadena Private Wealth LLC now owns 1,544 shares of the real estate investment trust's stock worth $297,000 after purchasing an additional 60 shares in the last quarter. Finally, Conscious Wealth Investments LLC increased its stake 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 valued at $2,121,000 after purchasing an additional 60 shares in the last quarter. 92.69% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at American Tower

In other American Tower news, Director Rajesh Kalathur acquired 2,671 shares of the business's stock in a transaction 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 transaction, the director owned 4,936 shares in the company, valued at approximately $914,640.80. This trade represents a 117.92% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. 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 transaction, the chief operating officer directly owned 29,592 shares in the company, valued at $5,653,551.60. This represents a 58.20% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.17% of the stock is currently owned by insiders.

American Tower Trading Down 0.3%

Shares of American Tower stock opened at $178.43 on Friday. The stock has a fifty day simple moving average of $180.88 and a 200 day simple moving average of $180.26. American Tower Corporation has a 12-month low of $165.08 and a 12-month high of $234.33. The company has a market capitalization of $83.16 billion, a P/E ratio of 33.10, a price-to-earnings-growth ratio of 0.75 and a beta of 0.92. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 3.27.

American Tower (NYSE:AMT - Get Free Report) last posted its quarterly earnings data on Tuesday, February 24th. The real estate investment trust reported $1.75 earnings per share for the quarter, missing the consensus estimate of $2.54 by ($0.79). American Tower had a return on equity of 24.36% and a net margin of 23.76%.The business had revenue of $2.74 billion during the quarter, compared to analysts' expectations of $2.69 billion. During the same period in the prior year, the firm posted $2.62 EPS. The firm's revenue for the quarter was up 7.5% on a year-over-year basis. American Tower has set its FY 2026 guidance at 10.780-10.950 EPS. On average, sell-side analysts anticipate that American Tower Corporation will post 10.59 earnings per share for the current fiscal year.

American Tower Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 28th. Shareholders of record on Tuesday, April 14th will be given a $1.79 dividend. This is an increase from American Tower's previous quarterly dividend of $1.70. This represents a $7.16 annualized dividend and a yield of 4.0%. The ex-dividend date of this dividend is Tuesday, April 14th. American Tower's payout ratio is presently 132.84%.

Wall Street Analysts Forecast Growth

AMT has been the subject of several research reports. Weiss Ratings restated a "hold (c)" rating on shares of American Tower in a research note on Monday, December 29th. Mizuho upgraded American Tower from a "neutral" rating to an "outperform" rating and boosted their price objective for the company from $189.00 to $205.00 in a report on Wednesday, April 15th. Jefferies Financial Group boosted their price objective on American Tower from $209.00 to $210.00 and gave the company a "buy" rating in a report on Tuesday, April 14th. TD Cowen decreased their price objective on American Tower from $235.00 to $225.00 in a report on Wednesday, February 25th. Finally, BMO Capital Markets upped their price target on American Tower from $185.00 to $200.00 and gave the stock a "market perform" rating in a report on Wednesday, February 25th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, American Tower currently has an average rating of "Moderate Buy" and an average price target of $217.33.

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.

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.