Intech Investment Management LLC Buys 270,347 Shares of American Tower Corporation $AMT

Key Points

• Intech Investment Management dramatically boosted its American Tower stake by 1,406.7% in the fourth quarter, buying 270,347 additional shares. The fund now owns 289,566 shares worth about $50.8 million.
• American Tower’s stock has drawn mostly positive analyst attention, with a Moderate Buy consensus and an average price target of $216.20. Recent targets ranged from $200 to $260, though one firm trimmed its target to $225.
• The REIT reported strong quarterly results, posting $2.84 EPS versus the $1.60 estimate and revenue of $2.74 billion, while also announcing a quarterly dividend of $1.79 per share. The dividend implies an annualized yield of about 3.8%.

Intech Investment Management LLC increased its holdings in shares of American Tower Corporation (NYSE:AMT - Free Report) by 1,406.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 289,566 shares of the real estate investment trust's stock after purchasing an additional 270,347 shares during the period. Intech Investment Management LLC owned approximately 0.06% of American Tower worth $50,839,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the business. Vanguard Group Inc. lifted its holdings in shares of American Tower by 1.0% during the 3rd quarter. Vanguard Group Inc. now owns 63,640,168 shares of the real estate investment trust's stock valued at $12,239,277,000 after purchasing an additional 611,801 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of American Tower by 1.7% during the 4th quarter. Geode Capital Management LLC now owns 13,499,035 shares of the real estate investment trust's stock valued at $2,361,675,000 after purchasing an additional 227,361 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of American Tower by 20,721.6% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 9,712,672 shares of the real estate investment trust's stock valued at $1,705,254,000 after purchasing an additional 9,666,025 shares in the last quarter. Invesco Ltd. lifted its holdings in shares of American Tower by 3.1% during the 3rd quarter. Invesco Ltd. now owns 6,888,633 shares of the real estate investment trust's stock valued at $1,324,822,000 after purchasing an additional 208,109 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its holdings in shares of American Tower by 1.0% during the 4th quarter. Principal Financial Group Inc. now owns 6,038,061 shares of the real estate investment trust's stock valued at $1,060,103,000 after purchasing an additional 57,545 shares in the last quarter. Institutional investors own 92.69% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on AMT shares. Citizens Jmp reiterated a "market outperform" rating and set a $260.00 price objective on shares of American Tower in a report on Wednesday, April 29th. TD Cowen cut their target price on American Tower from $235.00 to $225.00 in a research note on Wednesday, February 25th. BMO Capital Markets boosted their target price on American Tower from $185.00 to $200.00 and gave the company a "market perform" rating in a research note on Wednesday, February 25th. Raymond James Financial restated a "strong-buy" rating and issued a $240.00 target price on shares of American Tower in a research note on Wednesday, April 29th. Finally, Truist Financial boosted their target price on American Tower from $205.00 to $208.00 and gave the company a "buy" rating in a research note on Thursday, April 30th. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $216.20.

Insider Buying and Selling

In other American Tower news, Director Rajesh Kalathur bought 2,671 shares of the firm's stock in a transaction that occurred on Tuesday, March 10th. The shares were acquired at an average cost of $185.30 per share, with a total value of $494,936.30. Following the acquisition, the director owned 4,936 shares of the company's stock, valued at $914,640.80. The trade was a 117.92% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Eugene M. Noel sold 41,209 shares of the business's stock in a transaction that occurred on Monday, March 2nd. The stock was 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. The trade was a 58.20% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 42,181 shares of company stock valued at $8,046,071. 0.08% of the stock is owned by insiders.

American Tower Trading Up 1.1%

Shares of NYSE:AMT opened at $187.00 on Friday. American Tower Corporation has a 52-week low of $165.08 and a 52-week high of $234.33. The company has a market capitalization of $87.12 billion, a P/E ratio of 30.21, a price-to-earnings-growth ratio of 0.77 and a beta of 0.90. The company has a 50-day simple moving average of $177.55 and a 200 day simple moving average of $179.31. The company has a debt-to-equity ratio of 3.07, a quick ratio of 0.43 and a current ratio of 0.43.

American Tower (NYSE:AMT - Get Free Report) last posted its earnings results on Tuesday, April 28th. The real estate investment trust reported $2.84 earnings per share for the quarter, topping analysts' consensus estimates of $1.60 by $1.24. The business had revenue of $2.74 billion for the quarter, compared to analyst estimates of $2.66 billion. American Tower had a return on equity of 27.79% and a net margin of 26.81%.The firm's revenue was up 6.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.75 EPS. American Tower has set its FY 2026 guidance at 10.900-11.07 EPS. Sell-side analysts forecast that American Tower Corporation will post 10.67 earnings per share for the current year.

American Tower Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 13th. Investors of record on Friday, June 12th will be issued 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 payout ratio is presently 115.67%.

American Tower 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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