J. Stern & Co. LLP Boosts Stock Position in American Tower Corporation $AMT

Key Points

• J. Stern & Co. LLP massively increased its position in American Tower, boosting its stake by 28,121.1% in the fourth quarter to 37.7 million shares worth about $6.62 billion. The holding now represents about 8.05% of the firm’s portfolio and makes AMT its 14th-largest position.
• Analysts remain broadly positive on AMT, with Bernstein upgrading the stock to Outperform and setting a $207 price target on expectations for 5G expansion, data center demand, and easing rate sensitivity. Overall, the consensus rating is Moderate Buy with a target price of $216.20.
• American Tower posted stronger-than-expected results and kept paying a sizable dividend, reporting Q1 EPS of $2.84 versus $1.60 expected and revenue of $2.74 billion, up 6.8% year over year. The company also declared a quarterly dividend of $1.79 per share, equal to a 3.9% yield.

J. Stern & Co. LLP increased its stake in shares of American Tower Corporation (NYSE:AMT - Free Report) by 28,121.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 37,686,978 shares of the real estate investment trust's stock after purchasing an additional 37,553,436 shares during the quarter. American Tower makes up approximately 2.0% of J. Stern & Co. LLP's holdings, making the stock its 14th largest holding. J. Stern & Co. LLP owned 8.05% of American Tower worth $6,616,703,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in AMT. Richards Merrill & Peterson Inc. purchased a new stake in American Tower during the 4th quarter worth about $25,000. Oakworth Capital Inc. grew its holdings in American Tower by 90.7% in the 4th quarter. Oakworth Capital Inc. now owns 143 shares of the real estate investment trust's stock valued at $25,000 after buying an additional 68 shares during the period. Swiss RE Ltd. purchased a new stake in American Tower in the 4th quarter valued at about $25,000. Holos Integrated Wealth LLC purchased a new stake in American Tower in the 4th quarter valued at about $27,000. Finally, Triumph Capital Management purchased a new stake in American Tower in the 3rd quarter valued at about $29,000. Hedge funds and other institutional investors own 92.69% of the company's stock.

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 Upgrades and Downgrades

AMT has been the subject of several recent analyst reports. Jefferies Financial Group lifted 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. Sanford C. Bernstein upgraded American Tower from a "market perform" rating to an "outperform" rating and set a $207.00 price target for the company in a report on Tuesday, May 19th. Mizuho upgraded American Tower from a "neutral" rating to an "outperform" rating and lifted their price target for the company from $189.00 to $205.00 in a report on Wednesday, April 15th. Morgan Stanley lowered their price target on American Tower from $225.00 to $220.00 and set an "overweight" rating for the company in a report on Wednesday, February 25th. Finally, UBS Group lowered 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. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and five have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $216.20.

American Tower Stock Down 0.7%

Shares of NYSE:AMT opened at $184.39 on Wednesday. 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 Corporation has a 1 year low of $165.08 and a 1 year high of $234.33. The stock has a market capitalization of $85.90 billion, a P/E ratio of 29.79, a PEG ratio of 0.78 and a beta of 0.90. The stock has a 50-day simple moving average of $181.47 and a 200-day simple moving average of $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, topping 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 company's revenue for the quarter was up 6.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.75 EPS. American Tower has set its FY 2026 guidance at 10.900-11.07 EPS. Equities analysts forecast that American Tower Corporation will post 10.67 earnings per share for the current year.

American Tower Dividend Announcement

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

Insider Buying and Selling

In related news, EVP Ruth T. Dowling sold 556 shares of the business's stock in a transaction that occurred on Tuesday, April 28th. The stock was sold at an average price of $178.48, for a total transaction of $99,234.88. Following the transaction, the executive vice president directly owned 29,877 shares of the company's stock, valued at approximately $5,332,446.96. The trade was a 1.83% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.08% of the company's stock.

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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