Janney Montgomery Scott LLC Has $61.12 Million Stock Holdings in American Tower Corporation $AMT

Key Points

• Janney Montgomery Scott LLC increased its stake in American Tower by 45.8% in the first quarter, buying 111,196 additional shares and bringing its holdings to 354,150 shares valued at about $61.1 million.
• American Tower reported strong first-quarter earnings, posting $2.84 per share versus analyst expectations of $1.60, while revenue of $2.74 billion also topped estimates and rose 6.8% year over year.
• Analysts remain broadly positive on the stock, with a Moderate Buy consensus and an average target price of $216.95, while the company also announced a quarterly dividend of $1.79 per share, yielding about 4.1% annually.

Janney Montgomery Scott LLC boosted its holdings in shares of American Tower Corporation (NYSE:AMT - Free Report) by 45.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 354,150 shares of the real estate investment trust's stock after purchasing an additional 111,196 shares during the quarter. Janney Montgomery Scott LLC owned about 0.08% of American Tower worth $61,119,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in AMT. J. Stern & Co. LLP lifted its stake in shares of American Tower by 28,121.1% in the fourth quarter. J. Stern & Co. LLP now owns 37,686,978 shares of the real estate investment trust's stock valued at $6,616,703,000 after buying an additional 37,553,436 shares during the period. State Street Corp lifted its position in shares of American Tower by 0.3% in the 4th quarter. State Street Corp now owns 20,987,534 shares of the real estate investment trust's stock worth $3,719,634,000 after acquiring an additional 71,605 shares during the period. Geode Capital Management LLC increased its position in shares of American Tower by 1.7% during the fourth 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 during the period. Northwestern Mutual Wealth Management Co. increased its position in shares of American Tower by 20,721.6% during the fourth 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 during the period. Finally, Invesco Ltd. raised its stake in shares of American Tower by 0.9% in the fourth quarter. Invesco Ltd. now owns 6,948,190 shares of the real estate investment trust's stock valued at $1,219,894,000 after purchasing an additional 59,557 shares in the last quarter. Institutional investors and hedge funds own 92.69% of the company's stock.

Analyst Ratings Changes

Several research analysts recently commented on AMT shares. Mizuho raised American Tower from a "neutral" rating to an "outperform" rating and raised their target price for the stock from $189.00 to $205.00 in a research report on Wednesday, April 15th. Citizens Jmp reaffirmed a "market outperform" rating and set a $260.00 price objective on shares of American Tower in a report on Wednesday, April 29th. The Goldman Sachs Group assumed coverage on shares of American Tower in a research note on Friday. They issued a "buy" rating and a $215.00 target price on the stock. JPMorgan Chase & Co. cut their price target on shares of American Tower from $245.00 to $240.00 and set an "overweight" rating for the company in a research note on Wednesday, April 29th. Finally, Truist Financial lifted their price objective on American Tower from $205.00 to $208.00 and gave the company a "buy" rating in a report on Thursday, April 30th. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $216.95.

Insider Activity

In other news, EVP Ruth T. Dowling sold 556 shares of the 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 sale, the executive vice president directly owned 29,877 shares of the company's stock, valued at $5,332,446.96. This represents a 1.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.08% of the company's stock.

American Tower Trading Down 0.1%

AMT stock opened at $175.41 on Monday. The company has a debt-to-equity ratio of 3.07, a current ratio of 0.43 and a quick ratio of 0.43. The stock has a market capitalization of $81.72 billion, a price-to-earnings ratio of 28.34, a P/E/G ratio of 0.73 and a beta of 0.90. The business has a fifty day moving average price of $181.20 and a 200 day moving average price of $179.81. American Tower Corporation has a fifty-two week low of $165.08 and a fifty-two week high of $234.33.

American Tower (NYSE:AMT - Get Free Report) last announced its earnings results on Tuesday, April 28th. The real estate investment trust reported $2.84 earnings per share for the quarter, beating analysts' consensus estimates of $1.60 by $1.24. American Tower had a return on equity of 27.79% and a net margin of 26.81%.The company had revenue of $2.74 billion during the quarter, compared to analyst estimates of $2.66 billion. During the same period last year, the company posted $2.75 earnings per share. The firm's quarterly revenue was up 6.8% compared to the same quarter last year. American Tower has set its FY 2026 guidance at 10.900-11.07 EPS. Analysts expect that American Tower Corporation will post 10.66 EPS for the current fiscal year.

American Tower Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 13th. Stockholders of record on Friday, June 12th will be given a dividend of $1.79 per share. This represents a $7.16 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date is Friday, June 12th. American Tower's dividend payout ratio is presently 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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