KBC Group NV Purchases 29,631 Shares of American Tower Corporation $AMT

Key Points

• KBC Group NV increased its stake in American Tower by 12.9% in the first quarter, buying 29,631 additional shares and bringing its total holdings to 260,181 shares valued at about $44.9 million.
• American Tower beat quarterly expectations with EPS of $2.84 versus the $1.60 estimate and revenue of $2.74 billion, up 6.8% year over year.
• Wall Street remains constructive on AMT, with a consensus rating of “Moderate Buy” and an average price target of $215.57, while the company also pays a quarterly dividend of $1.79 per share for a 4.3% yield.

KBC Group NV boosted its position in American Tower Corporation (NYSE:AMT - Free Report) by 12.9% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 260,181 shares of the real estate investment trust's stock after buying an additional 29,631 shares during the quarter. KBC Group NV owned approximately 0.06% of American Tower worth $44,902,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of the company. J. Stern & Co. LLP raised its holdings 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 purchasing an additional 37,553,436 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its holdings in 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 worth $1,705,254,000 after purchasing an additional 9,666,025 shares during the last quarter. Norges Bank bought a new position in American Tower in the fourth quarter valued at $1,171,180,000. Lazard Asset Management LLC increased its stake in American Tower by 1,984.8% in the 3rd quarter. Lazard Asset Management LLC now owns 4,464,382 shares of the real estate investment trust's stock valued at $858,552,000 after buying an additional 4,250,242 shares during the last quarter. Finally, Capital International Investors increased its stake in American Tower by 157.0% in the 4th quarter. Capital International Investors now owns 3,871,368 shares of the real estate investment trust's stock valued at $679,696,000 after buying an additional 2,364,898 shares during the last quarter. Institutional investors own 92.69% of the company's stock.

American Tower Stock Performance

NYSE AMT opened at $167.00 on Tuesday. The firm has a market capitalization of $77.80 billion, a P/E ratio of 26.98, a price-to-earnings-growth ratio of 0.71 and a beta of 0.91. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 3.07. The firm's fifty day moving average price is $177.43 and its two-hundred day moving average price is $178.65. American Tower Corporation has a 1 year low of $160.06 and a 1 year high of $234.33.

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

American Tower Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, July 13th. Investors of record on Friday, June 12th were issued a dividend of $1.79 per share. The ex-dividend date was Friday, June 12th. This represents a $7.16 dividend on an annualized basis and a yield of 4.3%. American Tower's dividend payout ratio (DPR) is presently 115.67%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on AMT shares. Scotiabank increased their price objective on shares of American Tower from $214.00 to $218.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 29th. Weiss Ratings raised American Tower from a "hold (c-)" rating to a "hold (c)" rating in a research report on Tuesday, July 14th. Royal Bank Of Canada upgraded American Tower from a "sector perform" rating to an "outperform" rating and upped their target price for the stock from $195.00 to $205.00 in a report on Friday, June 26th. Jefferies Financial Group increased their price target on American Tower from $209.00 to $210.00 and gave the company a "buy" rating in a research report on Tuesday, April 14th. Finally, Mizuho upgraded American Tower from a "neutral" rating to an "outperform" rating and raised their price target for the company from $189.00 to $205.00 in a research note on Wednesday, April 15th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $215.57.

Insider Buying and Selling

In other American Tower 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 owned 29,877 shares of the company's stock, valued at $5,332,446.96. The trade was a 1.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.08% of the company's stock.

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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