Korea Investment CORP Grows Holdings in American Tower Corporation $AMT

Key Points

• Korea Investment CORP boosted its stake in American Tower by 51.7% in Q3 to 558,099 shares (about $107.3 million), representing roughly 0.12% of the company.
• American Tower raised its quarterly dividend to $1.79 (a 5.3% increase), implying a $7.16 annualized payout and a yield of about 3.8%.
• The firm missed quarterly EPS ($1.75 vs. $2.54 estimate) despite 7.5% revenue growth, and the quarter included notable insider selling—COO Eugene Noel sold 41,209 shares (~$7.9M) and major shareholder Tower Corp sold 2.29M shares—while analysts remain mixed with a consensus price target near $217.35.

Korea Investment CORP lifted its stake in shares of American Tower Corporation (NYSE:AMT - Free Report) by 51.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 558,099 shares of the real estate investment trust's stock after buying an additional 190,171 shares during the quarter. Korea Investment CORP owned approximately 0.12% of American Tower worth $107,334,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Mirae Asset Global Investments Co. Ltd. boosted its holdings in American Tower by 8.9% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 96,793 shares of the real estate investment trust's stock worth $18,615,000 after purchasing an additional 7,872 shares during the period. Eastern Bank lifted its position in shares of American Tower by 69.6% in the 3rd quarter. Eastern Bank now owns 139,091 shares of the real estate investment trust's stock worth $26,750,000 after buying an additional 57,078 shares during the last quarter. Machina Capital S.A.S. bought a new position in shares of American Tower in the 3rd quarter worth about $2,871,000. Krilogy Financial LLC acquired a new position in shares of American Tower in the 3rd quarter valued at about $1,044,000. Finally, Commerzbank Aktiengesellschaft FI grew its position in shares of American Tower by 92.4% during the 3rd quarter. Commerzbank Aktiengesellschaft FI now owns 61,397 shares of the real estate investment trust's stock valued at $11,808,000 after buying an additional 29,486 shares during the last quarter. Institutional investors own 92.69% of the company's stock.

Trending Headlines about American Tower

Here are the key news stories impacting American Tower this week:

• Positive Sentiment: Board raised the quarterly cash distribution to $1.79/share (5.3% increase versus prior quarter), payable April 28; the raise supports the stock’s income appeal and pushes the yield to roughly 3.8%. Read More.
• Neutral Sentiment: Sanford C. Bernstein initiated coverage with a Market Perform rating and $205 price target (~8.5% above current levels) — a modest positive signal but not a bullish endorsement. Read More.
• Neutral Sentiment: RBC Capital issued a Hold (sector perform) on AMT, signaling limited near‑term upside from their perspective and contributing to mixed analyst sentiment. Read More.
• Neutral Sentiment: Recent press pieces (e.g., “Balances 2025 Strength With 2026 Reset”) and assorted analyst target trims reflect a view that 2025 performance was solid but 2026 requires a reset — this keeps the story mixed for growth vs. valuation. Read More.
• Negative Sentiment: COO Eugene M. Noel sold 41,209 shares (≈$7.9M at the sale price), cutting his stake by ~58% — a sizable insider sale that can be perceived negatively by investors even if for personal/liquidity reasons. Read More.

American Tower Price Performance

NYSE AMT opened at $188.87 on Friday. The company has a 50-day moving average price of $180.60 and a two-hundred day moving average price of $185.00. American Tower Corporation has a 52 week low of $166.88 and a 52 week high of $234.33. The stock has a market cap of $88.03 billion, a price-to-earnings ratio of 35.04, a price-to-earnings-growth ratio of 0.79 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 released its quarterly earnings results on Tuesday, February 24th. The real estate investment trust reported $1.75 earnings per share for the quarter, missing analysts' consensus estimates of $2.54 by ($0.79). American Tower had a net margin of 23.76% and a return on equity of 24.36%. The business had revenue of $2.74 billion for the quarter, compared to the consensus estimate of $2.69 billion. During the same period last year, the firm posted $2.62 EPS. The business's quarterly revenue was up 7.5% on a year-over-year basis. American Tower has set its FY 2026 guidance at 10.780-10.950 EPS. Analysts forecast that American Tower Corporation will post 10.14 EPS for the current year.

American Tower Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 28th. Shareholders of record on Tuesday, April 14th will be given a dividend of $1.79 per share. This is a boost from American Tower's previous quarterly dividend of $1.70. The ex-dividend date is Tuesday, April 14th. This represents a $7.16 dividend on an annualized basis and a yield of 3.8%. American Tower's payout ratio is presently 126.16%.

Wall Street Analyst Weigh In

AMT has been the topic of a number of recent research reports. Scotiabank cut their target price on shares of American Tower from $220.00 to $214.00 and set a "sector outperform" rating on the stock in a report on Wednesday, February 25th. Morgan Stanley lowered their target price on American Tower from $225.00 to $220.00 and set an "overweight" rating for the company in a report on Wednesday, February 25th. Sanford C. Bernstein started coverage on American Tower in a research report on Thursday. They set a "market perform" rating and a $205.00 price target on the stock. Raymond James Financial cut their price target on American Tower from $231.00 to $229.00 and set a "strong-buy" rating on the stock in a report on Friday, January 23rd. Finally, Weiss Ratings restated a "hold (c)" rating on shares of American Tower in a research note on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $217.35.

Insider Buying and Selling at American Tower

In related news, COO Eugene M. Noel sold 41,209 shares of the company's stock in a transaction dated 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 completion of the sale, the chief operating officer owned 29,592 shares of the company's stock, valued at $5,653,551.60. This represents a 58.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, major shareholder Tower Corp /Ma/ American sold 2,288,621 shares of the stock in a transaction dated Tuesday, December 9th. The shares were sold at an average price of $69.75, for a total transaction of $159,631,314.75. Following the completion of the transaction, the insider owned 211,379 shares of the company's stock, valued at $14,743,685.25. This represents a 91.54% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.17% 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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