Lasalle Investment Management Securities LLC Has $111.88 Million Holdings in American Tower Corporation $AMT

Key Points

• Lasalle Investment Management Securities LLC increased its American Tower stake by 22.9% in the first quarter, buying 120,641 additional shares. The fund now holds 648,257 shares valued at about $111.9 million.
• Institutional ownership remains very high, with hedge funds and other institutional investors controlling 92.69% of American Tower’s stock. Several other firms also made large additions to their positions during recent quarters.
• Analysts are broadly positive on AMT, with an average rating of “Moderate Buy” and a mean price target of $215.57. The company also recently beat earnings estimates, reported revenue growth, and pays a quarterly dividend yielding about 4.3%.

Lasalle Investment Management Securities LLC grew its position in shares of American Tower Corporation (NYSE:AMT - Free Report) by 22.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 648,257 shares of the real estate investment trust's stock after purchasing an additional 120,641 shares during the quarter. American Tower makes up about 4.4% of Lasalle Investment Management Securities LLC's investment portfolio, making the stock its 5th largest position. Lasalle Investment Management Securities LLC owned 0.14% of American Tower worth $111,876,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of AMT. J. Stern & Co. LLP lifted its position in American Tower by 28,121.1% in the 4th quarter. J. Stern & Co. LLP now owns 37,686,978 shares of the real estate investment trust's stock worth $6,616,703,000 after buying an additional 37,553,436 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its position 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 valued at $1,705,254,000 after acquiring an additional 9,666,025 shares during the last quarter. Norges Bank bought a new position in American Tower during the fourth quarter valued at approximately $1,171,180,000. Lazard Asset Management LLC raised its stake in shares of American Tower by 1,984.8% during the third quarter. Lazard Asset Management LLC now owns 4,464,382 shares of the real estate investment trust's stock worth $858,552,000 after acquiring an additional 4,250,242 shares in the last quarter. Finally, Capital International Investors raised its stake in shares of American Tower by 157.0% during the fourth quarter. Capital International Investors now owns 3,871,368 shares of the real estate investment trust's stock worth $679,696,000 after acquiring an additional 2,364,898 shares in the last quarter. 92.69% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on AMT. Jefferies Financial Group upped their price objective on shares of American Tower from $209.00 to $210.00 and gave the company a "buy" rating in a research note on Tuesday, April 14th. Wolfe Research upgraded shares of American Tower from a "peer perform" rating to an "outperform" rating and set a $188.00 target price on the stock in a research report on Wednesday, July 8th. Citizens Jmp reissued a "market outperform" rating and issued a $260.00 price target on shares of American Tower in a research note on Wednesday, April 29th. 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 report on Wednesday, April 29th. Finally, Royal Bank Of Canada raised American Tower from a "sector perform" rating to an "outperform" rating and raised their price objective for the company from $195.00 to $205.00 in a research note on Friday, June 26th. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $215.57.

American Tower Stock Performance

NYSE:AMT opened at $166.24 on Thursday. 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 fifty-two week low of $160.06 and a fifty-two week high of $234.33. The firm has a market cap of $77.45 billion, a PE ratio of 26.86, a price-to-earnings-growth ratio of 0.68 and a beta of 0.91. The business has a 50 day moving average price of $176.97 and a 200-day moving average price of $178.50.

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

American Tower Announces Dividend

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

Insider Activity

In other news, EVP Ruth T. Dowling sold 556 shares of the company's stock in a transaction dated Tuesday, April 28th. The shares were sold at an average price of $178.48, for a total transaction of $99,234.88. Following the completion of the transaction, the executive vice president directly owned 29,877 shares of the company's stock, valued at approximately $5,332,446.96. This represents a 1.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible 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 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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