Lmcg Investments LLC Has $1.37 Million Stock Position in American Tower Corporation $AMT

Key Points

• Lmcg Investments LLC increased its stake in American Tower by 320.6% in the first quarter, ending with 7,950 shares valued at about $1.37 million.
• American Tower continues to attract heavy institutional interest, with institutions and hedge funds owning about 92.69% of the stock. Several large holders also recently added to positions, while one executive made a small pre-planned sale.
• The company reported strong quarterly results, including EPS of $2.84 versus estimates of $1.60 and revenue of $2.74 billion, and it also declared a $1.79 quarterly dividend yielding about 4.3%.

Lmcg Investments LLC grew its position in American Tower Corporation (NYSE:AMT - Free Report) by 320.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,950 shares of the real estate investment trust's stock after acquiring an additional 6,060 shares during the quarter. Lmcg Investments LLC's holdings in American Tower were worth $1,372,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the company. J. Stern & Co. LLP boosted its position in shares of American Tower by 28,121.1% during the 4th 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 acquiring an additional 37,553,436 shares in the last quarter. State Street Corp raised its position in American Tower by 0.3% in the fourth quarter. State Street Corp now owns 20,987,534 shares of the real estate investment trust's stock worth $3,719,634,000 after purchasing an additional 71,605 shares in the last quarter. Geode Capital Management LLC lifted its stake in 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 worth $2,361,675,000 after purchasing an additional 227,361 shares during the period. Northwestern Mutual Wealth Management Co. lifted its stake 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 period. Finally, Invesco Ltd. boosted its holdings in American Tower by 0.9% during 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 firms recently commented on AMT. Weiss Ratings downgraded American Tower from a "hold (c)" rating to a "hold (c-)" rating in a research report on Monday, June 29th. Wolfe Research upgraded American Tower to an "outperform" rating and set a $188.00 price target on the stock in a research report on Wednesday. Barclays cut their price objective on American Tower from $200.00 to $195.00 and set an "equal weight" rating for the company in a report on Thursday, April 16th. Scotiabank boosted their target price on shares of American Tower from $214.00 to $218.00 and gave the company an "outperform" rating in a research note on Wednesday, April 29th. Finally, Truist Financial upped their target price on shares of American Tower from $205.00 to $208.00 and gave the stock a "buy" rating in a report on Thursday, April 30th. 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 MarketBeat, American Tower has an average rating of "Moderate Buy" and an average target price of $215.57.

Insider Buying and Selling at American Tower

In related news, EVP Ruth T. Dowling sold 416 shares of the business's stock in a transaction that occurred on Wednesday, April 29th. The shares were sold at an average price of $177.54, for a total value of $73,856.64. Following the completion of the transaction, the executive vice president owned 29,461 shares in the company, valued at $5,230,505.94. The trade was a 1.39% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.08% of the stock is currently owned by corporate insiders.

American Tower Price Performance

American Tower stock opened at $165.04 on Thursday. The business's fifty day moving average is $179.12 and its two-hundred day moving average is $179.02. The company has a debt-to-equity ratio of 3.07, a quick ratio of 0.43 and a current ratio of 0.43. The firm has a market cap of $76.89 billion, a P/E ratio of 26.66, a P/E/G ratio of 0.69 and a beta of 0.91. American Tower Corporation has a 52 week low of $160.06 and a 52 week high of $234.33.

American Tower (NYSE:AMT - Get Free Report) last released its quarterly earnings results on Tuesday, April 28th. The real estate investment trust reported $2.84 earnings per share (EPS) 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 business had revenue of $2.74 billion during the quarter, compared to analysts' expectations of $2.66 billion. During the same period in the previous year, the business posted $2.75 earnings per share. The firm's revenue for the quarter 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. Equities research analysts forecast that American Tower Corporation will post 10.66 earnings per share for the current fiscal year.

American Tower Announces Dividend

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 issued a $1.79 dividend. The ex-dividend date of this dividend is Friday, June 12th. This represents a $7.16 dividend on an annualized basis and a dividend yield of 4.3%. American Tower's dividend payout ratio (DPR) is currently 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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