Mirae Asset Global Investments Co. Ltd. Buys 9,022 Shares of American Tower Corporation $AMT

Key Points

• Mirae Asset Global Investments increased its stake in American Tower by 9.3%, buying 9,022 shares to own 105,815 shares worth $18.578 million at quarter-end.
• American Tower reported quarterly EPS of $1.75 versus $2.54 expected (a miss) while revenue rose 7.5% year-over-year, and the company set FY2026 EPS guidance of 10.780–10.950.
• The company raised its quarterly dividend to $1.79 (annualized $7.16, ~3.9% yield), and institutional investors now own 92.69% of the stock with several large funds materially increasing positions.

Mirae Asset Global Investments Co. Ltd. increased its stake in shares of American Tower Corporation (NYSE:AMT - Free Report) by 9.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 105,815 shares of the real estate investment trust's stock after buying an additional 9,022 shares during the quarter. Mirae Asset Global Investments Co. Ltd.'s holdings in American Tower were worth $18,578,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of AMT. Lazard Asset Management LLC grew 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 purchasing an additional 4,250,242 shares during the period. Viking Global Investors LP grew its stake in American Tower by 233.5% in the 2nd quarter. Viking Global Investors LP now owns 2,797,125 shares of the real estate investment trust's stock valued at $618,221,000 after purchasing an additional 1,958,329 shares during the period. Barrow Hanley Mewhinney & Strauss LLC bought a new position in American Tower in the 3rd quarter valued at $305,872,000. Arrowstreet Capital Limited Partnership grew its stake in American Tower by 35.0% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 2,796,007 shares of the real estate investment trust's stock valued at $537,728,000 after purchasing an additional 724,504 shares during the period. Finally, Two Sigma Investments LP grew its stake in American Tower by 733.1% in the 3rd quarter. Two Sigma Investments LP now owns 804,761 shares of the real estate investment trust's stock valued at $154,772,000 after purchasing an additional 708,158 shares during the period. Institutional investors own 92.69% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on AMT. Sanford C. Bernstein began coverage on American Tower in a research note on Thursday, March 5th. They issued a "market perform" rating and a $205.00 price objective for the company. New Street Research upgraded American Tower from a "neutral" rating to a "buy" rating and set a $203.00 price objective for the company in a research note on Monday, January 5th. Raymond James Financial reduced their price objective on American Tower from $231.00 to $229.00 and set a "strong-buy" rating for the company in a research note on Friday, January 23rd. Weiss Ratings restated a "hold (c)" rating on shares of American Tower in a research note on Monday, December 29th. Finally, Royal Bank Of Canada reduced their price objective on American Tower from $220.00 to $195.00 and set a "sector perform" rating for the company in a research note on Monday, January 12th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $217.33.

American Tower Stock Up 2.2%

Shares of NYSE AMT opened at $182.60 on Friday. American Tower Corporation has a one year low of $165.08 and a one year high of $234.33. The company has a debt-to-equity ratio of 3.27, a current ratio of 0.60 and a quick ratio of 0.60. The business's fifty day moving average price is $181.34 and its 200-day moving average price is $180.61. The stock has a market capitalization of $85.11 billion, a PE ratio of 33.88, a P/E/G ratio of 0.75 and a beta of 0.92.

American Tower (NYSE:AMT - Get Free Report) last issued its quarterly earnings results on Tuesday, February 24th. The real estate investment trust reported $1.75 EPS 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 firm had revenue of $2.74 billion for the quarter, compared to analysts' expectations of $2.69 billion. During the same period in the prior year, the company earned $2.62 EPS. The firm'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. On average, equities research analysts anticipate that American Tower Corporation will post 10.14 EPS for the current year.

American Tower Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 28th. Stockholders of record on Tuesday, April 14th will be given a dividend of $1.79 per share. The ex-dividend date of this dividend is Tuesday, April 14th. This represents a $7.16 dividend on an annualized basis and a dividend yield of 3.9%. This is a boost from American Tower's previous quarterly dividend of $1.70. American Tower's payout ratio is currently 132.84%.

Insiders Place Their Bets

In other news, Director Rajesh Kalathur purchased 2,671 shares of the company's stock in a transaction dated Tuesday, March 10th. The shares were purchased at an average price of $185.30 per share, with a total value of $494,936.30. Following the transaction, the director directly owned 4,936 shares of the company's stock, valued at approximately $914,640.80. This represents a 117.92% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Eugene M. Noel sold 41,209 shares of the stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $191.05, for a total value of $7,872,979.45. Following the sale, the chief operating officer directly owned 29,592 shares in the company, valued at $5,653,551.60. This trade represents a 58.20% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.17% of the stock is owned by corporate insiders.

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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