Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in American Tower Corporation (NYSE:AMT - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 1,138,035 shares of the real estate investment trust's stock, valued at approximately $186,148,000. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.24% of American Tower at the end of the most recent quarter.
A number of other hedge funds also recently made changes to their positions in the business. Brighton Jones LLC boosted its position in American Tower by 113.0% during the 4th quarter. Brighton Jones LLC now owns 3,966 shares of the real estate investment trust's stock worth $727,000 after acquiring an additional 2,104 shares during the period. Sivia Capital Partners LLC increased its holdings in shares of American Tower by 34.3% during the second quarter. Sivia Capital Partners LLC now owns 1,442 shares of the real estate investment trust's stock valued at $319,000 after purchasing an additional 368 shares during the period. United Bank increased its holdings in shares of American Tower by 12.7% during the second quarter. United Bank now owns 6,488 shares of the real estate investment trust's stock valued at $1,434,000 after purchasing an additional 733 shares during the period. Treasurer of the State of North Carolina raised its stake in shares of American Tower by 2.2% during the second quarter. Treasurer of the State of North Carolina now owns 218,511 shares of the real estate investment trust's stock valued at $48,295,000 after purchasing an additional 4,778 shares in the last quarter. Finally, Ieq Capital LLC raised its stake in shares of American Tower by 52.2% during the second quarter. Ieq Capital LLC now owns 34,248 shares of the real estate investment trust's stock valued at $7,570,000 after purchasing an additional 11,751 shares in the last quarter. Institutional investors own 92.69% of the company's stock.
American Tower Price Performance
NYSE AMT opened at $172.12 on Tuesday. American Tower Corporation has a 1 year low of $160.06 and a 1 year high of $214.79. The business's fifty day moving average is $172.48 and its two-hundred day moving average is $177.87. The stock has a market capitalization of $80.20 billion, a P/E ratio of 23.68, a P/E/G ratio of 2.79 and a beta of 0.90. The company has a debt-to-equity ratio of 3.12, a quick ratio of 0.52 and a current ratio of 0.52.
American Tower (NYSE:AMT - Get Free Report) last released its quarterly earnings data on Tuesday, July 28th. The real estate investment trust reported $2.71 earnings per share for the quarter, topping the consensus estimate of $1.57 by $1.14. The business had revenue of $2.75 billion during the quarter, compared to analyst estimates of $2.70 billion. American Tower had a return on equity of 32.76% and a net margin of 31.08%.The company's revenue was up 4.6% compared to the same quarter last year. During the same period last year, the company posted $2.60 EPS. American Tower has set its FY 2026 guidance at 11.000-11.170 EPS. On average, research analysts forecast that American Tower Corporation will post 10.78 earnings per share for the current fiscal year.
American Tower Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Monday, July 13th. Stockholders of record on Friday, June 12th were issued a dividend of $1.79 per share. This represents a $7.16 annualized dividend and a dividend yield of 4.2%. The ex-dividend date of this dividend was Friday, June 12th. American Tower's dividend payout ratio is currently 98.49%.
Wall Street Analysts Forecast Growth
A number of equities analysts recently issued reports on AMT shares. JPMorgan Chase & Co. decreased their target price 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. Raymond James Financial reaffirmed a "strong-buy" rating and issued a $240.00 price target on shares of American Tower in a research note on Wednesday, April 29th. Scotiabank reiterated an "outperform" rating on shares of American Tower in a report on Wednesday, July 29th. Royal Bank Of Canada upgraded shares of 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. Finally, The Goldman Sachs Group set a $210.00 target price on American Tower in a research report on Tuesday, July 28th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $215.14.
Get Our Latest Stock Report on AMT
Insiders Place Their Bets
In other American Tower news, CFO Robert Joseph Meyer sold 5,000 shares of the company's stock in a transaction dated Wednesday, July 29th. The shares were sold at an average price of $178.89, for a total transaction of $894,450.00. Following the completion of the sale, the chief financial officer directly owned 21,428 shares of the company's stock, valued at approximately $3,833,254.92. This represents a 18.92% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Ruth T. Dowling sold 1,106 shares of the firm's stock in a transaction dated Wednesday, July 29th. The stock was sold at an average price of $174.96, for a total transaction of $193,505.76. Following the completion of the transaction, the executive vice president owned 27,711 shares of the company's stock, valued at approximately $4,848,316.56. The trade was a 3.84% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 6,791 shares of company stock valued at $1,204,091 in the last quarter. 0.08% of the stock is currently owned by corporate insiders.
About American Tower
(
Free Report)
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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