Swiss National Bank Sells 66,400 Shares of American Tower Corporation $AMT

Key Points

• Swiss National Bank reduced its American Tower stake by 4.9% in the fourth quarter, selling 66,400 shares and leaving it with 1,283,100 shares valued at about $225.3 million.
• American Tower reported strong quarterly results, with EPS of $2.84 versus the $1.60 consensus and revenue of $2.74 billion, up 6.8% year over year.
• The company also announced a quarterly dividend of $1.79 per share, implying an annualized payout of $7.16 and a dividend yield of 3.8%, though the payout ratio is high at 115.67%.

Swiss National Bank cut its stake in shares of American Tower Corporation (NYSE:AMT - Free Report) by 4.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,283,100 shares of the real estate investment trust's stock after selling 66,400 shares during the period. Swiss National Bank owned 0.27% of American Tower worth $225,274,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Richards Merrill & Peterson Inc. bought a new stake in American Tower during the fourth quarter valued at $25,000. Oakworth Capital Inc. boosted its stake in American Tower by 90.7% during the fourth quarter. Oakworth Capital Inc. now owns 143 shares of the real estate investment trust's stock valued at $25,000 after buying an additional 68 shares during the period. Holos Integrated Wealth LLC bought a new stake in American Tower during the fourth quarter valued at $27,000. Triumph Capital Management bought a new stake in American Tower during the third quarter valued at $29,000. Finally, Lloyd Advisory Services LLC. bought a new stake in American Tower during the fourth quarter valued at $30,000. 92.69% of the stock is currently owned by institutional investors.

Insider Activity

In other news, EVP Ruth T. Dowling sold 556 shares of the firm's stock in a transaction dated Tuesday, April 28th. The stock was sold at an average price of $178.48, for a total transaction of $99,234.88. Following the transaction, the executive vice president directly owned 29,877 shares of the company's stock, valued at approximately $5,332,446.96. This trade represents a 1.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.08% of the company's stock.

American Tower Stock Performance

NYSE:AMT opened at $189.65 on Friday. The business has a 50 day moving average of $180.69 and a 200 day moving average of $179.87. The company has a market capitalization of $88.35 billion, a price-to-earnings ratio of 30.64, a PEG ratio of 0.80 and a beta of 0.90. American Tower Corporation has a 1-year low of $165.08 and a 1-year high of $234.33. The company has a debt-to-equity ratio of 3.07, a current ratio of 0.43 and a quick ratio of 0.43.

American Tower (NYSE:AMT - Get Free Report) last announced its quarterly earnings data 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 firm had revenue of $2.74 billion for the quarter, compared to analysts' expectations of $2.66 billion. During the same period last year, the firm earned $2.75 earnings per share. The company'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. On average, sell-side analysts predict that American Tower Corporation will post 10.67 earnings per share for the current fiscal year.

American Tower Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 13th. Stockholders of record on Friday, June 12th will be paid a dividend of $1.79 per share. This represents a $7.16 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date of this dividend is Friday, June 12th. American Tower's dividend payout ratio (DPR) is 115.67%.

Analysts Set New Price Targets

AMT has been the subject of several research analyst reports. Raymond James Financial reissued a "strong-buy" rating and set a $240.00 price objective on shares of American Tower in a research note on Wednesday, April 29th. Barclays dropped their price objective on American Tower from $200.00 to $195.00 and set an "equal weight" rating for the company in a research note on Thursday, April 16th. Truist Financial increased their price target 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. Morgan Stanley decreased their price target on shares of American Tower from $225.00 to $220.00 and set an "overweight" rating on the stock in a report on Wednesday, February 25th. Finally, Weiss Ratings raised shares of American Tower from a "hold (c-)" rating to a "hold (c)" rating in a report on Monday, May 11th. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $216.20.

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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