Varma Mutual Pension Insurance Co Buys 14,100 Shares of American Tower Corporation $AMT

Key Points

• Varma Mutual Pension Insurance Co raised its stake in American Tower by 16.1% in Q4, buying 14,100 shares to hold 101,906 shares worth about $17.89 million.
• Quarterly results beat expectations: American Tower reported EPS of $2.84 (vs. $1.60 est.) and revenue of $2.74 billion (vs. $2.66B est.), and set FY2026 guidance of 10.90–11.07 EPS.
• The company increased its quarterly dividend to $1.79 (annualized $7.16, ~4.0% yield), though the payout ratio is elevated at about 115.7%.

Varma Mutual Pension Insurance Co lifted its stake in shares of American Tower Corporation (NYSE:AMT - Free Report) by 16.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 101,906 shares of the real estate investment trust's stock after purchasing an additional 14,100 shares during the quarter. Varma Mutual Pension Insurance Co's holdings in American Tower were worth $17,892,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in AMT. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of American Tower by 8.9% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 96,793 shares of the real estate investment trust's stock worth $18,615,000 after acquiring an additional 7,872 shares during the last quarter. Eastern Bank boosted its position in shares of American Tower by 69.6% during the third quarter. Eastern Bank now owns 139,091 shares of the real estate investment trust's stock worth $26,750,000 after acquiring an additional 57,078 shares during the last quarter. Krilogy Financial LLC bought a new position in shares of American Tower during the third quarter worth $1,044,000. Machina Capital S.A.S. bought a new position in shares of American Tower during the third quarter worth $2,871,000. Finally, Commerzbank Aktiengesellschaft FI boosted its position in shares of American Tower by 92.4% during the third quarter. Commerzbank Aktiengesellschaft FI now owns 61,397 shares of the real estate investment trust's stock worth $11,808,000 after acquiring an additional 29,486 shares during the last quarter. 92.69% of the stock is owned by institutional investors.

Insider Activity

In other news, Director Rajesh Kalathur bought 2,671 shares of American Tower stock in a transaction dated Tuesday, March 10th. The shares were acquired at an average price of $185.30 per share, with a total value of $494,936.30. Following the completion of the purchase, the director owned 4,936 shares in the company, valued at $914,640.80. The trade was a 117.92% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Ruth T. Dowling sold 416 shares of the stock in a transaction on Wednesday, April 29th. The shares were sold at an average price of $177.54, for a total transaction of $73,856.64. Following the completion of the sale, the executive vice president directly owned 29,461 shares in the company, valued at approximately $5,230,505.94. This represents a 1.39% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 42,181 shares of company stock valued at $8,046,071. 0.08% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities analysts recently weighed in on AMT shares. 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 research report on Thursday, April 30th. UBS Group dropped their target price on shares of American Tower from $254.00 to $248.00 and set a "buy" rating for the company in a research report on Wednesday, February 25th. New Street Research upgraded shares of American Tower from a "neutral" rating to a "buy" rating and set a $203.00 target price for the company in a research report on Monday, January 5th. JPMorgan Chase & Co. dropped 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. Finally, Citizens Jmp reaffirmed a "market outperform" rating and set a $260.00 price target on shares of American Tower in a research note on Wednesday, April 29th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, American Tower has an average rating of "Moderate Buy" and a consensus price target of $218.05.

American Tower Price Performance

American Tower stock opened at $180.92 on Tuesday. The company has a market cap of $84.32 billion, a price-to-earnings ratio of 29.23, a PEG ratio of 0.76 and a beta of 0.90. The firm's fifty day moving average is $180.04 and its 200 day moving average is $179.99. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 3.07. American Tower Corporation has a 52-week low of $165.08 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. The company had revenue of $2.74 billion for the quarter, compared to the consensus estimate of $2.66 billion. American Tower had a net margin of 26.81% and a return on equity of 27.79%. American Tower's revenue was up 6.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.75 earnings per share. American Tower has set its FY 2026 guidance at 10.900-11.07 EPS. Sell-side analysts forecast that American Tower Corporation will post 10.67 EPS for the current fiscal year.

American Tower Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 28th. Investors of record on Tuesday, April 14th were paid a dividend of $1.79 per share. The ex-dividend date of this dividend was Tuesday, April 14th. This is a positive change from American Tower's previous quarterly dividend of $1.70. This represents a $7.16 dividend on an annualized basis and a yield of 4.0%. American Tower's payout ratio is currently 115.67%.

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.

Want to see what other hedge funds are holding AMT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for American Tower Corporation (NYSE:AMT - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.