Praxis Investment Management Inc. Purchases 3,850 Shares of American Tower Corporation $AMT

Praxis Investment Management Inc. boosted its position in shares of American Tower Corporation (NYSE:AMT) by 56.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 10,671 shares of the real estate investment trust’s stock after purchasing an additional 3,850 shares during the period. Praxis Investment Management Inc.’s holdings in American Tower were worth $1,842,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Riverwater Partners LLC increased its stake in American Tower by 3.8% in the 4th quarter. Riverwater Partners LLC now owns 1,536 shares of the real estate investment trust’s stock worth $270,000 after buying an additional 56 shares during the period. Triumph Capital Management raised its stake in American Tower by 37.3% in the fourth quarter. Triumph Capital Management now owns 206 shares of the real estate investment trust’s stock worth $36,000 after buying an additional 56 shares in the last quarter. Personal CFO Solutions LLC lifted its stake in shares of American Tower by 3.5% during the 4th quarter. Personal CFO Solutions LLC now owns 1,667 shares of the real estate investment trust’s stock worth $293,000 after purchasing an additional 57 shares during the last quarter. Twin City Private Wealth LLC lifted its position in shares of American Tower by 0.7% during the fourth quarter. Twin City Private Wealth LLC now owns 7,799 shares of the real estate investment trust’s stock valued at $1,382,000 after buying an additional 58 shares during the last quarter. Finally, Asset Advisory Group Inc. lifted its position in American Tower by 3.0% during the first quarter. Asset Advisory Group Inc. now owns 2,072 shares of the real estate investment trust’s stock valued at $358,000 after acquiring an additional 60 shares during the last quarter. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Insider Activity at American Tower

In related news, EVP Ruth T. Dowling sold 416 shares of the company’s stock in a transaction dated 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 transaction, the executive vice president owned 29,461 shares in the company, valued at $5,230,505.94. This represents a 1.39% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, 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 owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts have commented on AMT shares. JPMorgan Chase & Co. lowered their price target on American Tower from $245.00 to $240.00 and set an “overweight” rating for the company in a research report on Wednesday, April 29th. Jefferies Financial Group raised their price target on shares of American Tower from $209.00 to $210.00 and gave the company a “buy” rating in a research report on Tuesday, April 14th. Barclays cut their price objective on shares of American Tower from $200.00 to $195.00 and set an “equal weight” rating for the company in a report on Thursday, April 16th. Raymond James Financial reissued a “strong-buy” rating and set a $240.00 target price on shares of American Tower in a research note on Wednesday, April 29th. Finally, Citizens Jmp restated a “market outperform” rating and set a $260.00 target price on shares of American Tower in a research report on Wednesday, April 29th. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $216.95.

American Tower Trading Down 0.1%

Shares of AMT stock opened at $165.84 on Friday. American Tower Corporation has a 1-year low of $162.27 and a 1-year high of $234.33. The company has a market cap of $77.27 billion, a price-to-earnings ratio of 26.79, a PEG ratio of 0.69 and a beta of 0.91. The company has a debt-to-equity ratio of 3.07, a current ratio of 0.43 and a quick ratio of 0.43. The stock has a 50 day simple moving average of $179.93 and a 200-day simple moving average of $179.30.

American Tower (NYSE:AMT) 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 firm had revenue of $2.74 billion for the quarter, compared to analysts’ expectations of $2.66 billion. American Tower had a net margin of 26.81% and a return on equity of 27.79%. The firm’s revenue for the quarter was up 6.8% compared to the same quarter last year. During the same quarter last year, the company earned $2.75 EPS. American Tower has set its FY 2026 guidance at 10.900-11.07 EPS. On average, equities research analysts expect that American Tower Corporation will post 10.66 EPS for the current fiscal year.

American Tower Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 13th. Stockholders of record on Friday, June 12th will be given a $1.79 dividend. The ex-dividend date is Friday, June 12th. This represents a $7.16 annualized dividend and a dividend yield of 4.3%. American Tower’s dividend payout ratio (DPR) is 115.67%.

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.