American Tower Corporation $AMT is Magellan Asset Management Ltd’s 7th Largest Position

Magellan Asset Management Ltd lifted its holdings in shares of American Tower Corporation (NYSE:AMT) by 40.3% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 1,503,296 shares of the real estate investment trust’s stock after purchasing an additional 431,517 shares during the period. American Tower comprises about 3.4% of Magellan Asset Management Ltd’s investment portfolio, making the stock its 7th biggest position. Magellan Asset Management Ltd owned 0.32% of American Tower worth $259,439,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Richards Merrill & Peterson Inc. bought a new position in shares of American Tower during the fourth quarter valued at about $25,000. Oakworth Capital Inc. lifted its stake in shares of American Tower by 90.7% in the 4th quarter. Oakworth Capital Inc. now owns 143 shares of the real estate investment trust’s stock valued at $25,000 after acquiring an additional 68 shares during the last quarter. Swiss RE Ltd. purchased a new stake in American Tower during the 4th quarter valued at about $25,000. Triumph Capital Management purchased a new stake in American Tower during the 3rd quarter valued at about $29,000. Finally, Acumen Wealth Advisors LLC bought a new position in American Tower during the 4th quarter worth approximately $29,000. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Insider Transactions at American Tower

In other American Tower news, EVP Ruth T. Dowling sold 556 shares of the company’s stock in a transaction on Tuesday, April 28th. The shares were sold at an average price of $178.48, for a total value of $99,234.88. Following the completion of the transaction, the executive vice president directly owned 29,877 shares in the company, valued at approximately $5,332,446.96. This represents a 1.83% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.08% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Barclays lowered their price objective on American Tower from $200.00 to $195.00 and set an “equal weight” rating for the company in a research report on Thursday, April 16th. Jefferies Financial Group raised their target price on shares of American Tower from $209.00 to $210.00 and gave the stock a “buy” rating in a report on Tuesday, April 14th. Weiss Ratings raised shares of American Tower from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, July 14th. Citizens Jmp reiterated a “market outperform” rating and set a $260.00 price target on shares of American Tower in a report on Wednesday, April 29th. Finally, JPMorgan Chase & Co. dropped their price target 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. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $215.57.

American Tower Trading Down 2.3%

AMT opened at $163.19 on Wednesday. American Tower Corporation has a one year low of $160.06 and a one 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. The business has a 50 day simple moving average of $177.12 and a two-hundred day simple moving average of $178.57. The firm has a market capitalization of $76.03 billion, a price-to-earnings ratio of 26.36, a PEG ratio of 0.70 and a beta of 0.91.

American Tower (NYSE:AMT) last issued its quarterly earnings data on Tuesday, April 28th. The real estate investment trust reported $2.84 earnings per share for the quarter, topping analysts’ consensus estimates of $1.60 by $1.24. The firm had revenue of $2.74 billion for the quarter, compared to analyst estimates of $2.66 billion. American Tower had a return on equity of 27.79% and a net margin of 26.81%.The business’s quarterly revenue was up 6.8% compared to the same quarter last year. During the same period last year, the company earned $2.75 EPS. American Tower has set its FY 2026 guidance at 10.900-11.07 EPS. Analysts predict that American Tower Corporation will post 10.66 EPS for the current year.

American Tower Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 13th. Shareholders of record on Friday, June 12th were given a dividend of $1.79 per share. This represents a $7.16 dividend on an annualized basis and a yield of 4.4%. The ex-dividend date of this dividend was Friday, June 12th. American Tower’s payout ratio is presently 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.