4,219 American Tower Corporation $AMT Shares Bought by RWC Asset Management LLP

RWC Asset Management LLP boosted its position in shares of American Tower Corporation (NYSE:AMT) by 2.1% in the third quarter, HoldingsChannel reports. The institutional investor owned 202,025 shares of the real estate investment trust’s stock after acquiring an additional 4,219 shares during the quarter. American Tower makes up approximately 1.2% of RWC Asset Management LLP’s holdings, making the stock its 19th biggest holding. RWC Asset Management LLP’s holdings in American Tower were worth $33,069,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in AMT. Dynamic Wealth Strategies LLC increased its position in shares of American Tower by 11.1% in the third quarter. Dynamic Wealth Strategies LLC now owns 549 shares of the real estate investment trust’s stock valued at $90,000 after acquiring an additional 55 shares during the period. Pinnacle Bancorp Inc. boosted its holdings in shares of American Tower by 1.3% during the third quarter. Pinnacle Bancorp Inc. now owns 4,491 shares of the real estate investment trust’s stock worth $736,000 after purchasing an additional 59 shares during the period. William Allan Corp boosted its holdings in shares of American Tower by 4.7% during the third quarter. William Allan Corp now owns 1,391 shares of the real estate investment trust’s stock worth $228,000 after purchasing an additional 62 shares during the period. Community Financial Services Group LLC boosted its holdings in shares of American Tower by 1.2% during the second quarter. Community Financial Services Group LLC now owns 5,388 shares of the real estate investment trust’s stock worth $895,000 after purchasing an additional 65 shares during the period. Finally, Sunburst Financial Group LLC grew its stake in shares of American Tower by 3.5% in the second quarter. Sunburst Financial Group LLC now owns 1,933 shares of the real estate investment trust’s stock worth $316,000 after purchasing an additional 66 shares during the last quarter. Hedge funds and other institutional investors own 92.69% of the company’s stock.

American Tower News Summary

Here are the key news stories impacting American Tower this week:

• Positive Sentiment: Reports that SpaceX may pursue approximately 80,000 cell sites to support a nationwide wireless service boosted the outlook for tower operators. American Tower could benefit from new tenants, higher site utilization and incremental recurring rental revenue. SpaceX Talks Send Cell Tower Stocks Surging
• Positive Sentiment: Investors are also citing strong data-center leasing momentum at American Tower’s CoreSite business, adding a second growth catalyst alongside 5G deployments and traditional tower leasing. American Tower climbs as data-center leasing hits fresh records
• Positive Sentiment: Before its upcoming third-quarter report, analysts expect revenue and adjusted funds from operations to benefit from 5G activity, leasing demand and data-center growth. The company’s prior quarter exceeded earnings expectations and revenue increased year over year.
• Neutral Sentiment: Director Teresa Hillary Clarke disclosed several small purchases of American Tower shares, including a recent purchase at approximately $183 per share. The buying provides a modest confidence signal, but the transactions are small relative to the company’s market value and several disclosed trades are older.
• Negative Sentiment: Valuation concerns remain: an analyst recently reduced the price target, while commentary suggested American Tower’s former valuation discount has largely disappeared. This could limit further gains if quarterly results or guidance fail to exceed expectations. American Tower price target cut by Sanford C. Bernstein

American Tower Trading Up 4.2%

Shares of NYSE:AMT traded up $7.68 on Friday, hitting $189.25. The company had a trading volume of 8,851,762 shares, compared to its average volume of 3,208,784. The firm’s 50-day simple moving average is $174.69 and its two-hundred day simple moving average is $175.73. American Tower Corporation has a 1 year low of $160.06 and a 1 year high of $202.50. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 3.12. The firm has a market capitalization of $88.18 billion, a price-to-earnings ratio of 26.03, a P/E/G ratio of 2.92 and a beta of 0.88.

American Tower (NYSE:AMT) last announced its earnings results on Tuesday, July 28th. The real estate investment trust reported $2.71 earnings per share for the quarter, beating analysts’ consensus estimates of $1.57 by $1.14. American Tower had a net margin of 31.08% and a return on equity of 32.76%. The firm had revenue of $2.75 billion for the quarter, compared to analyst estimates of $2.70 billion. During the same quarter in the previous year, the firm posted $2.60 EPS. The company’s revenue for the quarter was up 4.6% compared to the same quarter last year. American Tower has set its FY 2026 guidance at 11.000-11.170 EPS. Equities analysts anticipate that American Tower Corporation will post 10.80 earnings per share for the current fiscal year.

American Tower Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 20th. Shareholders of record on Wednesday, September 30th were issued a $1.79 dividend. The ex-dividend date was Wednesday, September 30th. This represents a $7.16 annualized dividend and a yield of 3.8%. American Tower’s dividend payout ratio (DPR) is 98.49%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Jefferies Financial Group reduced their price target on American Tower from $210.00 to $201.00 and set a “buy” rating on the stock in a report on Wednesday, July 15th. BMO Capital Markets upped their price target on American Tower from $190.00 to $195.00 and gave the company a “market perform” rating in a research report on Wednesday, July 29th. Scotiabank reiterated an “outperform” rating on shares of American Tower in a report on Wednesday, July 29th. Truist Financial reiterated a “buy” rating and issued a $207.00 price objective (down from $208.00) on shares of American Tower in a research report on Wednesday, August 12th. Finally, Barclays boosted their target price on American Tower from $198.00 to $199.00 and gave the company an “overweight” rating in a research note on Wednesday, September 30th. One research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, American Tower currently has an average rating of “Moderate Buy” and a consensus target price of $214.90.

Insider Buying and Selling at American Tower

In other American Tower news, EVP Ruth Dowling sold 1,106 shares of American Tower stock in a transaction that occurred on Wednesday, July 29th. The stock was sold at an average price of $174.96, for a total transaction of $193,505.76. Following the sale, the executive vice president directly 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 position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Robert Joseph Meyer sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 29th. The stock was sold at an average price of $178.89, for a total value of $894,450.00. Following the transaction, the chief financial officer owned 21,428 shares in the company, valued at $3,833,254.92. This trade represents a 18.92% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 6,791 shares of company stock valued at $1,204,091. 0.08% of the stock is currently owned by corporate insiders.

American Tower Profile

American Tower Corporation (NYSE:AMT) is a real estate investment trust that owns, operates and develops wireless communications infrastructure. Its portfolio primarily includes communications towers, rooftop sites, distributed antenna systems and other infrastructure used by wireless carriers, broadcasters, governments and businesses to support voice, data and video communications.

The company leases space on its sites to multiple customers, allowing them to install antennas and related equipment without building and maintaining individual tower locations.