Milford Funds Ltd. Acquires Shares of 658,277 American Tower Corporation $AMT

Milford Funds Ltd. acquired a new stake in shares of American Tower Corporation (NYSE:AMT) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 658,277 shares of the real estate investment trust’s stock, valued at approximately $115,574,000. American Tower comprises 2.3% of Milford Funds Ltd.’s investment portfolio, making the stock its 13th biggest holding.

Other institutional investors have also bought and sold shares of the company. Krilogy Financial LLC bought a new stake in shares of American Tower in the 3rd quarter worth about $1,044,000. Vanguard Group Inc. lifted its holdings in shares of American Tower by 1.0% in the 3rd quarter. Vanguard Group Inc. now owns 63,640,168 shares of the real estate investment trust’s stock worth $12,239,277,000 after acquiring an additional 611,801 shares during the last quarter. CIBC Bancorp USA Inc. bought a new stake in shares of American Tower in the 3rd quarter worth about $35,633,000. Nordea Investment Management AB lifted its holdings in shares of American Tower by 10.4% in the 4th quarter. Nordea Investment Management AB now owns 1,743,321 shares of the real estate investment trust’s stock worth $306,284,000 after acquiring an additional 164,645 shares during the last quarter. Finally, Rathbones Group PLC lifted its holdings in shares of American Tower by 14.9% in the 4th quarter. Rathbones Group PLC now owns 474,216 shares of the real estate investment trust’s stock worth $83,258,000 after acquiring an additional 61,428 shares during the last quarter. Institutional investors own 92.69% of the company’s stock.

American Tower Stock Down 1.1%

Shares of American Tower stock opened at $187.20 on Friday. The firm’s 50 day moving average price is $181.01 and its 200-day moving average price is $179.92. 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. The company has a market cap of $87.22 billion, a P/E ratio of 30.24, a PEG ratio of 0.79 and a beta of 0.90.

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 (EPS) for the quarter, topping analysts’ consensus estimates of $1.60 by $1.24. American Tower had a net margin of 26.81% and a return on equity of 27.79%. The firm had revenue of $2.74 billion for the quarter, compared to the consensus estimate of $2.66 billion. During the same quarter in the previous year, the firm earned $2.75 EPS. The company’s quarterly revenue 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 EPS for the current fiscal year.

American Tower Dividend Announcement

The company also recently disclosed 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 of this dividend is Friday, June 12th. This represents a $7.16 dividend on an annualized basis and a dividend yield of 3.8%. American Tower’s payout ratio is presently 115.67%.

Insider Activity

In other news, EVP Ruth T. Dowling sold 556 shares of American Tower stock in a transaction that occurred 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 transaction, the executive vice president owned 29,877 shares of the company’s stock, valued at $5,332,446.96. The trade was a 1.83% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.08% of the stock is currently owned by insiders.

Analysts Set New Price Targets

AMT has been the subject of several analyst reports. Morgan Stanley lowered their target price on shares of American Tower from $225.00 to $220.00 and set an “overweight” rating for the company in a report on Wednesday, February 25th. Barclays reduced their price target on shares of American Tower from $200.00 to $195.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 16th. Truist Financial raised their price target on shares of American Tower from $205.00 to $208.00 and gave the stock a “buy” rating in a research note on Thursday, April 30th. Weiss Ratings raised shares of American Tower from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, May 11th. Finally, UBS Group reduced their price target on shares of American Tower from $254.00 to $248.00 and set a “buy” rating on the stock in a research note on Wednesday, February 25th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the stock 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.