Miller Howard Investments Inc. NY Buys 11,243 Shares of American Tower Corporation $AMT

Miller Howard Investments Inc. NY grew its stake in shares of American Tower Corporation (NYSE:AMT) by 22.4% in the first quarter, Holdings Channel reports. The institutional investor owned 61,337 shares of the real estate investment trust’s stock after purchasing an additional 11,243 shares during the period. Miller Howard Investments Inc. NY’s holdings in American Tower were worth $10,586,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the stock. Richards Merrill & Peterson Inc. acquired a new stake in American Tower during the fourth quarter worth about $25,000. Oakworth Capital Inc. raised its holdings in 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 in the last quarter. Swiss RE Ltd. bought a new stake in shares of American Tower in the 4th quarter worth approximately $25,000. Holos Integrated Wealth LLC bought a new stake in shares of American Tower in the 4th quarter worth approximately $27,000. Finally, Triumph Capital Management acquired a new stake in shares of American Tower during the 3rd quarter worth approximately $29,000. Institutional investors own 92.69% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. UBS Group lowered their price objective on American Tower from $254.00 to $248.00 and set a “buy” rating on the stock in a research report on Wednesday, February 25th. Sanford C. Bernstein upgraded shares of American Tower from a “market perform” rating to an “outperform” rating and set a $207.00 price target on the stock in a research note on Tuesday, May 19th. Mizuho raised shares of American Tower from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $189.00 to $205.00 in a report on Wednesday, April 15th. Morgan Stanley dropped their price objective on shares of American Tower from $225.00 to $220.00 and set an “overweight” rating for the company in a research note on Wednesday, February 25th. Finally, Citizens Jmp reiterated 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 equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, American Tower currently has an average rating of “Moderate Buy” and a consensus target price of $216.20.

Insiders Place Their Bets

In related news, EVP Ruth T. Dowling sold 556 shares of the 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 directly owned 29,877 shares in the company, valued at $5,332,446.96. This represents a 1.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, 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.

American Tower Trading Up 1.6%

AMT stock opened at $179.30 on Wednesday. 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 twelve month low of $165.08 and a twelve month high of $234.33. The company has a market cap of $83.53 billion, a P/E ratio of 28.97, a PEG ratio of 0.74 and a beta of 0.90. The business has a fifty day moving average of $181.52 and a 200-day moving average of $179.96.

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

American Tower Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 13th. Investors of record on Friday, June 12th will be paid a dividend of $1.79 per share. This represents a $7.16 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date of this dividend is Friday, June 12th. American Tower’s payout ratio is 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.