Lowe Brockenbrough & Co. Inc. Has $8.52 Million Stake in American Tower Corporation $AMT

Lowe Brockenbrough & Co. Inc. raised its stake in shares of American Tower Corporation (NYSE:AMT) by 6.9% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 49,353 shares of the real estate investment trust’s stock after purchasing an additional 3,187 shares during the period. Lowe Brockenbrough & Co. Inc.’s holdings in American Tower were worth $8,517,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Richards Merrill & Peterson Inc. acquired a new stake in shares of American Tower in the fourth quarter valued at about $25,000. Oakworth Capital Inc. lifted its stake in shares of American Tower by 90.7% in the fourth quarter. Oakworth Capital Inc. now owns 143 shares of the real estate investment trust’s stock worth $25,000 after acquiring an additional 68 shares during the period. Swiss RE Ltd. bought a new stake in American Tower in the fourth quarter valued at approximately $25,000. Triumph Capital Management bought a new stake in American Tower in the third quarter valued at approximately $29,000. Finally, Acumen Wealth Advisors LLC acquired a new stake in American Tower during the 4th quarter valued at approximately $29,000. 92.69% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other American Tower news, EVP Ruth T. Dowling sold 416 shares of American Tower stock in a transaction on Wednesday, April 29th. The shares were sold at an average price of $177.54, for a total value of $73,856.64. Following the completion of the sale, the executive vice president directly owned 29,461 shares of the company’s stock, valued at approximately $5,230,505.94. The trade was a 1.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.08% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on AMT shares. Weiss Ratings upgraded shares of American Tower from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, July 14th. Barclays decreased 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 research report on Thursday, April 16th. Jefferies Financial Group boosted their target price on shares of American Tower from $209.00 to $210.00 and gave the company a “buy” rating in a report on Tuesday, April 14th. Truist Financial upped their price target on shares of American Tower from $205.00 to $208.00 and gave the company a “buy” rating in a research report on Thursday, April 30th. Finally, Sanford C. Bernstein upgraded American Tower from a “market perform” rating to an “outperform” rating and set a $207.00 price target for the company in a report on Tuesday, May 19th. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, American Tower presently has a consensus rating of “Moderate Buy” and an average target price of $215.57.

American Tower Price Performance

American Tower stock opened at $170.13 on Monday. The stock has a market capitalization of $79.26 billion, a price-to-earnings ratio of 27.48, a PEG ratio of 0.71 and a beta of 0.91. American Tower Corporation has a 52-week low of $160.06 and a 52-week high of $234.33. The company has a debt-to-equity ratio of 3.07, a quick ratio of 0.43 and a current ratio of 0.43. The stock’s 50 day moving average price is $177.64 and its two-hundred day moving average price is $178.72.

American Tower (NYSE:AMT) last released its quarterly earnings data on Tuesday, April 28th. The real estate investment trust reported $2.84 earnings per share for the quarter, beating the consensus estimate of $1.60 by $1.24. American Tower had a net margin of 26.81% and a return on equity of 27.79%. The company had revenue of $2.74 billion during the quarter, compared to analyst estimates of $2.66 billion. During the same quarter in the previous year, the business posted $2.75 EPS. American Tower’s revenue for the quarter 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, equities analysts predict that American Tower Corporation will post 10.66 earnings per share for the current year.

American Tower Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, July 13th. Shareholders of record on Friday, June 12th were issued a $1.79 dividend. This represents a $7.16 dividend on an annualized basis and a yield of 4.2%. The ex-dividend date was Friday, June 12th. American Tower’s dividend payout ratio (DPR) 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.