Generate Investment Management Ltd Buys New Position in American Tower Corporation $AMT

Generate Investment Management Ltd purchased a new position in American Tower Corporation (NYSE:AMT) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 36,465 shares of the real estate investment trust’s stock, valued at approximately $5,969,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Raleigh Capital Management Inc. increased its holdings in shares of American Tower by 489.1% during the first quarter. Raleigh Capital Management Inc. now owns 13,703 shares of the real estate investment trust’s stock valued at $2,365,000 after acquiring an additional 11,377 shares in the last quarter. Canal Capital Management LLC raised its position in shares of American Tower by 81.9% in the 1st quarter. Canal Capital Management LLC now owns 34,471 shares of the real estate investment trust’s stock valued at $5,949,000 after purchasing an additional 15,520 shares during the last quarter. Bernzott Capital Advisors boosted its stake in American Tower by 29.3% in the 1st quarter. Bernzott Capital Advisors now owns 42,161 shares of the real estate investment trust’s stock worth $7,276,000 after purchasing an additional 9,556 shares in the last quarter. Groupe la Francaise boosted its stake in American Tower by 319.0% in the 2nd quarter. Groupe la Francaise now owns 33,505 shares of the real estate investment trust’s stock worth $5,481,000 after purchasing an additional 25,508 shares in the last quarter. Finally, BIP Wealth LLC purchased a new stake in American Tower during the 2nd quarter worth approximately $1,004,000. 92.69% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CFO Robert Joseph Meyer sold 5,000 shares of American Tower stock in a transaction dated Wednesday, July 29th. The stock was sold at an average price of $178.89, for a total value of $894,450.00. Following the sale, the chief financial officer directly owned 21,428 shares in the company, valued at approximately $3,833,254.92. The trade was a 18.92% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Rajesh Kalathur acquired 2,829 shares of the business’s stock in a transaction on Friday, August 21st. The shares were purchased at an average price of $177.00 per share, with a total value of $500,733.00. Following the completion of the purchase, the director owned 7,765 shares in the company, valued at $1,374,405. This represents a 57.31% increase in their position. The SEC filing for this purchase provides additional information. In the last three months, insiders have sold 6,791 shares of company stock worth $1,204,091. Insiders own 0.08% of the company’s stock.

American Tower Price Performance

Shares of NYSE:AMT traded down $0.99 during trading on Wednesday, reaching $178.44. 967,540 shares of the company’s stock traded hands, compared to its average volume of 3,067,781. 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 company has a 50-day simple moving average of $172.89 and a 200-day simple moving average of $175.13. The firm has a market cap of $83.15 billion, a PE ratio of 24.54, a P/E/G ratio of 2.93 and a beta of 0.88. American Tower Corporation has a fifty-two week low of $160.06 and a fifty-two week high of $196.08.

American Tower (NYSE:AMT) last posted its quarterly earnings data on Tuesday, July 28th. The real estate investment trust reported $2.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.57 by $1.14. American Tower had a net margin of 31.08% and a return on equity of 32.76%. The business had revenue of $2.75 billion for the quarter, compared to the consensus estimate of $2.70 billion. During the same period last year, the firm posted $2.60 earnings per share. The company’s revenue 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. As a group, analysts predict that American Tower Corporation will post 10.80 earnings per share for the current year.

American Tower Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 20th. Investors of record on Wednesday, September 30th will be paid a $1.79 dividend. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $7.16 dividend on an annualized basis and a yield of 4.0%. American Tower’s dividend payout ratio (DPR) is currently 98.49%.

Analyst Ratings Changes

A number of research analysts have issued reports on AMT shares. BMO Capital Markets upped their price target on shares of American Tower from $190.00 to $195.00 and gave the company a “market perform” rating in a research note on Wednesday, July 29th. Royal Bank Of Canada raised shares of American Tower from a “sector perform” rating to an “outperform” rating and raised their price target for the stock from $195.00 to $205.00 in a report on Friday, June 26th. Truist Financial reiterated a “buy” rating and set a $207.00 price objective (down from $208.00) on shares of American Tower in a research note on Wednesday, August 12th. Barclays upped their target price on American Tower from $198.00 to $199.00 and gave the company an “overweight” rating in a research report on Wednesday, September 30th. Finally, Sanford C. Bernstein reaffirmed an “outperform” rating and set a $214.00 price target on shares of American Tower in a research report on Wednesday, July 29th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $215.48.

American Tower Profile

American Tower Corporation (NYSE: AMT) is a global real estate investment trust that owns, operates and develops communications infrastructure. Its portfolio includes wireless and broadcast towers, rooftop sites, distributed antenna systems and other facilities that support wireless communications, television and radio broadcasting, government communications and other connectivity services.

The company leases space on its communications sites to wireless carriers, broadcasters, government agencies and other customers.