Ables Iannone Moore & Associates Inc. Grows Stock Holdings in American Tower Corporation $AMT

Ables Iannone Moore & Associates Inc. raised its stake in American Tower Corporation (NYSE:AMT) by 28.8% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 21,731 shares of the real estate investment trust’s stock after buying an additional 4,858 shares during the quarter. American Tower makes up approximately 2.1% of Ables Iannone Moore & Associates Inc.’s portfolio, making the stock its 11th biggest holding. Ables Iannone Moore & Associates Inc.’s holdings in American Tower were worth $3,815,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. increased its stake in American Tower by 8.9% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 96,793 shares of the real estate investment trust’s stock worth $18,615,000 after buying an additional 7,872 shares during the period. Eastern Bank boosted its position in American Tower by 69.6% in the 3rd quarter. Eastern Bank now owns 139,091 shares of the real estate investment trust’s stock valued at $26,750,000 after buying an additional 57,078 shares during the last quarter. Machina Capital S.A.S. acquired a new stake in shares of American Tower during the third quarter valued at about $2,871,000. Krilogy Financial LLC purchased a new stake in shares of American Tower during the third quarter worth about $1,044,000. Finally, Commerzbank Aktiengesellschaft FI increased its position in shares of American Tower by 92.4% during the third quarter. Commerzbank Aktiengesellschaft FI now owns 61,397 shares of the real estate investment trust’s stock worth $11,808,000 after acquiring an additional 29,486 shares during the last quarter. 92.69% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. New Street Research raised American Tower from a “neutral” rating to a “buy” rating and set a $203.00 price target for the company in a report on Monday, January 5th. Barclays reaffirmed an “equal weight” rating and issued a $200.00 target price (down from $203.00) on shares of American Tower in a research report on Monday, December 1st. Raymond James Financial decreased their price target on shares of American Tower from $231.00 to $229.00 and set a “strong-buy” rating for the company in a research report on Friday, January 23rd. The Goldman Sachs Group cut their price target on shares of American Tower from $230.00 to $210.00 and set a “buy” rating on the stock in a report on Friday, January 16th. Finally, Sanford C. Bernstein started coverage on shares of American Tower in a research note on Thursday, March 5th. They set a “market perform” rating and a $205.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $217.35.

American Tower Stock Performance

AMT stock opened at $182.70 on Friday. The stock’s 50 day simple moving average is $182.24 and its 200 day simple moving average is $183.66. American Tower Corporation has a 12-month low of $166.88 and a 12-month high of $234.33. The firm has a market cap of $85.15 billion, a P/E ratio of 33.90, a P/E/G ratio of 0.76 and a beta of 0.92. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 3.27.

American Tower (NYSE:AMT) last released its quarterly earnings data on Tuesday, February 24th. The real estate investment trust reported $1.75 EPS for the quarter, missing analysts’ consensus estimates of $2.54 by ($0.79). American Tower had a return on equity of 24.36% and a net margin of 23.76%.The business had revenue of $2.74 billion during the quarter, compared to analyst estimates of $2.69 billion. During the same period in the prior year, the firm earned $2.62 EPS. The business’s revenue for the quarter was up 7.5% compared to the same quarter last year. American Tower has set its FY 2026 guidance at 10.780-10.950 EPS. As a group, equities research analysts predict that American Tower Corporation will post 10.14 EPS for the current year.

American Tower Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 28th. Stockholders of record on Tuesday, April 14th will be issued a $1.79 dividend. This is a boost from American Tower’s previous quarterly dividend of $1.70. The ex-dividend date of this dividend is Tuesday, April 14th. This represents a $7.16 annualized dividend and a dividend yield of 3.9%. American Tower’s dividend payout ratio (DPR) is presently 126.16%.

Insider Transactions at American Tower

In other American Tower news, Director Rajesh Kalathur bought 2,671 shares of the business’s stock in a transaction on Tuesday, March 10th. The shares were purchased at an average price of $185.30 per share, with a total value of $494,936.30. Following the completion of the acquisition, the director directly owned 4,936 shares of the company’s stock, valued at approximately $914,640.80. The trade was a 117.92% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, COO Eugene M. Noel sold 41,209 shares of the company’s stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $191.05, for a total value of $7,872,979.45. Following the transaction, the chief operating officer directly owned 29,592 shares of the company’s stock, valued at $5,653,551.60. This trade represents a 58.20% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.17% of the stock is owned by corporate insiders.

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.