Avanza Fonder AB Acquires Shares of 4,312 American Tower Corporation $AMT

Avanza Fonder AB bought a new position in shares of American Tower Corporation (NYSE:AMT) during the fourth quarter, according to its most recent filing with the SEC. The fund bought 4,312 shares of the real estate investment trust’s stock, valued at approximately $757,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in AMT. Norges Bank bought a new position in American Tower during the second quarter valued at about $1,371,875,000. Lazard Asset Management LLC raised its position in American Tower by 1,984.8% in the third quarter. Lazard Asset Management LLC now owns 4,464,382 shares of the real estate investment trust’s stock worth $858,552,000 after acquiring an additional 4,250,242 shares during the period. Viking Global Investors LP raised its position in American Tower by 233.5% in the second quarter. Viking Global Investors LP now owns 2,797,125 shares of the real estate investment trust’s stock worth $618,221,000 after acquiring an additional 1,958,329 shares during the period. Barrow Hanley Mewhinney & Strauss LLC purchased a new position in American Tower in the third quarter valued at about $305,872,000. Finally, Arrowstreet Capital Limited Partnership grew its position in shares of American Tower by 35.0% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 2,796,007 shares of the real estate investment trust’s stock valued at $537,728,000 after acquiring an additional 724,504 shares during the period. 92.69% of the stock is owned by hedge funds and other institutional investors.

American Tower Price Performance

AMT stock opened at $167.37 on Thursday. The firm has a 50 day moving average of $182.23 and a 200-day moving average of $182.83. The firm has a market capitalization of $78.01 billion, a P/E ratio of 31.05, a price-to-earnings-growth ratio of 0.72 and a beta of 0.92. American Tower Corporation has a 12 month low of $165.08 and a 12 month high of $234.33. 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 posted its earnings results on Tuesday, February 24th. The real estate investment trust reported $1.75 earnings per share 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 firm had revenue of $2.74 billion for the quarter, compared to the consensus estimate of $2.69 billion. During the same period last year, the company posted $2.62 EPS. The business’s revenue was up 7.5% on a year-over-year basis. American Tower has set its FY 2026 guidance at 10.780-10.950 EPS. As a group, sell-side analysts predict that American Tower Corporation will post 10.14 earnings per share for the current fiscal year.

American Tower Increases Dividend

The company 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. The ex-dividend date of this dividend is Tuesday, April 14th. This is an increase from American Tower’s previous quarterly dividend of $1.70. This represents a $7.16 annualized dividend and a dividend yield of 4.3%. American Tower’s payout ratio is currently 126.16%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on AMT. Royal Bank Of Canada decreased their price target on shares of American Tower from $220.00 to $195.00 and set a “sector perform” rating for the company in a research note on Monday, January 12th. The Goldman Sachs Group dropped their price objective on American Tower from $230.00 to $210.00 and set a “buy” rating on the stock in a research note on Friday, January 16th. Jefferies Financial Group increased their price objective on American Tower from $200.00 to $209.00 and gave the company a “buy” rating in a report on Thursday, February 26th. Mizuho decreased their target price on American Tower from $217.00 to $189.00 and set a “neutral” rating for the company in a research report on Monday, January 12th. Finally, JPMorgan Chase & Co. dropped their price target on American Tower from $250.00 to $245.00 and set an “overweight” rating on the stock in a research report on Monday, January 12th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $217.35.

Insiders Place Their Bets

In related news, COO Eugene M. Noel sold 41,209 shares of American Tower stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $191.05, for a total transaction of $7,872,979.45. Following the completion of the sale, the chief operating officer owned 29,592 shares of the company’s stock, valued at approximately $5,653,551.60. This trade represents a 58.20% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Rajesh Kalathur bought 2,671 shares of American Tower stock in a transaction that occurred on Tuesday, March 10th. The shares were acquired at an average price of $185.30 per share, with a total value of $494,936.30. Following the completion of the transaction, the director owned 4,936 shares of the company’s stock, valued at $914,640.80. This represents a 117.92% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 0.17% of the company’s stock.

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.