Ally Financial Inc. Increases Stake in American Tower Corporation $AMT

Ally Financial Inc. boosted its position in shares of American Tower Corporation (NYSE:AMT) by 29.2% during the 4th quarter, HoldingsChannel.com reports. The firm owned 31,000 shares of the real estate investment trust’s stock after purchasing an additional 7,000 shares during the period. Ally Financial Inc.’s holdings in American Tower were worth $5,443,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Oakworth Capital Inc. lifted its stake in American Tower by 90.7% during 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 during the period. Richards Merrill & Peterson Inc. bought a new position in American Tower during the 4th quarter valued at about $25,000. Swiss RE Ltd. bought a new position in American Tower during the 4th quarter valued at about $25,000. Triumph Capital Management bought a new position in American Tower during the 3rd quarter valued at about $29,000. Finally, Holos Integrated Wealth LLC bought a new position in American Tower during the 4th quarter valued at about $27,000. Institutional investors own 92.69% of the company’s stock.

Insider Buying and Selling

In other American Tower news, EVP Ruth T. Dowling sold 416 shares of the firm’s stock in a transaction that occurred on Wednesday, April 29th. The shares were sold at an average price of $177.54, for a total transaction of $73,856.64. Following the sale, the executive vice president owned 29,461 shares in the company, valued at approximately $5,230,505.94. This trade represents a 1.39% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.08% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on AMT shares. UBS Group lowered their target price on shares of American Tower from $254.00 to $248.00 and set a “buy” rating on the stock in a research note on Wednesday, February 25th. Jefferies Financial Group upped their target price on shares of American Tower from $209.00 to $210.00 and gave the company a “buy” rating in a research note on Tuesday, April 14th. Raymond James Financial restated a “strong-buy” rating and set a $240.00 target price on shares of American Tower in a research note on Wednesday, April 29th. Sanford C. Bernstein upgraded shares of American Tower from a “market perform” rating to an “outperform” rating and set a $207.00 target price on the stock in a research note on Tuesday, May 19th. Finally, Scotiabank upped their target price on shares of American Tower from $214.00 to $218.00 and gave the company an “outperform” rating in a research note on Wednesday, April 29th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $216.20.

American Tower Price Performance

Shares of NYSE:AMT opened at $187.20 on Friday. The firm’s 50 day moving average price is $181.01 and its 200-day moving average price is $179.92. American Tower Corporation has a twelve month low of $165.08 and a twelve month high of $234.33. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 3.07. The stock has a market capitalization of $87.22 billion, a PE ratio of 30.24, a price-to-earnings-growth ratio of 0.78 and a beta of 0.90.

American Tower (NYSE:AMT) last issued its quarterly earnings data on Tuesday, April 28th. The real estate investment trust reported $2.84 earnings per share for the quarter, topping 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 firm had revenue of $2.74 billion for the quarter, compared to analysts’ expectations of $2.66 billion. During the same quarter in the prior year, the business earned $2.75 EPS. The business’s quarterly 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. Equities research analysts expect that American Tower Corporation will post 10.67 EPS for the current year.

American Tower Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 13th. Shareholders of record on Friday, June 12th will be paid a dividend of $1.79 per share. The ex-dividend date is Friday, June 12th. This represents a $7.16 dividend on an annualized basis and a yield of 3.8%. American Tower’s dividend payout ratio (DPR) is presently 115.67%.

American Tower Company 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.