Dividend Assets Capital LLC Raises Position in American Tower Corporation $AMT

Dividend Assets Capital LLC raised its position in American Tower Corporation (NYSE:AMT) by 16.4% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 42,665 shares of the real estate investment trust’s stock after acquiring an additional 6,006 shares during the quarter. American Tower comprises about 1.5% of Dividend Assets Capital LLC’s portfolio, making the stock its 25th biggest holding. Dividend Assets Capital LLC’s holdings in American Tower were worth $7,363,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Brighton Jones LLC lifted its holdings in American Tower by 113.0% in the 4th quarter. Brighton Jones LLC now owns 3,966 shares of the real estate investment trust’s stock valued at $727,000 after purchasing an additional 2,104 shares in the last quarter. Sivia Capital Partners LLC grew its holdings in shares of American Tower by 34.3% during the second quarter. Sivia Capital Partners LLC now owns 1,442 shares of the real estate investment trust’s stock worth $319,000 after buying an additional 368 shares in the last quarter. United Bank raised its position in shares of American Tower by 12.7% in the second quarter. United Bank now owns 6,488 shares of the real estate investment trust’s stock valued at $1,434,000 after buying an additional 733 shares during the last quarter. Treasurer of the State of North Carolina raised its position in shares of American Tower by 2.2% in the second quarter. Treasurer of the State of North Carolina now owns 218,511 shares of the real estate investment trust’s stock valued at $48,295,000 after buying an additional 4,778 shares during the last quarter. Finally, Ieq Capital LLC lifted its stake in shares of American Tower by 52.2% in the second quarter. Ieq Capital LLC now owns 34,248 shares of the real estate investment trust’s stock worth $7,570,000 after buying an additional 11,751 shares in the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on AMT shares. Weiss Ratings lowered shares of American Tower from a “hold (c)” rating to a “hold (c-)” rating in a research report on Monday, June 29th. JPMorgan Chase & Co. decreased their target price on shares of American Tower from $245.00 to $240.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 29th. Barclays lowered their target price on American Tower from $200.00 to $195.00 and set an “equal weight” rating on the stock in a report on Thursday, April 16th. Jefferies Financial Group upped their price target on American Tower from $209.00 to $210.00 and gave the company a “buy” rating in a research report on Tuesday, April 14th. Finally, Truist Financial increased their price target on American Tower from $205.00 to $208.00 and gave the company a “buy” rating in a report on Thursday, April 30th. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $216.95.

American Tower Stock Performance

NYSE:AMT opened at $165.84 on Monday. The company has a debt-to-equity ratio of 3.07, a current ratio of 0.43 and a quick ratio of 0.43. The firm has a market capitalization of $77.27 billion, a price-to-earnings ratio of 26.79, a PEG ratio of 0.69 and a beta of 0.91. The company’s 50-day moving average is $179.93 and its two-hundred day moving average is $179.30. American Tower Corporation has a 1-year low of $162.27 and a 1-year high of $234.33.

American Tower (NYSE:AMT) last posted its quarterly earnings results 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. The business had revenue of $2.74 billion during the quarter, compared to analysts’ expectations of $2.66 billion. American Tower had a net margin of 26.81% and a return on equity of 27.79%. The business’s revenue for the quarter was up 6.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.75 EPS. American Tower has set its FY 2026 guidance at 10.900-11.07 EPS. Analysts forecast that American Tower Corporation will post 10.66 EPS for the current year.

American Tower Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 13th. Investors of record on Friday, June 12th will be given a $1.79 dividend. This represents a $7.16 annualized dividend and a yield of 4.3%. The ex-dividend date is Friday, June 12th. American Tower’s dividend payout ratio is presently 115.67%.

Insiders Place Their Bets

In other American Tower news, EVP Ruth T. Dowling sold 556 shares of the firm’s stock in a transaction on Tuesday, April 28th. The stock was sold at an average price of $178.48, for a total transaction of $99,234.88. Following the completion of the sale, the executive vice president owned 29,877 shares of the company’s stock, valued at $5,332,446.96. This trade represents a 1.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available 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.

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.