AIA Group Ltd Increases Stake in American Tower Corporation $AMT

AIA Group Ltd boosted its stake in American Tower Corporation (NYSE:AMT) by 8.0% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 68,285 shares of the real estate investment trust’s stock after purchasing an additional 5,074 shares during the quarter. AIA Group Ltd’s holdings in American Tower were worth $11,785,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in AMT. Richards Merrill & Peterson Inc. purchased a new position in American Tower during the 4th quarter valued at approximately $25,000. Oakworth Capital Inc. raised its holdings in shares of American Tower by 90.7% during the 4th quarter. Oakworth Capital Inc. now owns 143 shares of the real estate investment trust’s stock worth $25,000 after acquiring an additional 68 shares in the last quarter. Swiss RE Ltd. purchased a new stake in shares of American Tower during the 4th quarter worth approximately $25,000. Holos Integrated Wealth LLC bought a new position in shares of American Tower during the 4th quarter valued at approximately $27,000. Finally, Triumph Capital Management purchased a new position in shares of American Tower in the third quarter valued at $29,000. Institutional investors own 92.69% of the company’s stock.

Insider Activity at American Tower

In related news, EVP Ruth T. Dowling sold 556 shares of American Tower stock in a transaction dated Tuesday, April 28th. The stock was sold at an average price of $178.48, for a total value of $99,234.88. Following the completion of the sale, the executive vice president directly owned 29,877 shares in the company, valued at $5,332,446.96. The trade was a 1.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.08% of the company’s stock.

American Tower Stock Up 0.7%

Shares of NYSE AMT opened at $170.13 on Friday. American Tower Corporation has a 52-week low of $160.06 and a 52-week high of $234.33. The firm has a market capitalization of $79.26 billion, a price-to-earnings ratio of 27.48, a PEG ratio of 0.71 and a beta of 0.91. The stock has a 50 day moving average price of $177.64 and a 200 day moving average price of $178.70. The company has a debt-to-equity ratio of 3.07, a quick ratio of 0.43 and a current ratio of 0.43.

American Tower (NYSE:AMT) last released its quarterly earnings data on Tuesday, April 28th. The real estate investment trust reported $2.84 EPS for the quarter, topping the consensus estimate of $1.60 by $1.24. The company had revenue of $2.74 billion for the quarter, compared to the consensus estimate of $2.66 billion. American Tower had a return on equity of 27.79% and a net margin of 26.81%.American Tower’s quarterly revenue was up 6.8% on a year-over-year basis. During the same period last year, the business posted $2.75 EPS. American Tower has set its FY 2026 guidance at 10.900-11.07 EPS. Sell-side analysts expect that American Tower Corporation will post 10.66 earnings per share for the current year.

American Tower Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, July 13th. Stockholders of record on Friday, June 12th were given a dividend of $1.79 per share. The ex-dividend date of this dividend was Friday, June 12th. This represents a $7.16 dividend on an annualized basis and a dividend yield of 4.2%. American Tower’s dividend payout ratio is presently 115.67%.

Analysts Set New Price Targets

AMT has been the topic of several analyst reports. Raymond James Financial reissued a “strong-buy” rating and set a $240.00 price objective on shares of American Tower in a research note on Wednesday, April 29th. Truist Financial raised their price objective on American Tower from $205.00 to $208.00 and gave the company a “buy” rating in a research note on Thursday, April 30th. Weiss Ratings raised American Tower from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday. Barclays dropped their price objective on shares of American Tower from $200.00 to $195.00 and set an “equal weight” rating for the company in a research note on Thursday, April 16th. Finally, Sanford C. Bernstein upgraded shares of American Tower from a “market perform” rating to an “outperform” rating and set a $207.00 price objective on the stock in a research report on Tuesday, May 19th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $215.57.

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.