BI Asset Management Fondsmaeglerselskab A S Sells 47,799 Shares of American Tower Corporation $AMT

BI Asset Management Fondsmaeglerselskab A S lowered its holdings in American Tower Corporation (NYSE:AMT) by 26.4% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 132,933 shares of the real estate investment trust’s stock after selling 47,799 shares during the period. BI Asset Management Fondsmaeglerselskab A S’s holdings in American Tower were worth $22,942,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the business. CIBC Bancorp USA Inc. bought a new stake in American Tower in the 3rd quarter worth approximately $35,633,000. Nordea Investment Management AB grew its position in American Tower by 10.4% during the fourth quarter. Nordea Investment Management AB now owns 1,743,321 shares of the real estate investment trust’s stock valued at $306,284,000 after acquiring an additional 164,645 shares during the last quarter. Rathbones Group PLC grew its position in American Tower by 14.9% during the fourth quarter. Rathbones Group PLC now owns 474,216 shares of the real estate investment trust’s stock valued at $83,258,000 after acquiring an additional 61,428 shares during the last quarter. Legal & General Group Plc raised its stake in shares of American Tower by 4.7% during the fourth quarter. Legal & General Group Plc now owns 4,873,695 shares of the real estate investment trust’s stock worth $855,675,000 after acquiring an additional 220,447 shares in the last quarter. Finally, Clearstead Trust LLC raised its stake in shares of American Tower by 69.0% during the third quarter. Clearstead Trust LLC now owns 24,477 shares of the real estate investment trust’s stock worth $4,707,000 after acquiring an additional 9,990 shares in the last quarter. Institutional investors own 92.69% of the company’s stock.

Insider Activity

In other American Tower news, EVP Ruth T. Dowling sold 556 shares of the business’s stock in a transaction dated Tuesday, April 28th. The shares were sold at an average price of $178.48, for a total value of $99,234.88. Following the transaction, the executive vice president owned 29,877 shares in the company, valued at approximately $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 Securities & Exchange Commission, which can be accessed 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

A number of equities research analysts have recently issued reports on AMT shares. TD Cowen cut their price objective on shares of American Tower from $235.00 to $225.00 in a research note on Wednesday, February 25th. Mizuho upgraded shares of American Tower from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $189.00 to $205.00 in a research report on Wednesday, April 15th. Truist Financial boosted their price target on shares of American Tower from $205.00 to $208.00 and gave the stock a “buy” rating in a research note on Thursday, April 30th. Sanford C. Bernstein upgraded shares of American Tower from a “market perform” rating to an “outperform” rating and set a $207.00 price target for the company in a research report on Tuesday, May 19th. Finally, Jefferies Financial Group raised their price objective on American Tower from $209.00 to $210.00 and gave the company a “buy” rating in a research note on Tuesday, April 14th. One investment 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.com, the company presently has an average rating of “Moderate Buy” and an average target price of $216.20.

American Tower Stock Performance

NYSE:AMT opened at $175.66 on Friday. The firm has a market cap of $81.84 billion, a PE ratio of 28.38, a price-to-earnings-growth ratio of 0.74 and a beta of 0.90. American Tower Corporation has a fifty-two week low of $165.08 and a fifty-two week high of $234.33. The company has a debt-to-equity ratio of 3.07, a quick ratio of 0.43 and a current ratio of 0.43. The business has a 50 day moving average price of $181.59 and a 200-day moving average price of $179.91.

American Tower (NYSE:AMT) last issued its earnings results 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. American Tower had a net margin of 26.81% and a return on equity of 27.79%. The company had revenue of $2.74 billion for the quarter, compared to the consensus estimate of $2.66 billion. During the same period in the previous year, the firm earned $2.75 earnings per share. The firm’s revenue for the quarter 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 predict that American Tower Corporation will post 10.66 earnings per share for the current year.

American Tower Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 13th. Shareholders of record on Friday, June 12th will be issued a $1.79 dividend. This represents a $7.16 dividend on an annualized basis and a yield of 4.1%. The ex-dividend date of this dividend is Friday, June 12th. American Tower’s dividend payout ratio (DPR) is 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.