ABC Arbitrage SA Has $2.69 Million Position in American Tower Corporation $AMT

ABC Arbitrage SA lifted its holdings in shares of American Tower Corporation (NYSE:AMT) by 41.3% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 15,579 shares of the real estate investment trust’s stock after purchasing an additional 4,557 shares during the period. ABC Arbitrage SA’s holdings in American Tower were worth $2,689,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Richards Merrill & Peterson Inc. acquired a new position in shares of American Tower during the fourth quarter worth approximately $25,000. Oakworth Capital Inc. lifted its holdings 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 worth $25,000 after buying an additional 68 shares in the last quarter. Swiss RE Ltd. acquired a new position in American Tower during the 4th quarter worth $25,000. Holos Integrated Wealth LLC bought a new position in American Tower in the 4th quarter valued at $27,000. Finally, Triumph Capital Management acquired a new stake in shares of American Tower in the 3rd quarter valued at $29,000. 92.69% of the stock is currently owned by institutional investors and hedge funds.

American Tower Trading Up 0.5%

Shares of NYSE AMT opened at $169.47 on Tuesday. American Tower Corporation has a twelve month low of $160.06 and a twelve month high of $234.33. The stock has a market cap of $78.95 billion, a price-to-earnings ratio of 27.38, a P/E/G ratio of 0.70 and a beta of 0.91. 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 company’s fifty day moving average is $178.39 and its 200-day moving average is $178.90.

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, beating analysts’ consensus estimates 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 firm’s quarterly revenue was up 6.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.75 EPS. 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 EPS for the current year.

American Tower Announces Dividend

The firm 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 (DPR) is currently 115.67%.

Insider Activity at American Tower

In other news, EVP Ruth T. Dowling sold 416 shares of American Tower stock in a transaction dated Wednesday, April 29th. The stock was sold at an average price of $177.54, for a total transaction of $73,856.64. Following the transaction, the executive vice president owned 29,461 shares in the company, valued at $5,230,505.94. The trade was a 1.39% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.08% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

AMT has been the topic of several research reports. Weiss Ratings lowered American Tower from a “hold (c)” rating to a “hold (c-)” rating in a research note on Monday, June 29th. Truist Financial lifted their price objective on American Tower from $205.00 to $208.00 and gave the stock a “buy” rating in a research report on Thursday, April 30th. Barclays dropped their price objective on American Tower from $200.00 to $195.00 and set an “equal weight” rating for the company in a report on Thursday, April 16th. 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 report on Tuesday, April 14th. Finally, Raymond James Financial reaffirmed a “strong-buy” rating and issued a $240.00 target price on shares of American Tower in a research note on Wednesday, April 29th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, American Tower has a consensus rating of “Moderate Buy” and an average target price of $215.57.

About American Tower

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.