Fifth Third Bancorp Has $20.27 Million Position in American Tower Corporation $AMT

Fifth Third Bancorp boosted its stake in shares of American Tower Corporation (NYSE:AMT) by 28.5% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 117,471 shares of the real estate investment trust’s stock after purchasing an additional 26,077 shares during the quarter. Fifth Third Bancorp’s holdings in American Tower were worth $20,273,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of AMT. Raleigh Capital Management Inc. boosted its position in American Tower by 489.1% during the 1st quarter. Raleigh Capital Management Inc. now owns 13,703 shares of the real estate investment trust’s stock valued at $2,365,000 after acquiring an additional 11,377 shares in the last quarter. Canal Capital Management LLC raised its position in shares of American Tower by 81.9% in the 1st quarter. Canal Capital Management LLC now owns 34,471 shares of the real estate investment trust’s stock worth $5,949,000 after acquiring an additional 15,520 shares in the last quarter. CIBC Bancorp USA Inc. bought a new position in shares of American Tower in the 3rd quarter worth $35,633,000. Legal & General Group Plc lifted its stake in shares of American Tower by 4.7% during the 4th quarter. Legal & General Group Plc now owns 4,873,695 shares of the real estate investment trust’s stock worth $855,675,000 after purchasing an additional 220,447 shares during the last quarter. Finally, Nordea Investment Management AB boosted 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 purchasing an additional 164,645 shares in the last quarter. Institutional investors own 92.69% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on AMT shares. Scotiabank raised their price target on shares of American Tower from $214.00 to $218.00 and gave the company an “outperform” rating in a report on Wednesday, April 29th. Sanford C. Bernstein raised shares of American Tower from a “market perform” rating to an “outperform” rating and set a $207.00 target price for the company in a research report on Tuesday, May 19th. The Goldman Sachs Group initiated coverage on shares of American Tower in a research note on Friday, June 26th. They issued a “buy” rating and a $215.00 target price for the company. Jefferies Financial Group lifted their price target on shares of American Tower from $209.00 to $210.00 and gave the stock a “buy” rating in a report on Tuesday, April 14th. Finally, Citizens Jmp reaffirmed a “market outperform” rating and set a $260.00 price target on shares of American Tower in a research report on Wednesday, April 29th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $215.57.

American Tower Trading Up 0.5%

Shares of American Tower stock opened at $169.47 on Tuesday. 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 fifty day moving average price of $178.39 and a 200 day moving average price of $178.90. American Tower Corporation has a 1 year low of $160.06 and a 1 year high of $234.33. The stock has a market cap of $78.95 billion, a PE ratio of 27.38, a price-to-earnings-growth ratio of 0.70 and a beta of 0.91.

American Tower (NYSE:AMT) last announced 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 company had revenue of $2.74 billion during the quarter, compared to analysts’ expectations 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 earned $2.75 earnings per share. 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 business also recently disclosed a quarterly dividend, which was paid on Monday, July 13th. Shareholders of record on Friday, June 12th were given a dividend of $1.79 per share. The ex-dividend date was Friday, June 12th. This represents a $7.16 dividend on an annualized basis and a yield of 4.2%. American Tower’s dividend payout ratio is currently 115.67%.

Insider Transactions at American Tower

In other 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 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. The trade was a 1.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.08% of the stock is currently owned by insiders.

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.