BNP Paribas Grows Holdings in American Tower Corporation $AMT

BNP Paribas raised its holdings in shares of American Tower Corporation (NYSE:AMT) by 74.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,188 shares of the real estate investment trust’s stock after purchasing an additional 3,499 shares during the quarter. BNP Paribas’ holdings in American Tower were worth $1,437,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in AMT. Northwestern Mutual Wealth Management Co. increased its stake in American Tower by 20,721.6% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 9,712,672 shares of the real estate investment trust’s stock worth $1,705,254,000 after buying an additional 9,666,025 shares during the period. Norges Bank purchased a new position in shares of American Tower during the fourth quarter worth approximately $1,171,180,000. Lazard Asset Management LLC increased its position in shares of American Tower by 1,984.8% during the third quarter. Lazard Asset Management LLC now owns 4,464,382 shares of the real estate investment trust’s stock worth $858,552,000 after acquiring an additional 4,250,242 shares during the period. Viking Global Investors LP raised its stake in shares of American Tower by 233.5% during the second quarter. Viking Global Investors LP now owns 2,797,125 shares of the real estate investment trust’s stock valued at $618,221,000 after acquiring an additional 1,958,329 shares in the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC purchased a new stake in shares of American Tower in the third quarter valued at approximately $305,872,000. 92.69% of the stock is currently owned by institutional investors.

American Tower Trading Down 1.1%

AMT opened at $185.44 on Wednesday. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 3.07. The firm has a market cap of $86.39 billion, a price-to-earnings ratio of 29.96, a PEG ratio of 0.78 and a beta of 0.90. American Tower Corporation has a 12 month low of $165.08 and a 12 month high of $234.33. The stock has a fifty day moving average price of $177.78 and a 200-day moving average price of $179.38.

American Tower (NYSE:AMT) last issued its quarterly earnings data on Tuesday, April 28th. The real estate investment trust reported $2.84 earnings per share for the quarter, beating analysts’ consensus estimates of $1.60 by $1.24. American Tower had a return on equity of 27.79% and a net margin of 26.81%.The company had revenue of $2.74 billion for the quarter, compared to the consensus estimate of $2.66 billion. During the same quarter last year, the company earned $2.75 earnings per share. The firm’s revenue for the quarter was up 6.8% compared to the same quarter last year. American Tower has set its FY 2026 guidance at 10.900-11.07 EPS. As a group, equities research analysts anticipate that American Tower Corporation will post 10.67 earnings per share for the current fiscal year.

American Tower Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 13th. Stockholders 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 dividend yield of 3.9%. The ex-dividend date is Friday, June 12th. American Tower’s dividend payout ratio (DPR) is currently 115.67%.

Analyst Upgrades and Downgrades

Several research analysts have commented on AMT shares. Raymond James Financial restated a “strong-buy” rating and set a $240.00 price objective on shares of American Tower in a report on Wednesday, April 29th. Weiss Ratings upgraded American Tower from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, May 11th. Morgan Stanley lowered their price objective on shares of American Tower from $225.00 to $220.00 and set an “overweight” rating for the company in a research note on Wednesday, February 25th. TD Cowen cut their target price on shares of American Tower from $235.00 to $225.00 in a research report on Wednesday, February 25th. Finally, Mizuho upgraded shares of American Tower from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $189.00 to $205.00 in a report on Wednesday, April 15th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, American Tower has a consensus rating of “Moderate Buy” and a consensus price target of $216.20.

Insider Buying and Selling

In other news, Director Rajesh Kalathur bought 2,671 shares of the stock in a transaction on Tuesday, March 10th. The stock was bought at an average cost of $185.30 per share, for a total transaction of $494,936.30. Following the completion of the purchase, the director directly owned 4,936 shares in the company, valued at approximately $914,640.80. The trade was a 117.92% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Ruth T. Dowling sold 556 shares of American Tower 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 transaction, the executive vice president directly owned 29,877 shares in the company, valued at $5,332,446.96. This represents a 1.83% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.08% of the stock is owned by insiders.

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.