Swedbank AB Buys 388,823 Shares of American Tower Corporation $AMT

Swedbank AB grew its position in shares of American Tower Corporation (NYSE:AMT) by 68.9% in the first quarter, HoldingsChannel reports. The firm owned 953,557 shares of the real estate investment trust’s stock after buying an additional 388,823 shares during the quarter. Swedbank AB’s holdings in American Tower were worth $164,565,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. J. Stern & Co. LLP boosted its stake in American Tower by 28,121.1% during the fourth quarter. J. Stern & Co. LLP now owns 37,686,978 shares of the real estate investment trust’s stock valued at $6,616,703,000 after buying an additional 37,553,436 shares during the last quarter. 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 acquiring an additional 9,666,025 shares during the last quarter. Norges Bank bought a new stake in American Tower in the 4th quarter worth approximately $1,171,180,000. Lazard Asset Management LLC raised its holdings in shares of American Tower by 1,984.8% during the 3rd 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 in the last quarter. Finally, Capital International Investors boosted its position in shares of American Tower by 157.0% during the 4th quarter. Capital International Investors now owns 3,871,368 shares of the real estate investment trust’s stock valued at $679,696,000 after acquiring an additional 2,364,898 shares during the last quarter. 92.69% of the stock is owned by institutional investors.

Insider Buying and Selling at American Tower

In related news, EVP Ruth T. Dowling sold 416 shares of the business’s stock in a transaction that occurred on Wednesday, April 29th. The stock was sold at an average price of $177.54, for a total value of $73,856.64. Following the completion of the sale, the executive vice president owned 29,461 shares in the company, valued at approximately $5,230,505.94. The trade was a 1.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible 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 Trading Up 2.0%

Shares of NYSE:AMT traded up $3.17 on Tuesday, hitting $165.28. 717,507 shares of the company’s stock were exchanged, compared to its average volume of 3,242,899. The stock has a market capitalization of $77.00 billion, a price-to-earnings ratio of 26.68, a price-to-earnings-growth ratio of 0.69 and a beta of 0.91. American Tower Corporation has a 12 month low of $160.06 and a 12 month high of $234.33. 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 business’s 50 day simple moving average is $179.93 and its two-hundred day simple moving average is $179.30.

American Tower (NYSE:AMT) last posted its quarterly 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 quarter last year, the firm posted $2.75 EPS. The firm’s revenue 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. Analysts anticipate that American Tower Corporation will post 10.66 EPS for the current fiscal year.

American Tower Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, July 13th. Stockholders of record on Friday, June 12th will be paid a dividend of $1.79 per share. This represents a $7.16 annualized dividend and a dividend yield of 4.3%. The ex-dividend date of this dividend is Friday, June 12th. American Tower’s payout ratio is currently 115.67%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Barclays cut their target price on shares of American Tower from $200.00 to $195.00 and set an “equal weight” rating for the company in a report on Thursday, April 16th. JPMorgan Chase & Co. decreased their price target on shares of American Tower from $245.00 to $240.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 29th. Royal Bank Of Canada upgraded shares of American Tower from a “sector perform” rating to an “outperform” rating and increased their price objective for the company from $195.00 to $205.00 in a research report on Friday, June 26th. Citizens Jmp reissued a “market outperform” rating and issued a $260.00 price objective on shares of American Tower in a research note on Wednesday, April 29th. Finally, The Goldman Sachs Group initiated coverage on shares of American Tower in a research report on Friday, June 26th. They set a “buy” rating and a $215.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $216.95.

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.