Mediolanum International Funds Ltd Buys New Stake in American Tower Corporation $AMT

Mediolanum International Funds Ltd purchased a new position in shares of American Tower Corporation (NYSE:AMT) in the first quarter, HoldingsChannel reports. The institutional investor purchased 102,330 shares of the real estate investment trust’s stock, valued at approximately $17,433,000.

Other large investors have also recently added to or reduced their stakes in the company. Riverwater Partners LLC lifted its stake in shares of American Tower by 3.8% during the fourth quarter. Riverwater Partners LLC now owns 1,536 shares of the real estate investment trust’s stock worth $270,000 after purchasing an additional 56 shares in the last quarter. Triumph Capital Management boosted its position in shares of American Tower by 37.3% in the fourth quarter. Triumph Capital Management now owns 206 shares of the real estate investment trust’s stock worth $36,000 after buying an additional 56 shares during the period. Personal CFO Solutions LLC grew its stake in shares of American Tower by 3.5% in the fourth quarter. Personal CFO Solutions LLC now owns 1,667 shares of the real estate investment trust’s stock valued at $293,000 after buying an additional 57 shares in the last quarter. Twin City Private Wealth LLC grew its stake in shares of American Tower by 0.7% in the fourth quarter. Twin City Private Wealth LLC now owns 7,799 shares of the real estate investment trust’s stock valued at $1,382,000 after buying an additional 58 shares in the last quarter. Finally, Asset Advisory Group Inc. raised its holdings in shares of American Tower by 3.0% during the 1st quarter. Asset Advisory Group Inc. now owns 2,072 shares of the real estate investment trust’s stock valued at $358,000 after buying an additional 60 shares during the period. 92.69% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently commented on the company. JPMorgan Chase & Co. reduced their price target on American Tower from $245.00 to $240.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 29th. Citizens Jmp reiterated a “market outperform” rating and set a $260.00 price objective on shares of American Tower in a research note on Wednesday, April 29th. Weiss Ratings raised shares of American Tower from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, July 14th. Royal Bank Of Canada upgraded shares of American Tower from a “sector perform” rating to an “outperform” rating and upped their target price for the company from $195.00 to $205.00 in a research note on Friday, June 26th. Finally, The Goldman Sachs Group started coverage on shares of American Tower in a report on Friday, June 26th. They set a “buy” rating and a $215.00 price target for the company. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, American Tower presently has an average rating of “Moderate Buy” and an average price target of $215.57.

American Tower Trading Up 0.0%

NYSE:AMT opened at $170.13 on Monday. The stock has a market cap of $79.26 billion, a price-to-earnings ratio of 27.48, a price-to-earnings-growth ratio of 0.71 and a beta of 0.91. American Tower Corporation has a one year low of $160.06 and a one year 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’s 50-day simple moving average is $177.64 and its 200 day simple moving average is $178.72.

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 firm had revenue of $2.74 billion during the quarter, compared to analyst estimates of $2.66 billion. During the same quarter last year, the firm earned $2.75 EPS. American Tower’s quarterly revenue was up 6.8% on a year-over-year basis. American Tower has set its FY 2026 guidance at 10.900-11.07 EPS. As a group, sell-side analysts predict that American Tower Corporation will post 10.66 earnings per share for the current fiscal year.

American Tower Announces Dividend

The business 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 presently 115.67%.

Insider Buying and Selling at American Tower

In related news, EVP Ruth T. Dowling sold 416 shares of American Tower stock in a transaction on Wednesday, April 29th. The shares were 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 filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.08% of the company’s stock.

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.