American Tower Corporation $AMT Shares Purchased by Rathbones Group PLC

Rathbones Group PLC lifted its stake in American Tower Corporation (NYSE:AMT) by 8.1% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 512,409 shares of the real estate investment trust’s stock after purchasing an additional 38,193 shares during the quarter. Rathbones Group PLC owned 0.11% of American Tower worth $88,432,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of AMT. J. Stern & Co. LLP increased its holdings in American Tower by 28,121.1% in the fourth quarter. J. Stern & Co. LLP now owns 37,686,978 shares of the real estate investment trust’s stock worth $6,616,703,000 after buying an additional 37,553,436 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its stake in American Tower by 20,721.6% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 9,712,672 shares of the real estate investment trust’s stock valued at $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 fourth quarter worth approximately $1,171,180,000. Lazard Asset Management LLC increased its stake 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 purchasing an additional 4,250,242 shares during the last quarter. Finally, Capital International Investors raised its holdings 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 purchasing an additional 2,364,898 shares in the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

Insider Buying and Selling at American Tower

In related news, CFO Robert Joseph Meyer sold 5,000 shares of the stock in a transaction that occurred on Wednesday, July 29th. The shares were sold at an average price of $178.89, for a total value of $894,450.00. Following the sale, the chief financial officer directly owned 21,428 shares in the company, valued at $3,833,254.92. This trade represents a 18.92% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Ruth T. Dowling sold 1,106 shares of American Tower stock in a transaction dated Wednesday, July 29th. The shares were sold at an average price of $174.96, for a total value of $193,505.76. Following the transaction, the executive vice president owned 27,711 shares in the company, valued at $4,848,316.56. This trade represents a 3.84% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 6,791 shares of company stock worth $1,204,091 over the last 90 days. 0.08% of the stock is owned by corporate insiders.

American Tower Price Performance

Shares of AMT stock opened at $173.82 on Monday. American Tower Corporation has a 1 year low of $160.06 and a 1 year high of $217.39. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 3.12. The firm’s 50 day moving average is $175.87 and its 200-day moving average is $178.44. The firm has a market capitalization of $80.98 billion, a price-to-earnings ratio of 23.91, a PEG ratio of 2.78 and a beta of 0.91.

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 paid a $1.79 dividend. 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 4.1%. American Tower’s dividend payout ratio is 98.49%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on AMT. JPMorgan Chase & Co. cut their target price on shares of American Tower from $245.00 to $240.00 and set an “overweight” rating for the company in a research report on Wednesday, April 29th. Raymond James Financial reaffirmed a “strong-buy” rating and issued a $240.00 price target on shares of American Tower in a research report on Wednesday, April 29th. TD Cowen lifted their price objective on American Tower from $225.00 to $227.00 and gave the stock a “buy” rating in a research note on Wednesday. Royal Bank Of Canada upgraded American Tower from a “sector perform” rating to an “outperform” rating and increased their target price for the company from $195.00 to $205.00 in a research note on Friday, June 26th. Finally, Jefferies Financial Group lowered their target price on American Tower from $210.00 to $201.00 and set a “buy” rating on the stock in a report on Wednesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $215.19.

American Tower News Roundup

Here are the key news stories impacting American Tower this week:

• Positive Sentiment: Analysts raised their valuation expectations for American Tower. One firm lifted its price target to $220, while BMO Capital Markets increased its target to $195, suggesting potential upside from recent trading levels. American Tower Price Target Raised to $220 BMO Raises American Tower Price Target
• Positive Sentiment: American Tower’s latest results were stronger than expected, with revenue up 6.8% year over year to $2.74 billion and EPS of $2.84 versus the $1.60 consensus estimate. Record CoreSite data-center leasing and continued demand from cloud and artificial-intelligence infrastructure provide additional growth support.
• Neutral Sentiment: EVP Ruth Dowling sold 1,791 shares across two transactions for approximately $309,641 under a pre-arranged Rule 10b5-1 plan. Because the sales were scheduled and she retained a sizable stake, the transactions are a limited signal about management’s outlook. SEC Insider Trading Filing
• Negative Sentiment: CFO Robert Joseph Meyer sold 5,000 shares worth approximately $894,450, reducing his ownership by 18.92%. Although the sale does not necessarily indicate deteriorating fundamentals, the larger transaction may weigh on investor sentiment. CFO SEC Insider Trading Filing
• Negative Sentiment: American Tower remains highly leveraged, with a debt-to-equity ratio of 3.12, making it sensitive to higher interest rates. Rising borrowing costs can pressure REIT valuations and reduce the appeal of its approximately 4.1% dividend yield.

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.