PNC Financial Services Group Inc. Buys 110,635 Shares of American Tower Corporation $AMT

PNC Financial Services Group Inc. boosted its stake in American Tower Corporation (NYSE:AMT) by 39.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 392,595 shares of the real estate investment trust’s stock after purchasing an additional 110,635 shares during the period. PNC Financial Services Group Inc. owned about 0.08% of American Tower worth $68,928,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Richards Merrill & Peterson Inc. bought a new position in American Tower in the 4th quarter valued at approximately $25,000. Oakworth Capital Inc. lifted its stake in American Tower by 90.7% in the 4th quarter. Oakworth Capital Inc. now owns 143 shares of the real estate investment trust’s stock valued at $25,000 after purchasing an additional 68 shares during the last quarter. Holos Integrated Wealth LLC bought a new position in American Tower in the 4th quarter valued at approximately $27,000. Triumph Capital Management acquired a new position in American Tower in the 3rd quarter valued at approximately $29,000. Finally, Steph & Co. increased its position in American Tower by 87.2% in the 4th quarter. Steph & Co. now owns 176 shares of the real estate investment trust’s stock valued at $31,000 after acquiring an additional 82 shares during the period. Institutional investors own 92.69% of the company’s stock.

Insider Transactions at American Tower

In other news, Director Rajesh Kalathur acquired 2,671 shares of the firm’s stock in a transaction dated 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 transaction, the director directly owned 4,936 shares in the company, valued at $914,640.80. This represents a 117.92% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Ruth T. Dowling sold 416 shares of the stock in a transaction on Wednesday, April 29th. The stock was sold at an average price of $177.54, for a total transaction of $73,856.64. Following the sale, the executive vice president owned 29,461 shares of the company’s stock, valued at approximately $5,230,505.94. This trade represents a 1.39% 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. Insiders sold a total of 42,181 shares of company stock worth $8,046,071 over the last three months. 0.08% of the stock is owned by company insiders.

American Tower Trading Down 0.2%

AMT opened at $183.72 on Friday. American Tower Corporation has a twelve month low of $165.08 and a twelve month high of $234.33. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 3.07. The company has a fifty day moving average of $177.38 and a 200-day moving average of $179.09. The stock has a market cap of $85.59 billion, a PE ratio of 29.68, a price-to-earnings-growth ratio of 0.77 and a beta of 0.90.

American Tower (NYSE:AMT) last posted its quarterly earnings data on Tuesday, April 28th. The real estate investment trust reported $2.84 earnings per share 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 during the quarter, compared to analysts’ expectations of $2.66 billion. During the same period in the prior year, the company posted $2.75 earnings per share. American Tower’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. On average, sell-side analysts predict that American Tower Corporation will post 10.67 EPS for the current year.

American Tower Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 13th. Stockholders of record on Friday, June 12th will be given a dividend of $1.79 per share. The ex-dividend date is Friday, June 12th. This represents a $7.16 annualized dividend and a dividend yield of 3.9%. American Tower’s dividend payout ratio is 115.67%.

Analyst Ratings Changes

Several equities analysts have issued reports on AMT shares. TD Cowen decreased their price target on shares of American Tower from $235.00 to $225.00 in a research report on Wednesday, February 25th. Royal Bank Of Canada restated a “sector perform” rating and issued a $195.00 price target on shares of American Tower in a research report on Thursday, April 30th. Weiss Ratings upgraded shares of American Tower from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, May 11th. Morgan Stanley decreased their price target on shares of American Tower from $225.00 to $220.00 and set an “overweight” rating for the company in a research report on Wednesday, February 25th. Finally, BMO Capital Markets upped their price target on shares of American Tower from $185.00 to $200.00 and gave the company a “market perform” rating in a research report on Wednesday, February 25th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $216.20.

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.