Canal Capital Management LLC Grows Stake in American Tower Corporation $AMT

Canal Capital Management LLC lifted its stake in American Tower Corporation (NYSE:AMT) by 81.9% in the first quarter, Holdings Channel.com reports. The firm owned 34,471 shares of the real estate investment trust’s stock after buying an additional 15,520 shares during the period. Canal Capital Management LLC’s holdings in American Tower were worth $5,949,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of AMT. Optas LLC grew its holdings in American Tower by 4.1% during the 1st quarter. Optas LLC now owns 1,733 shares of the real estate investment trust’s stock valued at $299,000 after purchasing an additional 69 shares during the last quarter. Leonteq Securities AG grew its stake in shares of American Tower by 49.4% during the first quarter. Leonteq Securities AG now owns 9,447 shares of the real estate investment trust’s stock valued at $1,630,000 after buying an additional 3,123 shares during the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its holdings in American Tower by 73.3% during the 1st quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 128,234 shares of the real estate investment trust’s stock valued at $22,131,000 after acquiring an additional 54,250 shares during the period. Elevation Point Wealth Partners LLC boosted its holdings in American Tower by 56.3% during the 1st quarter. Elevation Point Wealth Partners LLC now owns 10,763 shares of the real estate investment trust’s stock valued at $1,858,000 after acquiring an additional 3,878 shares during the period. Finally, Fideuram Intesa Sanpaolo Private Banking S.P.A. grew its position in American Tower by 0.8% in the 1st quarter. Fideuram Intesa Sanpaolo Private Banking S.P.A. now owns 81,826 shares of the real estate investment trust’s stock valued at $14,122,000 after acquiring an additional 621 shares during the last quarter. 92.69% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other American Tower news, EVP Ruth T. Dowling sold 556 shares of the firm’s stock in a transaction that occurred on Tuesday, April 28th. The shares were 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 of the company’s stock, valued at approximately $5,332,446.96. This trade represents a 1.83% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.08% of the company’s stock.

American Tower Stock Down 0.1%

NYSE:AMT opened at $165.84 on Friday. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 3.07. American Tower Corporation has a twelve month low of $162.27 and a twelve month high of $234.33. The company has a market cap of $77.27 billion, a PE ratio of 26.79, a P/E/G ratio of 0.69 and a beta of 0.91. The company’s 50 day moving average is $179.93 and its two-hundred day moving average is $179.30.

American Tower (NYSE:AMT) last announced 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. The firm had revenue of $2.74 billion for the quarter, compared to analyst estimates of $2.66 billion. American Tower had a net margin of 26.81% and a return on equity of 27.79%. The business’s quarterly revenue was up 6.8% compared to the same quarter last year. During the same period in the previous year, the company earned $2.75 earnings per share. 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 year.

American Tower Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 13th. Investors of record on Friday, June 12th will be given a $1.79 dividend. The ex-dividend date is Friday, June 12th. This represents a $7.16 dividend on an annualized basis and a yield of 4.3%. American Tower’s dividend payout ratio is currently 115.67%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on AMT. JPMorgan Chase & Co. decreased their target price on American Tower from $245.00 to $240.00 and set an “overweight” rating for the company in a research report on Wednesday, April 29th. Truist Financial upped their price target on shares of American Tower from $205.00 to $208.00 and gave the stock a “buy” rating in a report on Thursday, April 30th. Sanford C. Bernstein raised shares of American Tower from a “market perform” rating to an “outperform” rating and set a $207.00 price target on the stock in a research note on Tuesday, May 19th. Jefferies Financial Group boosted their price objective on shares of American Tower from $209.00 to $210.00 and gave the company a “buy” rating in a research report on Tuesday, April 14th. Finally, Citizens Jmp restated a “market outperform” rating and issued a $260.00 target price on shares of American Tower in a research note on Wednesday, April 29th. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, American Tower currently has a consensus rating of “Moderate Buy” and an average price target 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.