Pallas Capital Advisors LLC Buys New Position in American Tower Corporation $AMT

Pallas Capital Advisors LLC purchased a new stake in American Tower Corporation (NYSE:AMT) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 7,631 shares of the real estate investment trust’s stock, valued at approximately $1,248,000.

A number of other large investors have also modified their holdings of the business. Raleigh Capital Management Inc. lifted its stake in shares of American Tower by 489.1% during the first quarter. Raleigh Capital Management Inc. now owns 13,703 shares of the real estate investment trust’s stock worth $2,365,000 after buying an additional 11,377 shares during the period. Canal Capital Management LLC increased its position in shares of American Tower by 81.9% in the 1st quarter. Canal Capital Management LLC now owns 34,471 shares of the real estate investment trust’s stock valued at $5,949,000 after acquiring an additional 15,520 shares during the period. Bernzott Capital Advisors increased its position in shares of American Tower by 29.3% in the 1st quarter. Bernzott Capital Advisors now owns 42,161 shares of the real estate investment trust’s stock valued at $7,276,000 after acquiring an additional 9,556 shares during the period. Legal & General Group Plc raised its stake in American Tower by 4.7% in the 4th quarter. Legal & General Group Plc now owns 4,873,695 shares of the real estate investment trust’s stock worth $855,675,000 after acquiring an additional 220,447 shares during the last quarter. Finally, Swiss Life Asset Management Ltd lifted its position in American Tower by 13.9% during the 4th quarter. Swiss Life Asset Management Ltd now owns 101,993 shares of the real estate investment trust’s stock worth $17,907,000 after acquiring an additional 12,464 shares during the period. Hedge funds and other institutional investors own 92.69% of the company’s stock.

American Tower Stock Performance

AMT opened at $172.45 on Wednesday. The company has a debt-to-equity ratio of 3.12, a current ratio of 0.52 and a quick ratio of 0.52. The firm has a fifty day moving average price of $172.11 and a 200 day moving average price of $177.84. American Tower Corporation has a 1 year low of $160.06 and a 1 year high of $214.79. The stock has a market cap of $80.35 billion, a P/E ratio of 23.72, a P/E/G ratio of 2.79 and a beta of 0.90.

American Tower (NYSE:AMT) last released its quarterly earnings results on Tuesday, July 28th. The real estate investment trust reported $2.71 EPS for the quarter, beating the consensus estimate of $1.57 by $1.14. American Tower had a net margin of 31.08% and a return on equity of 32.76%. The company had revenue of $2.75 billion for the quarter, compared to analyst estimates of $2.70 billion. During the same quarter last year, the business earned $2.60 earnings per share. The firm’s revenue was up 4.6% on a year-over-year basis. American Tower has set its FY 2026 guidance at 11.000-11.170 EPS. Equities research analysts anticipate that American Tower Corporation will post 10.78 earnings per share for the current year.

American Tower Announces Dividend

The firm also recently announced 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 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 98.49%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on AMT. Scotiabank reissued an “outperform” rating on shares of American Tower in a report on Wednesday, July 29th. Truist Financial reiterated a “buy” rating and issued a $207.00 target price (down from $208.00) on shares of American Tower in a research report on Wednesday, August 12th. Royal Bank Of Canada upgraded shares of American Tower from a “sector perform” rating to an “outperform” rating and increased their price target for the stock from $195.00 to $205.00 in a report on Friday, June 26th. TD Cowen raised their price target on shares of American Tower from $225.00 to $227.00 and gave the stock a “buy” rating in a research report on Wednesday, July 29th. Finally, Sanford C. Bernstein restated an “outperform” rating and set a $214.00 price objective on shares of American Tower in a research note on Wednesday, July 29th. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, American Tower has a consensus rating of “Moderate Buy” and an average price target of $215.14.

Insider Activity

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

American Tower Company 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.