American Tower Corporation $AMT Stock Holdings Lifted by Sumitomo Mitsui DS Asset Management Company Ltd

Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in American Tower Corporation (NYSE:AMT) by 6.3% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 73,717 shares of the real estate investment trust’s stock after acquiring an additional 4,400 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in American Tower were worth $12,666,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Operose Advisors LLC purchased a new position in shares of American Tower during the 2nd quarter worth $25,000. Allied Private Wealth LLC acquired a new stake in shares of American Tower during the 2nd quarter worth about $29,000. Mowery & Schoenfeld Wealth Management LLC purchased a new stake in American Tower in the 2nd quarter valued at about $33,000. Cache Advisors LLC purchased a new stake in American Tower in the 1st quarter valued at about $38,000. Finally, Kelleher Financial Advisors purchased a new stake in American Tower in the 2nd quarter valued at about $37,000. Institutional investors and hedge funds own 92.69% of the company’s stock.

American Tower Trading Up 0.2%

AMT opened at $183.38 on Wednesday. American Tower Corporation has a 52 week low of $160.06 and a 52 week high of $196.08. The business has a fifty day simple moving average of $174.13 and a 200-day simple moving average of $175.55. The firm has a market cap of $85.45 billion, a P/E ratio of 25.22, a P/E/G ratio of 2.94 and a beta of 0.88. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 3.12.

American Tower (NYSE:AMT) last issued its quarterly earnings data on Tuesday, July 28th. The real estate investment trust reported $2.71 earnings per share for the quarter, beating analysts’ consensus estimates of $1.57 by $1.14. The business had revenue of $2.75 billion during the quarter, compared to analysts’ expectations of $2.70 billion. American Tower had a return on equity of 32.76% and a net margin of 31.08%. The company’s revenue was up 4.6% on a year-over-year basis. During the same period in the previous year, the firm posted $2.60 earnings per share. American Tower has set its FY 2026 guidance at 11.000-11.170 EPS. On average, equities analysts expect that American Tower Corporation will post 10.80 earnings per share for the current year.

American Tower Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 20th. Investors of record on Wednesday, September 30th were issued a dividend of $1.79 per share. This represents a $7.16 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date was Wednesday, September 30th. American Tower’s dividend payout ratio (DPR) is 98.49%.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Barclays upped their target price on shares of American Tower from $198.00 to $199.00 and gave the company an “overweight” rating in a research report on Wednesday, September 30th. Jefferies Financial Group dropped their price target on shares of American Tower from $210.00 to $201.00 and set a “buy” rating for the company in a research report on Wednesday, July 15th. The Goldman Sachs Group set a $210.00 price target on shares of American Tower in a research report on Tuesday, July 28th. BMO Capital Markets boosted their price target on shares of American Tower from $190.00 to $195.00 and gave the company a “market perform” rating in a research note on Wednesday, July 29th. Finally, Royal Bank Of Canada upgraded shares of American Tower from a “sector perform” rating to an “outperform” rating and upped their price objective for the stock from $195.00 to $205.00 in a report on Friday, June 26th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, American Tower has a consensus rating of “Moderate Buy” and a consensus target price of $214.90.

Insider Buying and Selling at American Tower

In other news, EVP Ruth T. Dowling sold 1,106 shares of the stock in a transaction dated Wednesday, July 29th. The shares were sold at an average price of $174.96, for a total transaction of $193,505.76. Following the sale, the executive vice president owned 27,711 shares of the company’s stock, valued at approximately $4,848,316.56. This represents a 3.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Rajesh Kalathur purchased 2,829 shares of American Tower stock in a transaction dated Friday, August 21st. The shares were acquired at an average cost of $177.00 per share, for a total transaction of $500,733.00. Following the transaction, the director directly owned 7,765 shares of the company’s stock, valued at approximately $1,374,405. This represents a 57.31% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders sold a total of 6,791 shares of company stock valued at $1,204,091 in the last three months. 0.08% of the stock is owned by corporate insiders.

About American Tower

American Tower Corporation (NYSE:AMT) is a real estate investment trust that owns, operates and develops wireless communications infrastructure. Its portfolio primarily includes communications towers, rooftop sites, distributed antenna systems and other infrastructure used by wireless carriers, broadcasters, governments and businesses to support voice, data and video communications.

The company leases space on its sites to multiple customers, allowing them to install antennas and related equipment without building and maintaining individual tower locations.