Norges Bank Makes New $1.17 Billion Investment in American Tower Corporation $AMT

Norges Bank acquired a new stake in shares of American Tower Corporation (NYSE:AMT) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 6,670,729 shares of the real estate investment trust’s stock, valued at approximately $1,171,180,000.

A number of other large investors have also made changes to their positions in the stock. Mirae Asset Global Investments Co. Ltd. raised its position in American Tower by 8.9% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 96,793 shares of the real estate investment trust’s stock worth $18,615,000 after purchasing an additional 7,872 shares in the last quarter. Krilogy Financial LLC acquired a new position in American Tower in the third quarter worth about $1,044,000. Machina Capital S.A.S. acquired a new position in American Tower in the third quarter worth about $2,871,000. National Pension Service raised its position in American Tower by 2.5% in the third quarter. National Pension Service now owns 1,240,270 shares of the real estate investment trust’s stock worth $238,529,000 after purchasing an additional 30,368 shares in the last quarter. Finally, ABC Arbitrage SA acquired a new position in American Tower in the third quarter worth about $4,093,000. Institutional investors and hedge funds own 92.69% of the company’s stock.

Insiders Place Their Bets

In related news, Director Rajesh Kalathur purchased 2,671 shares of the firm’s stock in a transaction dated Tuesday, March 10th. The shares were acquired at an average cost of $185.30 per share, with a total value of $494,936.30. Following the completion of the purchase, the director directly owned 4,936 shares of the company’s stock, valued at $914,640.80. This trade represents a 117.92% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Ruth T. Dowling sold 416 shares of the stock in a transaction that occurred on Wednesday, April 29th. The shares were sold at an average price of $177.54, for a total transaction of $73,856.64. Following the sale, the executive vice president directly owned 29,461 shares in the company, valued at $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. Over the last ninety days, insiders have sold 42,181 shares of company stock valued at $8,046,071. 0.08% of the stock is currently owned by insiders.

American Tower Price Performance

Shares of American Tower stock opened at $186.87 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. The stock has a market capitalization of $87.06 billion, a price-to-earnings ratio of 30.19, a P/E/G ratio of 0.78 and a beta of 0.90. American Tower Corporation has a 1-year low of $165.08 and a 1-year high of $234.33. The firm’s 50-day moving average price is $177.67 and its two-hundred day moving average price is $179.37.

American Tower (NYSE:AMT) last issued 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. The firm had revenue of $2.74 billion for the quarter, compared to analysts’ expectations of $2.66 billion. American Tower had a net margin of 26.81% and a return on equity of 27.79%. The company’s quarterly revenue was up 6.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.75 earnings per share. American Tower has set its FY 2026 guidance at 10.900-11.07 EPS. On average, equities analysts predict that American Tower Corporation will post 10.67 earnings per share for the current fiscal year.

American Tower Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 13th. Shareholders of record on Friday, June 12th will be paid a dividend of $1.79 per share. This represents a $7.16 annualized dividend and a yield of 3.8%. The ex-dividend date of this dividend is Friday, June 12th. American Tower’s dividend payout ratio is currently 115.67%.

Wall Street Analysts Forecast Growth

AMT has been the subject of several recent research reports. Jefferies Financial Group increased their price target on shares of American Tower from $209.00 to $210.00 and gave the stock a “buy” rating in a research report on Tuesday, April 14th. Sanford C. Bernstein raised shares of American Tower from a “market perform” rating to an “outperform” rating and set a $207.00 price target for the company in a research report on Tuesday, May 19th. Truist Financial increased their price target on shares of American Tower from $205.00 to $208.00 and gave the stock a “buy” rating in a research report on Thursday, April 30th. Scotiabank increased their price target on shares of American Tower from $214.00 to $218.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 29th. Finally, Raymond James Financial reissued a “strong-buy” rating and issued a $240.00 price target on shares of American Tower in a research report on Wednesday, April 29th. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $216.20.

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.