Cibc World Market Inc. Buys 70,348 Shares of American Tower Corporation $AMT

Cibc World Market Inc. increased its stake in shares of American Tower Corporation (NYSE:AMT) by 27.9% during the 4th quarter, HoldingsChannel.com reports. The firm owned 322,815 shares of the real estate investment trust’s stock after purchasing an additional 70,348 shares during the quarter. Cibc World Market Inc.’s holdings in American Tower were worth $56,677,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Brighton Jones LLC increased its position in American Tower by 113.0% during the fourth quarter. Brighton Jones LLC now owns 3,966 shares of the real estate investment trust’s stock valued at $727,000 after acquiring an additional 2,104 shares during the last quarter. Sivia Capital Partners LLC lifted its holdings in shares of American Tower by 34.3% in the 2nd quarter. Sivia Capital Partners LLC now owns 1,442 shares of the real estate investment trust’s stock worth $319,000 after acquiring an additional 368 shares during the last quarter. United Bank boosted its stake in shares of American Tower by 12.7% during the 2nd quarter. United Bank now owns 6,488 shares of the real estate investment trust’s stock worth $1,434,000 after purchasing an additional 733 shares during the period. Treasurer of the State of North Carolina grew its holdings in American Tower by 2.2% during the 2nd quarter. Treasurer of the State of North Carolina now owns 218,511 shares of the real estate investment trust’s stock valued at $48,295,000 after purchasing an additional 4,778 shares during the last quarter. Finally, Ieq Capital LLC raised its position in American Tower by 52.2% in the 2nd quarter. Ieq Capital LLC now owns 34,248 shares of the real estate investment trust’s stock worth $7,570,000 after purchasing an additional 11,751 shares during the period. Hedge funds and other institutional investors own 92.69% of the company’s stock.

American Tower Trading Up 6.6%

AMT opened at $194.34 on Friday. 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 stock’s fifty day moving average is $178.55 and its two-hundred day moving average is $179.48. The company has a market capitalization of $90.54 billion, a P/E ratio of 31.40, a PEG ratio of 0.76 and a beta of 0.90. American Tower Corporation has a 52 week low of $165.08 and a 52 week high of $234.33.

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

American Tower Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 13th. Shareholders of record on Friday, June 12th will be issued a dividend of $1.79 per share. This represents a $7.16 annualized dividend and a yield of 3.7%. The ex-dividend date is Friday, June 12th. American Tower’s dividend payout ratio is presently 115.67%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on AMT shares. Citizens Jmp restated a “market outperform” rating and set a $260.00 target price on shares of American Tower in a research report on Wednesday, April 29th. Raymond James Financial restated a “strong-buy” rating and set a $240.00 price objective on shares of American Tower in a report on Wednesday, April 29th. Morgan Stanley reduced their target price on American Tower from $225.00 to $220.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 25th. Barclays lowered their target price on shares of American Tower from $200.00 to $195.00 and set an “equal weight” rating for the company in a research note on Thursday, April 16th. Finally, Truist Financial raised their price target on shares of American Tower from $205.00 to $208.00 and gave the stock a “buy” rating in a research note on Thursday, April 30th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $216.20.

Insider Transactions at American Tower

In other American Tower news, Director Rajesh Kalathur acquired 2,671 shares of the company’s stock in a transaction dated Tuesday, March 10th. The shares were purchased at an average cost of $185.30 per share, for a total transaction of $494,936.30. Following the completion of the purchase, the director owned 4,936 shares in the company, valued at approximately $914,640.80. This trade represents a 117.92% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Ruth T. Dowling sold 556 shares of American Tower 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 transaction, the executive vice president directly owned 29,877 shares in the company, valued at approximately $5,332,446.96. The trade was a 1.83% 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. Company insiders own 0.08% of the company’s stock.

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.