Raleigh Capital Management Inc. Grows Stake in American Tower Corporation $AMT

Raleigh Capital Management Inc. increased its position in shares of American Tower Corporation (NYSE:AMT) by 489.1% in the 1st quarter, HoldingsChannel.com reports. The firm owned 13,703 shares of the real estate investment trust’s stock after acquiring an additional 11,377 shares during the period. Raleigh Capital Management Inc.’s holdings in American Tower were worth $2,365,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. CIBC Bancorp USA Inc. purchased a new stake in shares of American Tower in the 3rd quarter worth about $35,633,000. Nordea Investment Management AB increased its holdings in American Tower by 10.4% during the 4th quarter. Nordea Investment Management AB now owns 1,743,321 shares of the real estate investment trust’s stock valued at $306,284,000 after acquiring an additional 164,645 shares in the last quarter. Legal & General Group Plc increased its holdings in American Tower by 4.7% during the 4th quarter. Legal & General Group Plc now owns 4,873,695 shares of the real estate investment trust’s stock valued at $855,675,000 after acquiring an additional 220,447 shares in the last quarter. Rathbones Group PLC raised its position in American Tower by 14.9% during the fourth quarter. Rathbones Group PLC now owns 474,216 shares of the real estate investment trust’s stock worth $83,258,000 after acquiring an additional 61,428 shares during the last quarter. Finally, Merit Financial Group LLC raised its position in American Tower by 60.6% during the fourth quarter. Merit Financial Group LLC now owns 23,212 shares of the real estate investment trust’s stock worth $4,075,000 after acquiring an additional 8,758 shares during the last quarter. 92.69% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, EVP Ruth T. Dowling sold 556 shares of the company’s stock in a transaction on Tuesday, April 28th. The stock was sold at an average price of $178.48, for a total value of $99,234.88. Following the completion of the transaction, the executive vice president directly owned 29,877 shares in the company, valued at approximately $5,332,446.96. This represents a 1.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.08% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently commented on AMT shares. Barclays lowered their price target on shares of American Tower from $200.00 to $195.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 16th. Mizuho upgraded American Tower from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $189.00 to $205.00 in a research report on Wednesday, April 15th. JPMorgan Chase & Co. reduced their target price on American Tower from $245.00 to $240.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 29th. Royal Bank Of Canada upgraded American Tower from a “sector perform” rating to an “outperform” rating and increased their target price for the company from $195.00 to $205.00 in a report on Friday, June 26th. Finally, Truist Financial raised their price target on American Tower from $205.00 to $208.00 and gave the stock a “buy” rating in a research report on Thursday, April 30th. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and four have given 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 Price Performance

American Tower stock opened at $165.84 on Friday. The stock has a market capitalization of $77.27 billion, a P/E ratio of 26.79, a P/E/G ratio of 0.69 and a beta of 0.91. American Tower Corporation has a 12-month low of $162.27 and a 12-month high of $234.33. The company has a debt-to-equity ratio of 3.07, a current ratio of 0.43 and a quick ratio of 0.43. The firm’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 (EPS) for the quarter, beating the consensus estimate of $1.60 by $1.24. The business had revenue of $2.74 billion for the quarter, compared to the consensus estimate 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 quarter in the prior year, the firm posted $2.75 earnings per share. American Tower has set its FY 2026 guidance at 10.900-11.07 EPS. Equities analysts predict that American Tower Corporation will post 10.66 earnings per share for the current year.

American Tower Announces Dividend

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

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.