American Tower Corporation $AMT is Magellan Asset Management Ltd’s 7th Largest Position

Magellan Asset Management Ltd lifted its position in shares of American Tower Corporation (NYSE:AMT) by 40.3% during the 1st quarter, HoldingsChannel reports. The firm owned 1,503,296 shares of the real estate investment trust’s stock after acquiring an additional 431,517 shares during the period. American Tower accounts for about 3.4% of Magellan Asset Management Ltd’s investment portfolio, making the stock its 7th biggest holding. Magellan Asset Management Ltd’s holdings in American Tower were worth $259,439,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in AMT. J. Stern & Co. LLP lifted its position in American Tower by 28,121.1% during the fourth quarter. J. Stern & Co. LLP now owns 37,686,978 shares of the real estate investment trust’s stock valued at $6,616,703,000 after buying an additional 37,553,436 shares during the period. State Street Corp grew its position in shares of American Tower by 0.3% in the 4th quarter. State Street Corp now owns 20,987,534 shares of the real estate investment trust’s stock worth $3,719,634,000 after buying an additional 71,605 shares during the period. Geode Capital Management LLC grew its position in shares of American Tower by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 13,499,035 shares of the real estate investment trust’s stock worth $2,361,675,000 after buying an additional 227,361 shares during the period. Northwestern Mutual Wealth Management Co. increased its stake in shares of American Tower by 20,721.6% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 9,712,672 shares of the real estate investment trust’s stock worth $1,705,254,000 after acquiring an additional 9,666,025 shares in the last quarter. Finally, Invesco Ltd. increased its stake in shares of American Tower by 0.9% in the 4th quarter. Invesco Ltd. now owns 6,948,190 shares of the real estate investment trust’s stock worth $1,219,894,000 after acquiring an additional 59,557 shares in the last quarter. Institutional investors own 92.69% of the company’s stock.

Insider Buying and Selling at American Tower

In related news, EVP Ruth T. Dowling sold 416 shares of the firm’s 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 completion of the sale, the executive vice president owned 29,461 shares of the company’s stock, valued at $5,230,505.94. This trade represents a 1.39% decrease in their ownership of the stock. The sale was disclosed in a legal filing 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. 0.08% of the stock is owned by company insiders.

American Tower Stock Performance

Shares of American Tower stock opened at $163.19 on Wednesday. American Tower Corporation has a 1 year low of $160.06 and a 1 year high of $234.33. The firm’s 50-day moving average is $177.12 and its 200 day moving average is $178.57. The stock has a market cap of $76.03 billion, a price-to-earnings ratio of 26.36, a PEG ratio of 0.70 and a beta of 0.91. The company has a debt-to-equity ratio of 3.07, a current ratio of 0.43 and a quick ratio of 0.43.

American Tower (NYSE:AMT) last released its quarterly earnings data on Tuesday, April 28th. The real estate investment trust reported $2.84 earnings per share for the quarter, beating analysts’ consensus estimates of $1.60 by $1.24. The business had revenue of $2.74 billion during the quarter, compared to analyst estimates of $2.66 billion. American Tower had a net margin of 26.81% and a return on equity of 27.79%. American Tower’s revenue was up 6.8% compared to the same quarter last year. During the same period last year, the business earned $2.75 EPS. American Tower has set its FY 2026 guidance at 10.900-11.07 EPS. Sell-side analysts anticipate that American Tower Corporation will post 10.66 EPS for the current fiscal year.

American Tower Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, July 13th. Stockholders of record on Friday, June 12th were issued 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 4.4%. American Tower’s dividend payout ratio is presently 115.67%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Scotiabank boosted their price objective on shares of American Tower from $214.00 to $218.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 29th. Raymond James Financial reaffirmed a “strong-buy” rating and set a $240.00 target price on shares of American Tower in a research note on Wednesday, April 29th. 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 report on Thursday, April 16th. Sanford C. Bernstein upgraded American Tower from a “market perform” rating to an “outperform” rating and set a $207.00 price target on the stock in a research note on Tuesday, May 19th. Finally, Truist Financial raised their price objective on American Tower from $205.00 to $208.00 and gave the company a “buy” rating in a research report on Thursday, April 30th. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $215.57.

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.