American Tower Corporation $AMT Shares Acquired by Gabelli Funds LLC

Gabelli Funds LLC boosted its position in American Tower Corporation (NYSE:AMT) by 5.9% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 114,390 shares of the real estate investment trust’s stock after purchasing an additional 6,350 shares during the period. Gabelli Funds LLC’s holdings in American Tower were worth $19,741,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the company. Klingman & Associates LLC acquired a new stake in American Tower in the 1st quarter valued at about $207,000. Modern Wealth Management LLC acquired a new position in American Tower during the first quarter worth about $458,000. Bank of Nova Scotia lifted its holdings in shares of American Tower by 30.2% in the first quarter. Bank of Nova Scotia now owns 141,742 shares of the real estate investment trust’s stock valued at $24,462,000 after purchasing an additional 32,897 shares in the last quarter. Gibbs Wealth Management increased its stake in shares of American Tower by 102.7% during the 1st quarter. Gibbs Wealth Management now owns 11,956 shares of the real estate investment trust’s stock worth $2,063,000 after purchasing an additional 6,057 shares in the last quarter. Finally, Sei Investments Co. raised its position in shares of American Tower by 8.0% during the 1st quarter. Sei Investments Co. now owns 867,418 shares of the real estate investment trust’s stock worth $149,704,000 after purchasing an additional 63,924 shares during the last quarter. 92.69% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on AMT. Mizuho raised American Tower from a “neutral” rating to an “outperform” rating and upped their target price for the company from $189.00 to $205.00 in a research note on Wednesday, April 15th. Raymond James Financial restated a “strong-buy” rating and issued a $240.00 price objective on shares of American Tower in a research report on Wednesday, April 29th. Wolfe Research raised American Tower from a “peer perform” rating to an “outperform” rating and set a $188.00 price objective on the stock in a research note on Wednesday, July 8th. Royal Bank Of Canada upgraded American Tower from a “sector perform” rating to an “outperform” rating and lifted their price objective for the stock from $195.00 to $205.00 in a research report on Friday, June 26th. Finally, Citizens Jmp reissued a “market outperform” rating and issued a $260.00 target price on shares of American Tower in a research note on Wednesday, April 29th. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, American Tower currently has an average rating of “Moderate Buy” and a consensus target price of $215.57.

Insider Activity

In other news, EVP Ruth T. Dowling sold 416 shares of the stock in a transaction dated Wednesday, April 29th. The stock was sold at an average price of $177.54, for a total value of $73,856.64. Following the completion of the sale, the executive vice president owned 29,461 shares in the company, valued at approximately $5,230,505.94. This trade represents a 1.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.08% of the company’s stock.

American Tower Price Performance

American Tower stock opened at $166.66 on Friday. American Tower Corporation has a 52-week low of $160.06 and a 52-week high of $231.54. The firm has a fifty day moving average of $176.77 and a 200-day moving average of $178.35. The firm has a market capitalization of $77.65 billion, a P/E ratio of 26.92, a PEG ratio of 0.70 and a beta of 0.91. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 3.07.

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

American Tower Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, July 13th. Stockholders of record on Friday, June 12th were given a $1.79 dividend. The ex-dividend date of this dividend was Friday, June 12th. This represents a $7.16 annualized dividend and a dividend yield of 4.3%. American Tower’s dividend payout ratio is presently 115.67%.

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.