LGT Fund Management Co Ltd. Boosts Holdings in American Tower Corporation $AMT

LGT Fund Management Co Ltd. lifted its position in shares of American Tower Corporation (NYSE:AMT) by 359.2% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 64,986 shares of the real estate investment trust’s stock after buying an additional 50,834 shares during the period. LGT Fund Management Co Ltd.’s holdings in American Tower were worth $11,215,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the company. United Bank raised its position in American Tower by 9.0% in the first quarter. United Bank now owns 6,838 shares of the real estate investment trust’s stock valued at $1,180,000 after purchasing an additional 562 shares during the period. Diversify Wealth Management LLC increased its position in shares of American Tower by 179.9% during the 1st quarter. Diversify Wealth Management LLC now owns 8,186 shares of the real estate investment trust’s stock worth $1,459,000 after purchasing an additional 5,261 shares during the last quarter. Pittenger & Anderson Inc. raised its holdings in American Tower by 36.0% in the 1st quarter. Pittenger & Anderson Inc. now owns 4,550 shares of the real estate investment trust’s stock valued at $785,000 after buying an additional 1,205 shares during the period. UNIVEST FINANCIAL Corp raised its holdings in American Tower by 46.2% in the 1st quarter. UNIVEST FINANCIAL Corp now owns 65,143 shares of the real estate investment trust’s stock valued at $11,242,000 after buying an additional 20,585 shares during the period. Finally, 180 Wealth Advisors LLC lifted its position in American Tower by 2.2% in the first quarter. 180 Wealth Advisors LLC now owns 13,401 shares of the real estate investment trust’s stock valued at $2,313,000 after buying an additional 290 shares during the last quarter. Hedge funds and other institutional investors own 92.69% of the company’s stock.

American Tower Stock Up 2.2%

Shares of AMT stock traded up $3.69 during trading on Friday, reaching $168.69. The company’s stock had a trading volume of 2,458,176 shares, compared to its average volume of 3,439,682. American Tower Corporation has a 1-year low of $160.06 and a 1-year high of $234.33. The stock’s 50-day moving average price is $178.66 and its 200 day moving average price is $178.89. The company has a market capitalization of $78.59 billion, a price-to-earnings ratio of 27.25, a P/E/G 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 earnings results on Tuesday, April 28th. The real estate investment trust reported $2.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.60 by $1.24. American Tower had a net margin of 26.81% and a return on equity of 27.79%. The company had revenue of $2.74 billion for the quarter, compared to analyst estimates of $2.66 billion. During the same period in the prior year, the business earned $2.75 EPS. The firm’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. On average, research analysts anticipate that American Tower Corporation will post 10.66 EPS for the current year.

American Tower Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 13th. Investors of record on Friday, June 12th will be issued a $1.79 dividend. The ex-dividend date is Friday, June 12th. This represents a $7.16 dividend on an annualized basis and a yield of 4.2%. American Tower’s dividend payout ratio (DPR) is 115.67%.

Insider Transactions at American Tower

In related news, EVP Ruth T. Dowling sold 556 shares of the business’s stock in a transaction on Tuesday, April 28th. The stock was sold at an average price of $178.48, for a total transaction of $99,234.88. Following the completion of the transaction, the executive vice president directly owned 29,877 shares of the company’s stock, valued at $5,332,446.96. The trade was a 1.83% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.08% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on AMT. Scotiabank lifted their price target on shares of American Tower from $214.00 to $218.00 and gave the company an “outperform” rating in a research report on Wednesday, April 29th. Citizens Jmp reaffirmed a “market outperform” rating and set a $260.00 price objective on shares of American Tower in a research report on Wednesday, April 29th. The Goldman Sachs Group initiated coverage on shares of American Tower in a report on Friday, June 26th. They issued a “buy” rating and a $215.00 target price for the company. Truist Financial upped their price target on American Tower from $205.00 to $208.00 and gave the stock a “buy” rating in a research note on Thursday, April 30th. Finally, JPMorgan Chase & Co. lowered their price target on American Tower from $245.00 to $240.00 and set an “overweight” rating for the company in a research report on Wednesday, April 29th. One investment 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 company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $215.57.

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.