Plato Investment Management Ltd Boosts Stake in American Tower Corporation $AMT

Plato Investment Management Ltd lifted its stake in American Tower Corporation (NYSE:AMT) by 22.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,802 shares of the real estate investment trust’s stock after purchasing an additional 2,875 shares during the period. Plato Investment Management Ltd’s holdings in American Tower were worth $2,788,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of the business. Lazard Asset Management LLC raised its holdings in American Tower by 1,984.8% during the third quarter. Lazard Asset Management LLC now owns 4,464,382 shares of the real estate investment trust’s stock valued at $858,552,000 after acquiring an additional 4,250,242 shares during the period. Viking Global Investors LP raised its holdings in American Tower by 233.5% during the second quarter. Viking Global Investors LP now owns 2,797,125 shares of the real estate investment trust’s stock valued at $618,221,000 after acquiring an additional 1,958,329 shares during the period. Barrow Hanley Mewhinney & Strauss LLC bought a new stake in American Tower during the third quarter valued at about $305,872,000. Arrowstreet Capital Limited Partnership raised its holdings in American Tower by 35.0% during the third quarter. Arrowstreet Capital Limited Partnership now owns 2,796,007 shares of the real estate investment trust’s stock valued at $537,728,000 after acquiring an additional 724,504 shares during the period. Finally, Two Sigma Investments LP raised its holdings in American Tower by 733.1% during the third quarter. Two Sigma Investments LP now owns 804,761 shares of the real estate investment trust’s stock valued at $154,772,000 after acquiring an additional 708,158 shares during the period. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Analyst Ratings Changes

AMT has been the topic of a number of recent analyst reports. Mizuho raised American Tower from a “neutral” rating to an “outperform” rating and raised their price target for the company from $189.00 to $205.00 in a report on Wednesday, April 15th. The Goldman Sachs Group cut their price objective on American Tower from $230.00 to $210.00 and set a “buy” rating for the company in a research report on Friday, January 16th. 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. Barclays cut their price objective on American Tower from $200.00 to $195.00 and set an “equal weight” rating for the company in a research report on Thursday, April 16th. Finally, Weiss Ratings lowered American Tower from a “hold (c)” rating to a “hold (c-)” rating in a research report on Monday, April 27th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat, American Tower presently has a consensus rating of “Moderate Buy” and an average target price of $218.05.

Insider Buying and Selling

In related news, COO Eugene M. Noel sold 41,209 shares of American Tower stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $191.05, for a total value of $7,872,979.45. Following the completion of the transaction, the chief operating officer owned 29,592 shares in the company, valued at approximately $5,653,551.60. This trade represents a 58.20% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Rajesh Kalathur purchased 2,671 shares of the company’s stock in a transaction that occurred on Tuesday, March 10th. The stock was bought at an average price of $185.30 per share, with a total value of $494,936.30. Following the transaction, the director owned 4,936 shares of the company’s stock, valued at $914,640.80. This represents a 117.92% increase in their position. The SEC filing for this purchase provides additional information. Over the last quarter, insiders sold 42,181 shares of company stock worth $8,046,071. Corporate insiders own 0.08% of the company’s stock.

American Tower Trading Down 1.8%

Shares of American Tower stock opened at $176.45 on Friday. The firm has a market cap of $82.24 billion, a price-to-earnings ratio of 28.51, a PEG ratio of 0.74 and a beta of 0.90. The business has a 50-day moving average price of $179.45 and a 200-day moving average price of $179.74. 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 Corporation has a twelve month low of $165.08 and a twelve month high of $234.33.

American Tower (NYSE:AMT) last released its quarterly earnings results on Tuesday, April 28th. The real estate investment trust reported $2.84 EPS for the quarter, topping the consensus estimate of $1.60 by $1.24. The company had revenue of $2.74 billion during the quarter, compared to analyst estimates of $2.66 billion. American Tower had a return on equity of 27.79% and a net margin of 26.81%.The firm’s revenue was up 6.8% on a year-over-year basis. During the same quarter last year, the business posted $2.75 earnings per share. American Tower has set its FY 2026 guidance at 10.900-11.07 EPS. Equities research analysts anticipate that American Tower Corporation will post 10.67 EPS for the current fiscal year.

American Tower Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 28th. Investors of record on Tuesday, April 14th were given a $1.79 dividend. This is an increase from American Tower’s previous quarterly dividend of $1.70. This represents a $7.16 annualized dividend and a yield of 4.1%. The ex-dividend date was Tuesday, April 14th. American Tower’s dividend payout ratio (DPR) is 115.67%.

American Tower 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.