Legal & General Group Plc Buys 159,223 Shares of American Tower Corporation $AMT

Legal & General Group Plc boosted its position in shares of American Tower Corporation (NYSE:AMT) by 3.5% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,653,248 shares of the real estate investment trust’s stock after purchasing an additional 159,223 shares during the quarter. Legal & General Group Plc owned about 0.99% of American Tower worth $894,913,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of AMT. Abound Wealth Management increased its stake in shares of American Tower by 137.3% during the third quarter. Abound Wealth Management now owns 140 shares of the real estate investment trust’s stock valued at $27,000 after buying an additional 81 shares during the period. Root Financial Partners LLC purchased a new stake in American Tower in the third quarter worth about $32,000. Physician Wealth Advisors Inc. lifted its stake in American Tower by 85.9% in the third quarter. Physician Wealth Advisors Inc. now owns 171 shares of the real estate investment trust’s stock worth $33,000 after acquiring an additional 79 shares during the period. Westside Investment Management Inc. grew its holdings in American Tower by 103.6% during the 3rd quarter. Westside Investment Management Inc. now owns 169 shares of the real estate investment trust’s stock worth $33,000 after acquiring an additional 86 shares in the last quarter. Finally, VSM Wealth Advisory LLC increased its position in American Tower by 136.4% during the 2nd quarter. VSM Wealth Advisory LLC now owns 156 shares of the real estate investment trust’s stock valued at $34,000 after purchasing an additional 90 shares during the period. 92.69% of the stock is owned by institutional investors.

Insider Activity

In other news, COO Eugene M. Noel sold 41,209 shares of American Tower stock in a transaction that occurred on 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 sale, the chief operating officer directly owned 29,592 shares of the company’s stock, valued at $5,653,551.60. The trade was a 58.20% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.18% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on AMT shares. The Goldman Sachs Group cut their price objective on shares of American Tower from $230.00 to $210.00 and set a “buy” rating on the stock in a research report on Friday, January 16th. Scotiabank cut their price target on American Tower from $220.00 to $214.00 and set a “sector outperform” rating on the stock in a research report on Wednesday, February 25th. TD Cowen decreased their price objective on American Tower from $235.00 to $225.00 in a report on Wednesday, February 25th. Royal Bank Of Canada reduced their price target on American Tower from $220.00 to $195.00 and set a “sector perform” rating for the company in a research report on Monday, January 12th. Finally, Barclays reaffirmed an “equal weight” rating and set a $200.00 price objective (down from $203.00) on shares of American Tower in a research note on Monday, December 1st. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $217.35.

American Tower Stock Performance

AMT opened at $186.45 on Tuesday. The firm’s fifty day simple moving average is $180.81 and its two-hundred day simple moving average is $184.66. American Tower Corporation has a 52-week low of $166.88 and a 52-week high of $234.33. The company has a market cap of $86.90 billion, a price-to-earnings ratio of 34.59, a PEG ratio of 0.79 and a beta of 0.92. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 3.27.

American Tower (NYSE:AMT) last released its earnings results on Tuesday, February 24th. The real estate investment trust reported $1.75 EPS for the quarter, missing analysts’ consensus estimates of $2.54 by ($0.79). American Tower had a return on equity of 24.36% and a net margin of 23.76%.The company had revenue of $2.74 billion for the quarter, compared to analysts’ expectations of $2.69 billion. During the same period in the prior year, the firm earned $2.62 EPS. The firm’s revenue for the quarter was up 7.5% on a year-over-year basis. American Tower has set its FY 2026 guidance at 10.780-10.950 EPS. Equities analysts anticipate that American Tower Corporation will post 10.14 earnings per share for the current fiscal year.

American Tower Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 28th. Stockholders of record on Tuesday, April 14th will be given a $1.79 dividend. This represents a $7.16 annualized dividend and a dividend yield of 3.8%. This is a boost from American Tower’s previous quarterly dividend of $1.70. The ex-dividend date is Tuesday, April 14th. American Tower’s dividend payout ratio (DPR) is 126.16%.

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.