Van ECK Associates Corp Raises Holdings in American Tower Corporation $AMT

Van ECK Associates Corp boosted its stake in American Tower Corporation (NYSE:AMT) by 12.6% during the third quarter, Holdings Channel.com reports. The institutional investor owned 166,297 shares of the real estate investment trust’s stock after acquiring an additional 18,656 shares during the period. Van ECK Associates Corp’s holdings in American Tower were worth $31,982,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the stock. Abound Wealth Management lifted its position in shares of American Tower by 137.3% in the third quarter. Abound Wealth Management now owns 140 shares of the real estate investment trust’s stock valued at $27,000 after acquiring an additional 81 shares in the last quarter. 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 worth $34,000 after purchasing an additional 90 shares in the last quarter. Root Financial Partners LLC acquired a new position in American Tower in the 3rd quarter valued at about $32,000. Westside Investment Management Inc. lifted its holdings in American Tower by 103.6% in the 3rd quarter. Westside Investment Management Inc. now owns 169 shares of the real estate investment trust’s stock valued at $33,000 after purchasing an additional 86 shares in the last quarter. Finally, Physician Wealth Advisors Inc. boosted its stake in shares of American Tower by 85.9% during the 3rd quarter. Physician Wealth Advisors Inc. now owns 171 shares of the real estate investment trust’s stock worth $33,000 after purchasing an additional 79 shares during the last quarter. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Insider Transactions at American Tower

In related news, COO Eugene M. Noel sold 41,209 shares of the stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $191.05, for a total transaction of $7,872,979.45. Following the completion of the sale, the chief operating officer owned 29,592 shares of the company’s stock, valued at approximately $5,653,551.60. This represents a 58.20% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.17% of the company’s stock.

American Tower Stock Performance

NYSE:AMT opened at $182.82 on Thursday. The company has a market cap of $85.21 billion, a P/E ratio of 33.92, a P/E/G ratio of 0.78 and a beta of 0.92. The firm’s 50 day moving average is $181.14 and its two-hundred day moving average is $184.47. American Tower Corporation has a fifty-two week low of $166.88 and a fifty-two week high of $234.33. 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 quarterly earnings data 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). The firm had revenue of $2.74 billion for the quarter, compared to analyst estimates of $2.69 billion. American Tower had a return on equity of 24.36% and a net margin of 23.76%.The company’s quarterly revenue was up 7.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.62 earnings per share. American Tower has set its FY 2026 guidance at 10.780-10.950 EPS. Analysts expect that American Tower Corporation will post 10.14 EPS for the current year.

American Tower Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 28th. Stockholders of record on Tuesday, April 14th will be paid a $1.79 dividend. The ex-dividend date of this dividend is Tuesday, April 14th. This represents a $7.16 annualized dividend and a dividend yield of 3.9%. This is an increase from American Tower’s previous quarterly dividend of $1.70. American Tower’s dividend payout ratio is presently 132.84%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on AMT. BMO Capital Markets boosted their price objective on shares of American Tower from $185.00 to $200.00 and gave the company a “market perform” rating in a research report on Wednesday, February 25th. Scotiabank lowered their target price on shares of American Tower from $220.00 to $214.00 and set a “sector outperform” rating for the company in a research note on Wednesday, February 25th. TD Cowen cut their price target on American Tower from $235.00 to $225.00 in a report on Wednesday, February 25th. Sanford C. Bernstein started coverage on American Tower in a report on Thursday, March 5th. They set a “market perform” rating and a $205.00 price objective on the stock. Finally, JPMorgan Chase & Co. reduced their target price on American Tower from $250.00 to $245.00 and set an “overweight” rating on the stock in a research report on Monday, January 12th. One investment 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. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $217.35.

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.