Bamco Inc. NY Lowers Position in American Tower Corporation $AMT

Bamco Inc. NY trimmed its holdings in shares of American Tower Corporation (NYSE:AMT) by 5.9% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 534,053 shares of the real estate investment trust’s stock after selling 33,714 shares during the period. Bamco Inc. NY’s holdings in American Tower were worth $102,709,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. YANKCOM Partnership raised its holdings in shares of American Tower by 2.9% in the 2nd quarter. YANKCOM Partnership now owns 1,729 shares of the real estate investment trust’s stock valued at $382,000 after acquiring an additional 49 shares in the last quarter. Manchester Capital Management LLC grew its holdings in shares of American Tower by 3.1% during the second quarter. Manchester Capital Management LLC now owns 1,808 shares of the real estate investment trust’s stock worth $400,000 after purchasing an additional 54 shares in the last quarter. Johnson Financial Group Inc. increased its position in shares of American Tower by 7.1% in the second quarter. Johnson Financial Group Inc. now owns 833 shares of the real estate investment trust’s stock worth $186,000 after purchasing an additional 55 shares during the last quarter. SOA Wealth Advisors LLC. increased its position in shares of American Tower by 36.7% in the third quarter. SOA Wealth Advisors LLC. now owns 205 shares of the real estate investment trust’s stock worth $39,000 after purchasing an additional 55 shares during the last quarter. Finally, Pines Wealth Management LLC raised its stake in American Tower by 4.1% in the third quarter. Pines Wealth Management LLC now owns 1,488 shares of the real estate investment trust’s stock valued at $286,000 after purchasing an additional 58 shares in the last quarter. 92.69% of the stock is currently owned by institutional investors.

American Tower Stock Up 2.5%

Shares of NYSE AMT opened at $184.39 on Friday. The stock has a market capitalization of $85.94 billion, a P/E ratio of 34.21, a PEG ratio of 0.77 and a beta of 0.92. American Tower Corporation has a one year low of $166.88 and a one year high of $234.33. The firm’s 50 day simple moving average is $181.42 and its two-hundred day simple moving average is $184.09. The company has a debt-to-equity ratio of 3.27, a current ratio of 0.60 and a quick ratio of 0.60.

American Tower (NYSE:AMT) last announced its quarterly earnings data on Tuesday, February 24th. The real estate investment trust reported $1.75 earnings per share 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 business had revenue of $2.74 billion during the quarter, compared to the consensus estimate of $2.69 billion. During the same quarter in the previous year, the firm posted $2.62 earnings per share. The company’s revenue was up 7.5% compared to the same quarter last year. American Tower has set its FY 2026 guidance at 10.780-10.950 EPS. As a group, analysts expect that American Tower Corporation will post 10.14 EPS for the current fiscal year.

American Tower Increases Dividend

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

Insider Activity

In related news, Director Rajesh Kalathur acquired 2,671 shares of the firm’s stock in a transaction dated Tuesday, March 10th. The shares were purchased at an average price of $185.30 per share, for a total transaction of $494,936.30. Following the completion of the acquisition, the director owned 4,936 shares in the company, valued at approximately $914,640.80. This represents a 117.92% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, COO Eugene M. Noel sold 41,209 shares of the business’s stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $191.05, for a total value of $7,872,979.45. Following the completion of the sale, the chief operating officer directly owned 29,592 shares of the company’s stock, valued at approximately $5,653,551.60. This trade represents a 58.20% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.17% of the company’s stock.

Analyst Upgrades and Downgrades

AMT has been the subject of a number of research reports. Mizuho cut their price target on shares of American Tower from $217.00 to $189.00 and set a “neutral” rating for the company in a research note on Monday, January 12th. The Goldman Sachs Group lowered 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. Morgan Stanley dropped their price objective on shares of American Tower from $225.00 to $220.00 and set an “overweight” rating for the company in a report on Wednesday, February 25th. Barclays reissued an “equal weight” rating and issued a $200.00 target price (down from $203.00) on shares of American Tower in a research note on Monday, December 1st. Finally, Weiss Ratings restated a “hold (c)” rating on shares of American Tower in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $217.35.

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.