OVERSEA CHINESE BANKING Corp Ltd Acquires Shares of 3,822 American Tower Corporation $AMT

OVERSEA CHINESE BANKING Corp Ltd acquired a new stake in American Tower Corporation (NYSE:AMT) during the 4th quarter, Holdings Channel reports. The institutional investor acquired 3,822 shares of the real estate investment trust’s stock, valued at approximately $671,000.

Several other hedge funds also recently added to or reduced their stakes in the stock. Lazard Asset Management LLC boosted its position in American Tower by 1,984.8% in the 3rd 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 buying an additional 4,250,242 shares during the last quarter. Viking Global Investors LP grew its stake in American Tower by 233.5% in the second quarter. Viking Global Investors LP now owns 2,797,125 shares of the real estate investment trust’s stock worth $618,221,000 after purchasing an additional 1,958,329 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC acquired a new position in American Tower in the third quarter worth about $305,872,000. Arrowstreet Capital Limited Partnership grew its stake in American Tower by 35.0% in the third quarter. Arrowstreet Capital Limited Partnership now owns 2,796,007 shares of the real estate investment trust’s stock worth $537,728,000 after purchasing an additional 724,504 shares in the last quarter. Finally, Two Sigma Investments LP grew its stake in American Tower by 733.1% in the third quarter. Two Sigma Investments LP now owns 804,761 shares of the real estate investment trust’s stock worth $154,772,000 after purchasing an additional 708,158 shares in the last quarter. 92.69% of the stock is owned by hedge funds and other institutional investors.

American Tower Stock Performance

Shares of AMT stock opened at $176.32 on Thursday. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 3.27. The business has a 50 day moving average of $181.34 and a two-hundred day moving average of $180.32. American Tower Corporation has a 52 week low of $165.08 and a 52 week high of $234.33. The company has a market cap of $82.18 billion, a P/E ratio of 32.71, a PEG ratio of 0.73 and a beta of 0.92.

American Tower (NYSE:AMT) last issued 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 net margin of 23.76% and a return on equity of 24.36%. The company had revenue of $2.74 billion during the quarter, compared to analyst estimates of $2.69 billion. During the same quarter in the previous year, the firm earned $2.62 earnings per share. The business’s revenue was up 7.5% on a year-over-year basis. American Tower has set its FY 2026 guidance at 10.780-10.950 EPS. As a group, analysts anticipate that American Tower Corporation will post 10.59 EPS for the current year.

American Tower Increases Dividend

The business also recently announced 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. The ex-dividend date is Tuesday, April 14th. This is an increase from American Tower’s previous quarterly dividend of $1.70. This represents a $7.16 dividend on an annualized basis and a yield of 4.1%. American Tower’s payout ratio is presently 132.84%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. UBS Group decreased their price target on American Tower from $254.00 to $248.00 and set a “buy” rating for the company in a research note on Wednesday, February 25th. The Goldman Sachs Group decreased their price target on American Tower from $230.00 to $210.00 and set a “buy” rating for the company in a research note on Friday, January 16th. Mizuho upgraded American Tower from a “neutral” rating to an “outperform” rating and lifted their price target for the stock from $189.00 to $205.00 in a research note on Wednesday, April 15th. Weiss Ratings reiterated a “hold (c)” rating on shares of American Tower in a research note on Monday, December 29th. Finally, BMO Capital Markets lifted their price target on American Tower from $185.00 to $200.00 and gave the stock a “market perform” rating in a research note on Wednesday, February 25th. Two analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $217.33.

Insider Buying and Selling

In other American Tower 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 completion of the transaction, the chief operating officer directly owned 29,592 shares in the company, 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. Also, Director Rajesh Kalathur bought 2,671 shares of the firm’s stock in a transaction 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 completion of the purchase, the director owned 4,936 shares of the company’s stock, valued at $914,640.80. This trade represents a 117.92% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders own 0.17% of the company’s stock.

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.