Perryman Financial Advisory Inc. AD Invests $4.31 Million in American Tower Corporation $AMT

Perryman Financial Advisory Inc. AD bought a new position in shares of American Tower Corporation (NYSE:AMT) during the fourth quarter, HoldingsChannel reports. The institutional investor bought 24,550 shares of the real estate investment trust’s stock, valued at approximately $4,310,000.

Several other institutional investors have also recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. increased its holdings in American Tower by 20,721.6% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 9,712,672 shares of the real estate investment trust’s stock valued at $1,705,254,000 after buying an additional 9,666,025 shares during the period. Norges Bank purchased a new position in shares of American Tower in the 4th quarter valued at approximately $1,171,180,000. Lazard Asset Management LLC raised its holdings in shares of American Tower by 1,984.8% in the third quarter. Lazard Asset Management LLC now owns 4,464,382 shares of the real estate investment trust’s stock worth $858,552,000 after buying an additional 4,250,242 shares during the last quarter. Capital International Investors raised its stake in American Tower by 157.0% in the 4th quarter. Capital International Investors now owns 3,871,368 shares of the real estate investment trust’s stock worth $679,696,000 after acquiring an additional 2,364,898 shares during the last quarter. Finally, Viking Global Investors LP increased its holdings in shares of 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 valued at $618,221,000 after purchasing an additional 1,958,329 shares during the period. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on AMT shares. Raymond James Financial reaffirmed a “strong-buy” rating and set a $240.00 target price on shares of American Tower in a report on Wednesday, April 29th. Sanford C. Bernstein upgraded shares of American Tower from a “market perform” rating to an “outperform” rating and set a $207.00 price target on the stock in a report on Tuesday, May 19th. Jefferies Financial Group lifted their price objective on shares of American Tower from $209.00 to $210.00 and gave the company a “buy” rating in a research note on Tuesday, April 14th. Scotiabank upped their price objective on shares of American Tower from $214.00 to $218.00 and gave the company an “outperform” rating in a report on Wednesday, April 29th. Finally, TD Cowen cut their price objective on shares of American Tower from $235.00 to $225.00 in a research note on Wednesday, February 25th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $216.20.

Insider Buying and Selling at American Tower

In related news, EVP Ruth T. Dowling sold 556 shares of American Tower stock in a transaction dated Tuesday, April 28th. The stock was sold at an average price of $178.48, for a total value of $99,234.88. Following the completion of the transaction, the executive vice president owned 29,877 shares in the company, valued at $5,332,446.96. The trade was a 1.83% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.08% of the stock is currently owned by corporate insiders.

American Tower Stock Performance

AMT opened at $187.20 on Monday. The firm has a fifty day moving average price of $181.01 and a 200 day moving average price of $179.92. American Tower Corporation has a 1 year low of $165.08 and a 1 year high of $234.33. The stock has a market cap of $87.22 billion, a P/E ratio of 30.24, a P/E/G ratio of 0.78 and a beta of 0.90. The company has a debt-to-equity ratio of 3.07, a current ratio of 0.43 and a quick ratio of 0.43.

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, beating the consensus estimate of $1.60 by $1.24. American Tower had a net margin of 26.81% and a return on equity of 27.79%. The company had revenue of $2.74 billion for the quarter, compared to analyst estimates of $2.66 billion. During the same quarter last year, the business earned $2.75 earnings per share. The firm’s revenue was up 6.8% on a year-over-year basis. 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 earnings per share for the current year.

American Tower Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 13th. Stockholders of record on Friday, June 12th will be given a dividend of $1.79 per share. The ex-dividend date is Friday, June 12th. This represents a $7.16 dividend on an annualized basis and a dividend yield of 3.8%. American Tower’s dividend payout ratio (DPR) is 115.67%.

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.