Purpose Unlimited Inc. Invests $741,000 in American Tower Corporation $AMT

Purpose Unlimited Inc. acquired a new stake in American Tower Corporation (NYSE:AMT) during the fourth quarter, Holdings Channel reports. The institutional investor acquired 4,221 shares of the real estate investment trust’s stock, valued at approximately $741,000.

A number of other institutional investors have also made changes to their positions in AMT. Oakworth Capital Inc. grew its position in American Tower by 90.7% in the fourth quarter. Oakworth Capital Inc. now owns 143 shares of the real estate investment trust’s stock valued at $25,000 after purchasing an additional 68 shares in the last quarter. Richards Merrill & Peterson Inc. bought a new stake in American Tower during the 4th quarter worth about $25,000. Swiss RE Ltd. bought a new stake in American Tower during the 4th quarter worth about $25,000. Triumph Capital Management acquired a new position in shares of American Tower during the 3rd quarter worth about $29,000. Finally, Holos Integrated Wealth LLC bought a new position in shares of American Tower in the 4th quarter valued at about $27,000. Institutional investors own 92.69% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Truist Financial upped their price objective on American Tower from $205.00 to $208.00 and gave the company a “buy” rating in a research note on Thursday, April 30th. UBS Group decreased their target price on American Tower from $254.00 to $248.00 and set a “buy” rating on the stock in a report on Wednesday, February 25th. BMO Capital Markets raised their price target on American Tower from $185.00 to $200.00 and gave the company a “market perform” rating in a report on Wednesday, February 25th. Barclays reduced their price objective on shares of American Tower from $200.00 to $195.00 and set an “equal weight” rating for the company in a research report on Thursday, April 16th. Finally, Royal Bank Of Canada reiterated a “sector perform” rating and issued a $195.00 price objective on shares of American Tower in a report on Thursday, April 30th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $216.20.

American Tower Price Performance

NYSE:AMT opened at $175.66 on Friday. American Tower Corporation has a 52 week low of $165.08 and a 52 week high of $234.33. The company has a debt-to-equity ratio of 3.07, a quick ratio of 0.43 and a current ratio of 0.43. The firm’s 50-day simple moving average is $181.59 and its 200 day simple moving average is $179.91. The firm has a market cap of $81.84 billion, a price-to-earnings ratio of 28.38, a P/E/G ratio of 0.74 and a beta of 0.90.

American Tower (NYSE:AMT) last announced its earnings results on Tuesday, April 28th. The real estate investment trust reported $2.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.60 by $1.24. American Tower had a net margin of 26.81% and a return on equity of 27.79%. The firm had revenue of $2.74 billion for the quarter, compared to analyst estimates of $2.66 billion. During the same quarter in the prior year, the business posted $2.75 EPS. The business’s revenue was up 6.8% compared to the same quarter last year. American Tower has set its FY 2026 guidance at 10.900-11.07 EPS. As a group, sell-side analysts predict that American Tower Corporation will post 10.66 earnings per share for the current year.

American Tower Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, July 13th. Investors of record on Friday, June 12th will be given a dividend of $1.79 per share. The ex-dividend date of this dividend is Friday, June 12th. This represents a $7.16 dividend on an annualized basis and a yield of 4.1%. American Tower’s dividend payout ratio is currently 115.67%.

Insider Transactions at American Tower

In other American Tower news, EVP Ruth T. Dowling sold 416 shares of the firm’s stock in a transaction on Wednesday, April 29th. The stock was sold at an average price of $177.54, for a total transaction of $73,856.64. Following the transaction, the executive vice president owned 29,461 shares in the company, valued at $5,230,505.94. This trade represents a 1.39% decrease in their position. The transaction was disclosed in a legal filing 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 owned by corporate insiders.

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.