Mediolanum International Funds Ltd Takes Position in American Tower Corporation $AMT

Mediolanum International Funds Ltd acquired a new position in shares of American Tower Corporation (NYSE:AMT) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 102,330 shares of the real estate investment trust’s stock, valued at approximately $17,433,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Raleigh Capital Management Inc. lifted its stake in shares of American Tower by 489.1% during the first quarter. Raleigh Capital Management Inc. now owns 13,703 shares of the real estate investment trust’s stock valued at $2,365,000 after buying an additional 11,377 shares during the period. Canal Capital Management LLC grew its stake in American Tower by 81.9% in the 1st quarter. Canal Capital Management LLC now owns 34,471 shares of the real estate investment trust’s stock worth $5,949,000 after acquiring an additional 15,520 shares during the period. Bernzott Capital Advisors raised its holdings in American Tower by 29.3% in the 1st quarter. Bernzott Capital Advisors now owns 42,161 shares of the real estate investment trust’s stock valued at $7,276,000 after acquiring an additional 9,556 shares during the last quarter. Legal & General Group Plc lifted its stake in shares of American Tower by 4.7% during the 4th quarter. Legal & General Group Plc now owns 4,873,695 shares of the real estate investment trust’s stock worth $855,675,000 after purchasing an additional 220,447 shares during the period. Finally, Nordea Investment Management AB lifted its stake in shares of American Tower by 10.4% during the 4th quarter. Nordea Investment Management AB now owns 1,743,321 shares of the real estate investment trust’s stock worth $306,284,000 after purchasing an additional 164,645 shares during the period. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Insider Buying and Selling at American Tower

In other 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 transaction, the executive vice president directly owned 29,877 shares of the company’s stock, valued at $5,332,446.96. The trade was a 1.83% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. 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 Stock Up 0.0%

Shares of NYSE AMT opened at $170.13 on Monday. The stock has a market capitalization of $79.26 billion, a PE ratio of 27.48, a P/E/G ratio of 0.71 and a beta of 0.91. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 3.07. The firm has a fifty day moving average of $177.64 and a 200-day moving average of $178.72. American Tower Corporation has a 52-week low of $160.06 and a 52-week high of $234.33.

American Tower (NYSE:AMT) last issued its earnings results on Tuesday, April 28th. The real estate investment trust reported $2.84 earnings per share for the quarter, topping the consensus estimate of $1.60 by $1.24. American Tower had a return on equity of 27.79% and a net margin of 26.81%.The business had revenue of $2.74 billion for the quarter, compared to analyst estimates of $2.66 billion. During the same period last year, the company posted $2.75 EPS. The business’s quarterly 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. On average, analysts anticipate that American Tower Corporation will post 10.66 EPS for the current year.

American Tower Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 13th. Stockholders of record on Friday, June 12th were issued a $1.79 dividend. This represents a $7.16 dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date was Friday, June 12th. American Tower’s dividend payout ratio (DPR) is 115.67%.

Wall Street Analyst Weigh In

AMT has been the subject of a number of recent analyst reports. Wolfe Research raised American Tower from a “peer perform” rating to an “outperform” rating and set a $188.00 price objective for the company in a research report on Wednesday, July 8th. Royal Bank Of Canada upgraded American Tower from a “sector perform” rating to an “outperform” rating and increased their target price for the stock from $195.00 to $205.00 in a research report on Friday, June 26th. Scotiabank raised their price target on American Tower from $214.00 to $218.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 29th. Truist Financial lifted their price target on American Tower from $205.00 to $208.00 and gave the company a “buy” rating in a report on Thursday, April 30th. Finally, Raymond James Financial reaffirmed a “strong-buy” rating and set a $240.00 price objective on shares of American Tower in a research note on Wednesday, April 29th. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $215.57.

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.