Bank of America Corp DE Increases Stock Holdings in American Tower Corporation $AMT

Bank of America Corp DE increased its stake in shares of American Tower Corporation (NYSE:AMT) by 14.4% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 4,511,662 shares of the real estate investment trust’s stock after acquiring an additional 566,899 shares during the quarter. Bank of America Corp DE’s holdings in American Tower were worth $778,623,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of AMT. Riverwater Partners LLC lifted its position in shares of American Tower by 3.8% during the fourth quarter. Riverwater Partners LLC now owns 1,536 shares of the real estate investment trust’s stock valued at $270,000 after purchasing an additional 56 shares in the last quarter. Triumph Capital Management grew its position in American Tower by 37.3% in the 4th quarter. Triumph Capital Management now owns 206 shares of the real estate investment trust’s stock worth $36,000 after purchasing an additional 56 shares in the last quarter. Personal CFO Solutions LLC grew its position in American Tower by 3.5% in the 4th quarter. Personal CFO Solutions LLC now owns 1,667 shares of the real estate investment trust’s stock worth $293,000 after purchasing an additional 57 shares in the last quarter. Twin City Private Wealth LLC increased its stake in American Tower by 0.7% in the 4th quarter. Twin City Private Wealth LLC now owns 7,799 shares of the real estate investment trust’s stock valued at $1,382,000 after buying an additional 58 shares during the last quarter. Finally, Asset Advisory Group Inc. increased its stake in American Tower by 3.0% in the 1st quarter. Asset Advisory Group Inc. now owns 2,072 shares of the real estate investment trust’s stock valued at $358,000 after buying an additional 60 shares during the last quarter. 92.69% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on AMT shares. BMO Capital Markets boosted their target price on American Tower from $190.00 to $195.00 and gave the stock a “market perform” rating in a research note on Wednesday. Barclays decreased their price target on 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. Wolfe Research upgraded American Tower from a “peer perform” rating to an “outperform” rating and set a $188.00 price target on the stock in a report on Wednesday, July 8th. Jefferies Financial Group cut their price objective on American Tower from $210.00 to $201.00 and set a “buy” rating on the stock in a research report on Wednesday, July 15th. Finally, Citizens Jmp restated a “market outperform” rating and issued a $260.00 price objective on shares of American Tower in a research note on Wednesday, April 29th. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $215.19.

Insider Transactions at American Tower

In other American Tower news, CFO Robert Joseph Meyer sold 5,000 shares of the stock in a transaction dated Wednesday, July 29th. The shares were sold at an average price of $178.89, for a total transaction of $894,450.00. Following the completion of the transaction, the chief financial officer owned 21,428 shares in the company, valued at $3,833,254.92. This trade represents a 18.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Ruth T. Dowling sold 1,106 shares of the business’s stock in a transaction that occurred on Wednesday, July 29th. The shares were sold at an average price of $174.96, for a total transaction of $193,505.76. Following the completion of the sale, the executive vice president directly owned 27,711 shares in the company, valued at approximately $4,848,316.56. This trade represents a 3.84% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 6,791 shares of company stock worth $1,204,091 over the last 90 days. 0.08% of the stock is currently owned by company insiders.

American Tower Price Performance

Shares of NYSE AMT opened at $173.82 on Friday. The company has a current ratio of 0.52, a quick ratio of 0.43 and a debt-to-equity ratio of 3.12. The stock has a fifty day simple moving average of $175.87 and a two-hundred day simple moving average of $178.39. American Tower Corporation has a 1-year low of $160.06 and a 1-year high of $217.39. The firm has a market cap of $80.98 billion, a price-to-earnings ratio of 23.91, a price-to-earnings-growth ratio of 2.80 and a beta of 0.91.

American Tower (NYSE:AMT) last issued its earnings results on Tuesday, April 28th. The real estate investment trust reported $2.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.60 by $1.24. American Tower had a return on equity of 32.76% and a net margin of 31.08%.The firm had revenue of $2.74 billion for the quarter, compared to analyst estimates of $2.66 billion. During the same period in the previous year, the company posted $2.75 earnings per share. The business’s revenue was up 6.8% on a year-over-year basis. Analysts anticipate that American Tower Corporation will post 10.66 earnings per share for the current year.

American Tower Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 13th. Investors of record on Friday, June 12th were issued a $1.79 dividend. The ex-dividend date of this dividend was Friday, June 12th. This represents a $7.16 annualized dividend and a yield of 4.1%. American Tower’s dividend payout ratio (DPR) is 98.49%.

American Tower News Summary

Here are the key news stories impacting American Tower this week:

• Positive Sentiment: Analysts raised their valuation expectations for American Tower. One firm lifted its price target to $220, while BMO Capital Markets increased its target to $195, suggesting potential upside from recent trading levels. American Tower Price Target Raised to $220 BMO Raises American Tower Price Target
• Positive Sentiment: American Tower’s latest results were stronger than expected, with revenue up 6.8% year over year to $2.74 billion and EPS of $2.84 versus the $1.60 consensus estimate. Record CoreSite data-center leasing and continued demand from cloud and artificial-intelligence infrastructure provide additional growth support.
• Neutral Sentiment: EVP Ruth Dowling sold 1,791 shares across two transactions for approximately $309,641 under a pre-arranged Rule 10b5-1 plan. Because the sales were scheduled and she retained a sizable stake, the transactions are a limited signal about management’s outlook. SEC Insider Trading Filing
• Negative Sentiment: CFO Robert Joseph Meyer sold 5,000 shares worth approximately $894,450, reducing his ownership by 18.92%. Although the sale does not necessarily indicate deteriorating fundamentals, the larger transaction may weigh on investor sentiment. CFO SEC Insider Trading Filing
• Negative Sentiment: American Tower remains highly leveraged, with a debt-to-equity ratio of 3.12, making it sensitive to higher interest rates. Rising borrowing costs can pressure REIT valuations and reduce the appeal of its approximately 4.1% dividend yield.

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.