3,359 American Tower Corporation $AMT Shares Purchased by State of Alaska Department of Revenue

State of Alaska Department of Revenue raised its stake in shares of American Tower Corporation (NYSE:AMT) by 1.2% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 281,580 shares of the real estate investment trust’s stock after purchasing an additional 3,359 shares during the quarter. State of Alaska Department of Revenue’s holdings in American Tower were worth $46,649,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. BlackRock Inc. bought a new position in American Tower during the second quarter valued at about $7,490,943,000. J. Stern & Co. LLP lifted its position in shares of American Tower by 28,121.1% in the 4th quarter. J. Stern & Co. LLP now owns 37,686,978 shares of the real estate investment trust’s stock worth $6,616,703,000 after acquiring an additional 37,553,436 shares during the period. State Street Corp lifted its position in shares of American Tower by 2.9% in the 2nd quarter. State Street Corp now owns 22,066,202 shares of the real estate investment trust’s stock worth $3,647,491,000 after acquiring an additional 631,593 shares during the period. Lazard Asset Management LLC grew its holdings in shares of American Tower by 20.4% during the 1st quarter. Lazard Asset Management LLC now owns 7,325,943 shares of the real estate investment trust’s stock worth $1,264,311,000 after purchasing an additional 1,240,780 shares in the last quarter. Finally, Invesco Ltd. grew its holdings in shares of American Tower by 0.9% during the 4th quarter. Invesco Ltd. now owns 6,948,190 shares of the real estate investment trust’s stock worth $1,219,894,000 after purchasing an additional 59,557 shares in the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

American Tower Price Performance

Shares of American Tower stock traded up $2.53 during midday trading on Thursday, hitting $181.93. 921,795 shares of the company were exchanged, compared to its average volume of 3,068,260. The company has a debt-to-equity ratio of 3.12, a current ratio of 0.52 and a quick ratio of 0.52. The firm has a market cap of $84.77 billion, a P/E ratio of 25.01, a PEG ratio of 2.88 and a beta of 0.88. American Tower Corporation has a 52 week low of $160.06 and a 52 week high of $196.08. The firm has a 50 day simple moving average of $173.12 and a 200-day simple moving average of $175.21.

American Tower (NYSE:AMT) last released its quarterly earnings data on Tuesday, July 28th. The real estate investment trust reported $2.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.57 by $1.14. The firm had revenue of $2.75 billion during the quarter, compared to analyst estimates of $2.70 billion. American Tower had a return on equity of 32.76% and a net margin of 31.08%. The business’s revenue for the quarter was up 4.6% compared to the same quarter last year. During the same period in the prior year, the company posted $2.60 earnings per share. American Tower has set its FY 2026 guidance at 11.000-11.170 EPS. Research analysts forecast that American Tower Corporation will post 10.80 earnings per share for the current year.

American Tower Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 20th. Stockholders of record on Wednesday, September 30th will be issued a $1.79 dividend. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $7.16 annualized dividend and a dividend yield of 3.9%. American Tower’s dividend payout ratio is presently 98.49%.

Insider Buying and Selling

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

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on AMT shares. Jefferies Financial Group lowered 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. Weiss Ratings cut American Tower from a “hold (c)” rating to a “hold (c-)” rating in a research report on Thursday, October 8th. Barclays lifted their price target on shares of American Tower from $198.00 to $199.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 30th. Mizuho set a $208.00 price target on shares of American Tower in a report on Thursday, August 20th. Finally, Sanford C. Bernstein restated an “outperform” rating and issued a $214.00 price objective on shares of American Tower in a research note on Wednesday, July 29th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $215.48.

American Tower Company Profile

American Tower Corporation (NYSE: AMT) is a global real estate investment trust that owns, operates and develops communications infrastructure. Its portfolio includes wireless and broadcast towers, rooftop sites, distributed antenna systems and other facilities that support wireless communications, television and radio broadcasting, government communications and other connectivity services.

The company leases space on its communications sites to wireless carriers, broadcasters, government agencies and other customers.