DNB Asset Management AS Has $22.42 Million Stock Position in American Tower Corporation $AMT

DNB Asset Management AS raised its holdings in American Tower Corporation (NYSE:AMT) by 2.8% during the third quarter, HoldingsChannel reports. The firm owned 116,574 shares of the real estate investment trust’s stock after acquiring an additional 3,218 shares during the quarter. DNB Asset Management AS’s holdings in American Tower were worth $22,420,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. lifted its position in shares of American Tower by 1.0% during the 3rd quarter. Vanguard Group Inc. now owns 63,640,168 shares of the real estate investment trust’s stock worth $12,239,277,000 after buying an additional 611,801 shares during the last quarter. JPMorgan Chase & Co. raised its stake in American Tower by 24.3% during the second quarter. JPMorgan Chase & Co. now owns 12,666,082 shares of the real estate investment trust’s stock worth $2,799,458,000 after acquiring an additional 2,474,328 shares in the last quarter. Invesco Ltd. raised its stake in American Tower by 11.9% during the second quarter. Invesco Ltd. now owns 6,680,524 shares of the real estate investment trust’s stock worth $1,476,529,000 after acquiring an additional 708,808 shares in the last quarter. Norges Bank bought a new position in shares of American Tower in the second quarter worth about $1,371,875,000. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of American Tower by 3.9% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 5,563,565 shares of the real estate investment trust’s stock valued at $1,229,659,000 after purchasing an additional 208,213 shares in the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

American Tower Price Performance

AMT stock opened at $191.72 on Friday. The company has a market capitalization of $89.76 billion, a P/E ratio of 35.57, a PEG ratio of 0.78 and a beta of 0.93. The company has a fifty day moving average price of $179.11 and a 200-day moving average price of $185.66. The company has a debt-to-equity ratio of 3.27, a quick ratio of 0.89 and a current ratio of 0.60. American Tower Corporation has a 52-week low of $166.88 and a 52-week high of $234.33.

American Tower (NYSE:AMT) last posted its quarterly earnings data on Tuesday, February 24th. The real estate investment trust reported $1.75 earnings per share for the quarter, missing analysts’ consensus estimates of $2.54 by ($0.79). The company had revenue of $2.74 billion during the quarter, compared to analyst estimates of $2.69 billion. American Tower had a net margin of 23.76% and a return on equity of 24.36%. The business’s revenue for the quarter was up 7.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.62 earnings per share. American Tower has set its FY 2026 guidance at 10.780-10.950 EPS. As a group, equities analysts expect that American Tower Corporation will post 10.14 EPS for the current year.

American Tower Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, February 2nd. Stockholders of record on Monday, December 29th were paid a $1.70 dividend. The ex-dividend date of this dividend was Monday, December 29th. This represents a $6.80 annualized dividend and a dividend yield of 3.5%. American Tower’s dividend payout ratio is presently 126.16%.

Insider Activity

In related news, major shareholder Tower Corp /Ma/ American sold 2,288,621 shares of American Tower stock in a transaction that occurred on Tuesday, December 9th. The stock was sold at an average price of $69.75, for a total value of $159,631,314.75. Following the transaction, the insider directly owned 211,379 shares of the company’s stock, valued at $14,743,685.25. The trade was a 91.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.17% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research firms recently issued reports on AMT. Weiss Ratings reiterated a “hold (c)” rating on shares of American Tower in a research report on Monday, December 29th. Scotiabank cut their target price on shares of American Tower from $220.00 to $214.00 and set a “sector outperform” rating on the stock in a research report on Wednesday. New Street Research upgraded shares of American Tower from a “neutral” rating to a “buy” rating and set a $203.00 price target for the company in a report on Monday, January 5th. Mizuho dropped their price target on American Tower from $217.00 to $189.00 and set a “neutral” rating for the company in a research note on Monday, January 12th. Finally, Barclays restated an “equal weight” rating and set a $200.00 price objective (down from $203.00) on shares of American Tower in a research report on Monday, December 1st. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, American Tower currently has a consensus rating of “Moderate Buy” and an average price target of $218.00.

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.