Davis R M Inc. Boosts Holdings in American Tower Corporation $AMT

Davis R M Inc. boosted its stake in American Tower Corporation (NYSE:AMT) by 1.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 289,155 shares of the real estate investment trust’s stock after acquiring an additional 4,008 shares during the period. Davis R M Inc.’s holdings in American Tower were worth $49,902,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of AMT. Brighton Jones LLC increased its position in shares of American Tower by 113.0% during the fourth quarter. Brighton Jones LLC now owns 3,966 shares of the real estate investment trust’s stock worth $727,000 after purchasing an additional 2,104 shares in the last quarter. Sivia Capital Partners LLC lifted its holdings in shares of American Tower by 34.3% in the 2nd quarter. Sivia Capital Partners LLC now owns 1,442 shares of the real estate investment trust’s stock valued at $319,000 after purchasing an additional 368 shares during the last quarter. United Bank boosted its position in shares of American Tower by 12.7% in the 2nd quarter. United Bank now owns 6,488 shares of the real estate investment trust’s stock valued at $1,434,000 after purchasing an additional 733 shares during the period. Treasurer of the State of North Carolina boosted its position in shares of American Tower by 2.2% in the 2nd quarter. Treasurer of the State of North Carolina now owns 218,511 shares of the real estate investment trust’s stock valued at $48,295,000 after purchasing an additional 4,778 shares during the period. Finally, Ieq Capital LLC grew its stake in American Tower by 52.2% during the 2nd quarter. Ieq Capital LLC now owns 34,248 shares of the real estate investment trust’s stock worth $7,570,000 after buying an additional 11,751 shares during the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

Analysts Set New Price Targets

AMT has been the topic of several research analyst reports. Sanford C. Bernstein raised American Tower from a “market perform” rating to an “outperform” rating and set a $207.00 price target on the stock in a research report on Tuesday, May 19th. Wolfe Research upgraded shares of American Tower from a “peer perform” rating to an “outperform” rating and set a $188.00 target price on the stock in a research report on Wednesday, July 8th. Truist Financial lifted their target price on shares of American Tower from $205.00 to $208.00 and gave the company a “buy” rating in a report on Thursday, April 30th. Mizuho upgraded shares of American Tower from a “neutral” rating to an “outperform” rating and upped their price target for the company from $189.00 to $205.00 in a research report on Wednesday, April 15th. Finally, Raymond James Financial reiterated a “strong-buy” rating and set a $240.00 price target 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 four have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $215.57.

Insider Transactions at American Tower

In related news, EVP Ruth T. Dowling sold 556 shares of the stock in a transaction dated Tuesday, April 28th. The shares were sold at an average price of $178.48, for a total transaction of $99,234.88. Following the completion of the transaction, the executive vice president directly owned 29,877 shares of the company’s stock, valued at $5,332,446.96. This represents a 1.83% decrease in their ownership of the stock. 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 Performance

NYSE:AMT opened at $166.24 on Thursday. The firm’s fifty day moving average price is $176.97 and its 200 day moving average price is $178.50. American Tower Corporation has a 1-year low of $160.06 and a 1-year high of $234.33. The company has a debt-to-equity ratio of 3.07, a current ratio of 0.43 and a quick ratio of 0.43. The firm has a market cap of $77.45 billion, a price-to-earnings ratio of 26.86, a price-to-earnings-growth ratio of 0.68 and a beta of 0.91.

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

American Tower Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, July 13th. Stockholders of record on Friday, June 12th were paid a dividend of $1.79 per share. This represents a $7.16 dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date was Friday, June 12th. American Tower’s payout ratio is 115.67%.

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.