Sunbelt Securities Inc. Purchases 5,698 Shares of American Tower Corporation $AMT

Sunbelt Securities Inc. grew its position in American Tower Corporation (NYSE:AMT) by 113.9% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,701 shares of the real estate investment trust’s stock after buying an additional 5,698 shares during the quarter. Sunbelt Securities Inc.’s holdings in American Tower were worth $2,058,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in AMT. Norges Bank bought a new stake in American Tower during the second quarter worth $1,371,875,000. Lazard Asset Management LLC raised its holdings in shares of American Tower by 1,984.8% during the 3rd quarter. Lazard Asset Management LLC now owns 4,464,382 shares of the real estate investment trust’s stock worth $858,552,000 after buying an additional 4,250,242 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of American Tower by 24.3% during the 2nd quarter. JPMorgan Chase & Co. now owns 12,666,082 shares of the real estate investment trust’s stock worth $2,799,458,000 after buying an additional 2,474,328 shares in the last quarter. Viking Global Investors LP lifted its position in shares of American Tower by 233.5% during the 2nd quarter. Viking Global Investors LP now owns 2,797,125 shares of the real estate investment trust’s stock worth $618,221,000 after buying an additional 1,958,329 shares during the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC bought a new stake in shares of American Tower during the 3rd quarter worth $305,872,000. Institutional investors and hedge funds own 92.69% of the company’s stock.

American Tower Price Performance

AMT stock opened at $180.69 on Thursday. The company has a market capitalization of $84.22 billion, a P/E ratio of 33.52, a PEG ratio of 0.78 and a beta of 0.92. The company has a fifty day moving average price of $181.99 and a 200-day moving average price of $183.67. The company has a debt-to-equity ratio of 3.27, a quick ratio of 0.60 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 Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 28th. Stockholders of record on Tuesday, April 14th will be paid a $1.79 dividend. The ex-dividend date of this dividend is Tuesday, April 14th. This is a positive change from American Tower’s previous quarterly dividend of $1.70. This represents a $7.16 annualized dividend and a dividend yield of 4.0%. American Tower’s payout ratio is currently 126.16%.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Jefferies Financial Group lifted their target price on American Tower from $200.00 to $209.00 and gave the company a “buy” rating in a research report on Thursday, February 26th. New Street Research upgraded shares of American Tower from a “neutral” rating to a “buy” rating and set a $203.00 price target on the stock in a research note on Monday, January 5th. JPMorgan Chase & Co. decreased their price target on shares of American Tower from $250.00 to $245.00 and set an “overweight” rating on the stock in a report on Monday, January 12th. Weiss Ratings reissued a “hold (c)” rating on shares of American Tower in a research note on Monday, December 29th. Finally, Morgan Stanley cut their target price on shares of American Tower from $225.00 to $220.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 25th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat, American Tower has an average rating of “Moderate Buy” and an average target price of $217.35.

Insider Transactions at American Tower

In related news, COO Eugene M. Noel sold 41,209 shares of American Tower stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $191.05, for a total value of $7,872,979.45. Following the transaction, the chief operating officer directly owned 29,592 shares of the company’s stock, valued at $5,653,551.60. The trade was a 58.20% 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. Also, Director Rajesh Kalathur bought 2,671 shares of American Tower stock in a transaction that occurred on Tuesday, March 10th. The stock was bought at an average price of $185.30 per share, for a total transaction of $494,936.30. Following the completion of the acquisition, the director directly owned 4,936 shares of the company’s stock, valued at $914,640.80. The trade was a 117.92% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 0.17% of the stock is owned by company insiders.

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.