State Street Corp Raises Stock Position in American Tower Corporation $AMT

State Street Corp lifted its holdings in American Tower Corporation (NYSE:AMT) by 0.3% during the fourth quarter, Holdings Channel reports. The institutional investor owned 20,987,534 shares of the real estate investment trust’s stock after acquiring an additional 71,605 shares during the quarter. State Street Corp’s holdings in American Tower were worth $3,719,634,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Oakworth Capital Inc. grew its position in shares of American Tower by 90.7% in the 4th quarter. Oakworth Capital Inc. now owns 143 shares of the real estate investment trust’s stock worth $25,000 after buying an additional 68 shares during the period. Richards Merrill & Peterson Inc. purchased a new stake in shares of American Tower in the 4th quarter worth about $25,000. Swiss RE Ltd. purchased a new stake in shares of American Tower in the 4th quarter worth about $25,000. Triumph Capital Management purchased a new stake in shares of American Tower in the 3rd quarter worth about $29,000. Finally, Holos Integrated Wealth LLC purchased a new stake in shares of American Tower in the 4th quarter worth about $27,000. 92.69% of the stock is owned by hedge funds and other institutional investors.

American Tower Stock Performance

Shares of American Tower stock opened at $187.20 on Friday. The stock has a market cap of $87.22 billion, a price-to-earnings ratio of 30.24, a PEG ratio of 0.79 and a beta of 0.90. The firm’s 50-day moving average is $181.01 and its 200 day moving average is $179.92. American Tower Corporation has a 1 year low of $165.08 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.

American Tower (NYSE:AMT) last announced its quarterly earnings results on Tuesday, April 28th. The real estate investment trust reported $2.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.60 by $1.24. The company had revenue of $2.74 billion for the quarter, compared to analysts’ expectations of $2.66 billion. American Tower had a net margin of 26.81% and a return on equity of 27.79%. American Tower’s revenue was up 6.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.75 EPS. American Tower has set its FY 2026 guidance at 10.900-11.07 EPS. Sell-side analysts anticipate that American Tower Corporation will post 10.67 EPS for the current fiscal year.

American Tower Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 13th. Investors of record on Friday, June 12th will be paid a $1.79 dividend. The ex-dividend date is Friday, June 12th. This represents a $7.16 dividend on an annualized basis and a yield of 3.8%. American Tower’s payout ratio is presently 115.67%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on AMT. Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $195.00 target price on shares of American Tower in a research report on Thursday, April 30th. Sanford C. Bernstein raised shares of American Tower from a “market perform” rating to an “outperform” rating and set a $207.00 target price on the stock in a research report on Tuesday, May 19th. Weiss Ratings raised shares of American Tower from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, May 11th. Mizuho raised shares of American Tower from a “neutral” rating to an “outperform” rating and upped their target price for the stock from $189.00 to $205.00 in a research report on Wednesday, April 15th. Finally, TD Cowen reduced their target price on shares of American Tower from $235.00 to $225.00 in a research report on Wednesday, February 25th. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $216.20.

Insider Transactions at American Tower

In related news, EVP Ruth T. Dowling sold 556 shares of the company’s stock in a transaction dated Tuesday, April 28th. The shares were sold at an average price of $178.48, for a total value of $99,234.88. Following the transaction, the executive vice president owned 29,877 shares in the company, valued at $5,332,446.96. The trade was a 1.83% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.08% of the stock is currently owned by insiders.

American Tower Company 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.