PeakShares LLC Takes $1 Million Position in American Tower Corporation $AMT

PeakShares LLC purchased a new stake in shares of American Tower Corporation (NYSE:AMT) during the 4th quarter, Holdings Channel reports. The institutional investor purchased 5,712 shares of the real estate investment trust’s stock, valued at approximately $1,003,000.

A number of other institutional investors have also added to or reduced their stakes in the company. J. Stern & Co. LLP lifted its position in American Tower by 28,121.1% during the fourth quarter. J. Stern & Co. LLP now owns 37,686,978 shares of the real estate investment trust’s stock valued at $6,616,703,000 after buying an additional 37,553,436 shares during the period. Northwestern Mutual Wealth Management Co. grew its position in shares of American Tower by 20,721.6% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 9,712,672 shares of the real estate investment trust’s stock worth $1,705,254,000 after buying an additional 9,666,025 shares during the period. Norges Bank purchased a new stake in shares of American Tower in the 4th quarter worth about $1,171,180,000. Lazard Asset Management LLC increased its stake in shares of American Tower by 1,984.8% in 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 acquiring an additional 4,250,242 shares in the last quarter. Finally, Capital International Investors lifted its position in American Tower by 157.0% during the 4th quarter. Capital International Investors now owns 3,871,368 shares of the real estate investment trust’s stock valued at $679,696,000 after acquiring an additional 2,364,898 shares during the period. Institutional investors own 92.69% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Ruth T. Dowling sold 556 shares of the company’s stock in a transaction that occurred on Tuesday, April 28th. The stock was sold at an average price of $178.48, for a total value of $99,234.88. Following the transaction, the executive vice president directly owned 29,877 shares of the company’s stock, valued at approximately $5,332,446.96. This represents a 1.83% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through 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 Stock Performance

Shares of AMT stock opened at $175.66 on Friday. The company has a market capitalization of $81.84 billion, a price-to-earnings ratio of 28.38, a price-to-earnings-growth ratio of 0.74 and a beta of 0.90. The company has a debt-to-equity ratio of 3.07, a quick ratio of 0.43 and a current ratio of 0.43. American Tower Corporation has a one year low of $165.08 and a one year high of $234.33. The company’s 50-day moving average is $181.59 and its 200 day moving average is $179.91.

American Tower (NYSE:AMT) last issued its earnings results on Tuesday, April 28th. The real estate investment trust reported $2.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.60 by $1.24. The business had revenue of $2.74 billion during 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%. The business’s revenue for the quarter was up 6.8% compared to the same quarter last year. During the same period in the previous year, the company earned $2.75 earnings per share. American Tower has set its FY 2026 guidance at 10.900-11.07 EPS. Sell-side analysts expect that American Tower Corporation will post 10.66 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 given a dividend of $1.79 per share. The ex-dividend date of this dividend is Friday, June 12th. This represents a $7.16 annualized dividend and a dividend yield of 4.1%. American Tower’s dividend payout ratio (DPR) is 115.67%.

Analysts Set New Price Targets

Several equities research analysts recently commented on AMT shares. UBS Group dropped their price objective on shares of American Tower from $254.00 to $248.00 and set a “buy” rating on the stock in a research note on Wednesday, February 25th. Raymond James Financial reiterated a “strong-buy” rating and set a $240.00 target price on shares of American Tower in a report on Wednesday, April 29th. Jefferies Financial Group boosted their price target on American Tower from $209.00 to $210.00 and gave the stock a “buy” rating in a research report on Tuesday, April 14th. Mizuho upgraded American Tower from a “neutral” rating to an “outperform” rating and upped their price target for the stock from $189.00 to $205.00 in a research note on Wednesday, April 15th. Finally, Scotiabank raised their price objective on American Tower from $214.00 to $218.00 and gave the company an “outperform” rating in a research report on Wednesday, April 29th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $216.20.

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.