118,842 Shares in American Tower Corporation $AMT Bought by Mill Capital Management LLC

Mill Capital Management LLC acquired a new position in American Tower Corporation (NYSE:AMT) during the second quarter, Holdings Channel.com reports. The firm acquired 118,842 shares of the real estate investment trust’s stock, valued at approximately $19,439,000. American Tower makes up approximately 1.3% of Mill Capital Management LLC’s portfolio, making the stock its 22nd biggest position.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in AMT. J. Stern & Co. LLP grew its stake in shares of 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 acquiring an additional 37,553,436 shares in the last quarter. State Street Corp lifted its stake in shares of American Tower by 0.3% in the fourth quarter. State Street Corp now owns 20,987,534 shares of the real estate investment trust’s stock worth $3,719,634,000 after acquiring an additional 71,605 shares in the last quarter. Geode Capital Management LLC boosted its holdings in American Tower by 1.7% in the fourth quarter. Geode Capital Management LLC now owns 13,499,035 shares of the real estate investment trust’s stock valued at $2,361,675,000 after purchasing an additional 227,361 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its holdings in American Tower by 20,721.6% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 9,712,672 shares of the real estate investment trust’s stock valued at $1,705,254,000 after purchasing an additional 9,666,025 shares during the last quarter. Finally, Lazard Asset Management LLC grew its stake in American Tower by 20.4% during the 1st quarter. Lazard Asset Management LLC now owns 7,325,943 shares of the real estate investment trust’s stock valued at $1,264,311,000 after purchasing an additional 1,240,780 shares in the last quarter. 92.69% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at American Tower

In related news, EVP Ruth T. Dowling sold 1,106 shares of the firm’s stock in a transaction on Wednesday, July 29th. The stock was sold at an average price of $174.96, for a total transaction of $193,505.76. Following the transaction, the executive vice president directly owned 27,711 shares in the company, valued at $4,848,316.56. This trade represents a 3.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Robert Joseph Meyer sold 5,000 shares of American Tower stock in a transaction on Wednesday, July 29th. The stock was sold at an average price of $178.89, for a total transaction of $894,450.00. Following the completion of the transaction, the chief financial officer directly owned 21,428 shares of the company’s stock, valued at approximately $3,833,254.92. This represents a 18.92% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 6,791 shares of company stock worth $1,204,091. Corporate insiders own 0.08% of the company’s stock.

American Tower Stock Up 0.9%

NYSE:AMT opened at $175.68 on Friday. The company has a debt-to-equity ratio of 3.12, a quick ratio of 0.52 and a current ratio of 0.52. The company has a market capitalization of $81.86 billion, a price-to-earnings ratio of 24.17, a price-to-earnings-growth ratio of 2.76 and a beta of 0.90. American Tower Corporation has a one year low of $160.06 and a one year high of $214.79. The stock has a 50-day simple moving average of $172.82 and a 200 day simple moving average of $177.94.

American Tower (NYSE:AMT) last announced its quarterly earnings data on Tuesday, July 28th. The real estate investment trust reported $2.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.57 by $1.14. American Tower had a return on equity of 32.76% and a net margin of 31.08%.The firm had revenue of $2.75 billion for the quarter, compared to analysts’ expectations of $2.70 billion. During the same quarter in the prior year, the firm posted $2.60 earnings per share. American Tower’s revenue for the quarter was up 4.6% compared to the same quarter last year. American Tower has set its FY 2026 guidance at 11.000-11.170 EPS. Sell-side analysts predict that American Tower Corporation will post 10.78 EPS for the current fiscal year.

American Tower Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, July 13th. Investors of record on Friday, June 12th were given a dividend of $1.79 per share. This represents a $7.16 annualized dividend and a dividend yield of 4.1%. The ex-dividend date of this dividend was Friday, June 12th. American Tower’s dividend payout ratio is currently 98.49%.

Wall Street Analyst Weigh In

AMT has been the topic of several analyst reports. TD Cowen lifted their price objective on American Tower from $225.00 to $227.00 and gave the stock a “buy” rating in a report on Wednesday, July 29th. Raymond James Financial reiterated a “strong-buy” rating and set a $240.00 target price on shares of American Tower in a research note on Wednesday, April 29th. The Goldman Sachs Group set a $210.00 price target on shares of American Tower in a research report on Tuesday, July 28th. JPMorgan Chase & Co. dropped their price target on shares of American Tower from $245.00 to $240.00 and set an “overweight” rating for the company in a research note on Wednesday, April 29th. Finally, Weiss Ratings raised shares of American Tower from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, July 14th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $215.14.

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.