CIBC Bancorp USA Inc. Makes New $35.63 Million Investment in American Tower Corporation $AMT

CIBC Bancorp USA Inc. acquired a new position in shares of American Tower Corporation (NYSE:AMT) in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 185,280 shares of the real estate investment trust’s stock, valued at approximately $35,633,000.

A number of other hedge funds have also made changes to their positions in AMT. Mirae Asset Global Investments Co. Ltd. raised its stake in American Tower by 8.9% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 96,793 shares of the real estate investment trust’s stock worth $18,615,000 after acquiring an additional 7,872 shares in the last quarter. Eastern Bank boosted its stake in American Tower by 69.6% in the third quarter. Eastern Bank now owns 139,091 shares of the real estate investment trust’s stock valued at $26,750,000 after acquiring an additional 57,078 shares in the last quarter. Machina Capital S.A.S. purchased a new position in shares of American Tower during the third quarter worth about $2,871,000. Krilogy Financial LLC acquired a new stake in shares of American Tower during the third quarter worth about $1,044,000. Finally, Commerzbank Aktiengesellschaft FI boosted its position in shares of American Tower by 92.4% in the 3rd quarter. Commerzbank Aktiengesellschaft FI now owns 61,397 shares of the real estate investment trust’s stock valued at $11,808,000 after purchasing an additional 29,486 shares during the period. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Insider Buying and Selling

In related news, Director Rajesh Kalathur bought 2,671 shares of the stock in a transaction on Tuesday, March 10th. The shares were purchased at an average price of $185.30 per share, for a total transaction of $494,936.30. Following the acquisition, the director owned 4,936 shares in the company, valued at $914,640.80. This represents a 117.92% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, COO Eugene M. Noel sold 41,209 shares of the stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $191.05, for a total value of $7,872,979.45. Following the sale, the chief operating officer directly owned 29,592 shares in the company, valued at approximately $5,653,551.60. The trade was a 58.20% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.18% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on AMT shares. Royal Bank Of Canada lowered their target price on shares of American Tower from $220.00 to $195.00 and set a “sector perform” rating on the stock in a research report on Monday, January 12th. BMO Capital Markets increased their price target on American Tower from $185.00 to $200.00 and gave the stock a “market perform” rating in a report on Wednesday, February 25th. The Goldman Sachs Group lowered their price objective on shares of American Tower from $230.00 to $210.00 and set a “buy” rating on the stock in a research report on Friday, January 16th. Raymond James Financial dropped their price objective on shares of American Tower from $231.00 to $229.00 and set a “strong-buy” rating on the stock in a research note on Friday, January 23rd. Finally, UBS Group reduced their target price on shares of American Tower from $254.00 to $248.00 and set a “buy” rating for the company in a research note on Wednesday, February 25th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $217.35.

American Tower Trading Up 0.1%

NYSE:AMT opened at $184.93 on Wednesday. American Tower Corporation has a 1 year low of $166.88 and a 1 year high of $234.33. The company has a debt-to-equity ratio of 3.27, a quick ratio of 0.60 and a current ratio of 0.60. The stock has a fifty day moving average price of $181.77 and a two-hundred day moving average price of $183.69. The stock has a market capitalization of $86.19 billion, a price-to-earnings ratio of 34.31, a PEG ratio of 0.78 and a beta of 0.92.

American Tower (NYSE:AMT) last issued its earnings results on Tuesday, February 24th. The real estate investment trust reported $1.75 EPS for the quarter, missing the consensus estimate of $2.54 by ($0.79). The company had revenue of $2.74 billion for the quarter, compared to analysts’ expectations of $2.69 billion. American Tower had a return on equity of 24.36% and a net margin of 23.76%.American Tower’s revenue for the quarter was up 7.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.62 earnings per share. American Tower has set its FY 2026 guidance at 10.780-10.950 EPS. As a group, sell-side analysts anticipate that American Tower Corporation will post 10.14 earnings per share for the current fiscal year.

American Tower Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 28th. Shareholders of record on Tuesday, April 14th will be issued a $1.79 dividend. This represents a $7.16 annualized dividend and a dividend yield of 3.9%. This is a boost from American Tower’s previous quarterly dividend of $1.70. The ex-dividend date of this dividend is Tuesday, April 14th. American Tower’s payout ratio is currently 132.84%.

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.