DAVENPORT & Co LLC Buys 180,466 Shares of American Tower Corporation $AMT

DAVENPORT & Co LLC boosted its position in shares of American Tower Corporation (NYSE:AMT) by 20.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,052,121 shares of the real estate investment trust’s stock after acquiring an additional 180,466 shares during the period. American Tower accounts for about 1.0% of DAVENPORT & Co LLC’s holdings, making the stock its 20th biggest position. DAVENPORT & Co LLC’s holdings in American Tower were worth $185,118,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Brighton Jones LLC raised its position in shares of American Tower by 113.0% in the fourth quarter. Brighton Jones LLC now owns 3,966 shares of the real estate investment trust’s stock worth $727,000 after buying an additional 2,104 shares in the last quarter. Sivia Capital Partners LLC increased its stake in American Tower by 34.3% in the 2nd quarter. Sivia Capital Partners LLC now owns 1,442 shares of the real estate investment trust’s stock worth $319,000 after acquiring an additional 368 shares during the last quarter. United Bank increased its stake in American Tower by 12.7% in the 2nd quarter. United Bank now owns 6,488 shares of the real estate investment trust’s stock worth $1,434,000 after acquiring an additional 733 shares during the last quarter. Global Retirement Partners LLC purchased a new stake in shares of American Tower in the 2nd quarter valued at about $2,242,000. Finally, Insigneo Advisory Services LLC boosted its position in shares of American Tower by 9.0% during the 2nd quarter. Insigneo Advisory Services LLC now owns 4,269 shares of the real estate investment trust’s stock valued at $944,000 after acquiring an additional 354 shares during the last quarter. Institutional investors own 92.69% of the company’s stock.

American Tower Price Performance

AMT opened at $170.25 on Wednesday. The stock’s 50 day moving average price is $182.43 and its 200-day moving average price is $182.94. American Tower Corporation has a 52-week low of $166.88 and a 52-week high of $234.33. The stock has a market capitalization of $79.35 billion, a PE ratio of 31.59, a price-to-earnings-growth ratio of 0.74 and a beta of 0.92. 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 (NYSE:AMT) last announced its earnings results 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). American Tower had a net margin of 23.76% and a return on equity of 24.36%. The company had revenue of $2.74 billion for the quarter, compared to the consensus estimate of $2.69 billion. During the same period in the previous year, the firm posted $2.62 EPS. The company’s revenue for the quarter was up 7.5% on a year-over-year basis. American Tower has set its FY 2026 guidance at 10.780-10.950 EPS. On average, equities research analysts predict that American Tower Corporation will post 10.14 EPS for the current year.

American Tower Increases Dividend

The business also recently announced 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. This is an increase from American Tower’s previous quarterly dividend of $1.70. This represents a $7.16 dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date of this dividend is Tuesday, April 14th. American Tower’s payout ratio is currently 126.16%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on AMT shares. Sanford C. Bernstein assumed coverage on shares of American Tower in a report on Thursday, March 5th. They issued a “market perform” rating and a $205.00 price target on the stock. UBS Group dropped their price objective on shares of American Tower from $254.00 to $248.00 and set a “buy” rating for the company in a report on Wednesday, February 25th. Weiss Ratings reissued a “hold (c)” rating on shares of American Tower in a research note on Monday, December 29th. Royal Bank Of Canada lowered their price target on 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. Finally, Barclays reaffirmed an “equal weight” rating and set a $200.00 price target (down from $203.00) on shares of American Tower in a research note on Monday, December 1st. One investment 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, the stock has a consensus rating of “Moderate Buy” and an average price target of $217.35.

Insider Buying and Selling at American Tower

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