American Tower Corporation $AMT Position Increased by Yousif Capital Management LLC

Yousif Capital Management LLC grew its position in American Tower Corporation (NYSE:AMT) by 6.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 66,395 shares of the real estate investment trust’s stock after acquiring an additional 4,222 shares during the period. Yousif Capital Management LLC’s holdings in American Tower were worth $11,452,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. BlackRock Inc. bought a new position in American Tower during the second quarter worth about $7,490,943,000. State Street Corp increased its position in American Tower by 2.9% during the second quarter. State Street Corp now owns 22,066,202 shares of the real estate investment trust’s stock worth $3,647,491,000 after buying an additional 631,593 shares during the last quarter. Lazard Asset Management LLC increased its position in American Tower by 20.4% during the first quarter. Lazard Asset Management LLC now owns 7,325,943 shares of the real estate investment trust’s stock worth $1,264,311,000 after buying an additional 1,240,780 shares during the last quarter. Deutsche Bank AG bought a new stake in American Tower in the second quarter valued at approximately $1,096,186,000. Finally, Legal & General Group Plc raised its stake in American Tower by 0.6% in the second quarter. Legal & General Group Plc now owns 4,853,850 shares of the real estate investment trust’s stock valued at $793,944,000 after buying an additional 27,929 shares during the period. Institutional investors own 92.69% of the company’s stock.

Insider Activity at American Tower

In other news, Director Rajesh Kalathur acquired 2,829 shares of the stock in a transaction on Friday, August 21st. The shares were purchased at an average price of $177.00 per share, for a total transaction of $500,733.00. Following the transaction, the director directly owned 7,765 shares of the company’s stock, valued at approximately $1,374,405. This represents a 57.31% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Ruth T. Dowling sold 1,106 shares of American Tower stock in a transaction on Wednesday, July 29th. The stock was sold at an average price of $174.96, for a total value of $193,505.76. Following the sale, the executive vice president directly owned 27,711 shares of the company’s stock, valued at $4,848,316.56. This represents a 3.84% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 6,791 shares of company stock worth $1,204,091 in the last ninety days. 0.08% of the stock is owned by company insiders.

American Tower Trading Up 4.2%

Shares of NYSE:AMT opened at $189.25 on Friday. American Tower Corporation has a 12-month low of $160.06 and a 12-month high of $202.50. The stock has a market cap of $88.18 billion, a PE ratio of 26.03, a P/E/G ratio of 3.03 and a beta of 0.88. The business has a 50 day moving average of $174.69 and a 200-day moving average of $175.73. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 3.12.

American Tower (NYSE:AMT) last posted its earnings results on Tuesday, July 28th. The real estate investment trust reported $2.71 EPS for the quarter, beating the consensus estimate of $1.57 by $1.14. The company had revenue of $2.75 billion for the quarter, compared to the consensus estimate of $2.70 billion. American Tower had a return on equity of 32.76% and a net margin of 31.08%. The firm’s revenue for the quarter was up 4.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.60 earnings per share. American Tower has set its FY 2026 guidance at 11.000-11.170 EPS. As a group, equities research analysts forecast that American Tower Corporation will post 10.80 earnings per share for the current year.

American Tower Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 20th. Investors of record on Wednesday, September 30th were paid a $1.79 dividend. The ex-dividend date was Wednesday, September 30th. This represents a $7.16 annualized dividend and a yield of 3.8%. American Tower’s payout ratio is 98.49%.

American Tower News Summary

Here are the key news stories impacting American Tower this week:

• Positive Sentiment: Reports that SpaceX may pursue approximately 80,000 cell sites to support a nationwide wireless service boosted the outlook for tower operators. American Tower could benefit from new tenants, higher site utilization and incremental recurring rental revenue. SpaceX Talks Send Cell Tower Stocks Surging
• Positive Sentiment: Investors are also citing strong data-center leasing momentum at American Tower’s CoreSite business, adding a second growth catalyst alongside 5G deployments and traditional tower leasing. American Tower climbs as data-center leasing hits fresh records
• Positive Sentiment: Before its upcoming third-quarter report, analysts expect revenue and adjusted funds from operations to benefit from 5G activity, leasing demand and data-center growth. The company’s prior quarter exceeded earnings expectations and revenue increased year over year.
• Neutral Sentiment: Director Teresa Hillary Clarke disclosed several small purchases of American Tower shares, including a recent purchase at approximately $183 per share. The buying provides a modest confidence signal, but the transactions are small relative to the company’s market value and several disclosed trades are older.
• Negative Sentiment: Valuation concerns remain: an analyst recently reduced the price target, while commentary suggested American Tower’s former valuation discount has largely disappeared. This could limit further gains if quarterly results or guidance fail to exceed expectations. American Tower price target cut by Sanford C. Bernstein

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. The Goldman Sachs Group set a $210.00 price objective on American Tower in a research report on Tuesday, July 28th. Truist Financial reissued a “buy” rating and set a $207.00 target price (down from $208.00) on shares of American Tower in a report on Wednesday, August 12th. Scotiabank restated an “outperform” rating on shares of American Tower in a research note on Wednesday, July 29th. TD Cowen increased their price target on American Tower from $225.00 to $227.00 and gave the company a “buy” rating in a research note on Wednesday, July 29th. Finally, Barclays raised their price target on American Tower from $198.00 to $199.00 and gave the company an “overweight” rating in a report on Wednesday, September 30th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $214.90.

American Tower Profile

American Tower Corporation (NYSE:AMT) is a real estate investment trust that owns, operates and develops wireless communications infrastructure. Its portfolio primarily includes communications towers, rooftop sites, distributed antenna systems and other infrastructure used by wireless carriers, broadcasters, governments and businesses to support voice, data and video communications.

The company leases space on its sites to multiple customers, allowing them to install antennas and related equipment without building and maintaining individual tower locations.