Invesco Ltd. Increases Stock Position in American Tower Corporation $AMT

Invesco Ltd. raised its stake in shares of American Tower Corporation (NYSE:AMT) by 3.1% in the third quarter, Holdings Channel.com reports. The fund owned 6,888,633 shares of the real estate investment trust’s stock after purchasing an additional 208,109 shares during the period. Invesco Ltd.’s holdings in American Tower were worth $1,324,822,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Abound Wealth Management raised its position in American Tower by 137.3% in the third quarter. Abound Wealth Management now owns 140 shares of the real estate investment trust’s stock valued at $27,000 after purchasing an additional 81 shares during the period. Root Financial Partners LLC purchased a new position in shares of American Tower during the third quarter worth $32,000. Physician Wealth Advisors Inc. boosted its position in shares of American Tower by 85.9% during the third quarter. Physician Wealth Advisors Inc. now owns 171 shares of the real estate investment trust’s stock worth $33,000 after buying an additional 79 shares during the period. Westside Investment Management Inc. grew its stake in shares of American Tower by 103.6% in the third quarter. Westside Investment Management Inc. now owns 169 shares of the real estate investment trust’s stock valued at $33,000 after buying an additional 86 shares in the last quarter. Finally, VSM Wealth Advisory LLC grew its stake in shares of American Tower by 136.4% in the second quarter. VSM Wealth Advisory LLC now owns 156 shares of the real estate investment trust’s stock valued at $34,000 after buying an additional 90 shares in the last quarter. 92.69% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on AMT shares. JPMorgan Chase & Co. decreased their target price on American Tower from $250.00 to $245.00 and set an “overweight” rating on the stock in a research note on Monday, January 12th. TD Cowen cut their price target on shares of American Tower from $235.00 to $225.00 in a research note on Wednesday, February 25th. Mizuho reduced their price target on shares of American Tower from $217.00 to $189.00 and set a “neutral” rating on the stock in a research report on Monday, January 12th. Royal Bank Of Canada lowered their price objective on shares of American Tower from $220.00 to $195.00 and set a “sector perform” rating for the company in a research note on Monday, January 12th. Finally, Sanford C. Bernstein started coverage on shares of American Tower in a research note on Thursday, March 5th. They set a “market perform” rating and a $205.00 target price on the stock. One 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. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $217.35.

Insider Activity at American Tower

In other news, Director Rajesh Kalathur acquired 2,671 shares of the company’s stock in a transaction on Tuesday, March 10th. The shares were bought at an average cost of $185.30 per share, with a total value of $494,936.30. Following the transaction, the director owned 4,936 shares in the company, valued at approximately $914,640.80. This trade represents a 117.92% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Eugene M. Noel sold 41,209 shares of the firm’s stock in a transaction on 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 completion of the sale, the chief operating officer owned 29,592 shares in the company, valued at $5,653,551.60. The trade was a 58.20% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.17% of the company’s stock.

American Tower Trading Down 1.7%

AMT opened at $179.66 on Friday. The business has a fifty day moving average price of $181.23 and a 200 day moving average price of $184.44. The company has a debt-to-equity ratio of 3.27, a current ratio of 0.60 and a quick ratio of 0.60. American Tower Corporation has a 12 month low of $166.88 and a 12 month high of $234.33. The stock has a market capitalization of $83.74 billion, a price-to-earnings ratio of 33.33, a PEG ratio of 0.77 and a beta of 0.92.

American Tower (NYSE:AMT) last announced its quarterly earnings data on Tuesday, February 24th. The real estate investment trust reported $1.75 earnings per share (EPS) for the quarter, missing the consensus estimate 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 during the quarter, compared to analysts’ expectations of $2.69 billion. During the same quarter in the previous year, the business posted $2.62 EPS. The business’s quarterly revenue was up 7.5% compared to the same quarter last year. American Tower has set its FY 2026 guidance at 10.780-10.950 EPS. Sell-side analysts expect that American Tower Corporation will post 10.14 earnings per share for the current fiscal year.

American Tower Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 28th. Investors 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 yield of 4.0%. The ex-dividend date is Tuesday, April 14th. American Tower’s payout ratio is presently 126.16%.

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.