Lido Advisors LLC Buys 12,930 Shares of American Tower Corporation $AMT

Lido Advisors LLC lifted its stake in shares of American Tower Corporation (NYSE:AMT) by 9.9% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 143,896 shares of the real estate investment trust’s stock after purchasing an additional 12,930 shares during the quarter. Lido Advisors LLC’s holdings in American Tower were worth $27,900,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of AMT. Norges Bank acquired a new position in American Tower in the 2nd quarter worth about $1,371,875,000. Lazard Asset Management LLC raised its position in American Tower by 1,984.8% in the third quarter. Lazard Asset Management LLC now owns 4,464,382 shares of the real estate investment trust’s stock valued at $858,552,000 after purchasing an additional 4,250,242 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of American Tower by 24.3% during the second quarter. JPMorgan Chase & Co. now owns 12,666,082 shares of the real estate investment trust’s stock valued at $2,799,458,000 after purchasing an additional 2,474,328 shares in the last quarter. Viking Global Investors LP grew its holdings in shares of American Tower by 233.5% during the second quarter. Viking Global Investors LP now owns 2,797,125 shares of the real estate investment trust’s stock worth $618,221,000 after purchasing an additional 1,958,329 shares during the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC bought a new stake in shares of American Tower during the third quarter worth about $305,872,000. 92.69% of the stock is currently owned by institutional investors.

Insider Buying and Selling at American Tower

In other news, Director Rajesh Kalathur bought 2,671 shares of the stock in a transaction that occurred on Tuesday, March 10th. The stock was acquired at an average price of $185.30 per share, with a total value of $494,936.30. Following the completion of the purchase, the director directly owned 4,936 shares of the company’s stock, valued at approximately $914,640.80. This represents a 117.92% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, COO Eugene M. Noel sold 41,209 shares of the business’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 transaction, the chief operating officer 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. Corporate insiders own 0.18% of the company’s stock.

American Tower Price Performance

American Tower stock opened at $184.54 on Tuesday. The stock’s 50 day moving average is $181.59 and its 200 day moving average is $183.82. American Tower Corporation has a one year low of $166.88 and a one year high of $234.33. The firm has a market cap of $86.01 billion, a P/E ratio of 34.24, a P/E/G ratio of 0.77 and a beta of 0.92. 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 (NYSE:AMT) last released 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 firm had revenue of $2.74 billion for the quarter, compared to analyst estimates of $2.69 billion. During the same period in the prior year, the company posted $2.62 EPS. The business’s revenue for the quarter 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. As a group, research analysts expect that American Tower Corporation will post 10.14 EPS for the current year.

American Tower Increases Dividend

The company also recently disclosed 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. The ex-dividend date of this dividend is Tuesday, April 14th. This represents a $7.16 dividend on an annualized basis and a dividend yield of 3.9%. This is an increase from American Tower’s previous quarterly dividend of $1.70. American Tower’s payout ratio is currently 126.16%.

Wall Street Analysts Forecast Growth

AMT has been the subject of a number of research reports. 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. Raymond James Financial reduced their target price on shares of American Tower from $231.00 to $229.00 and set a “strong-buy” rating on the stock in a report on Friday, January 23rd. Royal Bank Of Canada decreased their price target on shares of American Tower from $220.00 to $195.00 and set a “sector perform” rating for the company in a research report on Monday, January 12th. New Street Research raised shares of American Tower from a “neutral” rating to a “buy” rating and set a $203.00 price target for the company in a research note on Monday, January 5th. Finally, Sanford C. Bernstein began coverage on shares of American Tower in a report on Thursday, March 5th. They set a “market perform” rating and a $205.00 price target on the stock. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat, American Tower currently has a consensus rating of “Moderate Buy” and an average price target of $217.35.

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.