DNB Asset Management AS Raises Position in American Tower Corporation $AMT

DNB Asset Management AS grew its holdings in shares of American Tower Corporation (NYSE:AMT) by 3.2% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 120,340 shares of the real estate investment trust’s stock after buying an additional 3,766 shares during the quarter. DNB Asset Management AS’s holdings in American Tower were worth $21,128,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the business. Lockheed Martin Investment Management Co. grew its stake in shares of American Tower by 11.5% during the fourth quarter. Lockheed Martin Investment Management Co. now owns 24,340 shares of the real estate investment trust’s stock valued at $4,273,000 after buying an additional 2,520 shares during the last quarter. ANTIPODES PARTNERS Ltd grew its stake in shares of American Tower by 14.8% during the fourth quarter. ANTIPODES PARTNERS Ltd now owns 407,157 shares of the real estate investment trust’s stock valued at $71,490,000 after buying an additional 52,573 shares during the last quarter. Applied Finance Capital Management LLC bought a new position in shares of American Tower during the fourth quarter valued at approximately $1,078,000. Commerzbank Aktiengesellschaft FI grew its stake in shares of American Tower by 7.0% during the fourth quarter. Commerzbank Aktiengesellschaft FI now owns 65,696 shares of the real estate investment trust’s stock valued at $11,534,000 after buying an additional 4,299 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. grew its stake in shares of American Tower by 20,721.6% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 9,712,672 shares of the real estate investment trust’s stock valued at $1,705,254,000 after buying an additional 9,666,025 shares during the last quarter. Institutional investors own 92.69% of the company’s stock.

American Tower Stock Up 0.1%

Shares of NYSE AMT opened at $170.74 on Friday. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 3.07. The stock has a market capitalization of $79.54 billion, a PE ratio of 27.58, a price-to-earnings-growth ratio of 0.71 and a beta of 0.90. The stock’s fifty day simple moving average is $177.80 and its two-hundred day simple moving average is $179.11. American Tower Corporation has a 12-month low of $165.08 and a 12-month high of $234.33.

American Tower (NYSE:AMT) last issued its quarterly earnings data on Tuesday, April 28th. The real estate investment trust reported $2.84 EPS for the quarter, beating the consensus estimate of $1.60 by $1.24. American Tower had a return on equity of 27.79% and a net margin of 26.81%.The firm had revenue of $2.74 billion during the quarter, compared to analyst estimates of $2.66 billion. During the same quarter in the prior year, the business posted $2.75 EPS. The business’s revenue for the quarter was up 6.8% compared to the same quarter last year. American Tower has set its FY 2026 guidance at 10.900-11.07 EPS. As a group, analysts expect that American Tower Corporation will post 10.67 EPS for the current fiscal year.

American Tower Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 28th. Investors of record on Tuesday, April 14th were paid a $1.79 dividend. This is a positive change from American Tower’s previous quarterly dividend of $1.70. The ex-dividend date was Tuesday, April 14th. This represents a $7.16 dividend on an annualized basis and a yield of 4.2%. American Tower’s dividend payout ratio (DPR) is 115.67%.

Insider Buying and Selling at American Tower

In other American Tower news, EVP Ruth T. Dowling sold 556 shares of American Tower stock in a transaction dated Tuesday, April 28th. The stock was sold at an average price of $178.48, for a total transaction of $99,234.88. Following the completion of the transaction, the executive vice president owned 29,877 shares in the company, valued at approximately $5,332,446.96. This trade represents a 1.83% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Eugene M. Noel sold 41,209 shares of American Tower stock in a transaction dated 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 transaction, the chief operating officer owned 29,592 shares of the company’s stock, valued at $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. In the last quarter, insiders sold 42,181 shares of company stock worth $8,046,071. Insiders own 0.08% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on AMT shares. TD Cowen cut their target price on American Tower from $235.00 to $225.00 in a research note on Wednesday, February 25th. BMO Capital Markets upped their target price on American Tower from $185.00 to $200.00 and gave the company a “market perform” rating in a research note on Wednesday, February 25th. Barclays cut their target price on American Tower from $200.00 to $195.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 16th. Morgan Stanley dropped their price objective on American Tower from $225.00 to $220.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 25th. Finally, Mizuho raised American Tower from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $189.00 to $205.00 in a research note on Wednesday, April 15th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $218.05.

American Tower 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.