Plato Investment Management Ltd Purchases Shares of 15,802 American Tower Corporation $AMT

Plato Investment Management Ltd acquired a new position in American Tower Corporation (NYSE:AMT) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 15,802 shares of the real estate investment trust’s stock, valued at approximately $2,570,000.

Other large investors have also recently made changes to their positions in the company. Oakworth Capital Inc. increased its holdings in American Tower by 90.7% in the 4th quarter. Oakworth Capital Inc. now owns 143 shares of the real estate investment trust’s stock worth $25,000 after acquiring an additional 68 shares in the last quarter. Richards Merrill & Peterson Inc. purchased a new position in American Tower during the fourth quarter valued at approximately $25,000. Swiss RE Ltd. bought a new position in shares of American Tower in the fourth quarter worth approximately $25,000. Triumph Capital Management bought a new position in shares of American Tower in the third quarter worth approximately $29,000. Finally, Acumen Wealth Advisors LLC purchased a new stake in shares of American Tower in the fourth quarter worth $29,000. 92.69% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at American Tower

In other news, CFO Robert Joseph Meyer sold 5,000 shares of the stock in a transaction that occurred on Wednesday, July 29th. The stock was sold at an average price of $178.89, for a total transaction of $894,450.00. Following the completion of the transaction, the chief financial officer directly owned 21,428 shares in the company, valued at approximately $3,833,254.92. This represents a 18.92% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Ruth T. Dowling sold 1,106 shares of the firm’s stock in a transaction on Wednesday, July 29th. The shares were sold at an average price of $174.96, for a total transaction of $193,505.76. Following the completion of the transaction, the executive vice president directly owned 27,711 shares of the company’s stock, valued at approximately $4,848,316.56. This trade represents a 3.84% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 6,791 shares of company stock valued at $1,204,091 in the last 90 days. 0.08% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several analysts have recently commented on AMT shares. TD Cowen raised their price objective on shares of American Tower from $225.00 to $227.00 and gave the company a “buy” rating in a research report on Wednesday, July 29th. Wolfe Research upgraded American Tower from a “peer perform” rating to an “outperform” rating and set a $188.00 price target for the company in a research note on Wednesday, July 8th. Citizens Jmp reissued a “market outperform” rating and set a $260.00 price target on shares of American Tower in a report on Wednesday, April 29th. JPMorgan Chase & Co. lowered their price objective on American Tower from $245.00 to $240.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 29th. Finally, Jefferies Financial Group dropped their price objective on American Tower from $210.00 to $201.00 and set a “buy” rating for the company in a research note on Wednesday, July 15th. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $215.14.

American Tower Stock Performance

Shares of NYSE AMT opened at $175.68 on Monday. The company has a market cap of $81.86 billion, a P/E ratio of 24.17, a P/E/G ratio of 2.79 and a beta of 0.90. American Tower Corporation has a 52-week low of $160.06 and a 52-week high of $214.79. The company has a debt-to-equity ratio of 3.12, a quick ratio of 0.52 and a current ratio of 0.52. The firm’s fifty day moving average is $172.82 and its two-hundred day moving average is $177.93.

American Tower (NYSE:AMT) last released its quarterly earnings data 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 business had revenue of $2.75 billion during the quarter, compared to the consensus estimate of $2.70 billion. American Tower had a net margin of 31.08% and a return on equity of 32.76%. The business’s revenue was up 4.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.60 EPS. American Tower has set its FY 2026 guidance at 11.000-11.170 EPS. As a group, analysts anticipate that American Tower Corporation will post 10.78 EPS for the current fiscal year.

American Tower Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, July 13th. Investors of record on Friday, June 12th were paid a dividend of $1.79 per share. The ex-dividend date of this dividend was Friday, June 12th. This represents a $7.16 dividend on an annualized basis and a yield of 4.1%. American Tower’s dividend payout ratio is presently 98.49%.

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.