3,400 Shares in American Tower Corporation $AMT Acquired by Park State Asset Management

Park State Asset Management acquired a new stake in American Tower Corporation (NYSE:AMT) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 3,400 shares of the real estate investment trust’s stock, valued at approximately $556,000. American Tower comprises 0.5% of Park State Asset Management’s investment portfolio, making the stock its 19th largest position.

Other institutional investors and hedge funds have also bought and sold shares of the company. BlackRock Inc. bought a new stake in shares of American Tower in the second quarter valued at $7,490,943,000. J. Stern & Co. LLP lifted its position in shares of American Tower by 28,121.1% during the 4th quarter. J. Stern & Co. LLP now owns 37,686,978 shares of the real estate investment trust’s stock valued at $6,616,703,000 after buying an additional 37,553,436 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its stake in shares of American Tower by 20,721.6% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 9,712,672 shares of the real estate investment trust’s stock worth $1,705,254,000 after acquiring an additional 9,666,025 shares during the period. Deutsche Bank AG purchased a new stake in American Tower in the 2nd quarter worth about $1,096,186,000. Finally, Norges Bank purchased a new stake in American Tower in the 4th quarter worth about $1,171,180,000. 92.69% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have commented on AMT shares. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $214.00 price objective on shares of American Tower in a report on Wednesday, July 29th. Citizens Jmp reiterated a “market outperform” rating and issued a $260.00 target price on shares of American Tower in a research note on Wednesday, April 29th. The Goldman Sachs Group set a $210.00 price target on shares of American Tower in a research report on Tuesday, July 28th. Weiss Ratings upgraded shares of American Tower from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, July 14th. Finally, Wolfe Research raised shares of American Tower from a “peer perform” rating to an “outperform” rating and set a $188.00 price objective for the company in a report on Wednesday, July 8th. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $215.14.

American Tower Stock Performance

NYSE:AMT opened at $172.45 on Wednesday. The business’s fifty day moving average is $172.11 and its 200 day moving average is $177.84. The firm has a market cap of $80.35 billion, a price-to-earnings ratio of 23.72, a PEG ratio of 2.79 and a beta of 0.90. The company has a debt-to-equity ratio of 3.12, a quick ratio of 0.52 and a current ratio of 0.52. American Tower Corporation has a 52-week low of $160.06 and a 52-week high of $214.79.

American Tower (NYSE:AMT) last issued its earnings results on Tuesday, July 28th. The real estate investment trust reported $2.71 EPS for the quarter, topping the consensus estimate of $1.57 by $1.14. American Tower had a return on equity of 32.76% and a net margin of 31.08%.The business had revenue of $2.75 billion during the quarter, compared to the consensus estimate of $2.70 billion. During the same quarter last year, the company earned $2.60 EPS. The firm’s revenue was up 4.6% compared to the same quarter last year. American Tower has set its FY 2026 guidance at 11.000-11.170 EPS. Research analysts predict that American Tower Corporation will post 10.78 EPS for the current year.

American Tower Announces Dividend

The company also recently disclosed 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 annualized dividend and a yield of 4.2%. American Tower’s payout ratio is currently 98.49%.

Insider Activity at American Tower

In related news, CFO Robert Joseph Meyer sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 29th. The shares were sold at an average price of $178.89, for a total transaction of $894,450.00. Following the sale, the chief financial officer owned 21,428 shares of the company’s stock, 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 SEC, which is accessible through this hyperlink. Also, EVP Ruth T. Dowling sold 1,106 shares of the stock in a transaction that occurred on Wednesday, July 29th. The stock was sold at an average price of $174.96, for a total transaction of $193,505.76. Following the completion of the sale, the executive vice president owned 27,711 shares in the company, valued at $4,848,316.56. This represents a 3.84% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 6,791 shares of company stock valued at $1,204,091. 0.08% of the stock is owned by corporate insiders.

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.