Erste Asset Management GmbH Trims Holdings in American Tower Corporation $AMT

Erste Asset Management GmbH decreased its holdings in shares of American Tower Corporation (NYSE:AMT) by 25.3% in the third quarter, HoldingsChannel reports. The firm owned 63,930 shares of the real estate investment trust’s stock after selling 21,656 shares during the quarter. Erste Asset Management GmbH’s holdings in American Tower were worth $12,437,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. Norges Bank bought a new position in shares of American Tower during the second quarter valued at approximately $1,371,875,000. JPMorgan Chase & Co. boosted its holdings in American Tower by 24.3% in 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 acquiring an additional 2,474,328 shares in the last quarter. Viking Global Investors LP increased its position in American Tower by 233.5% during the 2nd quarter. Viking Global Investors LP now owns 2,797,125 shares of the real estate investment trust’s stock valued at $618,221,000 after purchasing an additional 1,958,329 shares during the period. Invesco Ltd. raised its holdings in American Tower by 11.9% in the 2nd quarter. Invesco Ltd. now owns 6,680,524 shares of the real estate investment trust’s stock worth $1,476,529,000 after purchasing an additional 708,808 shares in the last quarter. Finally, Vanguard Group Inc. lifted its position in shares of American Tower by 1.0% in the 3rd quarter. Vanguard Group Inc. now owns 63,640,168 shares of the real estate investment trust’s stock worth $12,239,277,000 after purchasing an additional 611,801 shares during the period. 92.69% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

AMT has been the topic of a number of research reports. UBS Group cut their target price on shares of American Tower from $254.00 to $248.00 and set a “buy” rating on the stock in a research note on Wednesday. Raymond James Financial lowered their price objective on shares of American Tower from $231.00 to $229.00 and set a “strong-buy” rating for the company in a report on Friday, January 23rd. Royal Bank Of Canada reduced their target price on American Tower from $220.00 to $195.00 and set a “sector perform” rating on the stock in a report on Monday, January 12th. JPMorgan Chase & Co. decreased their target price on American Tower from $250.00 to $245.00 and set an “overweight” rating for the company in a research report on Monday, January 12th. Finally, BMO Capital Markets lifted their price target on American Tower from $185.00 to $200.00 and gave the company a “market perform” rating in a research report on Wednesday. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat, American Tower has a consensus rating of “Moderate Buy” and an average price target of $218.00.

Insider Transactions at American Tower

In related news, major shareholder Tower Corp /Ma/ American sold 2,288,621 shares of the company’s stock in a transaction dated Tuesday, December 9th. The shares were sold at an average price of $69.75, for a total value of $159,631,314.75. Following the transaction, the insider owned 211,379 shares in the company, valued at $14,743,685.25. The trade was a 91.54% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.17% of the stock is currently owned by insiders.

American Tower Price Performance

Shares of NYSE AMT opened at $191.72 on Friday. The company has a 50 day simple moving average of $179.11 and a two-hundred day simple moving average of $185.66. American Tower Corporation has a fifty-two week low of $166.88 and a fifty-two week high of $234.33. The company has a market capitalization of $89.76 billion, a price-to-earnings ratio of 35.57, a P/E/G ratio of 0.78 and a beta of 0.93. The company has a debt-to-equity ratio of 3.27, a quick ratio of 0.89 and a current ratio of 0.60.

American Tower (NYSE:AMT) last posted its quarterly earnings results on Tuesday, February 24th. The real estate investment trust reported $1.75 earnings per share for the quarter, missing the consensus estimate of $2.54 by ($0.79). The company had revenue of $2.74 billion during the quarter, compared to analysts’ expectations of $2.69 billion. American Tower had a return on equity of 24.36% and a net margin of 23.76%.The business’s quarterly revenue was up 7.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.62 EPS. American Tower has set its FY 2026 guidance at 10.780-10.950 EPS. Analysts expect that American Tower Corporation will post 10.14 EPS for the current fiscal year.

American Tower Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, February 2nd. Stockholders of record on Monday, December 29th were given a $1.70 dividend. This represents a $6.80 annualized dividend and a dividend yield of 3.5%. The ex-dividend date of this dividend was Monday, December 29th. American Tower’s payout ratio is currently 126.16%.

About American Tower

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.