Chevy Chase Trust Holdings LLC Has $46.06 Million Stock Holdings in American Tower Corporation $AMT

Chevy Chase Trust Holdings LLC decreased its position in American Tower Corporation (NYSE:AMT) by 3.4% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 239,513 shares of the real estate investment trust’s stock after selling 8,423 shares during the quarter. Chevy Chase Trust Holdings LLC owned 0.05% of American Tower worth $46,063,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank bought a new stake in American Tower during the 2nd quarter worth about $1,371,875,000. Lazard Asset Management LLC lifted its position in American Tower by 1,984.8% during the 3rd 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 period. JPMorgan Chase & Co. boosted its stake in shares of American Tower by 24.3% in the 2nd 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 during the last quarter. Viking Global Investors LP grew its position in shares of 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 worth $618,221,000 after buying an additional 1,958,329 shares during the period. Finally, Barrow Hanley Mewhinney & Strauss LLC bought a new stake in shares of American Tower during the third quarter worth approximately $305,872,000. 92.69% of the stock is owned by institutional investors.

Insider Activity

In other news, COO Eugene M. Noel sold 41,209 shares of the firm’s stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $191.05, for a total transaction of $7,872,979.45. Following the sale, the chief operating officer owned 29,592 shares of the company’s stock, valued at $5,653,551.60. This trade represents a 58.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Rajesh Kalathur purchased 2,671 shares of the business’s stock in a transaction on Tuesday, March 10th. The stock was bought at an average cost of $185.30 per share, for a total transaction of $494,936.30. Following the purchase, the director owned 4,936 shares of the company’s stock, valued at approximately $914,640.80. This represents a 117.92% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders own 0.18% of the company’s stock.

American Tower Stock Up 2.5%

Shares of NYSE AMT opened at $184.39 on Monday. American Tower Corporation has a 52-week low of $166.88 and a 52-week high of $234.33. The company has a debt-to-equity ratio of 3.27, a quick ratio of 0.60 and a current ratio of 0.60. The stock has a market cap of $85.94 billion, a P/E ratio of 34.21, a P/E/G ratio of 0.77 and a beta of 0.92. The firm has a 50 day moving average price of $181.42 and a 200 day moving average price of $183.95.

American Tower (NYSE:AMT) last posted its 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). American Tower had a return on equity of 24.36% and a net margin of 23.76%.The firm had revenue of $2.74 billion during the quarter, compared to analyst estimates of $2.69 billion. During the same quarter last year, the business posted $2.62 earnings per share. The company’s revenue for the quarter was up 7.5% on a year-over-year basis. 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 year.

American Tower Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 28th. Investors of record on Tuesday, April 14th will be paid a dividend of $1.79 per share. This represents a $7.16 annualized dividend and a yield of 3.9%. The ex-dividend date of this dividend is Tuesday, April 14th. This is a boost from American Tower’s previous quarterly dividend of $1.70. American Tower’s dividend payout ratio (DPR) is 126.16%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on AMT shares. The Goldman Sachs Group reduced their price objective on shares of American Tower from $230.00 to $210.00 and set a “buy” rating on the stock in a research note on Friday, January 16th. Morgan Stanley dropped their target price on shares of American Tower from $225.00 to $220.00 and set an “overweight” rating for the company in a research report on Wednesday, February 25th. JPMorgan Chase & Co. cut their price target on American Tower from $250.00 to $245.00 and set an “overweight” rating on the stock in a research note on Monday, January 12th. Sanford C. Bernstein initiated coverage on American Tower in a research report on Thursday, March 5th. They issued a “market perform” rating and a $205.00 price target on the stock. Finally, BMO Capital Markets upped their price objective on American Tower from $185.00 to $200.00 and gave the company a “market perform” rating in a report on Wednesday, February 25th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $217.35.

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.