Magellan Asset Management Ltd Has $188.17 Million Holdings in American Tower Corporation $AMT

Magellan Asset Management Ltd grew its stake in American Tower Corporation (NYSE:AMT) by 6.6% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,071,779 shares of the real estate investment trust’s stock after buying an additional 66,628 shares during the quarter. American Tower accounts for about 2.3% of Magellan Asset Management Ltd’s investment portfolio, making the stock its 15th biggest holding. Magellan Asset Management Ltd owned about 0.23% of American Tower worth $188,172,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in AMT. Daiwa Securities Group Inc. boosted its holdings in American Tower by 16.8% during the fourth quarter. Daiwa Securities Group Inc. now owns 118,641 shares of the real estate investment trust’s stock worth $20,829,000 after purchasing an additional 17,042 shares during the last quarter. Cibc World Market Inc. boosted its holdings in American Tower by 27.9% during the fourth quarter. Cibc World Market Inc. now owns 322,815 shares of the real estate investment trust’s stock worth $56,677,000 after purchasing an additional 70,348 shares during the last quarter. Sivia Capital Partners LLC boosted its holdings in American Tower by 284.5% during the fourth quarter. Sivia Capital Partners LLC now owns 5,125 shares of the real estate investment trust’s stock worth $900,000 after purchasing an additional 3,792 shares during the last quarter. CIBC Asset Management Inc boosted its holdings in American Tower by 56.4% during the fourth quarter. CIBC Asset Management Inc now owns 123,088 shares of the real estate investment trust’s stock worth $21,611,000 after purchasing an additional 44,404 shares during the last quarter. Finally, Marble Wealth LLC acquired a new position in American Tower during the fourth quarter worth $222,000. Institutional investors and hedge funds own 92.69% of the company’s stock.

Wall Street Analysts Forecast Growth

AMT has been the subject of several recent research reports. JPMorgan Chase & Co. reduced their target price on shares of American Tower from $245.00 to $240.00 and set an “overweight” rating for the company in a report on Wednesday, April 29th. Raymond James Financial restated a “strong-buy” rating and set a $240.00 target price on shares of American Tower in a report on Wednesday, April 29th. Sanford C. Bernstein upgraded shares of American Tower from a “market perform” rating to an “outperform” rating and set a $207.00 target price for the company in a report on Tuesday, May 19th. Mizuho upgraded shares of American Tower from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $189.00 to $205.00 in a report on Wednesday, April 15th. Finally, Barclays cut their price target on shares of American Tower from $200.00 to $195.00 and set an “equal weight” rating for the company in a research note on Thursday, April 16th. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $216.20.

Insider Activity

In other news, EVP Ruth T. Dowling sold 556 shares of the stock in a transaction dated Tuesday, April 28th. The shares were sold at an average price of $178.48, for a total value of $99,234.88. Following the transaction, the executive vice president directly owned 29,877 shares of the company’s stock, valued at $5,332,446.96. This represents a 1.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Rajesh Kalathur acquired 2,671 shares of the company’s stock in a transaction dated 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 completion of the transaction, the director directly owned 4,936 shares of the company’s stock, valued at approximately $914,640.80. This trade represents a 117.92% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 0.08% of the stock is owned by corporate insiders.

American Tower Stock Performance

Shares of AMT stock opened at $194.34 on Friday. The stock has a market cap of $90.54 billion, a P/E ratio of 31.40, a P/E/G ratio of 0.76 and a beta of 0.90. The company has a debt-to-equity ratio of 3.07, a current ratio of 0.43 and a quick ratio of 0.43. The company has a fifty day moving average price of $178.55 and a two-hundred day moving average price of $179.48. American Tower Corporation has a one year low of $165.08 and a one year 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 earnings per share for the quarter, beating the consensus estimate of $1.60 by $1.24. The company had revenue of $2.74 billion for the quarter, compared to analyst estimates of $2.66 billion. American Tower had a net margin of 26.81% and a return on equity of 27.79%. The company’s revenue was up 6.8% on a year-over-year basis. During the same period in the prior year, the firm earned $2.75 earnings per share. American Tower has set its FY 2026 guidance at 10.900-11.07 EPS. As a group, equities analysts predict that American Tower Corporation will post 10.67 EPS for the current year.

American Tower Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 13th. Stockholders of record on Friday, June 12th will be given a $1.79 dividend. The ex-dividend date of this dividend is Friday, June 12th. This represents a $7.16 annualized dividend and a dividend yield of 3.7%. American Tower’s dividend payout ratio is presently 115.67%.

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.