Y Intercept Hong Kong Ltd Reduces Stock Holdings in American Tower Corporation $AMT

Y Intercept Hong Kong Ltd lowered its stake in American Tower Corporation (NYSE:AMT) by 67.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 29,807 shares of the real estate investment trust’s stock after selling 61,341 shares during the period. Y Intercept Hong Kong Ltd’s holdings in American Tower were worth $5,144,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in AMT. Leonteq Securities AG raised its holdings in American Tower by 49.4% in the 1st quarter. Leonteq Securities AG now owns 9,447 shares of the real estate investment trust’s stock worth $1,630,000 after purchasing an additional 3,123 shares in the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its stake in shares of American Tower by 73.3% during the 1st quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 128,234 shares of the real estate investment trust’s stock valued at $22,131,000 after purchasing an additional 54,250 shares in the last quarter. Elevation Point Wealth Partners LLC boosted its stake in shares of American Tower by 56.3% during the 1st quarter. Elevation Point Wealth Partners LLC now owns 10,763 shares of the real estate investment trust’s stock valued at $1,858,000 after purchasing an additional 3,878 shares in the last quarter. Fideuram Intesa Sanpaolo Private Banking S.P.A. increased its position in shares of American Tower by 0.8% during the first quarter. Fideuram Intesa Sanpaolo Private Banking S.P.A. now owns 81,826 shares of the real estate investment trust’s stock valued at $14,122,000 after buying an additional 621 shares during the period. Finally, Strs Ohio increased its position in shares of American Tower by 15.0% during the first quarter. Strs Ohio now owns 172,521 shares of the real estate investment trust’s stock valued at $29,774,000 after buying an additional 22,522 shares during the period. 92.69% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at American Tower

In related news, EVP Ruth T. Dowling sold 416 shares of the firm’s stock in a transaction that occurred on Wednesday, April 29th. The stock was sold at an average price of $177.54, for a total transaction of $73,856.64. Following the completion of the transaction, the executive vice president owned 29,461 shares of the company’s stock, valued at $5,230,505.94. This trade represents a 1.39% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.08% of the stock is owned by insiders.

Analysts Set New Price Targets

AMT has been the subject of several research analyst reports. Scotiabank raised their price objective on shares of American Tower from $214.00 to $218.00 and gave the stock an “outperform” rating in a report on Wednesday, April 29th. The Goldman Sachs Group assumed coverage on American Tower in a report on Friday, June 26th. They set a “buy” rating and a $215.00 target price on the stock. Royal Bank Of Canada raised American Tower from a “sector perform” rating to an “outperform” rating and increased their target price for the stock from $195.00 to $205.00 in a research report on Friday, June 26th. Mizuho upgraded American Tower from a “neutral” rating to an “outperform” rating and raised their target price for the company from $189.00 to $205.00 in a research note on Wednesday, April 15th. Finally, Raymond James Financial restated a “strong-buy” rating and set a $240.00 price target on shares of American Tower in a research report on Wednesday, April 29th. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $216.95.

American Tower Trading Down 0.1%

Shares of NYSE AMT opened at $165.84 on Friday. American Tower Corporation has a 1 year low of $162.27 and a 1 year high of $234.33. 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 firm has a 50-day moving average of $179.93 and a 200 day moving average of $179.30. The stock has a market cap of $77.27 billion, a P/E ratio of 26.79, a price-to-earnings-growth ratio of 0.69 and a beta of 0.91.

American Tower (NYSE:AMT) last announced its quarterly earnings data on Tuesday, April 28th. The real estate investment trust reported $2.84 earnings per share for the quarter, topping analysts’ consensus estimates of $1.60 by $1.24. American Tower had a net margin of 26.81% and a return on equity of 27.79%. The business had revenue of $2.74 billion for the quarter, compared to analysts’ expectations of $2.66 billion. During the same quarter in the prior year, the company earned $2.75 earnings per share. The business’s revenue was up 6.8% compared to the same quarter last year. American Tower has set its FY 2026 guidance at 10.900-11.07 EPS. As a group, sell-side analysts expect that American Tower Corporation will post 10.66 EPS for the current fiscal year.

American Tower Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 13th. Investors of record on Friday, June 12th will be paid a $1.79 dividend. The ex-dividend date is Friday, June 12th. This represents a $7.16 annualized dividend and a dividend yield of 4.3%. American Tower’s dividend payout ratio is presently 115.67%.

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.