Great Lakes Advisors LLC Boosts Stock Holdings in American Tower Corporation $AMT

Great Lakes Advisors LLC increased its holdings in shares of American Tower Corporation (NYSE:AMT) by 4.7% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 470,536 shares of the real estate investment trust’s stock after purchasing an additional 20,929 shares during the period. Great Lakes Advisors LLC owned 0.10% of American Tower worth $76,966,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. Raleigh Capital Management Inc. raised its position in shares of American Tower by 489.1% in the 1st quarter. Raleigh Capital Management Inc. now owns 13,703 shares of the real estate investment trust’s stock valued at $2,365,000 after purchasing an additional 11,377 shares during the last quarter. Canal Capital Management LLC increased its stake in American Tower by 81.9% during the 1st quarter. Canal Capital Management LLC now owns 34,471 shares of the real estate investment trust’s stock valued at $5,949,000 after purchasing an additional 15,520 shares in the last quarter. Bernzott Capital Advisors raised its holdings in shares of American Tower by 29.3% in the first quarter. Bernzott Capital Advisors now owns 42,161 shares of the real estate investment trust’s stock worth $7,276,000 after buying an additional 9,556 shares during the last quarter. Legal & General Group Plc raised its holdings in shares of American Tower by 4.7% in the fourth quarter. Legal & General Group Plc now owns 4,873,695 shares of the real estate investment trust’s stock worth $855,675,000 after buying an additional 220,447 shares during the last quarter. Finally, Swiss Life Asset Management Ltd lifted its stake in shares of American Tower by 13.9% during the fourth quarter. Swiss Life Asset Management Ltd now owns 101,993 shares of the real estate investment trust’s stock worth $17,907,000 after buying an additional 12,464 shares during the period. 92.69% of the stock is owned by hedge funds and other institutional investors.

American Tower Trading Up 0.1%

NYSE AMT opened at $172.45 on Wednesday. The company has a market capitalization of $80.35 billion, a PE ratio of 23.72, a P/E/G ratio of 2.79 and a beta of 0.90. The company has a fifty day moving average of $172.11 and a 200 day moving average of $177.84. American Tower Corporation has a 1 year low of $160.06 and a 1 year high of $214.79. The company has a debt-to-equity ratio of 3.12, a current ratio of 0.52 and a quick ratio of 0.52.

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

American Tower Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, July 13th. Investors of record on Friday, June 12th were given a dividend of $1.79 per share. This represents a $7.16 annualized dividend and a yield of 4.2%. The ex-dividend date was Friday, June 12th. American Tower’s dividend payout ratio (DPR) is currently 98.49%.

Insider Buying and Selling

In related news, EVP Ruth T. Dowling sold 1,106 shares of the business’s stock in a transaction on Wednesday, July 29th. The shares were sold at an average price of $174.96, for a total value of $193,505.76. Following the completion of the transaction, the executive vice president directly owned 27,711 shares in the company, valued at $4,848,316.56. The trade was a 3.84% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Robert Joseph Meyer sold 5,000 shares of the stock in a transaction on Wednesday, July 29th. The stock was sold at an average price of $178.89, for a total transaction of $894,450.00. Following the sale, the chief financial officer directly owned 21,428 shares in the company, valued at $3,833,254.92. This trade represents a 18.92% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 6,791 shares of company stock valued at $1,204,091 over the last three months. 0.08% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. BMO Capital Markets upped their target price on American Tower from $190.00 to $195.00 and gave the company a “market perform” rating in a research report on Wednesday, July 29th. Truist Financial reiterated a “buy” rating and set a $207.00 price target (down from $208.00) on shares of American Tower in a research note on Wednesday, August 12th. Raymond James Financial reissued a “strong-buy” rating and issued a $240.00 price objective on shares of American Tower in a report on Wednesday, April 29th. JPMorgan Chase & Co. reduced their price objective on American Tower from $245.00 to $240.00 and set an “overweight” rating for the company in a research note on Wednesday, April 29th. Finally, TD Cowen lifted their target price on American Tower from $225.00 to $227.00 and gave the stock a “buy” rating in a report on Wednesday, July 29th. 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 company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $215.14.

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.