DNB Asset Management AS Buys 3,218 Shares of American Tower Corporation $AMT

DNB Asset Management AS boosted its stake in shares of American Tower Corporation (NYSE:AMT) by 2.8% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 116,574 shares of the real estate investment trust’s stock after purchasing an additional 3,218 shares during the period. DNB Asset Management AS’s holdings in American Tower were worth $22,420,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently made changes to their positions in the stock. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of American Tower by 8.9% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 96,793 shares of the real estate investment trust’s stock valued at $18,615,000 after purchasing an additional 7,872 shares during the last quarter. Eastern Bank lifted its stake in shares of American Tower by 69.6% during the 3rd quarter. Eastern Bank now owns 139,091 shares of the real estate investment trust’s stock worth $26,750,000 after buying an additional 57,078 shares during the last quarter. Machina Capital S.A.S. bought a new stake in shares of American Tower during the 3rd quarter worth about $2,871,000. Commerzbank Aktiengesellschaft FI grew its stake in American Tower by 92.4% in the 3rd quarter. Commerzbank Aktiengesellschaft FI now owns 61,397 shares of the real estate investment trust’s stock valued at $11,808,000 after buying an additional 29,486 shares during the last quarter. Finally, Krilogy Financial LLC bought a new position in American Tower in the 3rd quarter valued at about $1,044,000. Institutional investors and hedge funds own 92.69% of the company’s stock.

Insiders Place Their Bets

In other American Tower news, major shareholder Tower Corp /Ma/ American sold 2,288,621 shares of the stock in a transaction dated Tuesday, December 9th. The shares were sold at an average price of $69.75, for a total transaction of $159,631,314.75. Following the sale, the insider directly owned 211,379 shares in the company, valued at $14,743,685.25. This represents a 91.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.17% of the stock is owned by corporate insiders.

American Tower Trading Up 3.6%

Shares of AMT stock opened at $191.72 on Friday. The stock has a market cap of $89.76 billion, a P/E ratio of 35.57, a price-to-earnings-growth ratio of 0.78 and a beta of 0.93. American Tower Corporation has a 1 year low of $166.88 and a 1 year high of $234.33. The company has a current ratio of 0.60, a quick ratio of 0.89 and a debt-to-equity ratio of 3.27. The stock has a 50 day simple moving average of $179.11 and a 200 day simple moving average of $185.66.

American Tower (NYSE:AMT) last announced its quarterly earnings data 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 analyst estimates of $2.69 billion. American Tower had a net margin of 23.76% and a return on equity of 24.36%. American Tower’s revenue was up 7.5% on a year-over-year basis. During the same period in the prior year, the firm earned $2.62 earnings per share. American Tower has set its FY 2026 guidance at 10.780-10.950 EPS. On average, research analysts predict that American Tower Corporation will post 10.14 earnings per share for the current fiscal year.

American Tower Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on AMT shares. BMO Capital Markets raised their price objective on shares of American Tower from $185.00 to $200.00 and gave the stock a “market perform” rating in a research report on Wednesday. UBS Group lowered their target price on American Tower from $254.00 to $248.00 and set a “buy” rating on the stock in a research note on Wednesday. Barclays restated an “equal weight” rating and issued a $200.00 price target (down from $203.00) on shares of American Tower in a research note on Monday, December 1st. New Street Research raised American Tower from a “neutral” rating to a “buy” rating and set a $203.00 price objective on the stock in a report on Monday, January 5th. Finally, The Goldman Sachs Group dropped their target price on American Tower from $230.00 to $210.00 and set a “buy” rating for the company in a report on Friday, January 16th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, American Tower currently has an average rating of “Moderate Buy” and a consensus target price of $218.00.

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.