NZS Capital LLC Increases Holdings in American Tower Corporation $AMT

NZS Capital LLC boosted its stake in shares of American Tower Corporation (NYSE:AMT) by 31.6% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 440,213 shares of the real estate investment trust’s stock after purchasing an additional 105,789 shares during the quarter. American Tower accounts for 2.6% of NZS Capital LLC’s investment portfolio, making the stock its 14th largest position. NZS Capital LLC’s holdings in American Tower were worth $84,662,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of AMT. Brighton Jones LLC raised its stake in American Tower by 113.0% during the fourth quarter. Brighton Jones LLC now owns 3,966 shares of the real estate investment trust’s stock worth $727,000 after purchasing an additional 2,104 shares during the period. Sivia Capital Partners LLC grew its stake in shares of American Tower by 34.3% in the 2nd quarter. Sivia Capital Partners LLC now owns 1,442 shares of the real estate investment trust’s stock valued at $319,000 after buying an additional 368 shares during the period. United Bank increased its holdings in shares of American Tower by 12.7% during the 2nd quarter. United Bank now owns 6,488 shares of the real estate investment trust’s stock worth $1,434,000 after buying an additional 733 shares during the last quarter. Pinnacle Associates Ltd. raised its position in shares of American Tower by 4.0% during the 2nd quarter. Pinnacle Associates Ltd. now owns 4,551 shares of the real estate investment trust’s stock valued at $1,006,000 after buying an additional 175 shares during the period. Finally, Mission Wealth Management LP lifted its holdings in American Tower by 6.3% in the second quarter. Mission Wealth Management LP now owns 3,239 shares of the real estate investment trust’s stock valued at $716,000 after acquiring an additional 191 shares during the last quarter. 92.69% of the stock is owned by institutional investors and hedge funds.

American Tower Price Performance

AMT opened at $190.16 on Wednesday. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 3.27. The firm has a market cap of $89.02 billion, a price-to-earnings ratio of 35.28, a PEG ratio of 0.80 and a beta of 0.92. The stock’s 50-day moving average price is $179.78 and its 200 day moving average price is $185.19. American Tower Corporation has a 12-month low of $166.88 and a 12-month high of $234.33.

American Tower (NYSE:AMT) last posted its quarterly earnings data on Tuesday, February 24th. The real estate investment trust reported $1.75 EPS for the quarter, missing the consensus estimate of $2.54 by ($0.79). The business had revenue of $2.74 billion during the quarter, compared to analysts’ expectations of $2.69 billion. American Tower had a net margin of 23.76% and a return on equity of 24.36%. The company’s revenue for the quarter was up 7.5% compared to the same quarter last year. During the same period in the previous year, the business posted $2.62 EPS. American Tower has set its FY 2026 guidance at 10.780-10.950 EPS. As a group, sell-side analysts expect that American Tower Corporation will post 10.14 earnings per share for the current year.

American Tower Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, February 2nd. Shareholders of record on Monday, December 29th were paid a $1.70 dividend. The ex-dividend date was Monday, December 29th. This represents a $6.80 annualized dividend and a dividend yield of 3.6%. American Tower’s payout ratio is 126.16%.

Insider Buying and Selling at American Tower

In other news, major shareholder Tower Corp /Ma/ American sold 2,288,621 shares of the company’s stock in a transaction on Tuesday, December 9th. The stock was sold at an average price of $69.75, for a total transaction of $159,631,314.75. Following the sale, the insider owned 211,379 shares of the company’s stock, valued at approximately $14,743,685.25. This represents a 91.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.18% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on AMT. The Goldman Sachs Group cut their target price on American Tower from $230.00 to $210.00 and set a “buy” rating for the company in a research note on Friday, January 16th. Scotiabank lowered their price target on American Tower from $220.00 to $214.00 and set a “sector outperform” rating for the company in a report on Wednesday, February 25th. UBS Group cut their price objective on American Tower from $254.00 to $248.00 and set a “buy” rating for the company in a research report on Wednesday, February 25th. Royal Bank Of Canada decreased their target price on shares of American Tower from $220.00 to $195.00 and set a “sector perform” rating on the stock in a research report on Monday, January 12th. Finally, Barclays reaffirmed an “equal weight” rating and set a $200.00 target price (down from $203.00) on shares of American Tower in a research note on Monday, December 1st. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $218.00.

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.