Inspire Trust Co. N.A. Buys 3,000 Shares of American Tower Corporation $AMT

Inspire Trust Co. N.A. grew its stake in American Tower Corporation (NYSE:AMT) by 24.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 15,400 shares of the real estate investment trust’s stock after acquiring an additional 3,000 shares during the period. Inspire Trust Co. N.A.’s holdings in American Tower were worth $2,704,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of AMT. Northwestern Mutual Wealth Management Co. raised its stake in shares of American Tower by 20,721.6% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 9,712,672 shares of the real estate investment trust’s stock worth $1,705,254,000 after acquiring an additional 9,666,025 shares during the last quarter. Lazard Asset Management LLC raised its stake in shares of American Tower by 1,984.8% in the third quarter. Lazard Asset Management LLC now owns 4,464,382 shares of the real estate investment trust’s stock worth $858,552,000 after acquiring an additional 4,250,242 shares during the last quarter. Viking Global Investors LP raised its stake in shares of American Tower by 233.5% in the second quarter. Viking Global Investors LP now owns 2,797,125 shares of the real estate investment trust’s stock worth $618,221,000 after acquiring an additional 1,958,329 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC bought a new position in shares of American Tower in the third quarter worth about $305,872,000. Finally, Arrowstreet Capital Limited Partnership raised its stake in shares of American Tower by 35.0% in the third quarter. Arrowstreet Capital Limited Partnership now owns 2,796,007 shares of the real estate investment trust’s stock worth $537,728,000 after acquiring an additional 724,504 shares during the last quarter. 92.69% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Sanford C. Bernstein raised 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 research note on Tuesday, May 19th. Scotiabank boosted their target price on shares of American Tower from $214.00 to $218.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 29th. Truist Financial boosted their target price on shares of American Tower from $205.00 to $208.00 and gave the stock a “buy” rating in a research note on Thursday, April 30th. Royal Bank Of Canada reiterated a “sector perform” rating and set a $195.00 price target on shares of American Tower in a research report on Thursday, April 30th. Finally, Morgan Stanley dropped their price target on shares of American Tower from $225.00 to $220.00 and set an “overweight” rating for the company in a research note on Wednesday, February 25th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, American Tower presently has a consensus rating of “Moderate Buy” and an average target price of $216.20.

American Tower Trading Up 1.1%

AMT opened at $187.00 on Friday. 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 market cap of $87.12 billion, a price-to-earnings ratio of 30.21, a price-to-earnings-growth ratio of 0.77 and a beta of 0.90. The firm has a 50 day simple moving average of $177.55 and a 200 day simple moving average of $179.31. American Tower Corporation has a fifty-two week low of $165.08 and a fifty-two week high of $234.33.

American Tower (NYSE:AMT) last posted its quarterly earnings results 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. The business had revenue of $2.74 billion during the quarter, compared to the consensus estimate of $2.66 billion. American Tower had a net margin of 26.81% and a return on equity of 27.79%. American Tower’s revenue for the quarter was up 6.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.75 earnings per share. American Tower has set its FY 2026 guidance at 10.900-11.07 EPS. On average, sell-side analysts anticipate that American Tower Corporation will post 10.67 earnings per share for the current year.

American Tower Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, July 13th. Stockholders of record on Friday, June 12th will be paid a $1.79 dividend. The ex-dividend date of this dividend is Friday, June 12th. This represents a $7.16 dividend on an annualized basis and a dividend yield of 3.8%. American Tower’s dividend payout ratio is 115.67%.

Insider Activity

In other news, Director Rajesh Kalathur acquired 2,671 shares of the firm’s stock in a transaction that occurred on Tuesday, March 10th. The stock was purchased at an average price of $185.30 per share, for a total transaction of $494,936.30. Following the completion of the acquisition, the director owned 4,936 shares in the company, valued at $914,640.80. This trade represents a 117.92% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, COO Eugene M. Noel sold 41,209 shares of the business’s stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $191.05, for a total transaction of $7,872,979.45. Following the transaction, the chief operating officer owned 29,592 shares of the company’s stock, valued at approximately $5,653,551.60. This represents a 58.20% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 42,181 shares of company stock valued at $8,046,071 in the last ninety days. 0.08% of the stock is owned by insiders.

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.