CIBC Asset Management Inc Has $21.61 Million Stock Position in American Tower Corporation $AMT

CIBC Asset Management Inc grew its holdings in shares of American Tower Corporation (NYSE:AMT) by 56.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 123,088 shares of the real estate investment trust’s stock after purchasing an additional 44,404 shares during the quarter. CIBC Asset Management Inc’s holdings in American Tower were worth $21,611,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of AMT. Brighton Jones LLC raised its holdings 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 valued at $727,000 after buying an additional 2,104 shares in the last quarter. Sivia Capital Partners LLC increased its holdings in shares of American Tower by 34.3% during 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 acquiring an additional 368 shares during the last quarter. United Bank raised its stake in shares of American Tower by 12.7% in the 2nd quarter. United Bank now owns 6,488 shares of the real estate investment trust’s stock valued at $1,434,000 after acquiring an additional 733 shares in the last quarter. Treasurer of the State of North Carolina lifted its holdings in American Tower by 2.2% in the 2nd quarter. Treasurer of the State of North Carolina now owns 218,511 shares of the real estate investment trust’s stock worth $48,295,000 after purchasing an additional 4,778 shares during the last quarter. Finally, Ieq Capital LLC lifted its holdings in American Tower by 52.2% in the 2nd quarter. Ieq Capital LLC now owns 34,248 shares of the real estate investment trust’s stock worth $7,570,000 after purchasing an additional 11,751 shares during the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

Insider Buying and Selling at American Tower

In other news, EVP Ruth T. Dowling sold 556 shares of the stock in a transaction on Tuesday, April 28th. The shares were sold at an average price of $178.48, for a total value of $99,234.88. Following the completion of the transaction, the executive vice president owned 29,877 shares in the company, valued at approximately $5,332,446.96. This represents a 1.83% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Rajesh Kalathur acquired 2,671 shares of American Tower stock in a transaction dated Tuesday, March 10th. The shares were acquired at an average cost of $185.30 per share, with a total value of $494,936.30. Following the completion of the acquisition, the director directly owned 4,936 shares in the company, valued at $914,640.80. This trade represents a 117.92% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 0.08% of the stock is owned by company insiders.

American Tower Stock Up 6.6%

AMT stock opened at $194.34 on Friday. American Tower Corporation has a twelve month low of $165.08 and a twelve month high of $234.33. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 3.07. The company has a market cap of $90.54 billion, a PE ratio of 31.40, a price-to-earnings-growth ratio of 0.76 and a beta of 0.90. The business’s 50-day simple moving average is $178.55 and its 200 day simple moving average is $179.48.

American Tower (NYSE:AMT) last posted its quarterly earnings results on Tuesday, April 28th. The real estate investment trust reported $2.84 EPS for the quarter, beating the consensus estimate of $1.60 by $1.24. American Tower had a return on equity of 27.79% and a net margin of 26.81%.The firm had revenue of $2.74 billion during the quarter, compared to analysts’ expectations of $2.66 billion. During the same quarter in the prior year, the firm posted $2.75 EPS. The company’s revenue for the quarter was up 6.8% on a year-over-year basis. American Tower has set its FY 2026 guidance at 10.900-11.07 EPS. On average, research analysts anticipate that American Tower Corporation will post 10.67 earnings per share for the current year.

American Tower Announces Dividend

The company also recently announced 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. This represents a $7.16 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date is Friday, June 12th. American Tower’s dividend payout ratio is presently 115.67%.

Analyst Ratings Changes

AMT has been the topic of several analyst reports. Scotiabank increased their price target on American Tower from $214.00 to $218.00 and gave the company an “outperform” rating in a report on Wednesday, April 29th. Morgan Stanley reduced their price objective 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. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $195.00 target price on shares of American Tower in a research note on Thursday, April 30th. Weiss Ratings upgraded shares of American Tower from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, May 11th. Finally, Barclays cut their target price on shares of American Tower from $200.00 to $195.00 and set an “equal weight” rating for the company in a research report on Thursday, April 16th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $216.20.

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.