American Tower Corporation $AMT Shares Acquired by Vestcor Inc

Vestcor Inc increased its stake in American Tower Corporation (NYSE:AMT) by 3.8% during the fourth quarter, HoldingsChannel.com reports. The fund owned 78,529 shares of the real estate investment trust’s stock after buying an additional 2,905 shares during the period. Vestcor Inc’s holdings in American Tower were worth $13,787,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of AMT. Krilogy Financial LLC purchased a new position in American Tower during the 3rd quarter valued at about $1,044,000. ABC Arbitrage SA purchased a new position in American Tower during the 3rd quarter valued at about $4,093,000. ING Groep NV increased its holdings in American Tower by 5,413.1% during the 3rd quarter. ING Groep NV now owns 60,534 shares of the real estate investment trust’s stock valued at $11,642,000 after purchasing an additional 59,436 shares during the period. Azzad Asset Management Inc. ADV increased its holdings in American Tower by 60.2% during the 3rd quarter. Azzad Asset Management Inc. ADV now owns 8,577 shares of the real estate investment trust’s stock valued at $1,649,000 after purchasing an additional 3,224 shares during the period. Finally, Vanguard Group Inc. increased its holdings in American Tower by 1.0% during the 3rd quarter. Vanguard Group Inc. now owns 63,640,168 shares of the real estate investment trust’s stock valued at $12,239,277,000 after purchasing an additional 611,801 shares during the period. 92.69% of the stock is currently owned by institutional investors and hedge funds.

American Tower Stock Down 0.0%

AMT stock opened at $193.88 on Friday. American Tower Corporation has a fifty-two week low of $165.08 and a fifty-two week high of $234.33. The business’s 50 day moving average price is $179.08 and its two-hundred day moving average price is $179.58. The company has a debt-to-equity ratio of 3.07, a quick ratio of 0.43 and a current ratio of 0.43. The company has a market capitalization of $90.33 billion, a price-to-earnings ratio of 31.32, a price-to-earnings-growth ratio of 0.81 and a beta of 0.90.

American Tower (NYSE:AMT) last posted its 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. 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 for the quarter, compared to the consensus estimate of $2.66 billion. During the same quarter in the prior year, the business earned $2.75 EPS. The business’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. As a group, analysts forecast that American Tower Corporation will post 10.67 earnings per share for the current fiscal year.

American Tower Dividend Announcement

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

Analyst Ratings Changes

A number of brokerages recently issued reports on AMT. UBS Group reduced their price target on American Tower from $254.00 to $248.00 and set a “buy” rating on the stock in a report on Wednesday, February 25th. Scotiabank boosted 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. Barclays reduced their target price on American Tower from $200.00 to $195.00 and set an “equal weight” rating on the stock in a report on Thursday, April 16th. Mizuho upgraded American Tower from a “neutral” rating to an “outperform” rating and upped their target price for the stock from $189.00 to $205.00 in a report on Wednesday, April 15th. Finally, Jefferies Financial Group upped their target price on American Tower from $209.00 to $210.00 and gave the stock a “buy” rating in a report on Tuesday, April 14th. One investment 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 company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $216.20.

Insider Activity at American Tower

In related news, Director Rajesh Kalathur purchased 2,671 shares of the business’s stock in a transaction that occurred on Tuesday, March 10th. The shares were bought at an average price of $185.30 per share, for a total transaction of $494,936.30. Following the purchase, the director directly owned 4,936 shares of the company’s stock, valued at approximately $914,640.80. This represents a 117.92% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Ruth T. Dowling sold 416 shares of the company’s stock in a transaction that occurred on Wednesday, April 29th. The stock was sold at an average price of $177.54, for a total value of $73,856.64. Following the completion of the sale, the executive vice president owned 29,461 shares in the company, valued at $5,230,505.94. The trade was a 1.39% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.08% of the company’s stock.

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.