11,741 Shares in American Tower Corporation $AMT Purchased by Bleakley Financial Group LLC

Bleakley Financial Group LLC purchased a new position in shares of American Tower Corporation (NYSE:AMT) during the first quarter, HoldingsChannel reports. The firm purchased 11,741 shares of the real estate investment trust’s stock, valued at approximately $2,026,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Riverwater Partners LLC lifted its position in shares of American Tower by 3.8% in the fourth quarter. Riverwater Partners LLC now owns 1,536 shares of the real estate investment trust’s stock valued at $270,000 after buying an additional 56 shares during the last quarter. Triumph Capital Management increased its holdings in shares of American Tower by 37.3% during the 4th quarter. Triumph Capital Management now owns 206 shares of the real estate investment trust’s stock worth $36,000 after acquiring an additional 56 shares during the last quarter. Personal CFO Solutions LLC increased its holdings in shares of American Tower by 3.5% during the 4th quarter. Personal CFO Solutions LLC now owns 1,667 shares of the real estate investment trust’s stock worth $293,000 after acquiring an additional 57 shares during the last quarter. Twin City Private Wealth LLC raised its stake in American Tower by 0.7% in the 4th quarter. Twin City Private Wealth LLC now owns 7,799 shares of the real estate investment trust’s stock valued at $1,382,000 after acquiring an additional 58 shares during the period. Finally, Asset Advisory Group Inc. raised its stake in American Tower by 3.0% in the 1st quarter. Asset Advisory Group Inc. now owns 2,072 shares of the real estate investment trust’s stock valued at $358,000 after acquiring an additional 60 shares during the period. Institutional investors own 92.69% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Barclays reduced their price objective 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. Sanford C. Bernstein raised shares of American Tower from a “market perform” rating to an “outperform” rating and set a $207.00 price objective on the stock in a research report on Tuesday, May 19th. Jefferies Financial Group raised their target price on shares of American Tower from $209.00 to $210.00 and gave the stock a “buy” rating in a research note on Tuesday, April 14th. Wolfe Research raised shares of American Tower from a “peer perform” rating to an “outperform” rating and set a $188.00 target price for the company in a report on Wednesday, July 8th. Finally, Raymond James Financial reiterated a “strong-buy” rating and issued a $240.00 price target on shares of American Tower in a research note on Wednesday, April 29th. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, American Tower has an average rating of “Moderate Buy” and an average target price of $215.57.

Insider Transactions at American Tower

In other news, EVP Ruth T. Dowling sold 416 shares of the company’s stock in a transaction on Wednesday, April 29th. The stock was sold at an average price of $177.54, for a total transaction of $73,856.64. Following the completion of the sale, the executive vice president directly owned 29,461 shares in the company, valued at approximately $5,230,505.94. This represents a 1.39% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.08% of the stock is owned by corporate insiders.

American Tower Stock Performance

NYSE:AMT opened at $168.87 on Friday. The stock has a 50 day simple moving average of $177.77 and a 200 day simple moving average of $178.76. The stock has a market cap of $78.68 billion, a P/E ratio of 27.28, a PEG ratio of 0.70 and a beta of 0.91. American Tower Corporation has a 1-year low of $160.06 and a 1-year high of $234.33. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 3.07.

American Tower (NYSE:AMT) last issued its quarterly earnings data on Tuesday, April 28th. The real estate investment trust reported $2.84 EPS for the quarter, beating analysts’ consensus estimates of $1.60 by $1.24. The firm had revenue of $2.74 billion for the quarter, compared to analyst estimates of $2.66 billion. American Tower had a return on equity of 27.79% and a net margin of 26.81%.The company’s revenue for the quarter was up 6.8% on a year-over-year basis. During the same period in the prior year, the firm posted $2.75 EPS. American Tower has set its FY 2026 guidance at 10.900-11.07 EPS. Research analysts anticipate that American Tower Corporation will post 10.66 earnings per share for the current year.

American Tower Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 13th. Shareholders of record on Friday, June 12th were issued a $1.79 dividend. The ex-dividend date of this dividend was Friday, June 12th. This represents a $7.16 dividend on an annualized basis and a yield of 4.2%. American Tower’s payout ratio is currently 115.67%.

About American Tower

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.