Davis R M Inc. Raises Stock Position in American Tower Corporation $AMT

Davis R M Inc. grew its position in American Tower Corporation (NYSE:AMT) by 1.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 289,155 shares of the real estate investment trust’s stock after buying an additional 4,008 shares during the period. Davis R M Inc. owned 0.06% of American Tower worth $49,902,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Raleigh Capital Management Inc. boosted its holdings in American Tower by 489.1% during the 1st quarter. Raleigh Capital Management Inc. now owns 13,703 shares of the real estate investment trust’s stock valued at $2,365,000 after acquiring an additional 11,377 shares during the period. Canal Capital Management LLC increased its stake in American Tower by 81.9% during the first quarter. Canal Capital Management LLC now owns 34,471 shares of the real estate investment trust’s stock worth $5,949,000 after purchasing an additional 15,520 shares during the period. Bernzott Capital Advisors lifted its position in shares of American Tower by 29.3% during the first quarter. Bernzott Capital Advisors now owns 42,161 shares of the real estate investment trust’s stock worth $7,276,000 after purchasing an additional 9,556 shares in the last quarter. Legal & General Group Plc boosted its stake in shares of American Tower by 4.7% in the fourth quarter. Legal & General Group Plc now owns 4,873,695 shares of the real estate investment trust’s stock valued at $855,675,000 after purchasing an additional 220,447 shares during the period. Finally, Rathbones Group PLC boosted its stake in shares of American Tower by 14.9% in the fourth quarter. Rathbones Group PLC now owns 474,216 shares of the real estate investment trust’s stock valued at $83,258,000 after purchasing an additional 61,428 shares during the period. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Wall Street Analysts Forecast Growth

AMT has been the topic of several recent research reports. Jefferies Financial Group upped 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. Citizens Jmp reissued a “market outperform” rating and issued a $260.00 price target on shares of American Tower in a research report on Wednesday, April 29th. Weiss Ratings upgraded shares of American Tower from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, July 14th. JPMorgan Chase & Co. cut their price objective on American Tower from $245.00 to $240.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 29th. Finally, Wolfe Research upgraded American Tower from a “peer perform” rating to an “outperform” rating and set a $188.00 price objective on the stock in a research note on Wednesday, July 8th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $215.57.

Insider Activity

In other news, EVP Ruth T. Dowling sold 556 shares of the stock in a transaction dated Tuesday, April 28th. The stock was sold at an average price of $178.48, for a total value of $99,234.88. Following 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 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 Price Performance

Shares of AMT opened at $166.24 on Thursday. The firm has a market capitalization of $77.45 billion, a price-to-earnings ratio of 26.86, a PEG ratio of 0.68 and a beta of 0.91. The firm’s fifty day simple moving average is $176.97 and its 200-day simple moving average is $178.50. American Tower Corporation has a twelve month low of $160.06 and a twelve month 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 earnings results on Tuesday, April 28th. The real estate investment trust reported $2.84 EPS for the quarter, topping analysts’ consensus estimates of $1.60 by $1.24. The firm 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%. The company’s revenue was up 6.8% compared to the same quarter last year. During the same quarter 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. Equities analysts forecast that American Tower Corporation will post 10.66 EPS for the current fiscal year.

American Tower Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, July 13th. Shareholders of record on Friday, June 12th were issued a dividend of $1.79 per share. This represents a $7.16 dividend on an annualized basis and a yield of 4.3%. The ex-dividend date of this dividend was Friday, June 12th. American Tower’s payout ratio is 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.