3,400 Shares in American Tower Corporation $AMT Acquired by Park State Asset Management

Park State Asset Management bought a new stake in American Tower Corporation (NYSE:AMT) during the second quarter, Holdings Channel.com reports. The fund bought 3,400 shares of the real estate investment trust’s stock, valued at approximately $556,000. American Tower accounts for approximately 0.5% of Park State Asset Management’s holdings, making the stock its 19th largest position.

Other hedge funds have also bought and sold shares of the company. Richards Merrill & Peterson Inc. bought a new position in shares of American Tower in the 4th quarter worth $25,000. Oakworth Capital Inc. lifted its holdings in shares of American Tower by 90.7% during the 4th quarter. Oakworth Capital Inc. now owns 143 shares of the real estate investment trust’s stock worth $25,000 after acquiring an additional 68 shares during the last quarter. Swiss RE Ltd. bought a new stake in shares of American Tower during the 4th quarter worth $25,000. Allied Private Wealth LLC purchased a new position in American Tower in the second quarter worth $29,000. Finally, Triumph Capital Management bought a new position in American Tower in the third quarter valued at $29,000. 92.69% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have weighed in on AMT shares. Citizens Jmp restated a “market outperform” rating and set a $260.00 price target on shares of American Tower in a research report on Wednesday, April 29th. Jefferies Financial Group cut their price objective on American Tower from $210.00 to $201.00 and set a “buy” rating for the company in a report on Wednesday, July 15th. JPMorgan Chase & Co. decreased their price objective on American Tower from $245.00 to $240.00 and set an “overweight” rating on the stock in a report on Wednesday, April 29th. Weiss Ratings upgraded American Tower from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, July 14th. Finally, The Goldman Sachs Group set a $210.00 target price on American Tower in a research note on Tuesday, July 28th. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $215.14.

American Tower Price Performance

Shares of NYSE:AMT opened at $172.45 on Wednesday. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 3.12. The stock has a market cap of $80.35 billion, a PE ratio of 23.72, a PEG ratio of 2.79 and a beta of 0.90. The company’s fifty day moving average is $172.11 and its 200 day moving average is $177.84. American Tower Corporation has a 52 week low of $160.06 and a 52 week high of $214.79.

American Tower (NYSE:AMT) last posted its quarterly earnings results on Tuesday, July 28th. The real estate investment trust reported $2.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.57 by $1.14. American Tower had a net margin of 31.08% and a return on equity of 32.76%. The business had revenue of $2.75 billion during the quarter, compared to analyst estimates of $2.70 billion. During the same period in the prior year, the business posted $2.60 earnings per share. The company’s revenue was up 4.6% on a year-over-year basis. American Tower has set its FY 2026 guidance at 11.000-11.170 EPS. Research analysts anticipate that American Tower Corporation will post 10.78 earnings per share for the current year.

American Tower Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, July 13th. Investors of record on Friday, June 12th were issued a dividend of $1.79 per share. The ex-dividend date was Friday, June 12th. This represents a $7.16 annualized dividend and a yield of 4.2%. American Tower’s dividend payout ratio is currently 98.49%.

Insider Activity at American Tower

In related news, EVP Ruth T. Dowling sold 1,106 shares of the firm’s stock in a transaction that occurred on Wednesday, July 29th. The stock was sold at an average price of $174.96, for a total transaction of $193,505.76. Following the transaction, the executive vice president directly owned 27,711 shares in the company, valued at $4,848,316.56. This trade represents a 3.84% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Robert Joseph Meyer sold 5,000 shares of American Tower stock in a transaction that occurred on Wednesday, July 29th. The stock was sold at an average price of $178.89, for a total value of $894,450.00. Following the completion of the transaction, the chief financial officer directly owned 21,428 shares in the company, valued at $3,833,254.92. This trade represents a 18.92% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 6,791 shares of company stock worth $1,204,091. 0.08% of the stock is owned by corporate insiders.

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.