Great Lakes Advisors LLC Boosts Stock Position in American Tower Corporation $AMT

Great Lakes Advisors LLC lifted its holdings in shares of American Tower Corporation (NYSE:AMT) by 4.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 470,536 shares of the real estate investment trust’s stock after buying an additional 20,929 shares during the quarter. Great Lakes Advisors LLC’s holdings in American Tower were worth $76,966,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Diversify Advisory Services LLC purchased a new stake in shares of American Tower during the second quarter worth about $1,610,000. Wealthfront Advisers LLC purchased a new position in American Tower in the 2nd quarter valued at about $11,951,000. Ontario Teachers Pension Plan Board acquired a new stake in American Tower in the 2nd quarter worth about $291,867,000. Mowery & Schoenfeld Wealth Management LLC acquired a new stake in American Tower in the 2nd quarter worth about $33,000. Finally, Park State Asset Management purchased a new stake in American Tower during the 2nd quarter worth approximately $556,000. Institutional investors and hedge funds own 92.69% of the company’s stock.

Insider Transactions at American Tower

In other American Tower news, EVP Ruth T. Dowling sold 1,106 shares of the business’s stock in a transaction dated Wednesday, July 29th. The shares were sold at an average price of $174.96, for a total value 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. The trade was a 3.84% decrease in their position. The transaction was disclosed in a document filed with the SEC, 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 the stock in a transaction that occurred on Wednesday, July 29th. The shares were sold at an average price of $178.89, for a total transaction of $894,450.00. Following the completion of the sale, the chief financial officer directly owned 21,428 shares of the company’s stock, valued at approximately $3,833,254.92. This trade represents a 18.92% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 6,791 shares of company stock worth $1,204,091 over the last ninety days. 0.08% of the stock is owned by insiders.

American Tower Stock Performance

Shares of American Tower stock opened at $172.45 on Wednesday. The business’s 50 day moving average price is $172.11 and its 200 day moving average price is $177.84. The company has a market cap of $80.35 billion, a price-to-earnings ratio of 23.72, a PEG ratio of 2.79 and a beta of 0.90. The company has a debt-to-equity ratio of 3.12, a quick ratio of 0.52 and a current ratio of 0.52. American Tower Corporation has a one year low of $160.06 and a one year high of $214.79.

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

American Tower Announces Dividend

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

Analysts Set New Price Targets

AMT has been the topic of several research reports. BMO Capital Markets raised their target price on American Tower from $190.00 to $195.00 and gave the company a “market perform” rating in a research report on Wednesday, July 29th. Royal Bank Of Canada upgraded American Tower from a “sector perform” rating to an “outperform” rating and boosted their price target for the stock from $195.00 to $205.00 in a research report on Friday, June 26th. Sanford C. Bernstein restated an “outperform” rating and issued a $214.00 price objective on shares of American Tower in a report on Wednesday, July 29th. Truist Financial reaffirmed a “buy” rating and set a $207.00 target price (down from $208.00) on shares of American Tower in a research note on Wednesday, August 12th. Finally, Wolfe Research upgraded 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 research report on Wednesday, July 8th. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $215.14.

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.