American Tower Corporation $AMT Shares Acquired by Van ECK Associates Corp

Van ECK Associates Corp lifted its holdings in shares of American Tower Corporation (NYSE:AMT) by 12.6% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 166,297 shares of the real estate investment trust’s stock after acquiring an additional 18,656 shares during the period. Van ECK Associates Corp’s holdings in American Tower were worth $31,982,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Abound Wealth Management grew its position in shares of American Tower by 137.3% in the 3rd quarter. Abound Wealth Management now owns 140 shares of the real estate investment trust’s stock valued at $27,000 after buying an additional 81 shares during the last quarter. VSM Wealth Advisory LLC grew its holdings in shares of American Tower by 136.4% during the second quarter. VSM Wealth Advisory LLC now owns 156 shares of the real estate investment trust’s stock worth $34,000 after purchasing an additional 90 shares during the last quarter. Root Financial Partners LLC acquired a new stake in shares of American Tower during the third quarter worth about $32,000. Westside Investment Management Inc. lifted its holdings in shares of American Tower by 103.6% in the 3rd quarter. Westside Investment Management Inc. now owns 169 shares of the real estate investment trust’s stock valued at $33,000 after purchasing an additional 86 shares during the last quarter. Finally, Physician Wealth Advisors Inc. boosted its position in shares of American Tower by 85.9% in the 3rd quarter. Physician Wealth Advisors Inc. now owns 171 shares of the real estate investment trust’s stock valued at $33,000 after purchasing an additional 79 shares during the period. 92.69% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, COO Eugene M. Noel sold 41,209 shares of American Tower stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $191.05, for a total transaction of $7,872,979.45. Following the completion of the transaction, the chief operating officer directly owned 29,592 shares of the company’s stock, valued at approximately $5,653,551.60. The trade was a 58.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 0.17% of the stock is owned by insiders.

American Tower Stock Down 1.8%

American Tower stock opened at $182.82 on Thursday. The company has a debt-to-equity ratio of 3.27, a current ratio of 0.60 and a quick ratio of 0.60. American Tower Corporation has a 1-year low of $166.88 and a 1-year high of $234.33. The company has a market cap of $85.21 billion, a PE ratio of 33.92, a price-to-earnings-growth ratio of 0.78 and a beta of 0.92. The stock’s 50 day moving average price is $181.14 and its 200 day moving average price is $184.47.

American Tower (NYSE:AMT) last issued its earnings results on Tuesday, February 24th. The real estate investment trust reported $1.75 EPS for the quarter, missing the consensus estimate of $2.54 by ($0.79). American Tower had a return on equity of 24.36% and a net margin of 23.76%.The company had revenue of $2.74 billion for the quarter, compared to analysts’ expectations of $2.69 billion. During the same quarter in the previous year, the firm posted $2.62 earnings per share. American Tower’s revenue for the quarter was up 7.5% on a year-over-year basis. American Tower has set its FY 2026 guidance at 10.780-10.950 EPS. On average, sell-side analysts predict that American Tower Corporation will post 10.14 EPS for the current fiscal year.

American Tower Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 28th. Investors of record on Tuesday, April 14th will be issued a $1.79 dividend. The ex-dividend date is Tuesday, April 14th. This represents a $7.16 dividend on an annualized basis and a dividend yield of 3.9%. This is an increase from American Tower’s previous quarterly dividend of $1.70. American Tower’s payout ratio is currently 132.84%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. The Goldman Sachs Group reduced their price target on shares of American Tower from $230.00 to $210.00 and set a “buy” rating for the company in a research report on Friday, January 16th. Raymond James Financial reduced their target price on shares of American Tower from $231.00 to $229.00 and set a “strong-buy” rating for the company in a report on Friday, January 23rd. Scotiabank decreased their target price on shares of American Tower from $220.00 to $214.00 and set a “sector outperform” rating for the company in a research note on Wednesday, February 25th. Sanford C. Bernstein assumed coverage on American Tower in a research report on Thursday, March 5th. They issued a “market perform” rating and a $205.00 price target on the stock. Finally, Jefferies Financial Group increased their price objective on American Tower from $200.00 to $209.00 and gave the stock a “buy” rating in a research report on Thursday, February 26th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, American Tower has a consensus rating of “Moderate Buy” and an average target price of $217.35.

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.