Bamco Inc. NY Sells 33,714 Shares of American Tower Corporation $AMT

Bamco Inc. NY decreased its position in American Tower Corporation (NYSE:AMT) by 5.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 534,053 shares of the real estate investment trust’s stock after selling 33,714 shares during the quarter. Bamco Inc. NY owned approximately 0.11% of American Tower worth $102,709,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in AMT. Mirae Asset Global Investments Co. Ltd. increased its position in shares of American Tower by 8.9% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 96,793 shares of the real estate investment trust’s stock valued at $18,615,000 after acquiring an additional 7,872 shares during the last quarter. Eastern Bank boosted its position in American Tower by 69.6% in the third quarter. Eastern Bank now owns 139,091 shares of the real estate investment trust’s stock worth $26,750,000 after purchasing an additional 57,078 shares during the last quarter. Machina Capital S.A.S. bought a new position in American Tower in the 3rd quarter valued at $2,871,000. Krilogy Financial LLC bought a new position in American Tower in the 3rd quarter valued at $1,044,000. Finally, Commerzbank Aktiengesellschaft FI increased its position in shares of American Tower by 92.4% during the 3rd quarter. Commerzbank Aktiengesellschaft FI now owns 61,397 shares of the real estate investment trust’s stock valued at $11,808,000 after purchasing an additional 29,486 shares during the last quarter. Hedge funds and other institutional investors own 92.69% of the company’s stock.

American Tower Trading Up 2.5%

Shares of AMT opened at $184.39 on Friday. American Tower Corporation has a fifty-two week low of $166.88 and a fifty-two week high of $234.33. The business has a 50-day moving average of $181.42 and a 200 day moving average of $184.09. The firm has a market cap of $85.94 billion, a P/E ratio of 34.21, a price-to-earnings-growth ratio of 0.77 and a beta of 0.92. The company has a debt-to-equity ratio of 3.27, a quick ratio of 0.60 and a current ratio of 0.60.

American Tower (NYSE:AMT) last released its quarterly earnings data 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). The business had revenue of $2.74 billion for the quarter, compared to analysts’ expectations of $2.69 billion. American Tower had a net margin of 23.76% and a return on equity of 24.36%. American Tower’s revenue for the quarter was up 7.5% compared to the same quarter last year. During the same period last year, the company earned $2.62 earnings per share. American Tower has set its FY 2026 guidance at 10.780-10.950 EPS. As a group, research analysts forecast that American Tower Corporation will post 10.14 EPS for the current year.

American Tower Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 28th. Shareholders of record on Tuesday, April 14th will be issued a dividend of $1.79 per share. This represents a $7.16 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date of this dividend is Tuesday, April 14th. This is a positive change from American Tower’s previous quarterly dividend of $1.70. American Tower’s payout ratio is presently 132.84%.

Insider Transactions at American Tower

In other news, Director Rajesh Kalathur purchased 2,671 shares of the stock in a transaction dated Tuesday, March 10th. The shares were purchased at an average cost of $185.30 per share, with a total value of $494,936.30. Following the completion of the acquisition, the director owned 4,936 shares in the company, valued at $914,640.80. This represents a 117.92% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, COO Eugene M. Noel sold 41,209 shares of the business’s stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $191.05, for a total transaction of $7,872,979.45. Following the transaction, the chief operating officer directly owned 29,592 shares of the company’s stock, valued at approximately $5,653,551.60. This represents a 58.20% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.17% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on AMT. Royal Bank Of Canada lowered their target price on American Tower from $220.00 to $195.00 and set a “sector perform” rating on the stock in a research note on Monday, January 12th. Jefferies Financial Group increased their price target on shares of American Tower from $200.00 to $209.00 and gave the company a “buy” rating in a research report on Thursday, February 26th. UBS Group lowered their price objective on shares of American Tower from $254.00 to $248.00 and set a “buy” rating on the stock in a research report on Wednesday, February 25th. Barclays reiterated an “equal weight” rating and issued a $200.00 target price (down from $203.00) on shares of American Tower in a research note on Monday, December 1st. Finally, Mizuho reduced their target price on shares of American Tower from $217.00 to $189.00 and set a “neutral” rating for the company in a research report on Monday, January 12th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target 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.