Purpose Unlimited Inc. Purchases New Stake in American Tower Corporation $AMT

Purpose Unlimited Inc. acquired a new position in shares of American Tower Corporation (NYSE:AMT) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 4,221 shares of the real estate investment trust’s stock, valued at approximately $741,000.

Other large investors also recently added to or reduced their stakes in the company. CIBC Bancorp USA Inc. bought a new stake in American Tower in the third quarter valued at about $35,633,000. Nordea Investment Management AB boosted its holdings in American Tower by 10.4% during the fourth quarter. Nordea Investment Management AB now owns 1,743,321 shares of the real estate investment trust’s stock worth $306,284,000 after buying an additional 164,645 shares during the last quarter. Rathbones Group PLC boosted its holdings in American Tower by 14.9% during the fourth quarter. Rathbones Group PLC now owns 474,216 shares of the real estate investment trust’s stock worth $83,258,000 after buying an additional 61,428 shares during the last quarter. Legal & General Group Plc grew its position in shares of American Tower by 4.7% during the 4th quarter. Legal & General Group Plc now owns 4,873,695 shares of the real estate investment trust’s stock worth $855,675,000 after buying an additional 220,447 shares during the period. Finally, Clearstead Trust LLC increased its stake in shares of American Tower by 69.0% in the 3rd quarter. Clearstead Trust LLC now owns 24,477 shares of the real estate investment trust’s stock valued at $4,707,000 after acquiring an additional 9,990 shares during the last quarter. 92.69% of the stock is currently owned by institutional investors and hedge funds.

American Tower Price Performance

NYSE AMT opened at $175.66 on Friday. The company has a debt-to-equity ratio of 3.07, a quick ratio of 0.43 and a current ratio of 0.43. The stock has a market cap of $81.84 billion, a price-to-earnings ratio of 28.38, a PEG ratio of 0.74 and a beta of 0.90. The business has a 50 day simple moving average of $181.59 and a 200 day simple moving average of $179.91. American Tower Corporation has a 52-week low of $165.08 and a 52-week high of $234.33.

American Tower (NYSE:AMT) last released its quarterly earnings results on Tuesday, April 28th. The real estate investment trust reported $2.84 earnings per share for the quarter, beating the consensus estimate of $1.60 by $1.24. American Tower had a net margin of 26.81% and a return on equity of 27.79%. The company had revenue of $2.74 billion during the quarter, compared to analysts’ expectations of $2.66 billion. During the same quarter in the prior year, the company earned $2.75 earnings per share. The business’s quarterly revenue was up 6.8% compared to the same quarter last year. American Tower has set its FY 2026 guidance at 10.900-11.07 EPS. Analysts anticipate that American Tower Corporation will post 10.66 earnings per share for the current fiscal year.

American Tower Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, July 13th. Investors of record on Friday, June 12th will be paid a $1.79 dividend. The ex-dividend date of this dividend is Friday, June 12th. This represents a $7.16 dividend on an annualized basis and a yield of 4.1%. American Tower’s dividend payout ratio is presently 115.67%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on AMT. JPMorgan Chase & Co. reduced their price objective on shares of American Tower from $245.00 to $240.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 29th. Raymond James Financial reaffirmed a “strong-buy” rating and issued a $240.00 target price on shares of American Tower in a research note on Wednesday, April 29th. TD Cowen cut their target price on shares of American Tower from $235.00 to $225.00 in a report on Wednesday, February 25th. Scotiabank lifted their price target on shares of American Tower from $214.00 to $218.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 29th. Finally, Royal Bank Of Canada reissued a “sector perform” rating and issued a $195.00 price target on shares of American Tower in a report on Thursday, April 30th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, American Tower has an average rating of “Moderate Buy” and an average target price of $216.20.

Insiders Place Their Bets

In other American Tower 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 transaction of $99,234.88. Following the completion of 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 document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.08% of the company’s stock.

American Tower Profile

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.