American Tower Corporation $AMT Stock Purchased by State of Alaska Department of Revenue

State of Alaska Department of Revenue boosted its position in American Tower Corporation (NYSE:AMT) by 1.2% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 281,580 shares of the real estate investment trust’s stock after purchasing an additional 3,359 shares during the period. State of Alaska Department of Revenue owned approximately 0.06% of American Tower worth $46,649,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new position in American Tower in the second quarter worth approximately $7,490,943,000. J. Stern & Co. LLP increased its holdings in shares of American Tower by 28,121.1% in the fourth quarter. J. Stern & Co. LLP now owns 37,686,978 shares of the real estate investment trust’s stock valued at $6,616,703,000 after buying an additional 37,553,436 shares in the last quarter. Deutsche Bank AG bought a new position in shares of American Tower in the second quarter valued at $1,096,186,000. Bank of America Corp DE acquired a new stake in shares of American Tower during the 2nd quarter valued at $638,829,000. Finally, Bank of New York Mellon Corp acquired a new stake in shares of American Tower during the 2nd quarter valued at $500,016,000. 92.69% of the stock is owned by institutional investors.

Insider Activity

In other news, Director Rajesh Kalathur bought 2,829 shares of the company’s stock in a transaction that occurred on Friday, August 21st. The shares were purchased at an average price of $177.00 per share, for a total transaction of $500,733.00. Following the acquisition, the director directly owned 7,765 shares of the company’s stock, valued at $1,374,405. The trade was a 57.31% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Robert Joseph Meyer sold 5,000 shares of the business’s stock in a transaction on Wednesday, July 29th. The stock was sold at an average price of $178.89, for a total transaction of $894,450.00. Following the transaction, the chief financial officer directly owned 21,428 shares of the company’s stock, valued at approximately $3,833,254.92. This represents a 18.92% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 6,791 shares of company stock valued at $1,204,091 over the last 90 days. 0.08% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. BMO Capital Markets lifted their target price on American Tower from $190.00 to $195.00 and gave the stock a “market perform” rating in a report on Wednesday, July 29th. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $214.00 target price on shares of American Tower in a report on Wednesday, July 29th. Truist Financial reiterated a “buy” rating and issued a $207.00 price target (down from $208.00) on shares of American Tower in a research report on Wednesday, August 12th. Barclays increased their price target on American Tower from $198.00 to $199.00 and gave the company an “overweight” rating in a research report on Wednesday, September 30th. Finally, Wolfe Research raised American Tower from a “peer perform” rating to an “outperform” rating and set a $188.00 price target on the stock in a research note on Wednesday, July 8th. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, American Tower currently has an average rating of “Moderate Buy” and an average target price of $215.48.

American Tower Stock Up 1.4%

AMT traded up $2.53 on Thursday, reaching $181.93. 921,795 shares of the company traded hands, compared to its average volume of 3,068,260. The company has a debt-to-equity ratio of 3.12, a current ratio of 0.52 and a quick ratio of 0.52. American Tower Corporation has a 52-week low of $160.06 and a 52-week high of $196.08. The stock’s 50 day moving average price is $173.12 and its 200-day moving average price is $175.21. The company has a market cap of $84.77 billion, a price-to-earnings ratio of 25.01, a PEG ratio of 2.88 and a beta of 0.88.

American Tower (NYSE:AMT) last issued its earnings results on Tuesday, July 28th. The real estate investment trust reported $2.71 earnings per share for the quarter, topping the consensus estimate of $1.57 by $1.14. The company had revenue of $2.75 billion for the quarter, compared to analyst estimates of $2.70 billion. American Tower had a return on equity of 32.76% and a net margin of 31.08%. The business’s revenue was up 4.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.60 EPS. American Tower has set its FY 2026 guidance at 11.000-11.170 EPS. On average, sell-side analysts expect that American Tower Corporation will post 10.80 EPS for the current fiscal year.

American Tower Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 20th. Shareholders of record on Wednesday, September 30th will be issued a dividend of $1.79 per share. This represents a $7.16 annualized dividend and a yield of 3.9%. The ex-dividend date is Wednesday, September 30th. American Tower’s dividend payout ratio (DPR) is 98.49%.

American Tower Company Profile

American Tower Corporation (NYSE: AMT) is a global real estate investment trust that owns, operates and develops communications infrastructure. Its portfolio includes wireless and broadcast towers, rooftop sites, distributed antenna systems and other facilities that support wireless communications, television and radio broadcasting, government communications and other connectivity services.

The company leases space on its communications sites to wireless carriers, broadcasters, government agencies and other customers.