Davis R M Inc. Lowers Position in American Tower Corporation $AMT

Davis R M Inc. trimmed its position in shares of American Tower Corporation (NYSE:AMT) by 1.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 287,333 shares of the real estate investment trust’s stock after selling 3,674 shares during the quarter. Davis R M Inc. owned 0.06% of American Tower worth $55,260,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. grew its position in shares of American Tower by 8.9% in 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 purchasing an additional 7,872 shares during the last quarter. Eastern Bank lifted its stake in American Tower by 69.6% in the 3rd quarter. Eastern Bank now owns 139,091 shares of the real estate investment trust’s stock valued at $26,750,000 after buying an additional 57,078 shares in the last quarter. Machina Capital S.A.S. acquired a new stake in American Tower during the 3rd quarter valued at $2,871,000. Commerzbank Aktiengesellschaft FI increased its position in American Tower by 92.4% during the third quarter. Commerzbank Aktiengesellschaft FI now owns 61,397 shares of the real estate investment trust’s stock worth $11,808,000 after buying an additional 29,486 shares in the last quarter. Finally, Krilogy Financial LLC acquired a new position in shares of American Tower in the third quarter worth $1,044,000. Institutional investors and hedge funds own 92.69% of the company’s stock.

American Tower Price Performance

AMT opened at $191.72 on Monday. American Tower Corporation has a 1 year low of $166.88 and a 1 year high of $234.33. The company’s 50 day simple moving average is $179.11 and its 200 day simple moving average is $185.40. The stock has a market capitalization of $89.76 billion, a PE ratio of 35.57, a P/E/G ratio of 0.81 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 posted its quarterly earnings results on Tuesday, February 24th. The real estate investment trust reported $1.75 earnings per share for the quarter, missing analysts’ consensus estimates of $2.54 by ($0.79). The company had revenue of $2.74 billion for the quarter, compared to analysts’ expectations of $2.69 billion. American Tower had a return on equity of 24.36% and a net margin of 23.76%.The business’s revenue for the quarter was up 7.5% on a year-over-year basis. During the same period in the prior year, the business earned $2.62 EPS. American Tower has set its FY 2026 guidance at 10.780-10.950 EPS. As a group, sell-side analysts expect that American Tower Corporation will post 10.14 EPS for the current year.

American Tower Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, February 2nd. Investors of record on Monday, December 29th were issued a $1.70 dividend. The ex-dividend date was Monday, December 29th. This represents a $6.80 dividend on an annualized basis and a yield of 3.5%. American Tower’s dividend payout ratio (DPR) is presently 126.16%.

Insiders Place Their Bets

In other American Tower news, major shareholder Tower Corp /Ma/ American sold 2,288,621 shares of the business’s stock in a transaction dated Tuesday, December 9th. The stock was sold at an average price of $69.75, for a total transaction of $159,631,314.75. Following the completion of the sale, the insider owned 211,379 shares of the company’s stock, valued at approximately $14,743,685.25. The trade was a 91.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.18% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. New Street Research raised American Tower from a “neutral” rating to a “buy” rating and set a $203.00 price objective on the stock in a research note on Monday, January 5th. JPMorgan Chase & Co. decreased their price target on shares of American Tower from $250.00 to $245.00 and set an “overweight” rating on the stock in a research note on Monday, January 12th. Scotiabank lowered their price target on shares of American Tower from $220.00 to $214.00 and set a “sector outperform” rating for the company in a report on Wednesday, February 25th. Royal Bank Of Canada reduced their price objective on shares of 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. Finally, Barclays reaffirmed 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. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat, American Tower currently has a consensus rating of “Moderate Buy” and an average price target of $218.00.

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.