CGN Advisors LLC Acquires 3,596 Shares of American Tower Corporation $AMT

CGN Advisors LLC boosted its holdings in American Tower Corporation (NYSE:AMT) by 23.6% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 18,823 shares of the real estate investment trust’s stock after acquiring an additional 3,596 shares during the quarter. CGN Advisors LLC’s holdings in American Tower were worth $3,305,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of AMT. Norges Bank bought a new position in American Tower during the 2nd quarter valued at $1,371,875,000. Lazard Asset Management LLC raised its holdings in shares of American Tower by 1,984.8% in the third quarter. Lazard Asset Management LLC now owns 4,464,382 shares of the real estate investment trust’s stock valued at $858,552,000 after purchasing an additional 4,250,242 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of American Tower by 24.3% in the second quarter. JPMorgan Chase & Co. now owns 12,666,082 shares of the real estate investment trust’s stock valued at $2,799,458,000 after purchasing an additional 2,474,328 shares during the last quarter. Viking Global Investors LP lifted its position in shares of American Tower by 233.5% during the second quarter. Viking Global Investors LP now owns 2,797,125 shares of the real estate investment trust’s stock valued at $618,221,000 after purchasing an additional 1,958,329 shares in the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC purchased a new position in American Tower during the third quarter worth about $305,872,000. Institutional investors own 92.69% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on AMT. Jefferies Financial Group lifted their price target on American Tower from $200.00 to $209.00 and gave the stock a “buy” rating in a report on Thursday, February 26th. JPMorgan Chase & Co. reduced their price objective on American Tower from $250.00 to $245.00 and set an “overweight” rating for the company in a research note on Monday, January 12th. The Goldman Sachs Group lowered their target price on American Tower from $230.00 to $210.00 and set a “buy” rating on the stock in a research note on Friday, January 16th. Royal Bank Of Canada dropped their target price 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, Sanford C. Bernstein assumed coverage on shares of American Tower in a research note on Thursday, March 5th. They set a “market perform” rating and a $205.00 price target for the company. One investment 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 stock. According to MarketBeat.com, American Tower has an average rating of “Moderate Buy” and an average target price of $217.35.

Insider Buying and Selling at American Tower

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

American Tower Trading Up 1.1%

Shares of American Tower stock opened at $182.70 on Friday. The company’s 50-day moving average price is $182.24 and its 200-day moving average price is $183.66. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 3.27. American Tower Corporation has a 12-month low of $166.88 and a 12-month high of $234.33. The company has a market cap of $85.15 billion, a price-to-earnings ratio of 33.90, a PEG ratio of 0.76 and a beta of 0.92.

American Tower (NYSE:AMT) last posted its 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). American Tower had a return on equity of 24.36% and a net margin of 23.76%.The firm had revenue of $2.74 billion for the quarter, compared to the consensus estimate of $2.69 billion. During the same period last year, the company posted $2.62 EPS. The business’s revenue 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, equities analysts expect that American Tower Corporation will post 10.14 earnings per share 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. Stockholders of record on Tuesday, April 14th will be issued a $1.79 dividend. The ex-dividend date of this dividend is Tuesday, April 14th. This is an increase from American Tower’s previous quarterly dividend of $1.70. This represents a $7.16 annualized dividend and a dividend yield of 3.9%. American Tower’s payout ratio is currently 126.16%.

American Tower Company 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.