Eastern Bank Has $25.95 Million Stock Position in American Tower Corporation $AMT

Eastern Bank increased its stake in shares of American Tower Corporation (NYSE:AMT) by 6.2% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 147,774 shares of the real estate investment trust’s stock after acquiring an additional 8,683 shares during the period. Eastern Bank’s holdings in American Tower were worth $25,945,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in shares of American Tower by 1.0% during the 3rd quarter. Vanguard Group Inc. now owns 63,640,168 shares of the real estate investment trust’s stock worth $12,239,277,000 after purchasing an additional 611,801 shares in the last quarter. Invesco Ltd. boosted its holdings in shares of American Tower by 3.1% in the 3rd quarter. Invesco Ltd. now owns 6,888,633 shares of the real estate investment trust’s stock valued at $1,324,822,000 after buying an additional 208,109 shares during the last quarter. Capital Research Global Investors grew its stake in shares of American Tower by 0.3% in the third quarter. Capital Research Global Investors now owns 4,924,771 shares of the real estate investment trust’s stock valued at $947,132,000 after buying an additional 15,145 shares in the last quarter. Legal & General Group Plc increased its holdings in American Tower by 3.5% during the third quarter. Legal & General Group Plc now owns 4,653,248 shares of the real estate investment trust’s stock worth $894,913,000 after buying an additional 159,223 shares during the last quarter. Finally, Lazard Asset Management LLC raised its position in American Tower by 1,984.8% during the third quarter. Lazard Asset Management LLC now owns 4,464,382 shares of the real estate investment trust’s stock worth $858,552,000 after acquiring an additional 4,250,242 shares in the last quarter. 92.69% of the stock is owned by institutional investors and hedge funds.

American Tower Trading Up 0.6%

AMT stock opened at $170.01 on Friday. American Tower Corporation has a one year low of $165.08 and a one year high of $234.33. The stock has a market cap of $79.24 billion, a price-to-earnings ratio of 31.54, a price-to-earnings-growth ratio of 0.71 and a beta of 0.92. The company has a fifty day moving average price of $181.70 and a two-hundred day moving average price of $182.48. The company has a debt-to-equity ratio of 3.27, a current ratio of 0.60 and a quick ratio of 0.60.

American Tower (NYSE:AMT) last issued its quarterly earnings data on Tuesday, February 24th. The real estate investment trust reported $1.75 earnings per share for the quarter, missing the consensus estimate of $2.54 by ($0.79). The company had revenue of $2.74 billion during the quarter, compared to the consensus estimate 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 in the previous year, the company earned $2.62 earnings per share. American Tower has set its FY 2026 guidance at 10.780-10.950 EPS. Equities analysts anticipate that American Tower Corporation will post 10.14 EPS for the current year.

American Tower Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 28th. Shareholders of record on Tuesday, April 14th will be given a dividend of $1.79 per share. This represents a $7.16 annualized dividend and a yield of 4.2%. This is a boost from American Tower’s previous quarterly dividend of $1.70. The ex-dividend date is Tuesday, April 14th. American Tower’s dividend payout ratio (DPR) is 126.16%.

Analyst Ratings Changes

AMT has been the subject of a number of recent analyst reports. Barclays reiterated an “equal weight” rating and issued a $200.00 price target (down from $203.00) on shares of American Tower in a research note on Monday, December 1st. New Street Research raised shares of American Tower from a “neutral” rating to a “buy” rating and set a $203.00 target price on the stock in a report on Monday, January 5th. Raymond James Financial cut their target price on shares of American Tower from $231.00 to $229.00 and set a “strong-buy” rating for the company in a research note on Friday, January 23rd. Royal Bank Of Canada reduced their price target on American Tower from $220.00 to $195.00 and set a “sector perform” rating for the company in a report on Monday, January 12th. Finally, UBS Group lowered their price target on American Tower from $254.00 to $248.00 and set a “buy” rating on the stock in a research report on Wednesday, February 25th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $217.35.

Insider Activity at American Tower

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

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.