Pallas Capital Advisors LLC Raises Stock Holdings in American Tower Corporation $AMT

Pallas Capital Advisors LLC grew its position in American Tower Corporation (NYSE:AMT) by 298.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,743 shares of the real estate investment trust’s stock after acquiring an additional 5,801 shares during the quarter. Pallas Capital Advisors LLC’s holdings in American Tower were worth $1,359,000 at the end of the most recent reporting period.

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

American Tower Trading Up 0.3%

Shares of American Tower stock opened at $170.01 on Monday. The firm 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. American Tower Corporation has a 52-week low of $165.08 and a 52-week high of $234.33. The company’s 50-day simple moving average is $181.70 and its 200-day simple moving average is $182.40. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 3.27.

American Tower (NYSE:AMT) last announced its quarterly earnings data on Tuesday, February 24th. The real estate investment trust reported $1.75 EPS for the quarter, missing analysts’ consensus estimates of $2.54 by ($0.79). American Tower had a net margin of 23.76% and a return on equity of 24.36%. The firm had revenue of $2.74 billion during the quarter, compared to analyst estimates of $2.69 billion. During the same quarter in the previous year, the business earned $2.62 EPS. American Tower’s revenue for the quarter was up 7.5% on a year-over-year basis. American Tower has set its FY 2026 guidance at 10.780-10.950 EPS. As a group, equities research analysts anticipate that American Tower Corporation will post 10.14 earnings per share for the current year.

American Tower Increases Dividend

The firm 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 represents a $7.16 annualized dividend and a dividend yield of 4.2%. This is an increase from American Tower’s previous quarterly dividend of $1.70. American Tower’s payout ratio is 132.84%.

Insider Buying and Selling

In related news, COO Eugene M. Noel sold 41,209 shares of American Tower stock in a transaction that occurred on 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 sale, the chief operating officer directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Rajesh Kalathur acquired 2,671 shares of the business’s stock in a transaction on Tuesday, March 10th. The stock was acquired at an average price of $185.30 per share, with a total value of $494,936.30. Following the transaction, the director directly owned 4,936 shares of the company’s stock, valued at $914,640.80. This represents a 117.92% increase in their position. The disclosure for this purchase is available in the SEC filing. 0.17% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on AMT shares. The Goldman Sachs Group decreased their target price on shares of American Tower from $230.00 to $210.00 and set a “buy” rating for the company in a research note on Friday, January 16th. TD Cowen reduced their price objective on American Tower from $235.00 to $225.00 in a research note on Wednesday, February 25th. JPMorgan Chase & Co. decreased their price objective on American Tower from $250.00 to $245.00 and set an “overweight” rating for the company in a research report on Monday, January 12th. BMO Capital Markets lifted their target price on American Tower from $185.00 to $200.00 and gave the company a “market perform” rating in a research note on Wednesday, February 25th. Finally, Barclays reissued an “equal weight” rating and issued a $200.00 target price (down from $203.00) on shares of American Tower in a report on Monday, December 1st. One 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 company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $217.35.

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.