AIA Group Ltd Acquires 5,074 Shares of American Tower Corporation $AMT

AIA Group Ltd raised its stake in shares of American Tower Corporation (NYSE:AMT) by 8.0% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 68,285 shares of the real estate investment trust’s stock after buying an additional 5,074 shares during the quarter. AIA Group Ltd’s holdings in American Tower were worth $11,785,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of AMT. Riverwater Partners LLC increased its holdings in shares of American Tower by 3.8% in the fourth quarter. Riverwater Partners LLC now owns 1,536 shares of the real estate investment trust’s stock worth $270,000 after purchasing an additional 56 shares during the period. Triumph Capital Management grew its position in American Tower by 37.3% during the fourth quarter. Triumph Capital Management now owns 206 shares of the real estate investment trust’s stock worth $36,000 after buying an additional 56 shares in the last quarter. Personal CFO Solutions LLC increased its stake in American Tower by 3.5% in the 4th quarter. Personal CFO Solutions LLC now owns 1,667 shares of the real estate investment trust’s stock worth $293,000 after acquiring an additional 57 shares during the last quarter. Twin City Private Wealth LLC increased its stake in American Tower by 0.7% in the 4th quarter. Twin City Private Wealth LLC now owns 7,799 shares of the real estate investment trust’s stock worth $1,382,000 after acquiring an additional 58 shares during the last quarter. Finally, Asset Advisory Group Inc. raised its holdings in shares of American Tower by 3.0% in the 1st quarter. Asset Advisory Group Inc. now owns 2,072 shares of the real estate investment trust’s stock valued at $358,000 after acquiring an additional 60 shares in the last quarter. 92.69% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages recently weighed in on AMT. Scotiabank raised their target price on shares of American Tower from $214.00 to $218.00 and gave the company an “outperform” rating in a research note on Wednesday, April 29th. Sanford C. Bernstein raised shares of American Tower from a “market perform” rating to an “outperform” rating and set a $207.00 price target on the stock in a report on Tuesday, May 19th. Wolfe Research upgraded shares of American Tower from a “peer perform” rating to an “outperform” rating and set a $188.00 price objective on the stock in a research report on Wednesday, July 8th. Truist Financial lifted their price objective on shares of American Tower from $205.00 to $208.00 and gave the stock a “buy” rating in a report on Thursday, April 30th. Finally, Raymond James Financial reiterated a “strong-buy” rating and issued a $240.00 target price on shares of American Tower in a research report on Wednesday, April 29th. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, American Tower presently has an average rating of “Moderate Buy” and a consensus target price of $215.57.

Insider Buying and Selling

In other news, EVP Ruth T. Dowling sold 416 shares of the firm’s stock in a transaction dated Wednesday, April 29th. The shares were sold at an average price of $177.54, for a total transaction of $73,856.64. Following the sale, the executive vice president owned 29,461 shares of the company’s stock, valued at $5,230,505.94. This trade represents a 1.39% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.08% of the company’s stock.

American Tower Trading Up 0.7%

NYSE AMT opened at $170.13 on Friday. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 3.07. American Tower Corporation has a twelve month low of $160.06 and a twelve month high of $234.33. The firm has a market capitalization of $79.26 billion, a PE ratio of 27.48, a P/E/G ratio of 0.71 and a beta of 0.91. The stock’s 50 day moving average is $177.64 and its 200 day moving average is $178.70.

American Tower (NYSE:AMT) last announced its quarterly earnings data on Tuesday, April 28th. The real estate investment trust reported $2.84 earnings per share for the quarter, topping analysts’ consensus estimates of $1.60 by $1.24. American Tower had a net margin of 26.81% and a return on equity of 27.79%. The business had revenue of $2.74 billion for the quarter, compared to analysts’ expectations of $2.66 billion. During the same quarter in the prior year, the company earned $2.75 earnings per share. The business’s revenue was up 6.8% compared to the same quarter last year. American Tower has set its FY 2026 guidance at 10.900-11.07 EPS. Research analysts forecast that American Tower Corporation will post 10.66 earnings per share for the current fiscal year.

American Tower Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 13th. Investors of record on Friday, June 12th were given a dividend of $1.79 per share. The ex-dividend date of this dividend was Friday, June 12th. This represents a $7.16 annualized dividend and a dividend yield of 4.2%. American Tower’s dividend payout ratio (DPR) is 115.67%.

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.