Victory Capital Management Inc. Purchases 5,393 Shares of American Tower Corporation $AMT

Victory Capital Management Inc. lifted its position in American Tower Corporation (NYSE:AMT) by 4.0% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 139,496 shares of the real estate investment trust’s stock after buying an additional 5,393 shares during the period. Victory Capital Management Inc.’s holdings in American Tower were worth $26,828,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Abound Wealth Management grew its holdings in American Tower by 137.3% in the third quarter. Abound Wealth Management now owns 140 shares of the real estate investment trust’s stock worth $27,000 after purchasing an additional 81 shares during the last quarter. VSM Wealth Advisory LLC lifted its holdings in shares of American Tower by 136.4% during the 2nd quarter. VSM Wealth Advisory LLC now owns 156 shares of the real estate investment trust’s stock valued at $34,000 after purchasing an additional 90 shares during the last quarter. Root Financial Partners LLC acquired a new stake in shares of American Tower in the 3rd quarter worth $32,000. Westside Investment Management Inc. boosted its position in shares of American Tower by 103.6% in the 3rd quarter. Westside Investment Management Inc. now owns 169 shares of the real estate investment trust’s stock worth $33,000 after purchasing an additional 86 shares in the last quarter. Finally, Physician Wealth Advisors Inc. grew its stake in American Tower by 85.9% during the 3rd quarter. Physician Wealth Advisors Inc. now owns 171 shares of the real estate investment trust’s stock worth $33,000 after buying an additional 79 shares during the last quarter. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. JPMorgan Chase & Co. decreased their price target 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. Morgan Stanley cut their price objective on shares of American Tower from $225.00 to $220.00 and set an “overweight” rating on the stock in a report on Wednesday, February 25th. Mizuho decreased their price objective on shares of American Tower from $217.00 to $189.00 and set a “neutral” rating for the company in a research report on Monday, January 12th. Royal Bank Of Canada lowered their target price on shares of American Tower from $220.00 to $195.00 and set a “sector perform” rating for the company in a research note on Monday, January 12th. Finally, UBS Group cut their price target on shares of American Tower from $254.00 to $248.00 and set a “buy” rating on the stock in a research note on Wednesday, February 25th. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $217.35.

Insider Activity at American Tower

In other news, COO Eugene M. Noel sold 41,209 shares of the company’s stock in a transaction on Monday, March 2nd. The shares were 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 of the company’s stock, valued at $5,653,551.60. This represents a 58.20% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.18% of the stock is owned by company insiders.

American Tower Stock Down 1.1%

American Tower stock opened at $186.45 on Tuesday. The business’s 50-day simple moving average is $180.81 and its two-hundred day simple moving average is $184.66. The company has a debt-to-equity ratio of 3.27, a quick ratio of 0.60 and a current ratio of 0.60. The company has a market cap of $86.90 billion, a PE ratio of 34.59, a PEG ratio of 0.79 and a beta of 0.92. American Tower Corporation has a fifty-two week low of $166.88 and a fifty-two week high of $234.33.

American Tower (NYSE:AMT) last announced its quarterly earnings data on Tuesday, February 24th. The real estate investment trust reported $1.75 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.54 by ($0.79). The firm had revenue of $2.74 billion during 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 company’s revenue for the quarter was up 7.5% compared to the same quarter last year. During the same quarter in the previous year, the business 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 firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 28th. Shareholders of record on Tuesday, April 14th will be paid a dividend of $1.79 per share. This represents a $7.16 annualized dividend and a yield of 3.8%. The ex-dividend date is Tuesday, April 14th. This is a positive change from American Tower’s previous quarterly dividend of $1.70. American Tower’s dividend payout ratio (DPR) is presently 126.16%.

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.