American Tower (NYSE:AMT) Director Buys $494,936.30 in Stock

American Tower Corporation (NYSE:AMT) Director Rajesh Kalathur purchased 2,671 shares of the company’s stock in a transaction dated Tuesday, March 10th. The shares were acquired at an average cost of $185.30 per share, with a total value of $494,936.30. Following the purchase, the director directly owned 4,936 shares of the company’s stock, valued at approximately $914,640.80. The trade was a 117.92% increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

American Tower Price Performance

Shares of NYSE:AMT opened at $184.39 on Friday. The company has a debt-to-equity ratio of 3.27, a quick ratio of 0.60 and a current ratio of 0.60. American Tower Corporation has a 52 week low of $166.88 and a 52 week high of $234.33. The firm has a market cap of $85.94 billion, a PE ratio of 34.21, a price-to-earnings-growth ratio of 0.77 and a beta of 0.92. The firm’s fifty day moving average is $181.42 and its 200-day moving average is $184.09.

American Tower (NYSE:AMT) last posted its quarterly earnings data 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). The company had revenue of $2.74 billion during the quarter, compared to analyst estimates of $2.69 billion. American Tower had a net margin of 23.76% and a return on equity of 24.36%. The business’s revenue for the quarter was up 7.5% on a year-over-year basis. During the same quarter 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. Sell-side analysts predict that American Tower Corporation will post 10.14 earnings per share for the current year.

American Tower Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 28th. Stockholders of record on Tuesday, April 14th will be paid a $1.79 dividend. The ex-dividend date of this dividend is Tuesday, April 14th. This is a positive change 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 132.84%.

Analysts Set New Price Targets

Several brokerages recently commented on AMT. TD Cowen reduced their target price on American Tower from $235.00 to $225.00 in a report on Wednesday, February 25th. Weiss Ratings restated a “hold (c)” rating on shares of American Tower in a report on Monday, December 29th. Royal Bank Of Canada dropped their price target on shares of American Tower from $220.00 to $195.00 and set a “sector perform” rating on the stock in a research report on Monday, January 12th. Barclays reaffirmed an “equal weight” rating and issued a $200.00 price objective (down from $203.00) on shares of American Tower in a research note on Monday, December 1st. Finally, JPMorgan Chase & Co. lowered their target price on shares of American Tower from $250.00 to $245.00 and set an “overweight” rating for the company in a research note on Monday, January 12th. 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 stock. According to MarketBeat, American Tower currently has a consensus rating of “Moderate Buy” and an average price target of $217.35.

Hedge Funds Weigh In On American Tower

A number of institutional investors and hedge funds have recently modified their holdings of the business. Abound Wealth Management lifted its position in shares of American Tower by 137.3% during the 3rd quarter. Abound Wealth Management now owns 140 shares of the real estate investment trust’s stock valued at $27,000 after acquiring an additional 81 shares during the period. Oakworth Capital Inc. grew its holdings in American Tower by 90.7% in the fourth quarter. Oakworth Capital Inc. now owns 143 shares of the real estate investment trust’s stock worth $25,000 after purchasing an additional 68 shares during the period. Richards Merrill & Peterson Inc. bought a new stake in American Tower in the fourth quarter valued at $25,000. Swiss RE Ltd. acquired a new position in shares of American Tower during the fourth quarter valued at about $25,000. Finally, Triumph Capital Management acquired a new position in shares of American Tower during the third quarter valued at about $29,000. 92.69% of the stock is currently owned by institutional investors.

About American Tower

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.