CIBC Bancorp USA Inc. Purchases Shares of 185,280 American Tower Corporation $AMT

CIBC Bancorp USA Inc. bought a new position in shares of American Tower Corporation (NYSE:AMT) in the third quarter, Holdings Channel reports. The firm bought 185,280 shares of the real estate investment trust’s stock, valued at approximately $35,633,000.

Several other large investors have also recently added to or reduced their stakes in the stock. Ariadne Wealth Management LP purchased a new stake in shares of American Tower in the third quarter worth about $263,000. Centaurus Financial Inc. lifted its position in American Tower by 115.3% during the 3rd quarter. Centaurus Financial Inc. now owns 2,080 shares of the real estate investment trust’s stock worth $400,000 after acquiring an additional 1,114 shares in the last quarter. First Affirmative Financial Network lifted its position in American Tower by 2.7% during the 3rd quarter. First Affirmative Financial Network now owns 2,754 shares of the real estate investment trust’s stock worth $530,000 after acquiring an additional 73 shares in the last quarter. Sunbelt Securities Inc. raised its stake in shares of American Tower by 113.9% during the third quarter. Sunbelt Securities Inc. now owns 10,701 shares of the real estate investment trust’s stock valued at $2,058,000 after purchasing an additional 5,698 shares during the period. Finally, Coldstream Capital Management Inc. lifted its position in shares of American Tower by 1.9% during the third quarter. Coldstream Capital Management Inc. now owns 30,312 shares of the real estate investment trust’s stock worth $5,830,000 after purchasing an additional 571 shares in the last quarter. 92.69% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at American Tower

In related news, Director Rajesh Kalathur bought 2,671 shares of the stock in a transaction dated Tuesday, March 10th. The stock was bought at an average cost of $185.30 per share, with a total value of $494,936.30. Following the completion of the acquisition, the director owned 4,936 shares of the company’s stock, valued at $914,640.80. This trade represents a 117.92% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Eugene M. Noel sold 41,209 shares of the 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 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. Additional details regarding this sale are available in the official SEC disclosure. 0.18% of the stock is owned by corporate insiders.

American Tower Price Performance

Shares of NYSE AMT opened at $184.93 on Wednesday. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 3.27. The company has a market capitalization of $86.19 billion, a price-to-earnings ratio of 34.31, a price-to-earnings-growth ratio of 0.78 and a beta of 0.92. American Tower Corporation has a twelve month low of $166.88 and a twelve month high of $234.33. The business has a 50 day simple moving average of $181.77 and a 200-day simple moving average of $183.69.

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 for the quarter, compared to the consensus estimate of $2.69 billion. American Tower had a return on equity of 24.36% and a net margin of 23.76%.The business’s revenue for the quarter was up 7.5% compared to the same quarter last year. During the same quarter last year, the business earned $2.62 earnings per share. American Tower has set its FY 2026 guidance at 10.780-10.950 EPS. As a group, equities research analysts expect 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. This is a boost from American Tower’s previous quarterly dividend of $1.70. The ex-dividend date of this dividend is Tuesday, April 14th. This represents a $7.16 annualized dividend and a dividend yield of 3.9%. American Tower’s dividend payout ratio (DPR) is presently 132.84%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on AMT. TD Cowen lowered their price target on shares of American Tower from $235.00 to $225.00 in a report on Wednesday, February 25th. Jefferies Financial Group upped their price objective on shares of American Tower from $200.00 to $209.00 and gave the company a “buy” rating in a research report on Thursday, February 26th. Scotiabank lowered their target price on American Tower from $220.00 to $214.00 and set a “sector outperform” rating for the company in a research note on Wednesday, February 25th. The Goldman Sachs Group cut their price target on American Tower from $230.00 to $210.00 and set a “buy” rating on the stock in a research note on Friday, January 16th. Finally, New Street Research raised American Tower from a “neutral” rating to a “buy” rating and set a $203.00 price target for the company in a report on Monday, January 5th. One research 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. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $217.35.

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.