Bank of New York Mellon Corp Cuts Stake in American Tower Corporation $AMT

Bank of New York Mellon Corp reduced its stake in American Tower Corporation (NYSE:AMT) by 1.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,715,852 shares of the real estate investment trust’s stock after selling 42,758 shares during the period. Bank of New York Mellon Corp’s holdings in American Tower were worth $476,822,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. Capital Innovations LLC purchased a new stake in shares of American Tower during the fourth quarter valued at $10,345,000. Greenwich Wealth Management LLC boosted its position in shares of American Tower by 8.4% during the fourth quarter. Greenwich Wealth Management LLC now owns 3,882 shares of the real estate investment trust’s stock valued at $682,000 after buying an additional 300 shares during the last quarter. Fiduciary Family Office LLC boosted its position in shares of American Tower by 109.0% during the fourth quarter. Fiduciary Family Office LLC now owns 5,210 shares of the real estate investment trust’s stock valued at $915,000 after buying an additional 2,717 shares during the last quarter. Beto Financial Group LLC purchased a new stake in shares of American Tower during the fourth quarter valued at $354,000. Finally, Cbre Investment Management Listed Real Assets LLC boosted its position in shares of American Tower by 18.8% during the fourth quarter. Cbre Investment Management Listed Real Assets LLC now owns 788,920 shares of the real estate investment trust’s stock valued at $138,511,000 after buying an additional 125,085 shares during the last quarter. 92.69% of the stock is owned by hedge funds and other institutional investors.

American Tower Stock Down 2.0%

AMT stock opened at $181.90 on Thursday. American Tower Corporation has a fifty-two week low of $165.08 and a fifty-two week high of $234.33. The business’s 50-day moving average is $178.06 and its two-hundred day moving average is $179.41. The company has a debt-to-equity ratio of 3.07, a quick ratio of 0.43 and a current ratio of 0.43. The company has a market cap of $84.75 billion, a price-to-earnings ratio of 29.39, a P/E/G ratio of 0.77 and a beta of 0.90.

American Tower (NYSE:AMT) last posted its quarterly earnings data on Tuesday, April 28th. The real estate investment trust reported $2.84 EPS for the quarter, topping the consensus estimate of $1.60 by $1.24. American Tower had a return on equity of 27.79% and a net margin of 26.81%.The firm had revenue of $2.74 billion for the quarter, compared to the consensus estimate of $2.66 billion. During the same quarter last year, the company earned $2.75 earnings per share. The business’s revenue for the quarter 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. As a group, analysts forecast that American Tower Corporation will post 10.67 earnings per share for the current year.

American Tower Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 13th. Stockholders of record on Friday, June 12th will be paid a $1.79 dividend. The ex-dividend date of this dividend is Friday, June 12th. This represents a $7.16 annualized dividend and a dividend yield of 3.9%. American Tower’s dividend payout ratio (DPR) is 115.67%.

Insider Activity

In related news, Director Rajesh Kalathur acquired 2,671 shares of the firm’s stock in a transaction dated Tuesday, March 10th. The shares were purchased at an average price of $185.30 per share, with a total value of $494,936.30. Following the completion of the purchase, 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 ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Ruth T. Dowling sold 556 shares of the firm’s stock in a transaction dated Tuesday, April 28th. The stock was sold at an average price of $178.48, for a total value of $99,234.88. Following the completion of the transaction, the executive vice president directly owned 29,877 shares in the company, valued at $5,332,446.96. This trade represents a 1.83% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.08% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Raymond James Financial reaffirmed a “strong-buy” rating and set a $240.00 price objective on shares of American Tower in a research report on Wednesday, April 29th. Barclays dropped their price objective on American Tower from $200.00 to $195.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 16th. Sanford C. Bernstein raised American Tower from a “market perform” rating to an “outperform” rating and set a $207.00 target price on the stock in a report on Tuesday, May 19th. BMO Capital Markets increased their target price on American Tower from $185.00 to $200.00 and gave the company a “market perform” rating in a report on Wednesday, February 25th. Finally, JPMorgan Chase & Co. lowered their target price on American Tower from $245.00 to $240.00 and set an “overweight” rating on the stock in a report on Wednesday, April 29th. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $216.20.

American Tower Company 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.