UNIVEST FINANCIAL Corp Increases Stock Holdings in American Tower Corporation $AMT

UNIVEST FINANCIAL Corp increased its holdings in shares of American Tower Corporation (NYSE:AMT) by 46.2% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 65,143 shares of the real estate investment trust’s stock after purchasing an additional 20,585 shares during the quarter. UNIVEST FINANCIAL Corp’s holdings in American Tower were worth $11,242,000 at the end of the most recent quarter.

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

Analysts Set New Price Targets

AMT has been the topic of a number of research analyst reports. Weiss Ratings lowered shares of American Tower from a “hold (c)” rating to a “hold (c-)” rating in a report on Monday, June 29th. Citizens Jmp restated a “market outperform” rating and set a $260.00 price objective on shares of American Tower in a report on Wednesday, April 29th. Mizuho raised American Tower from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $189.00 to $205.00 in a research report on Wednesday, April 15th. Jefferies Financial Group lifted their target price on American Tower from $209.00 to $210.00 and gave the company a “buy” rating in a report on Tuesday, April 14th. Finally, Sanford C. Bernstein upgraded American Tower from a “market perform” rating to an “outperform” rating and set a $207.00 price target for the company in a research note on Tuesday, May 19th. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $215.57.

Insider Activity at American Tower

In other news, EVP Ruth T. Dowling sold 556 shares of the company’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 sale, the executive vice president owned 29,877 shares of the company’s stock, valued at $5,332,446.96. This represents a 1.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.08% of the stock is currently owned by corporate insiders.

American Tower Trading Up 2.2%

AMT traded up $3.69 during trading on Friday, hitting $168.69. 2,458,176 shares of the company’s stock were exchanged, compared to its average volume of 3,439,682. American Tower Corporation has a 1 year low of $160.06 and a 1 year high of $234.33. The stock has a 50 day moving average price of $178.66 and a 200 day moving average price of $178.89. The firm has a market cap of $78.59 billion, a P/E ratio of 27.25, a price-to-earnings-growth ratio of 0.70 and a beta of 0.91. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 3.07.

American Tower (NYSE:AMT) last issued its earnings results on Tuesday, April 28th. The real estate investment trust reported $2.84 EPS for the quarter, beating 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 the consensus estimate of $2.66 billion. During the same quarter last year, the firm posted $2.75 EPS. 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 expect that American Tower Corporation will post 10.66 EPS for the current fiscal year.

American Tower Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 13th. Shareholders of record on Friday, June 12th will be paid a dividend of $1.79 per share. This represents a $7.16 dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date is Friday, June 12th. American Tower’s payout ratio is currently 115.67%.

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.