Erste Asset Management GmbH Lowers Position in American Tower Corporation $AMT

Erste Asset Management GmbH lessened its holdings in shares of American Tower Corporation (NYSE:AMT) by 25.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 63,930 shares of the real estate investment trust’s stock after selling 21,656 shares during the quarter. Erste Asset Management GmbH’s holdings in American Tower were worth $12,437,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Abound Wealth Management raised its stake 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 valued at $27,000 after purchasing an additional 81 shares in the last quarter. Legacy Investment Solutions LLC purchased a new position in American Tower in the 2nd quarter worth approximately $31,000. Root Financial Partners LLC bought a new position in shares of American Tower in the 3rd quarter worth $32,000. Physician Wealth Advisors Inc. raised its position in shares of 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 valued at $33,000 after buying an additional 79 shares in the last quarter. Finally, Westside Investment Management Inc. raised its position in shares of American Tower by 103.6% during the 3rd quarter. Westside Investment Management Inc. now owns 169 shares of the real estate investment trust’s stock valued at $33,000 after buying an additional 86 shares in the last quarter. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Wall Street Analyst Weigh In

AMT has been the subject of several research reports. Mizuho cut their target price 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. Weiss Ratings reaffirmed a “hold (c)” rating on shares of American Tower in a research note on Monday, December 29th. New Street Research upgraded American Tower from a “neutral” rating to a “buy” rating and set a $203.00 price objective for the company in a report on Monday, January 5th. Royal Bank Of Canada decreased their price objective on American Tower from $220.00 to $195.00 and set a “sector perform” rating on the stock in a report on Monday, January 12th. Finally, UBS Group cut their target price on American Tower from $254.00 to $248.00 and set a “buy” rating for the company in a research note on Wednesday. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $218.00.

American Tower Stock Up 3.6%

AMT opened at $191.72 on Friday. American Tower Corporation has a 12 month low of $166.88 and a 12 month high of $234.33. The company has a current ratio of 0.60, a quick ratio of 0.89 and a debt-to-equity ratio of 3.27. The business’s 50-day moving average price is $179.11 and its 200-day moving average price is $185.66. The company has a market cap of $89.76 billion, a P/E ratio of 35.57, a P/E/G ratio of 0.78 and a beta of 0.93.

American Tower (NYSE:AMT) last posted its quarterly earnings results 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 company 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%.American Tower’s revenue 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. On average, equities analysts expect that American Tower Corporation will post 10.14 EPS for the current year.

American Tower Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, February 2nd. Investors of record on Monday, December 29th were paid a $1.70 dividend. This represents a $6.80 annualized dividend and a dividend yield of 3.5%. The ex-dividend date of this dividend was Monday, December 29th. American Tower’s payout ratio is presently 126.16%.

Insider Buying and Selling

In related news, major shareholder Tower Corp /Ma/ American sold 2,288,621 shares of the company’s stock in a transaction on Tuesday, December 9th. The shares were sold at an average price of $69.75, for a total transaction of $159,631,314.75. Following the completion of the sale, the insider directly owned 211,379 shares in the company, valued at $14,743,685.25. This represents a 91.54% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.17% of the stock is owned by corporate insiders.

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.