Intact Investment Management Inc. Purchases 3,700 Shares of American Tower Corporation $AMT

Intact Investment Management Inc. boosted its position in shares of American Tower Corporation (NYSE:AMT) by 21.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 21,200 shares of the real estate investment trust’s stock after acquiring an additional 3,700 shares during the period. Intact Investment Management Inc.’s holdings in American Tower were worth $3,722,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the stock. Montag A & Associates Inc. lifted its holdings in shares of American Tower by 34.3% in the fourth quarter. Montag A & Associates Inc. now owns 873 shares of the real estate investment trust’s stock worth $154,000 after buying an additional 223 shares in the last quarter. Wilkins Investment Counsel Inc. lifted its holdings in shares of American Tower by 11.7% in the fourth quarter. Wilkins Investment Counsel Inc. now owns 40,480 shares of the real estate investment trust’s stock worth $7,107,000 after buying an additional 4,225 shares in the last quarter. Forza Wealth Management LLC lifted its holdings in shares of American Tower by 96.0% in the fourth quarter. Forza Wealth Management LLC now owns 8,533 shares of the real estate investment trust’s stock worth $1,498,000 after buying an additional 4,179 shares in the last quarter. PFA Pension Forsikringsaktieselskab purchased a new position in shares of American Tower in the fourth quarter worth $52,050,000. Finally, Syntax Research Inc. lifted its holdings in shares of American Tower by 5,034.3% in the fourth quarter. Syntax Research Inc. now owns 12,117 shares of the real estate investment trust’s stock worth $2,127,000 after buying an additional 11,881 shares in the last quarter. Hedge funds and other institutional investors own 92.69% of the company’s stock.

American Tower Trading Down 0.4%

Shares of AMT opened at $180.92 on Tuesday. The company’s fifty day moving average is $180.04 and its 200 day moving average is $179.99. American Tower Corporation has a fifty-two week low of $165.08 and a fifty-two week high of $234.33. The stock has a market capitalization of $84.32 billion, a PE ratio of 29.23, a P/E/G ratio of 0.76 and a beta of 0.90. The company has a debt-to-equity ratio of 3.07, a quick ratio of 0.43 and a current ratio of 0.43.

American Tower (NYSE:AMT) last announced its quarterly earnings results on Tuesday, April 28th. The real estate investment trust reported $2.84 earnings per share for the quarter, topping the consensus estimate of $1.60 by $1.24. American Tower had a net margin of 26.81% and a return on equity of 27.79%. The company had revenue of $2.74 billion for the quarter, compared to analysts’ expectations of $2.66 billion. During the same quarter in the previous year, the business posted $2.75 earnings per share. American Tower’s quarterly revenue was up 6.8% on a year-over-year basis. American Tower has set its FY 2026 guidance at 10.900-11.07 EPS. Sell-side analysts expect that American Tower Corporation will post 10.67 earnings per share for the current fiscal year.

American Tower Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 28th. Investors of record on Tuesday, April 14th were given a $1.79 dividend. This is a boost from American Tower’s previous quarterly dividend of $1.70. This represents a $7.16 annualized dividend and a yield of 4.0%. The ex-dividend date was Tuesday, April 14th. American Tower’s dividend payout ratio (DPR) is presently 115.67%.

Insider Buying and Selling

In related news, COO Eugene M. Noel sold 41,209 shares of the business’s stock in a transaction on Monday, March 2nd. The shares were 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 approximately $5,653,551.60. The trade was a 58.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Ruth T. Dowling sold 416 shares of the business’s stock in a transaction on Wednesday, April 29th. The shares were sold at an average price of $177.54, for a total transaction of $73,856.64. Following the transaction, the executive vice president owned 29,461 shares in the company, valued at $5,230,505.94. This trade represents a 1.39% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 42,181 shares of company stock worth $8,046,071. Insiders own 0.08% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on AMT. UBS Group lowered their target price on shares of American Tower from $254.00 to $248.00 and set a “buy” rating on the stock in a report on Wednesday, February 25th. Sanford C. Bernstein boosted their target price on shares of American Tower from $205.00 to $207.00 and gave the stock a “market perform” rating in a report on Tuesday, April 28th. New Street Research raised shares of American Tower from a “neutral” rating to a “buy” rating and set a $203.00 target price on the stock in a report on Monday, January 5th. Citizens Jmp reissued a “market outperform” rating and issued a $260.00 target price on shares of American Tower in a report on Wednesday, April 29th. Finally, Morgan Stanley reduced their price target on shares of American Tower from $225.00 to $220.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 25th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat.com, American Tower currently has a consensus rating of “Moderate Buy” and an average target price of $218.05.

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.