SEB Asset Management AB Invests $18.52 Million in American Tower Corporation $AMT

SEB Asset Management AB bought a new stake in American Tower Corporation (NYSE:AMT) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 107,340 shares of the real estate investment trust’s stock, valued at approximately $18,525,000.

A number of other hedge funds have also recently modified their holdings of the stock. Raleigh Capital Management Inc. grew its holdings in shares of American Tower by 489.1% during the first quarter. Raleigh Capital Management Inc. now owns 13,703 shares of the real estate investment trust’s stock worth $2,365,000 after purchasing an additional 11,377 shares during the last quarter. Canal Capital Management LLC increased its position in shares of American Tower by 81.9% during the first quarter. Canal Capital Management LLC now owns 34,471 shares of the real estate investment trust’s stock worth $5,949,000 after purchasing an additional 15,520 shares in the last quarter. Bernzott Capital Advisors lifted its holdings in shares of American Tower by 29.3% in the 1st quarter. Bernzott Capital Advisors now owns 42,161 shares of the real estate investment trust’s stock valued at $7,276,000 after purchasing an additional 9,556 shares during the last quarter. Legal & General Group Plc boosted its position in shares of American Tower by 4.7% in the 4th quarter. Legal & General Group Plc now owns 4,873,695 shares of the real estate investment trust’s stock valued at $855,675,000 after purchasing an additional 220,447 shares during the period. Finally, Nordea Investment Management AB boosted its position in shares of American Tower by 10.4% in the 4th quarter. Nordea Investment Management AB now owns 1,743,321 shares of the real estate investment trust’s stock valued at $306,284,000 after purchasing an additional 164,645 shares during the period. 92.69% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, EVP Ruth T. Dowling sold 556 shares of American Tower stock in a transaction on Tuesday, April 28th. The shares were sold at an average price of $178.48, for a total value of $99,234.88. Following 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. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.08% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Wolfe Research raised American Tower from a “peer perform” rating to an “outperform” rating and set a $188.00 price target on the stock in a research report on Wednesday, July 8th. JPMorgan Chase & Co. decreased their price objective on American Tower from $245.00 to $240.00 and set an “overweight” rating for the company in a report on Wednesday, April 29th. Mizuho upgraded shares of American Tower from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $189.00 to $205.00 in a research report on Wednesday, April 15th. Sanford C. Bernstein raised shares of 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. Finally, Scotiabank upped their price target on shares of American Tower from $214.00 to $218.00 and gave the company an “outperform” rating in a research report on Wednesday, April 29th. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $215.57.

American Tower Stock Performance

Shares of AMT stock opened at $170.13 on Monday. The stock’s 50-day moving average price is $177.64 and its 200 day moving average price is $178.72. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 3.07. The stock has a market capitalization of $79.26 billion, a PE ratio of 27.48, a price-to-earnings-growth ratio of 0.71 and a beta of 0.91. American Tower Corporation has a 52-week low of $160.06 and a 52-week high of $234.33.

American Tower (NYSE:AMT) last posted its quarterly earnings data on Tuesday, April 28th. The real estate investment trust reported $2.84 earnings per share for the quarter, topping analysts’ consensus estimates of $1.60 by $1.24. American Tower had a return on equity of 27.79% and a net margin of 26.81%.The company had revenue of $2.74 billion during the quarter, compared to analysts’ expectations of $2.66 billion. During the same period last year, the firm earned $2.75 EPS. The firm’s revenue for the quarter was up 6.8% on a year-over-year basis. American Tower has set its FY 2026 guidance at 10.900-11.07 EPS. As a group, equities research analysts forecast that American Tower Corporation will post 10.66 EPS for the current year.

American Tower Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, July 13th. Investors of record on Friday, June 12th were issued a dividend of $1.79 per share. The ex-dividend date of this dividend was Friday, June 12th. This represents a $7.16 annualized dividend and a dividend yield of 4.2%. American Tower’s dividend payout ratio (DPR) is currently 115.67%.

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.