Swedbank AB Sells 47,069 Shares of American Tower Corporation $AMT

Swedbank AB cut its stake in American Tower Corporation (NYSE:AMT) by 7.7% during the fourth quarter, HoldingsChannel reports. The fund owned 564,734 shares of the real estate investment trust’s stock after selling 47,069 shares during the quarter. Swedbank AB’s holdings in American Tower were worth $99,150,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the stock. Mirae Asset Global Investments Co. Ltd. raised its holdings in American Tower by 8.9% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 96,793 shares of the real estate investment trust’s stock worth $18,615,000 after purchasing an additional 7,872 shares in the last quarter. Eastern Bank lifted its position in shares of American Tower by 69.6% during the third quarter. Eastern Bank now owns 139,091 shares of the real estate investment trust’s stock valued at $26,750,000 after buying an additional 57,078 shares during the last quarter. Krilogy Financial LLC bought a new stake in shares of American Tower in the 3rd quarter valued at about $1,044,000. Machina Capital S.A.S. purchased a new position in shares of American Tower in the 3rd quarter worth approximately $2,871,000. Finally, Commerzbank Aktiengesellschaft FI grew its position in shares of American Tower by 92.4% in the 3rd quarter. Commerzbank Aktiengesellschaft FI now owns 61,397 shares of the real estate investment trust’s stock worth $11,808,000 after buying an additional 29,486 shares during the last quarter. 92.69% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. Truist Financial increased their target price on shares of American Tower from $205.00 to $208.00 and gave the company a “buy” rating in a research report on Thursday, April 30th. Scotiabank upped their price target on American Tower from $214.00 to $218.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 29th. Barclays decreased their price objective on American Tower from $200.00 to $195.00 and set an “equal weight” rating for the company in a report on Thursday, April 16th. Jefferies Financial Group raised their price objective on American Tower from $209.00 to $210.00 and gave the stock a “buy” rating in a research report on Tuesday, April 14th. Finally, Morgan Stanley dropped their target price on American Tower from $225.00 to $220.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 25th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $218.05.

American Tower Stock Performance

Shares of NYSE AMT opened at $180.08 on Thursday. The company has a 50 day simple moving average of $179.66 and a two-hundred day simple moving average of $179.82. The stock has a market cap of $83.93 billion, a price-to-earnings ratio of 29.09, a PEG ratio of 0.74 and a beta of 0.90. 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 Corporation has a 12 month low of $165.08 and a 12 month high of $234.33.

American Tower (NYSE:AMT) last released 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 net margin of 26.81% and a return on equity of 27.79%. The firm had revenue of $2.74 billion for the quarter, compared to analyst estimates of $2.66 billion. During the same quarter in the prior year, the business earned $2.75 earnings per share. The business’s quarterly revenue 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 predict that American Tower Corporation will post 10.67 earnings per share for the current year.

American Tower Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 28th. Shareholders of record on Tuesday, April 14th were paid a dividend of $1.79 per share. This represents a $7.16 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date was Tuesday, April 14th. This is an increase from American Tower’s previous quarterly dividend of $1.70. American Tower’s dividend payout ratio (DPR) is 115.67%.

Insider Activity

In other news, EVP Ruth T. Dowling sold 556 shares of the business’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 owned 29,877 shares of the company’s stock, valued at $5,332,446.96. The trade was a 1.83% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Rajesh Kalathur bought 2,671 shares of the company’s stock in a transaction that occurred on Tuesday, March 10th. The shares were bought at an average cost of $185.30 per share, for a total transaction of $494,936.30. Following the completion of the acquisition, the director owned 4,936 shares of the company’s stock, valued at $914,640.80. This trade represents a 117.92% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders sold a total of 42,181 shares of company stock valued at $8,046,071 in the last quarter. 0.08% of the stock is currently owned by company insiders.

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.