American Tower Corporation $AMT Shares Newly Purchased by Kopion Asset Management LLC

by · The Markets Daily

Kopion Asset Management LLC bought a new stake in shares of American Tower Corporation (NYSE:AMT – Free Report) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 30,545 shares of the real estate investment trust’s stock, valued at approximately $5,000,000. American Tower makes up about 3.3% of Kopion Asset Management LLC’s holdings, making the stock its 13th biggest holding.

Several other hedge funds and other institutional investors have also recently modified their holdings of AMT. Riverwater Partners LLC lifted its holdings in shares of American Tower by 3.8% in the fourth quarter. Riverwater Partners LLC now owns 1,536 shares of the real estate investment trust’s stock worth $270,000 after buying an additional 56 shares in the last quarter. Twin City Private Wealth LLC grew its stake in American Tower by 0.7% during 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 acquiring an additional 58 shares in the last quarter. Asset Advisory Group Inc. increased its holdings in American Tower by 3.0% during the 1st quarter. Asset Advisory Group Inc. now owns 2,072 shares of the real estate investment trust’s stock worth $358,000 after acquiring an additional 60 shares during the period. Anchor Investment Management LLC increased its holdings in American Tower by 2.7% during the 4th quarter. Anchor Investment Management LLC now owns 2,351 shares of the real estate investment trust’s stock worth $413,000 after acquiring an additional 62 shares during the period. Finally, Community Financial Services Group LLC lifted its stake in American Tower by 1.2% in the 2nd quarter. Community Financial Services Group LLC now owns 5,388 shares of the real estate investment trust’s stock worth $895,000 after purchasing an additional 65 shares in the last quarter. 92.69% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CFO Robert Joseph Meyer sold 5,000 shares of the company’s stock in a transaction dated Wednesday, July 29th. The stock was sold at an average price of $178.89, for a total value of $894,450.00. Following the completion of the transaction, the chief financial officer directly owned 21,428 shares in the company, valued at approximately $3,833,254.92. This represents a 18.92% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Ruth Dowling sold 1,106 shares of the firm’s stock in a transaction dated Wednesday, July 29th. The shares were sold at an average price of $174.96, for a total value of $193,505.76. Following the transaction, the executive vice president directly owned 27,711 shares in the company, valued at approximately $4,848,316.56. This represents a 3.84% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 6,791 shares of company stock valued at $1,204,091 over the last 90 days. Insiders own 0.08% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on AMT. Scotiabank restated an “outperform” rating on shares of American Tower in a research report on Wednesday, July 29th. Truist Financial reiterated a “buy” rating and issued a $207.00 price objective (down from $208.00) on shares of American Tower in a research report on Wednesday, August 12th. Barclays lifted their price objective on American Tower from $198.00 to $199.00 and gave the company an “overweight” rating in a research note on Wednesday, September 30th. Royal Bank Of Canada upgraded American Tower from a “sector perform” rating to an “outperform” rating and upped their target price for the stock from $195.00 to $205.00 in a research note on Friday, June 26th. Finally, Mizuho set a $208.00 price target on American Tower in a report on Thursday, August 20th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $215.48.

Check Out Our Latest Stock Report on AMT

American Tower Price Performance

Shares of NYSE:AMT traded up $12.76 during trading on Friday, reaching $179.49. The company had a trading volume of 4,846,035 shares, compared to its average volume of 3,057,396. The company has a fifty day moving average of $172.45 and a two-hundred day moving average of $174.92. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 3.12. The stock has a market capitalization of $83.63 billion, a P/E ratio of 24.67, a price-to-earnings-growth ratio of 2.67 and a beta of 0.88. American Tower Corporation has a 12 month low of $160.06 and a 12 month high of $196.08.

American Tower (NYSE:AMT – Get Free Report) last posted its quarterly earnings data on Tuesday, July 28th. The real estate investment trust reported $2.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.57 by $1.14. American Tower had a net margin of 31.08% and a return on equity of 32.76%. The company had revenue of $2.75 billion during the quarter, compared to the consensus estimate of $2.70 billion. During the same period in the previous year, the firm posted $2.60 EPS. The firm’s revenue was up 4.6% compared to the same quarter last year. American Tower has set its FY 2026 guidance at 11.000-11.170 EPS. Equities research analysts forecast that American Tower Corporation will post 10.8 earnings per share for the current year.

American Tower Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 20th. Shareholders of record on Wednesday, September 30th will be paid a dividend of $1.79 per share. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $7.16 annualized dividend and a yield of 4.0%. American Tower’s payout ratio is 98.49%.

About American Tower

(Free Report)

American Tower Corporation (NYSE: AMT) is a global real estate investment trust that owns, operates and develops communications infrastructure. Its portfolio includes wireless and broadcast towers, rooftop sites, distributed antenna systems and other facilities that support wireless communications, television and radio broadcasting, government communications and other connectivity services.

The company leases space on its communications sites to wireless carriers, broadcasters, government agencies and other customers.

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