Vestcor Inc Purchases 2,905 Shares of American Tower Corporation $AMT

by · The Cerbat Gem

Vestcor Inc boosted its position in American Tower Corporation (NYSE:AMT – Free Report) by 3.8% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 78,529 shares of the real estate investment trust’s stock after purchasing an additional 2,905 shares during the period. Vestcor Inc’s holdings in American Tower were worth $13,787,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Krilogy Financial LLC bought a new stake in American Tower during the 3rd quarter valued at $1,044,000. ABC Arbitrage SA bought a new stake in American Tower during the 3rd quarter valued at $4,093,000. ING Groep NV raised its stake in American Tower by 5,413.1% during the 3rd quarter. ING Groep NV now owns 60,534 shares of the real estate investment trust’s stock valued at $11,642,000 after acquiring an additional 59,436 shares in the last quarter. Azzad Asset Management Inc. ADV raised its stake in American Tower by 60.2% during the 3rd quarter. Azzad Asset Management Inc. ADV now owns 8,577 shares of the real estate investment trust’s stock valued at $1,649,000 after acquiring an additional 3,224 shares in the last quarter. Finally, Vanguard Group Inc. raised its stake in American Tower by 1.0% during the 3rd quarter. Vanguard Group Inc. now owns 63,640,168 shares of the real estate investment trust’s stock valued at $12,239,277,000 after acquiring an additional 611,801 shares in the last quarter. 92.69% of the stock is currently owned by institutional investors.

American Tower Stock Down 0.0%

Shares of AMT stock opened at $193.88 on Friday. American Tower Corporation has a 1 year low of $165.08 and a 1 year high of $234.33. The stock has a market cap of $90.33 billion, a PE ratio of 31.32, a price-to-earnings-growth ratio of 0.81 and a beta of 0.90. The business’s fifty day moving average is $179.08 and its 200-day moving average is $179.58. 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 – Get Free Report) last released its earnings results on Tuesday, April 28th. The real estate investment trust reported $2.84 EPS for the quarter, beating 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 business had revenue of $2.74 billion during the quarter, compared to analyst estimates of $2.66 billion. During the same period in the prior year, the business earned $2.75 earnings per share. The business’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. Equities analysts expect that American Tower Corporation will post 10.67 earnings per share for the current fiscal year.

American Tower Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 13th. Shareholders of record on Friday, June 12th will be issued a $1.79 dividend. The ex-dividend date of this dividend is Friday, June 12th. This represents a $7.16 annualized dividend and a dividend yield of 3.7%. American Tower’s dividend payout ratio is currently 115.67%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on AMT. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $195.00 target price on shares of American Tower in a research note on Thursday, April 30th. Citizens Jmp reaffirmed a “market outperform” rating and set a $260.00 target price on shares of American Tower in a research note on Wednesday, April 29th. Mizuho raised American Tower from a “neutral” rating to an “outperform” rating and lifted their target price for the company from $189.00 to $205.00 in a research note on Wednesday, April 15th. Weiss Ratings raised American Tower from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, May 11th. Finally, Raymond James Financial reaffirmed a “strong-buy” rating and set a $240.00 target price on shares of American Tower in a research note on Wednesday, April 29th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $216.20.

Check Out Our Latest Stock Analysis on AMT

Insider Buying and Selling at American Tower

In related news, EVP Ruth T. Dowling sold 556 shares of American Tower stock in a transaction on Tuesday, April 28th. The stock was 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. The trade was a 1.83% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Rajesh Kalathur bought 2,671 shares of the firm’s stock in a transaction that occurred on Tuesday, March 10th. The stock was bought at an average price of $185.30 per share, for a total transaction of $494,936.30. Following the completion of the acquisition, the director directly owned 4,936 shares in the company, valued at approximately $914,640.80. The trade was a 117.92% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 0.08% of the stock is currently owned by corporate insiders.

American Tower Profile

(Free Report)

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.

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