Rajesh Kalathur Purchases 2,671 Shares of American Tower (NYSE:AMT) Stock

American Tower Corporation (NYSE:AMT) Director Rajesh Kalathur bought 2,671 shares of the company’s stock in a transaction that occurred on Tuesday, March 10th. The stock was bought at an average cost of $185.30 per share, for a total transaction of $494,936.30. Following the completion of the transaction, 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 purchase was disclosed in a document filed with the SEC, which is available at this link.

American Tower Price Performance

Shares of NYSE:AMT opened at $184.39 on Friday. American Tower Corporation has a 12 month low of $166.88 and a 12 month high of $234.33. The firm has a market capitalization of $85.94 billion, a P/E ratio of 34.21, a P/E/G ratio of 0.76 and a beta of 0.92. The company has a debt-to-equity ratio of 3.27, a current ratio of 0.60 and a quick ratio of 0.60. The company’s fifty day moving average price is $181.42 and its 200 day moving average price is $184.25.

American Tower (NYSE:AMT) last released its quarterly earnings data on Tuesday, February 24th. The real estate investment trust reported $1.75 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.54 by ($0.79). American Tower had a net margin of 23.76% and a return on equity of 24.36%. The company had revenue of $2.74 billion during the quarter, compared to analyst estimates of $2.69 billion. During the same quarter in the prior year, the company earned $2.62 EPS. The business’s revenue was up 7.5% on a year-over-year basis. American Tower has set its FY 2026 guidance at 10.780-10.950 EPS. As a group, sell-side analysts predict that American Tower Corporation will post 10.14 earnings per share for the current fiscal year.

American Tower Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 28th. Investors of record on Tuesday, April 14th will be paid a dividend of $1.79 per share. The ex-dividend date is Tuesday, April 14th. This represents a $7.16 dividend on an annualized basis and a yield of 3.9%. This is a boost from American Tower’s previous quarterly dividend of $1.70. American Tower’s dividend payout ratio (DPR) is 126.16%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of AMT. Richards Merrill & Peterson Inc. acquired a new stake in shares of American Tower during the fourth quarter worth $25,000. Oakworth Capital Inc. increased its stake in American Tower by 90.7% in the 4th quarter. Oakworth Capital Inc. now owns 143 shares of the real estate investment trust’s stock valued at $25,000 after buying an additional 68 shares during the period. Swiss RE Ltd. acquired a new position in American Tower in the 4th quarter valued at $25,000. Abound Wealth Management raised its position in American Tower by 137.3% during the 3rd quarter. Abound Wealth Management now owns 140 shares of the real estate investment trust’s stock worth $27,000 after buying an additional 81 shares during the last quarter. Finally, Holos Integrated Wealth LLC acquired a new stake in shares of American Tower in the 4th quarter worth $27,000. 92.69% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Mizuho reduced their price objective on American Tower from $217.00 to $189.00 and set a “neutral” rating for the company in a research note on Monday, January 12th. Weiss Ratings restated a “hold (c)” rating on shares of American Tower in a research report on Monday, December 29th. 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. Scotiabank reduced their price target on shares of American Tower from $220.00 to $214.00 and set a “sector outperform” rating for the company in a research report on Wednesday, February 25th. Finally, UBS Group decreased their price target on shares of American Tower from $254.00 to $248.00 and set a “buy” rating for the company in a research note on Wednesday, February 25th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat, American Tower currently has a consensus rating of “Moderate Buy” and an average target price of $217.35.

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.