Mill Capital Management LLC Purchases Shares of 118,842 American Tower Corporation $AMT

Mill Capital Management LLC purchased a new position in shares of American Tower Corporation (NYSE:AMT) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 118,842 shares of the real estate investment trust’s stock, valued at approximately $19,439,000. American Tower accounts for approximately 1.3% of Mill Capital Management LLC’s investment portfolio, making the stock its 22nd biggest holding.

Several other hedge funds have also made changes to their positions in AMT. Raleigh Capital Management Inc. boosted its holdings in shares of American Tower by 489.1% in the 1st quarter. Raleigh Capital Management Inc. now owns 13,703 shares of the real estate investment trust’s stock valued at $2,365,000 after purchasing an additional 11,377 shares during the last quarter. Canal Capital Management LLC increased its holdings in shares of American Tower by 81.9% during the 1st quarter. Canal Capital Management LLC now owns 34,471 shares of the real estate investment trust’s stock worth $5,949,000 after buying an additional 15,520 shares during the last quarter. Bernzott Capital Advisors raised its position 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 worth $7,276,000 after buying an additional 9,556 shares during the period. Legal & General Group Plc raised 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 worth $855,675,000 after buying an additional 220,447 shares during the period. Finally, Swiss Life Asset Management Ltd boosted its holdings in American Tower by 13.9% in the fourth quarter. Swiss Life Asset Management Ltd now owns 101,993 shares of the real estate investment trust’s stock valued at $17,907,000 after acquiring an additional 12,464 shares during the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

Insider Activity

In other news, CFO Robert Joseph Meyer sold 5,000 shares of the 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 sale, the chief financial officer owned 21,428 shares in the company, valued at approximately $3,833,254.92. This trade represents a 18.92% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Ruth T. 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 sale, the executive vice president owned 27,711 shares in the company, valued at approximately $4,848,316.56. The trade was a 3.84% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 6,791 shares of company stock valued at $1,204,091 in the last ninety days. Company insiders own 0.08% of the company’s stock.

American Tower Stock Performance

NYSE:AMT opened at $175.68 on Friday. The firm’s fifty day simple moving average is $172.82 and its 200 day simple moving average is $177.94. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 3.12. American Tower Corporation has a twelve month low of $160.06 and a twelve month high of $214.79. The firm has a market capitalization of $81.86 billion, a price-to-earnings ratio of 24.17, a PEG ratio of 2.76 and a beta of 0.90.

American Tower (NYSE:AMT) last announced its quarterly earnings results on Tuesday, July 28th. The real estate investment trust reported $2.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.57 by $1.14. American Tower had a return on equity of 32.76% and a net margin of 31.08%.The firm had revenue of $2.75 billion during the quarter, compared to the consensus estimate of $2.70 billion. During the same period in the prior year, the firm earned $2.60 EPS. The firm’s quarterly 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. As a group, equities research analysts expect that American Tower Corporation will post 10.78 earnings per share for the current fiscal year.

American Tower Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, July 13th. Stockholders of record on Friday, June 12th were given a $1.79 dividend. The ex-dividend date of this dividend was Friday, June 12th. This represents a $7.16 annualized dividend and a dividend yield of 4.1%. American Tower’s dividend payout ratio is presently 98.49%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on AMT shares. BMO Capital Markets boosted their price target on American Tower from $190.00 to $195.00 and gave the company a “market perform” rating in a research report on Wednesday, July 29th. Citizens Jmp restated a “market outperform” rating and issued a $260.00 price objective on shares of American Tower in a report on Wednesday, April 29th. TD Cowen lifted their price objective on American Tower from $225.00 to $227.00 and gave the company a “buy” rating in a research note on Wednesday, July 29th. Wolfe Research upgraded American Tower from a “peer perform” rating to an “outperform” rating and set a $188.00 target price for the company in a report on Wednesday, July 8th. Finally, Royal Bank Of Canada raised shares of American Tower from a “sector perform” rating to an “outperform” rating and increased their target price for the stock from $195.00 to $205.00 in a research report on Friday, June 26th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $215.14.

American Tower Company Profile

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.