Lazard Asset Management LLC Has $1.26 Billion Position in American Tower Corporation $AMT

by · The Markets Daily

Lazard Asset Management LLC lifted its holdings in American Tower Corporation (NYSE:AMT – Free Report) by 20.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,325,943 shares of the real estate investment trust’s stock after purchasing an additional 1,240,780 shares during the period. American Tower comprises 2.1% of Lazard Asset Management LLC’s holdings, making the stock its 5th biggest holding. Lazard Asset Management LLC’s holdings in American Tower were worth $1,264,311,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Oakworth Capital Inc. boosted its stake in shares of American Tower by 90.7% during the 4th quarter. Oakworth Capital Inc. now owns 143 shares of the real estate investment trust’s stock worth $25,000 after acquiring an additional 68 shares in the last quarter. Richards Merrill & Peterson Inc. purchased a new stake in shares of American Tower during the fourth quarter valued at $25,000. Swiss RE Ltd. acquired a new position in shares of American Tower in the 4th quarter valued at $25,000. Triumph Capital Management acquired a new position in shares of American Tower in the 3rd quarter valued at $29,000. Finally, Acumen Wealth Advisors LLC purchased a new position in American Tower in the 4th quarter worth about $29,000. 92.69% of the stock is currently owned by institutional investors.

American Tower Price Performance

Shares of AMT opened at $166.66 on Monday. The business’s 50-day moving average is $176.77 and its 200-day moving average is $178.36. The company has a debt-to-equity ratio of 3.07, a current ratio of 0.43 and a quick ratio of 0.43. The company has a market capitalization of $77.65 billion, a price-to-earnings ratio of 26.92, a P/E/G ratio of 0.70 and a beta of 0.91. American Tower Corporation has a fifty-two week low of $160.06 and a fifty-two week high of $231.54.

American Tower (NYSE:AMT – Get Free Report) last posted its quarterly earnings results on Tuesday, April 28th. The real estate investment trust reported $2.84 EPS for the quarter, topping 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 analysts’ expectations of $2.66 billion. During the same period last year, the company posted $2.75 earnings per share. The firm’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. Equities research analysts expect that American Tower Corporation will post 10.66 EPS for the current fiscal year.

American Tower Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, July 13th. Shareholders of record on Friday, June 12th were paid a $1.79 dividend. The ex-dividend date was Friday, June 12th. This represents a $7.16 dividend on an annualized basis and a yield of 4.3%. American Tower’s payout ratio is 115.67%.

Analyst Ratings Changes

AMT has been the subject of a number of analyst reports. Scotiabank upped their price objective on shares of American Tower from $214.00 to $218.00 and gave the company an “outperform” rating in a research note on Wednesday, April 29th. Sanford C. Bernstein upgraded shares of American Tower from a “market perform” rating to an “outperform” rating and set a $207.00 price target on the stock in a report on Tuesday, May 19th. Wolfe Research raised shares of American Tower from a “peer perform” rating to an “outperform” rating and set a $188.00 price objective for the company in a research note on Wednesday, July 8th. Royal Bank Of Canada upgraded shares of American Tower from a “sector perform” rating to an “outperform” rating and lifted their price objective for the stock from $195.00 to $205.00 in a research report on Friday, June 26th. Finally, Mizuho raised shares of American Tower from a “neutral” rating to an “outperform” rating and boosted their target price for the company from $189.00 to $205.00 in a research note on Wednesday, April 15th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $215.57.

Check Out Our Latest Analysis on AMT

Insiders Place Their Bets

In other news, EVP Ruth T. Dowling sold 556 shares of the firm’s stock in a transaction dated Tuesday, April 28th. The stock was sold at an average price of $178.48, for a total transaction of $99,234.88. Following the completion of the sale, the executive vice president directly owned 29,877 shares of the company’s stock, valued at $5,332,446.96. This trade represents a 1.83% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.08% of the stock is currently owned by insiders.

American Tower Company 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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