Bank of America 13F: Adds $107M to American Tower (AMT) Stake
Bank of America increased its holdings in American Tower Corporation by more than 566,000 shares.
Reviewed by automated data checks against the source filing. How we make and check alerts
Bank of America added 566,899 shares to its stake in American Tower Corporation ($AMT), a 14.37% increase, according to a 13F filing with the SEC dated May 18, 2026. It reported 4,511,662 shares worth $854.01 million at the end of the quarter.
Since the filing, $AMT is up 4.3% after 1 week, up 3.1% after 1 month and up 6.6% to date (from the $173.73 close on May 18, 2026).
AMT
American Tower Corporation
Key Points
- Bank of America boosted its stake in American Tower Corporation NYSE:AMT by a 14.4% margin, purchasing an additional 566,899 shares.
- The institutional investor wrapped the period with 4,511,662 shares of the real estate investment trust, carrying a reported value of $854.0 million.
- American Tower trades with a forward P/E ratio of 24.9 and analysts maintain a consensus buy rating with a mean price target of $215.70.
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Bank of America Expands American Tower Holdings
Bank of America raised its stake in American Tower Corporation NYSE:AMT by 14.4%, adding 566,899 shares during the period covered by its latest Form 13F filing with the SEC. The filing reflects holdings as of the reporting period and may not represent the investor's current position today. Major financial institutions frequently adjust large portfolios based on sector trends and asset allocation models.
Inside Bank of America's Position Change
The fund started the period holding 3,944,763 shares of the communications real estate firm. The purchase of 566,899 shares brought its ending count to 4,511,662 shares. That enlarged stake carried a reported value of about $854.0 million. Bank of America joins several other institutional investors managing sizable stakes in the specialty REIT sector.
Stock Valuation and Price Context
American Tower shares recently traded near $189.29, sitting comfortably above its 52-week low of $160.06 and below its high of $197.41. The stock changes hands above its 50-day moving average of $172.94 and its 200-day moving average of $177.46. The company features a market capitalization of $81.4 billion and a trailing P/E ratio of 24.0, with a forward P/E of 24.9.
Strong Quarterly Earnings Metrics
The real estate investment trust generated $10.9 billion in revenue over the trailing period, achieving a revenue growth rate of 4.7%. Profitability remains strong with a net margin of 31.1% and a return on equity of 33.9%. Earnings per share registered at $7.27. Shareholders will watch for the company's next scheduled earnings release on October 27, 2026, for updated financial results.
Earnings drift grade
Outlook vs expectations on the last report — not price action.
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Forward outlook
3 target raises vs 2 cuts.
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EPS & revenue
EPS beat estimates by 13.6%. Revenue beat estimates by 2.0%.
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Profit surprise
EBITDA met by 2 percent. Operating income beat by 7 percent.
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Pre-earnings setup
Expectations were about average.
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Analyst signal
1 upgrade, 3 target raises, 2 target cuts.
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Earnings quality
Gross margin down 1.3 points. Operating margin down 6.5 points. Positive free cash flow.
Earnings Call Summary
American Tower had a strong first quarter with reported revenue of $2.74 billion, beating consensus by about $53 million, and earnings per share of $2.84 versus consensus of $2.50. Organic growth excluding DISH churn was 4 percent in towers and 17 percent in the CoreSite data center business, driven by growing mobile data demand, AI workload expansion and a major inflection in interconnection activity. Management emphasized that structural tailwinds including 5G densification, eventual 6G deployment, and AI-driven infrastructure needs position the company well for mid to upper single-digit annual growth going forward.
Guidance Management raised full year property revenue guidance by about $145 million to approximately $10.9 billion, driven by foreign exchange tailwinds and accelerated straight-line revenue. They expect organic tenant billings growth around 4 percent when excluding one-time DISH churn, plus data center growth of about 13 percent. They reaffirmed attributable AFFO per share growth expectations in the mid to upper single-digit range over the long term.
Fine but not compelling. Acceptable results that likely do not create a meaningful forward reset.
Dividend Distribution Details
American Tower distributes an annual dividend of $6.98 per share, giving investors a dividend yield of 4.0%. The company maintains a dividend payout ratio of 96.0%, returning a substantial portion of earnings back to shareholders in line with typical REIT requirements.
Wall Street Analyst Coverage
Wall Street research firms continue to monitor the real estate stock closely. On September 30, 2026, Barclays maintained an Overweight rating and set a target of $199.00, following an earlier adjustment to $198.00 on August 20. Truist Securities reiterated a Buy rating with a target of $207.00 on August 12. TD Cowen maintained a Buy rating with a $227.00 target on July 29, while BMO Capital kept a Market Perform rating at $195.00 on the same day. Earlier in the summer, Wolfe Research initiated coverage with an Outperform rating and a $188.00 target on July 9, and RBC Capital upgraded its rating to Outperform with a $205.00 target on June 26. Overall, analysts hold a consensus Buy recommendation with a mean price target of $215.70.
Company Background
American Tower Corporation operates as a large independent owner and developer of multitenant communications real estate. The enterprise manages a vast portfolio of communications sites and data center facilities across the United States and international markets. Institutional moves in the stock reflect ongoing portfolio rebalancing across major financial institutions.
What to Watch at AMT
Investors tracking Bank of America and other major funds will await subsequent quarterly 13F filings for further portfolio adjustments. The upcoming earnings report on October 27, 2026, will also provide fresh data on operations and revenue performance.
Related Filing Alerts
Source: Bank of America's 13F filing on $AMT (May 18, 2026). 13F filings show holdings as of the end of the reporting quarter and may not reflect the fund's current position. Find the original filing: Bank of America 13F filings on SEC EDGAR. Written by software, not financial advice. How we make alerts