DAVENPORT 13F: Adds $35M to American Tower (AMT) Stake
An institutional filing shows Davenport grew its holdings in the real estate investment trust by 20.4% during the period.
Reviewed by automated data checks against the source filing. How we make and check alerts
DAVENPORT added 214,884 shares to its stake in American Tower Corporation ($AMT), a 20.47% increase, according to a 13F filing with the SEC dated October 14, 2026. It reported 1,264,519 shares worth $208.47 million at the end of the quarter.
Since the filing, $AMT is up 3.3% to date (from the $179.40 close on Oct 14, 2026).
AMT
American Tower Corporation
Key Points
- Davenport raised its stake in American Tower Corporation by 214,884 shares to end with 1,264,519 shares worth about $208.5 million.
- Shares of American Tower recently traded around $182.99, sitting up about 5.6% above its 50-day moving average.
- The company reports trailing twelve-month revenue of $10.9 billion with a net margin of 31.1% ahead of its October 27 earnings report.
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Not investment advice. EarningsIQ is not a registered investment adviser, and this automated American Tower Corporation alert may contain errors. Disclosures
Davenport increased its investment in American Tower Corporation (NYSE: AMT) during the period, adding to its position according to a Form 13F filing with the Securities and Exchange Commission on October 14, 2026. Keep in mind that 13F filings look backward at the end of a previous quarter and might not show what the fund holds today.
What Changed in Davenport's American Tower Position
Davenport lifted its stake by a 20.5% margin, buying an additional 214,884 shares of the communications real estate company. The fund started the period holding 1,049,635 shares and finished with 1,264,519 shares. The reported value of the position reached $208,467,706.
Other Institutional Activity in American Tower
Other large investment managers also adjusted their positions in the real estate trust. Blackrock Inc. grew its holdings by 840,675 shares, ending with 45,796,561 shares worth about $8,484,729,052. Vanguard Capital Management LLC grew its holdings by 75,905 shares, ending with 30,437,771 shares worth about $5,639,205,963. Vanguard Portfolio Management LLC grew its holdings by 256,635 shares, ending with 27,851,812 shares worth about $5,160,105,328. State Street Corporation grew its holdings by 632,300 shares, ending with 22,066,202 shares worth about $4,088,205,338. Geode Capital Management, LLC reduced its holdings by 94,749 shares, ending with 13,838,970 shares worth about $2,563,946,031.
American Tower Corporation Stock Up 0.9%
American Tower shares recently traded around $182.99 as of October 16, 2026. The stock is up about 5.6% above its 50-day moving average of $173.22 and sits about 3.5% above its 200-day moving average of $176.82.
Recent Earnings
American Tower reported trailing-twelve-month revenue of $10,941,500,416 and basic earnings per share of $7.27. The company generated a net profit margin of 31.1% and a return on equity of 33.9%. Its next quarterly earnings release is scheduled for October 27, 2026.
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
American Tower pays an annual dividend rate of $7.16 per share, providing a dividend yield of 3.95%. The company directs 96.0% of its earnings toward dividend payments.
Insider Buying and Selling at American Tower Corporation
Company insiders made several transactions in recent months. On April 29, 2026, Ruth T. Dowling sold 972 shares valued at $173,092. On July 29, 2026, Robert Joseph Meyer Jr. sold 5,000 shares at an average price of $178.89 for a total of $894,450. On the same day, Ruth T. Dowling sold 1,791 shares valued at $309,641. Later, on August 21, 2026, director Rajesh Kalathur bought 2,829 shares at an average price of $177.00 for $500,733.
Analysts Set New Price Targets
Wall Street firms updated their views on the stock through the summer and early fall. On July 29, 2026, TD Cowen maintained a Buy rating and raised its price target to $227.00 from $225.00. On the same date, BMO Capital maintained a Market Perform rating and raised its target to $195.00 from $190.00. Truist Securities reiterated a Buy rating with a target of $207.00 on August 12, 2026. Barclays upgraded the stock to Overweight on August 20, 2026, with a target of $198.00, and later maintained that rating while bumping the target to $199.00 on September 30, 2026. Overall, the stock holds a consensus Buy recommendation from 23 analyst opinions, with a mean price target of $216.04.
About American Tower
American Tower Corporation operates as a real estate investment trust focused on wireless and broadcast communications infrastructure. The Boston-based company owns and manages a vast global portfolio of communication sites and data center facilities, leasing space to wireless carriers and service providers. Institutional shifts in companies like American Tower often track broader portfolio rebalancing within the real estate sector.
Bottom Line
Investors will look toward American Tower's upcoming earnings report on October 27, 2026, for fresh updates on its rental revenue and funds from operations. This filing highlights Davenport's portfolio adjustments during the period, though subsequent SEC filings will reveal if the fund maintains its larger stake. Keep in mind that 13F filings are backward-looking: they show holdings as of the end of the reporting quarter and may not represent the fund's current position.
Related Filing Alerts
Source: DAVENPORT's 13F filing on $AMT (Oct 14, 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: DAVENPORT 13F filings on SEC EDGAR. Written by software, not financial advice. How we make alerts