Chevy Chase Trust Holdings LLC Sells 8,423 Shares of American Tower Corporation $AMT

Chevy Chase Trust Holdings LLC trimmed its position in American Tower Corporation (NYSE:AMT) by 3.4% during the third quarter, HoldingsChannel.com reports. The firm owned 239,513 shares of the real estate investment trust’s stock after selling 8,423 shares during the quarter. Chevy Chase Trust Holdings LLC’s holdings in American Tower were worth $46,063,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of AMT. Banco Bilbao Vizcaya Argentaria S.A. boosted its position in American Tower by 14.2% during the 3rd quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 33,696 shares of the real estate investment trust’s stock worth $6,480,000 after acquiring an additional 4,199 shares during the last quarter. Bridgefront Capital LLC acquired a new stake in shares of American Tower in the third quarter valued at approximately $1,335,000. Chilton Investment Co. Inc. raised its holdings in shares of American Tower by 12.5% in the third quarter. Chilton Investment Co. Inc. now owns 1,444 shares of the real estate investment trust’s stock valued at $278,000 after purchasing an additional 161 shares during the last quarter. Bank of Nova Scotia lifted its position in shares of American Tower by 29.5% in the third quarter. Bank of Nova Scotia now owns 75,222 shares of the real estate investment trust’s stock worth $14,467,000 after purchasing an additional 17,134 shares in the last quarter. Finally, Algert Global LLC boosted its holdings in American Tower by 324.6% during the third quarter. Algert Global LLC now owns 14,479 shares of the real estate investment trust’s stock worth $2,785,000 after purchasing an additional 11,069 shares during the last quarter. 92.69% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at American Tower

In related news, COO Eugene M. Noel sold 41,209 shares of American Tower stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $191.05, for a total transaction of $7,872,979.45. Following the completion of the transaction, the chief operating officer owned 29,592 shares in the company, valued at approximately $5,653,551.60. This trade represents a 58.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Rajesh Kalathur acquired 2,671 shares of the company’s stock in a transaction on Tuesday, March 10th. The stock was acquired at an average price of $185.30 per share, for a total transaction of $494,936.30. Following the purchase, the director directly owned 4,936 shares of the company’s stock, valued at approximately $914,640.80. This trade represents a 117.92% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Company insiders own 0.18% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on AMT shares. TD Cowen decreased their target price on shares of American Tower from $235.00 to $225.00 in a research report on Wednesday, February 25th. Mizuho cut their price target on shares of American Tower from $217.00 to $189.00 and set a “neutral” rating on the stock in a research report on Monday, January 12th. JPMorgan Chase & Co. reduced their price objective on shares of American Tower from $250.00 to $245.00 and set an “overweight” rating for the company in a research note on Monday, January 12th. New Street Research upgraded American Tower from a “neutral” rating to a “buy” rating and set a $203.00 price objective for the company in a report on Monday, January 5th. Finally, Scotiabank dropped their target price on American Tower from $220.00 to $214.00 and set a “sector outperform” rating on the stock in a report on Wednesday, February 25th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $217.35.

American Tower Price Performance

Shares of AMT opened at $184.39 on Monday. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 3.27. The company’s fifty day simple moving average is $181.42 and its 200 day simple moving average is $183.95. American Tower Corporation has a 1-year low of $166.88 and a 1-year high of $234.33. The company has a market cap of $85.94 billion, a price-to-earnings ratio of 34.21, a PEG ratio of 0.77 and a beta of 0.92.

American Tower (NYSE:AMT) last announced its quarterly earnings results on Tuesday, February 24th. The real estate investment trust reported $1.75 EPS for the quarter, missing analysts’ consensus estimates of $2.54 by ($0.79). American Tower had a net margin of 23.76% and a return on equity of 24.36%. The firm 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 business earned $2.62 EPS. The business’s revenue was up 7.5% compared to the same quarter last year. American Tower has set its FY 2026 guidance at 10.780-10.950 EPS. On average, research analysts forecast that American Tower Corporation will post 10.14 earnings per share for the current fiscal year.

American Tower Increases Dividend

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

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.