Wedge Capital Management L L P NC Cuts Stock Position in American Tower Corporation $AMT

Wedge Capital Management L L P NC trimmed its position in shares of American Tower Corporation (NYSE:AMT) by 18.1% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 48,987 shares of the real estate investment trust’s stock after selling 10,845 shares during the quarter. Wedge Capital Management L L P NC’s holdings in American Tower were worth $8,601,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Lazard Asset Management LLC grew its position in shares of American Tower by 1,984.8% in the 3rd quarter. Lazard Asset Management LLC now owns 4,464,382 shares of the real estate investment trust’s stock worth $858,552,000 after buying an additional 4,250,242 shares during the last quarter. Viking Global Investors LP lifted its position in American Tower by 233.5% during the second quarter. Viking Global Investors LP now owns 2,797,125 shares of the real estate investment trust’s stock valued at $618,221,000 after acquiring an additional 1,958,329 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC acquired a new stake in American Tower in the third quarter valued at approximately $305,872,000. Arrowstreet Capital Limited Partnership boosted its stake in American Tower by 35.0% in the third quarter. Arrowstreet Capital Limited Partnership now owns 2,796,007 shares of the real estate investment trust’s stock valued at $537,728,000 after acquiring an additional 724,504 shares in the last quarter. Finally, Invesco Ltd. grew its holdings in American Tower by 11.9% in the second quarter. Invesco Ltd. now owns 6,680,524 shares of the real estate investment trust’s stock worth $1,476,529,000 after purchasing an additional 708,808 shares during the last quarter. 92.69% of the stock is currently owned by institutional investors.

Insider Buying and Selling at American Tower

In other news, COO Eugene M. Noel sold 41,209 shares of the business’s stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $191.05, for a total value of $7,872,979.45. Following the completion of the transaction, the chief operating officer owned 29,592 shares of the company’s stock, valued at $5,653,551.60. The trade was a 58.20% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Rajesh Kalathur bought 2,671 shares of the stock in a transaction dated Tuesday, March 10th. The stock was bought 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. The trade was a 117.92% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 0.17% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

AMT has been the topic of a number of recent analyst reports. Scotiabank reduced their price target on American Tower from $220.00 to $214.00 and set a “sector outperform” rating on the stock in a research report on Wednesday, February 25th. Morgan Stanley dropped their target price on American Tower from $225.00 to $220.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 25th. The Goldman Sachs Group reduced their target price on American Tower from $230.00 to $210.00 and set a “buy” rating on the stock in a research report on Friday, January 16th. Weiss Ratings reiterated a “hold (c)” rating on shares of American Tower in a research note on Monday, December 29th. Finally, BMO Capital Markets raised their price target on American Tower from $185.00 to $200.00 and gave the stock a “market perform” rating in a report on Wednesday, February 25th. One investment 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. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $217.35.

American Tower Price Performance

Shares of NYSE:AMT opened at $170.01 on Friday. American Tower Corporation has a twelve month low of $165.08 and a twelve month high of $234.33. The company’s 50 day moving average is $181.70 and its 200 day moving average is $182.48. 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 has a market cap of $79.24 billion, a PE ratio of 31.54, a price-to-earnings-growth ratio of 0.71 and a beta of 0.92.

American Tower (NYSE:AMT) last released its quarterly earnings data on Tuesday, February 24th. The real estate investment trust reported $1.75 EPS for the quarter, missing the consensus estimate of $2.54 by ($0.79). The business had revenue of $2.74 billion during the quarter, compared to analysts’ expectations of $2.69 billion. American Tower had a net margin of 23.76% and a return on equity of 24.36%. The firm’s revenue was up 7.5% on a year-over-year basis. During the same period last year, the company earned $2.62 earnings per share. American Tower has set its FY 2026 guidance at 10.780-10.950 EPS. On average, sell-side analysts forecast that American Tower Corporation will post 10.14 EPS for the current year.

American Tower Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 28th. Investors of record on Tuesday, April 14th will be given a dividend of $1.79 per share. This is a boost from American Tower’s previous quarterly dividend of $1.70. This represents a $7.16 dividend on an annualized basis and a yield of 4.2%. The ex-dividend date is Tuesday, April 14th. American Tower’s payout ratio is presently 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.