Evelyn Partners Investment Management LLP Cuts Position in American Tower Corporation $AMT

Evelyn Partners Investment Management LLP trimmed its position in shares of American Tower Corporation (NYSE:AMT) by 30.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 54,579 shares of the real estate investment trust’s stock after selling 24,001 shares during the period. Evelyn Partners Investment Management LLP’s holdings in American Tower were worth $9,582,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in American Tower by 1.0% in the third quarter. Vanguard Group Inc. now owns 63,640,168 shares of the real estate investment trust’s stock valued at $12,239,277,000 after purchasing an additional 611,801 shares during the last quarter. State Street Corp increased its stake in American Tower by 0.3% in the fourth quarter. State Street Corp now owns 20,987,534 shares of the real estate investment trust’s stock valued at $3,719,634,000 after purchasing an additional 71,605 shares during the last quarter. Geode Capital Management LLC increased its stake in American Tower by 1.7% in the fourth quarter. Geode Capital Management LLC now owns 13,499,035 shares of the real estate investment trust’s stock valued at $2,361,675,000 after purchasing an additional 227,361 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in American Tower by 20,721.6% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 9,712,672 shares of the real estate investment trust’s stock valued at $1,705,254,000 after purchasing an additional 9,666,025 shares during the last quarter. Finally, Invesco Ltd. increased its stake in American Tower by 3.1% in the third quarter. Invesco Ltd. now owns 6,888,633 shares of the real estate investment trust’s stock valued at $1,324,822,000 after purchasing an additional 208,109 shares during the last quarter. 92.69% of the stock is currently owned by hedge funds and other institutional investors.

American Tower Price Performance

AMT stock opened at $187.20 on Friday. The company has a market capitalization of $87.22 billion, a P/E ratio of 30.24, a PEG ratio of 0.78 and a beta of 0.90. American Tower Corporation has a twelve month low of $165.08 and a twelve month high of $234.33. The business has a 50 day simple moving average of $181.01 and a 200-day simple moving average of $179.92. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 3.07.

American Tower (NYSE:AMT) last posted its quarterly earnings data on Tuesday, April 28th. The real estate investment trust reported $2.84 earnings per share for the quarter, beating the consensus estimate of $1.60 by $1.24. The business had revenue of $2.74 billion during the quarter, compared to the consensus estimate of $2.66 billion. American Tower had a return on equity of 27.79% and a net margin of 26.81%.The company’s revenue was up 6.8% compared to the same quarter last year. During the same period in the prior year, the company earned $2.75 earnings per share. American Tower has set its FY 2026 guidance at 10.900-11.07 EPS. As a group, equities analysts anticipate that American Tower Corporation will post 10.67 EPS for the current year.

American Tower Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 13th. Stockholders of record on Friday, June 12th will be issued a $1.79 dividend. This represents a $7.16 annualized dividend and a dividend yield of 3.8%. The ex-dividend date of this dividend is Friday, June 12th. American Tower’s dividend payout ratio is presently 115.67%.

Insider Buying and Selling at American Tower

In other news, EVP Ruth T. Dowling sold 416 shares of the stock in a transaction that occurred on Wednesday, April 29th. The stock was sold at an average price of $177.54, for a total value of $73,856.64. Following the completion of the sale, the executive vice president directly owned 29,461 shares of the company’s stock, valued at approximately $5,230,505.94. This represents a 1.39% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.08% of the company’s stock.

Analyst Upgrades and Downgrades

AMT has been the topic of several recent analyst reports. TD Cowen dropped their price target on shares of American Tower from $235.00 to $225.00 in a research note on Wednesday, February 25th. Raymond James Financial reiterated a “strong-buy” rating and issued a $240.00 price target on shares of American Tower 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 research note on Tuesday, May 19th. Citizens Jmp reiterated a “market outperform” rating and issued a $260.00 price target on shares of American Tower in a research note on Wednesday, April 29th. Finally, BMO Capital Markets increased their price target on shares of American Tower from $185.00 to $200.00 and gave the company a “market perform” rating in a research note on Wednesday, February 25th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $216.20.

American Tower 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.