American Tower Corporation $AMT Shares Sold by Carnegie Investment Counsel

Carnegie Investment Counsel reduced its stake in American Tower Corporation (NYSE:AMT) by 25.2% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 87,256 shares of the real estate investment trust’s stock after selling 29,349 shares during the period. Carnegie Investment Counsel’s holdings in American Tower were worth $15,059,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. J. Stern & Co. LLP grew its stake in American Tower by 28,121.1% during the 4th quarter. J. Stern & Co. LLP now owns 37,686,978 shares of the real estate investment trust’s stock worth $6,616,703,000 after buying an additional 37,553,436 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted 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 buying an additional 9,666,025 shares during the last quarter. Norges Bank bought a new stake in American Tower in the fourth quarter valued at $1,171,180,000. Lazard Asset Management LLC boosted its holdings in shares of American Tower by 1,984.8% during the third quarter. Lazard Asset Management LLC now owns 4,464,382 shares of the real estate investment trust’s stock valued at $858,552,000 after acquiring an additional 4,250,242 shares during the period. Finally, Capital International Investors grew its position in shares of American Tower by 157.0% during the fourth quarter. Capital International Investors now owns 3,871,368 shares of the real estate investment trust’s stock worth $679,696,000 after acquiring an additional 2,364,898 shares during the last quarter. 92.69% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have commented on AMT shares. Scotiabank upped their target price on shares of American Tower from $214.00 to $218.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 29th. Jefferies Financial Group lifted their price target on American Tower from $209.00 to $210.00 and gave the company a “buy” rating in a report on Tuesday, April 14th. Sanford C. Bernstein raised American Tower from a “market perform” rating to an “outperform” rating and set a $207.00 price objective for the company in a report on Tuesday, May 19th. Truist Financial raised their target price on American Tower from $205.00 to $208.00 and gave the company a “buy” rating in a research report on Thursday, April 30th. Finally, JPMorgan Chase & Co. cut their target price on American Tower from $245.00 to $240.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 29th. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $215.57.

Insider Buying and Selling at American Tower

In other American Tower news, EVP Ruth T. Dowling sold 556 shares of the firm’s stock in a transaction dated Tuesday, April 28th. The stock was sold at an average price of $178.48, for a total transaction of $99,234.88. Following the completion of the sale, the executive vice president directly owned 29,877 shares in the company, valued at approximately $5,332,446.96. This trade represents a 1.83% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.08% of the company’s stock.

American Tower Price Performance

Shares of NYSE AMT traded up $3.69 during midday trading on Friday, reaching $168.69. The company’s stock had a trading volume of 2,458,176 shares, compared to its average volume of 3,439,682. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 3.07. The company has a 50 day moving average price of $178.66 and a 200 day moving average price of $178.89. American Tower Corporation has a one year low of $160.06 and a one year high of $234.33. The company has a market cap of $78.59 billion, a price-to-earnings ratio of 27.25, a price-to-earnings-growth ratio of 0.70 and a beta of 0.91.

American Tower (NYSE:AMT) last issued its quarterly earnings results on Tuesday, April 28th. The real estate investment trust reported $2.84 earnings per share for the quarter, topping analysts’ consensus estimates of $1.60 by $1.24. American Tower had a return on equity of 27.79% and a net margin of 26.81%.The firm had revenue of $2.74 billion for the quarter, compared to analysts’ expectations of $2.66 billion. During the same quarter last year, the business posted $2.75 EPS. American Tower’s revenue was up 6.8% on a year-over-year basis. American Tower has set its FY 2026 guidance at 10.900-11.07 EPS. On average, equities research analysts expect that American Tower Corporation will post 10.66 EPS for the current year.

American Tower Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 13th. Stockholders of record on Friday, June 12th will be given a $1.79 dividend. This represents a $7.16 annualized dividend and a dividend yield of 4.2%. The ex-dividend date of this dividend is Friday, June 12th. American Tower’s dividend payout ratio (DPR) is 115.67%.

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.