Easterly Investment Partners LLC Lowers Position in American Tower Corporation $AMT

Easterly Investment Partners LLC lowered its holdings in American Tower Corporation (NYSE:AMT) by 38.6% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 53,180 shares of the real estate investment trust’s stock after selling 33,480 shares during the period. Easterly Investment Partners LLC’s holdings in American Tower were worth $9,337,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Vanguard Group Inc. raised its holdings in shares of American Tower by 1.0% in the 3rd 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 acquiring an additional 611,801 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of American Tower by 1.7% in the 4th 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 acquiring an additional 227,361 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its holdings in shares of American Tower by 20,721.6% in the 4th 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 acquiring an additional 9,666,025 shares in the last quarter. Invesco Ltd. raised its holdings in shares of American Tower by 3.1% in the 3rd quarter. Invesco Ltd. now owns 6,888,633 shares of the real estate investment trust’s stock valued at $1,324,822,000 after acquiring an additional 208,109 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of American Tower in the 4th quarter valued at about $1,171,180,000. Hedge funds and other institutional investors own 92.69% of the company’s stock.

American Tower Price Performance

Shares of American Tower stock opened at $186.87 on Monday. 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 firm has a market capitalization of $87.06 billion, a PE ratio of 30.19, a price-to-earnings-growth ratio of 0.78 and a beta of 0.90. The business’s 50-day moving average price is $177.67 and its 200-day moving average price is $179.36. American Tower Corporation has a 12 month low of $165.08 and a 12 month high of $234.33.

American Tower (NYSE:AMT) last announced its quarterly earnings data on Tuesday, April 28th. The real estate investment trust reported $2.84 EPS for the quarter, beating the consensus estimate 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 analyst estimates of $2.66 billion. During the same period in the prior year, the company earned $2.75 EPS. The company’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. Sell-side analysts forecast that American Tower Corporation will post 10.67 EPS for the current fiscal year.

American Tower Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, July 13th. Investors of record on Friday, June 12th will be given a dividend of $1.79 per share. This represents a $7.16 annualized dividend and a yield of 3.8%. The ex-dividend date is Friday, June 12th. American Tower’s dividend payout ratio (DPR) is presently 115.67%.

Insider Activity at American Tower

In related news, EVP Ruth T. Dowling sold 556 shares of the firm’s stock in a transaction that occurred on Tuesday, April 28th. The stock was sold at an average price of $178.48, for a total transaction of $99,234.88. Following the transaction, the executive vice president directly owned 29,877 shares in the company, valued at $5,332,446.96. This trade represents a 1.83% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Rajesh Kalathur purchased 2,671 shares of American Tower stock in a transaction that occurred on Tuesday, March 10th. The shares were bought at an average price of $185.30 per share, for a total transaction of $494,936.30. Following the completion of the transaction, the director owned 4,936 shares in the company, valued at $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. 0.08% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms have weighed in on AMT. TD Cowen lowered their price target on American Tower from $235.00 to $225.00 in a report on Wednesday, February 25th. Royal Bank Of Canada reiterated a “sector perform” rating and set a $195.00 price objective on shares of American Tower in a research report on Thursday, April 30th. JPMorgan Chase & Co. reduced their price objective on American Tower from $245.00 to $240.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 29th. UBS Group reduced their price objective on American Tower from $254.00 to $248.00 and set a “buy” rating on the stock in a research report on Wednesday, February 25th. Finally, Jefferies Financial Group increased their price objective on American Tower from $209.00 to $210.00 and gave the company a “buy” rating in a research report on Tuesday, April 14th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $216.20.

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.