Capital Research Global Investors Reduces Stock Position in American Tower Corporation $AMT

Capital Research Global Investors reduced its position in shares of American Tower Corporation (NYSE:AMT) by 20.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,922,588 shares of the real estate investment trust’s stock after selling 1,002,183 shares during the period. Capital Research Global Investors’ holdings in American Tower were worth $688,689,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Oakworth Capital Inc. boosted its holdings in shares of American Tower by 90.7% during the fourth quarter. Oakworth Capital Inc. now owns 143 shares of the real estate investment trust’s stock worth $25,000 after purchasing an additional 68 shares during the period. Richards Merrill & Peterson Inc. purchased a new stake in shares of American Tower during the fourth quarter worth about $25,000. Triumph Capital Management purchased a new stake in shares of American Tower during the third quarter worth about $29,000. Holos Integrated Wealth LLC purchased a new stake in shares of American Tower during the fourth quarter worth about $27,000. Finally, Lloyd Advisory Services LLC. purchased a new stake in shares of American Tower during the fourth quarter worth about $30,000. 92.69% of the stock is currently owned by hedge funds and other institutional investors.

American Tower Trading Down 0.1%

NYSE:AMT opened at $193.88 on Monday. The company has a 50-day moving average price of $179.08 and a 200-day moving average price of $179.58. American Tower Corporation has a 12 month low of $165.08 and a 12 month high of $234.33. 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 stock has a market cap of $90.33 billion, a price-to-earnings ratio of 31.32, a P/E/G ratio of 0.81 and a beta of 0.90.

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

American Tower Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 13th. Investors of record on Friday, June 12th will be paid a $1.79 dividend. This represents a $7.16 annualized dividend and a dividend yield of 3.7%. The ex-dividend date is Friday, June 12th. American Tower’s dividend payout ratio (DPR) is presently 115.67%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on AMT. UBS Group dropped their target price on shares of American Tower from $254.00 to $248.00 and set a “buy” rating for the company in a report on Wednesday, February 25th. Truist Financial increased their target price on shares of American Tower from $205.00 to $208.00 and gave the stock a “buy” rating in a report on Thursday, April 30th. Sanford C. Bernstein raised shares of American Tower from a “market perform” rating to an “outperform” rating and set a $207.00 target price for the company in a research report on Tuesday, May 19th. Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $195.00 target price on shares of American Tower in a research report on Thursday, April 30th. Finally, BMO Capital Markets raised their target price on shares of American Tower from $185.00 to $200.00 and gave the stock a “market perform” rating in a research report on Wednesday, February 25th. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, American Tower presently has a consensus rating of “Moderate Buy” and a consensus target price of $216.20.

Insider Activity

In related news, EVP Ruth T. Dowling sold 556 shares of the stock in a transaction dated Tuesday, April 28th. The shares were sold at an average price of $178.48, for a total value of $99,234.88. Following the completion of 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Rajesh Kalathur purchased 2,671 shares of the firm’s stock in a transaction that occurred on Tuesday, March 10th. The stock was acquired at an average price of $185.30 per share, with a total value of $494,936.30. Following the completion of the purchase, the director owned 4,936 shares in the company, valued at $914,640.80. This represents 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.

About American Tower

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.