Ruth Dowling Sells 1,106 Shares of American Tower (NYSE:AMT) Stock

American Tower Corporation (NYSE:AMT) EVP Ruth Dowling sold 1,106 shares of the stock in a transaction that occurred on Wednesday, July 29th. The stock was sold at an average price of $174.96, for a total transaction of $193,505.76. Following the transaction, the executive vice president directly owned 27,711 shares of the company’s stock, valued at $4,848,316.56. The trade was a 3.84% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

American Tower Stock Down 0.4%

American Tower stock opened at $173.82 on Friday. The company has a market capitalization of $80.98 billion, a PE ratio of 23.91, a price-to-earnings-growth ratio of 2.80 and a beta of 0.91. The company has a debt-to-equity ratio of 3.12, a quick ratio of 0.43 and a current ratio of 0.52. American Tower Corporation has a fifty-two week low of $160.06 and a fifty-two week high of $217.39. The firm has a 50 day moving average price of $175.87 and a 200 day moving average price of $178.39.

American Tower (NYSE:AMT) last released its quarterly earnings results on Tuesday, April 28th. The real estate investment trust reported $2.84 EPS for the quarter, topping analysts’ consensus estimates of $1.60 by $1.24. American Tower had a return on equity of 32.76% and a net margin of 31.08%.The company had revenue of $2.74 billion for the quarter, compared to analysts’ expectations of $2.66 billion. During the same period in the prior year, the firm earned $2.75 earnings per share. The firm’s revenue was up 6.8% compared to the same quarter last year. Research analysts expect that American Tower Corporation will post 10.66 earnings per share for the current year.

American Tower Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, July 13th. Investors of record on Friday, June 12th were paid a dividend of $1.79 per share. The ex-dividend date of this dividend was Friday, June 12th. This represents a $7.16 annualized dividend and a yield of 4.1%. American Tower’s dividend payout ratio is presently 98.49%.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the stock. Truist Financial boosted their price target on shares of American Tower from $205.00 to $208.00 and gave the stock a “buy” rating in a research note on Thursday, April 30th. Weiss Ratings upgraded shares of American Tower from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, July 14th. JPMorgan Chase & Co. cut their target price on shares of American Tower from $245.00 to $240.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 29th. Wolfe Research upgraded shares of American Tower from a “peer perform” rating to an “outperform” rating and set a $188.00 target price on the stock in a report on Wednesday, July 8th. Finally, Jefferies Financial Group decreased their price target on shares of American Tower from $210.00 to $201.00 and set a “buy” rating for the company in a research report on Wednesday, July 15th. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, American Tower currently has an average rating of “Moderate Buy” and an average target price of $215.19.

Institutional Trading of American Tower

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. J. Stern & Co. LLP grew its position in shares of American Tower by 28,121.1% in the 4th quarter. J. Stern & Co. LLP now owns 37,686,978 shares of the real estate investment trust’s stock valued at $6,616,703,000 after buying an additional 37,553,436 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its position 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 acquiring an additional 9,666,025 shares during the last quarter. Norges Bank purchased a new stake in American Tower in the fourth quarter valued at $1,171,180,000. Lazard Asset Management LLC boosted its stake in American Tower by 1,984.8% in 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 in the last quarter. Finally, Capital International Investors boosted its stake in American Tower by 157.0% in the fourth quarter. Capital International Investors now owns 3,871,368 shares of the real estate investment trust’s stock valued at $679,696,000 after acquiring an additional 2,364,898 shares in the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

American Tower News Summary

Here are the key news stories impacting American Tower this week:

• Positive Sentiment: Analysts raised their valuation expectations for American Tower. One firm lifted its price target to $220, while BMO Capital Markets increased its target to $195, suggesting potential upside from recent trading levels. American Tower Price Target Raised to $220 BMO Raises American Tower Price Target
• Positive Sentiment: American Tower’s latest results were stronger than expected, with revenue up 6.8% year over year to $2.74 billion and EPS of $2.84 versus the $1.60 consensus estimate. Record CoreSite data-center leasing and continued demand from cloud and artificial-intelligence infrastructure provide additional growth support.
• Neutral Sentiment: EVP Ruth Dowling sold 1,791 shares across two transactions for approximately $309,641 under a pre-arranged Rule 10b5-1 plan. Because the sales were scheduled and she retained a sizable stake, the transactions are a limited signal about management’s outlook. SEC Insider Trading Filing
• Negative Sentiment: CFO Robert Joseph Meyer sold 5,000 shares worth approximately $894,450, reducing his ownership by 18.92%. Although the sale does not necessarily indicate deteriorating fundamentals, the larger transaction may weigh on investor sentiment. CFO SEC Insider Trading Filing
• Negative Sentiment: American Tower remains highly leveraged, with a debt-to-equity ratio of 3.12, making it sensitive to higher interest rates. Rising borrowing costs can pressure REIT valuations and reduce the appeal of its approximately 4.1% dividend yield.

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.