Edgar Lomax Co. VA Lowers Stake in American Tower Corporation $AMT

Edgar Lomax Co. VA lessened its holdings in American Tower Corporation (NYSE:AMT) by 22.5% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 21,045 shares of the real estate investment trust’s stock after selling 6,115 shares during the quarter. Edgar Lomax Co. VA’s holdings in American Tower were worth $4,047,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the business. Brighton Jones LLC boosted its holdings in American Tower by 113.0% in the fourth quarter. Brighton Jones LLC now owns 3,966 shares of the real estate investment trust’s stock worth $727,000 after acquiring an additional 2,104 shares in the last quarter. Sivia Capital Partners LLC boosted its stake in American Tower by 34.3% in the 2nd quarter. Sivia Capital Partners LLC now owns 1,442 shares of the real estate investment trust’s stock worth $319,000 after purchasing an additional 368 shares in the last quarter. United Bank grew its position in American Tower by 12.7% during the 2nd quarter. United Bank now owns 6,488 shares of the real estate investment trust’s stock valued at $1,434,000 after purchasing an additional 733 shares during the last quarter. Ellevest Inc. grew its position in American Tower by 18.0% during the 2nd quarter. Ellevest Inc. now owns 2,206 shares of the real estate investment trust’s stock valued at $488,000 after purchasing an additional 337 shares during the last quarter. Finally, GPS Wealth Strategies Group LLC increased its stake in American Tower by 2.0% during the 2nd quarter. GPS Wealth Strategies Group LLC now owns 2,566 shares of the real estate investment trust’s stock valued at $567,000 after purchasing an additional 51 shares in the last quarter. 92.69% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, COO Eugene M. Noel sold 41,209 shares of American Tower stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $191.05, for a total transaction of $7,872,979.45. Following the transaction, the chief operating officer directly owned 29,592 shares of the company’s stock, valued at $5,653,551.60. The trade was a 58.20% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Tower Corp /Ma/ American sold 2,288,621 shares of the stock in a transaction that occurred on Tuesday, December 9th. The stock was sold at an average price of $69.75, for a total transaction of $159,631,314.75. Following the completion of the sale, the insider directly owned 211,379 shares of the company’s stock, valued at $14,743,685.25. This represents a 91.54% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.17% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on AMT shares. Sanford C. Bernstein assumed coverage on shares of American Tower in a report on Thursday. They set a “market perform” rating and a $205.00 price target on the stock. Mizuho cut their target price on American Tower from $217.00 to $189.00 and set a “neutral” rating on the stock in a research note on Monday, January 12th. BMO Capital Markets lifted their target price on American Tower from $185.00 to $200.00 and gave the stock a “market perform” rating in a report on Wednesday, February 25th. Barclays reaffirmed an “equal weight” rating and set a $200.00 price target (down from $203.00) on shares of American Tower in a report on Monday, December 1st. Finally, Morgan Stanley reduced their price objective on American Tower from $225.00 to $220.00 and set an “overweight” rating for the company in a report on Wednesday, February 25th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $217.35.

American Tower Trading Down 1.7%

American Tower stock opened at $187.52 on Friday. American Tower Corporation has a 52-week low of $166.88 and a 52-week high of $234.33. The company has a market cap of $87.79 billion, a P/E ratio of 34.79, a P/E/G ratio of 0.80 and a beta of 0.92. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 3.27. The business has a 50-day simple moving average of $180.35 and a two-hundred day simple moving average of $185.25.

American Tower (NYSE:AMT) last announced its earnings results on Tuesday, February 24th. The real estate investment trust reported $1.75 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.54 by ($0.79). The business had revenue of $2.74 billion for the quarter, compared to the consensus estimate of $2.69 billion. American Tower had a net margin of 23.76% and a return on equity of 24.36%. The business’s quarterly revenue was up 7.5% compared to the same quarter last year. During the same quarter last year, the firm posted $2.62 earnings per share. American Tower has set its FY 2026 guidance at 10.780-10.950 EPS. Analysts predict that American Tower Corporation will post 10.14 EPS for the current year.

American Tower Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 28th. Shareholders of record on Tuesday, April 14th will be given a $1.79 dividend. The ex-dividend date is Tuesday, April 14th. This is a positive change from American Tower’s previous quarterly dividend of $1.70. This represents a $7.16 dividend on an annualized basis and a yield of 3.8%. American Tower’s dividend payout ratio (DPR) is currently 126.16%.

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.