Canal Capital Management LLC Trims Stake in American Tower Corporation $AMT

Canal Capital Management LLC cut its stake in shares of American Tower Corporation (NYSE:AMT) by 39.0% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 18,951 shares of the real estate investment trust’s stock after selling 12,108 shares during the period. Canal Capital Management LLC’s holdings in American Tower were worth $3,328,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of AMT. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of American Tower by 8.9% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 96,793 shares of the real estate investment trust’s stock valued at $18,615,000 after buying an additional 7,872 shares in the last quarter. Eastern Bank increased its stake in American Tower by 69.6% in the 3rd quarter. Eastern Bank now owns 139,091 shares of the real estate investment trust’s stock worth $26,750,000 after buying an additional 57,078 shares in the last quarter. Machina Capital S.A.S. purchased a new stake in American Tower in the 3rd quarter worth $2,871,000. Krilogy Financial LLC bought a new stake in American Tower during the third quarter valued at about $1,044,000. Finally, Commerzbank Aktiengesellschaft FI lifted its position in shares of American Tower by 92.4% in the third quarter. Commerzbank Aktiengesellschaft FI now owns 61,397 shares of the real estate investment trust’s stock valued at $11,808,000 after acquiring an additional 29,486 shares in the last quarter. Institutional investors own 92.69% of the company’s stock.

Analyst Ratings Changes

AMT has been the subject of several research analyst reports. BMO Capital Markets increased their target price on American Tower from $185.00 to $200.00 and gave the stock a “market perform” rating in a research report on Wednesday, February 25th. Sanford C. Bernstein began coverage on American Tower in a report on Thursday, March 5th. They issued a “market perform” rating and a $205.00 price target on the stock. Mizuho dropped their price target on American Tower from $217.00 to $189.00 and set a “neutral” rating for the company in a research note on Monday, January 12th. Royal Bank Of Canada decreased their price target on shares of American Tower from $220.00 to $195.00 and set a “sector perform” rating on the stock in a research note on Monday, January 12th. Finally, The Goldman Sachs Group dropped their price objective on shares of American Tower from $230.00 to $210.00 and set a “buy” rating for the company in a report on Friday, January 16th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $217.35.

American Tower Stock Up 1.1%

NYSE AMT opened at $182.70 on Friday. The stock has a 50 day moving average price of $182.24 and a 200-day moving average price of $183.66. American Tower Corporation has a one year low of $166.88 and a one year high of $234.33. The company has a debt-to-equity ratio of 3.27, a quick ratio of 0.60 and a current ratio of 0.60. The company has a market capitalization of $85.15 billion, a P/E ratio of 33.90, a P/E/G ratio of 0.76 and a beta of 0.92.

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

American Tower Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 28th. Stockholders of record on Tuesday, April 14th will be issued a $1.79 dividend. This is a boost from American Tower’s previous quarterly dividend of $1.70. The ex-dividend date is Tuesday, April 14th. This represents a $7.16 dividend on an annualized basis and a dividend yield of 3.9%. American Tower’s payout ratio is presently 126.16%.

Insider Activity

In related news, Director Rajesh Kalathur purchased 2,671 shares of the company’s stock in a transaction that occurred on Tuesday, March 10th. The stock was 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 approximately $914,640.80. The trade was a 117.92% increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Eugene M. Noel sold 41,209 shares of the company’s stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $191.05, for a total value of $7,872,979.45. Following the sale, the chief operating officer owned 29,592 shares in the company, valued at approximately $5,653,551.60. This trade represents a 58.20% 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 currently owned by corporate insiders.

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.