Bridges Investment Management Inc. Has $8.70 Million Stake in American Tower Corporation $AMT

Bridges Investment Management Inc. decreased its stake in shares of American Tower Corporation (NYSE:AMT) by 8.3% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 49,527 shares of the real estate investment trust’s stock after selling 4,502 shares during the period. Bridges Investment Management Inc.’s holdings in American Tower were worth $8,696,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the stock. Brighton Jones LLC boosted its stake in American Tower by 113.0% during the 4th quarter. Brighton Jones LLC now owns 3,966 shares of the real estate investment trust’s stock valued at $727,000 after purchasing an additional 2,104 shares during the period. Sivia Capital Partners LLC boosted its stake in American Tower by 34.3% during the 2nd quarter. Sivia Capital Partners LLC now owns 1,442 shares of the real estate investment trust’s stock valued at $319,000 after purchasing an additional 368 shares during the period. United Bank boosted its stake 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 period. Treasurer of the State of North Carolina boosted its stake in American Tower by 2.2% during the 2nd quarter. Treasurer of the State of North Carolina now owns 218,511 shares of the real estate investment trust’s stock valued at $48,295,000 after purchasing an additional 4,778 shares during the period. Finally, Ieq Capital LLC boosted its stake in American Tower by 52.2% during the 2nd quarter. Ieq Capital LLC now owns 34,248 shares of the real estate investment trust’s stock valued at $7,570,000 after purchasing an additional 11,751 shares during the period. Institutional investors and hedge funds own 92.69% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on AMT shares. BMO Capital Markets increased their target price on American Tower from $185.00 to $200.00 and gave the company a “market perform” rating in a research note on Wednesday, February 25th. UBS Group decreased their target price on American Tower from $254.00 to $248.00 and set a “buy” rating for the company in a research note on Wednesday, February 25th. Truist Financial increased their target price on American Tower from $205.00 to $208.00 and gave the company a “buy” rating in a research note on Thursday, April 30th. JPMorgan Chase & Co. decreased their target price on American Tower from $245.00 to $240.00 and set an “overweight” rating for the company in a research note on Wednesday, April 29th. Finally, TD Cowen reduced their price objective on American Tower from $235.00 to $225.00 in a research report on Wednesday, February 25th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $216.20.

American Tower Trading Down 1.1%

Shares of AMT opened at $185.44 on Wednesday. American Tower Corporation has a 1 year low of $165.08 and a 1 year 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 50 day simple moving average of $177.78 and a 200-day simple moving average of $179.38. The stock has a market cap of $86.39 billion, a PE ratio of 29.96, a PEG ratio of 0.78 and a beta of 0.90.

American Tower (NYSE:AMT) last released its quarterly earnings results on Tuesday, April 28th. The real estate investment trust reported $2.84 earnings per share for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $2.66 billion. During the same period last year, the firm posted $2.75 EPS. The business’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. On average, sell-side analysts predict that American Tower Corporation will post 10.67 EPS for the current fiscal year.

American Tower Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 13th. Shareholders of record on Friday, June 12th will be given a $1.79 dividend. This represents a $7.16 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date is Friday, June 12th. American Tower’s dividend payout ratio (DPR) is presently 115.67%.

Insiders Place Their Bets

In other news, Director Rajesh Kalathur acquired 2,671 shares of the firm’s stock in a transaction on Tuesday, March 10th. The shares were purchased at an average cost of $185.30 per share, for a total transaction of $494,936.30. Following the transaction, the director owned 4,936 shares of the company’s stock, valued at approximately $914,640.80. This represents a 117.92% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Ruth T. Dowling sold 556 shares of the stock in a transaction on 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 owned 29,877 shares in the company, valued at $5,332,446.96. The trade was a 1.83% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.08% of the stock is currently owned by company insiders.

American Tower 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.