American Tower Corporation $AMT Position Reduced by Fisher Funds Management LTD

Fisher Funds Management LTD reduced its stake in shares of American Tower Corporation (NYSE:AMT) by 27.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 209,470 shares of the real estate investment trust’s stock after selling 78,211 shares during the period. Fisher Funds Management LTD’s holdings in American Tower were worth $36,150,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. J. Stern & Co. LLP lifted its position in shares of American Tower by 28,121.1% during the fourth quarter. J. Stern & Co. LLP now owns 37,686,978 shares of the real estate investment trust’s stock worth $6,616,703,000 after purchasing an additional 37,553,436 shares during the last quarter. State Street Corp grew its stake in American Tower by 0.3% in the fourth quarter. State Street Corp now owns 20,987,534 shares of the real estate investment trust’s stock worth $3,719,634,000 after purchasing an additional 71,605 shares in the last quarter. Geode Capital Management LLC grew its stake in American Tower by 1.7% in the fourth quarter. Geode Capital Management LLC now owns 13,499,035 shares of the real estate investment trust’s stock worth $2,361,675,000 after purchasing an additional 227,361 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its holdings 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 buying an additional 9,666,025 shares during the last quarter. Finally, Invesco Ltd. raised its stake in American Tower by 0.9% during the fourth quarter. Invesco Ltd. now owns 6,948,190 shares of the real estate investment trust’s stock valued at $1,219,894,000 after buying an additional 59,557 shares in the last quarter. Institutional investors own 92.69% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Mizuho raised American Tower from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $189.00 to $205.00 in a report on Wednesday, April 15th. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $195.00 price target on shares of American Tower in a report on Thursday, April 30th. UBS Group dropped their price target on American Tower from $254.00 to $248.00 and set a “buy” rating on the stock in a research report on Wednesday, February 25th. JPMorgan Chase & Co. reduced their price objective on American Tower from $245.00 to $240.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 29th. Finally, Barclays decreased their price objective on shares of American Tower from $200.00 to $195.00 and set an “equal weight” rating for the company in a report on Thursday, April 16th. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $216.20.

American Tower Stock Performance

Shares of AMT stock opened at $175.66 on Monday. The company has a market cap of $81.84 billion, a P/E ratio of 28.38, a PEG ratio of 0.74 and a beta of 0.90. The business has a 50 day moving average of $181.59 and a two-hundred day moving average of $179.94. American Tower Corporation has a 52 week low of $165.08 and a 52 week high of $234.33. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 3.07.

American Tower (NYSE:AMT) last announced its quarterly earnings results on Tuesday, April 28th. The real estate investment trust reported $2.84 earnings per share for the quarter, topping analysts’ consensus estimates of $1.60 by $1.24. The business had revenue of $2.74 billion for the quarter, compared to analysts’ expectations of $2.66 billion. American Tower had a return on equity of 27.79% and a net margin of 26.81%.The business’s quarterly revenue was up 6.8% on a year-over-year basis. During the same period in the prior year, the firm earned $2.75 EPS. American Tower has set its FY 2026 guidance at 10.900-11.07 EPS. As a group, analysts anticipate that American Tower Corporation will post 10.66 EPS for the current year.

American Tower Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 13th. Investors of record on Friday, June 12th will be paid a dividend of $1.79 per share. This represents a $7.16 dividend on an annualized basis and a yield of 4.1%. The ex-dividend date is Friday, June 12th. American Tower’s dividend payout ratio is presently 115.67%.

Insiders Place Their Bets

In other American Tower news, EVP Ruth T. Dowling sold 416 shares of the stock in a transaction on Wednesday, April 29th. The stock was sold at an average price of $177.54, for a total value of $73,856.64. Following the sale, the executive vice president directly owned 29,461 shares of the company’s stock, valued at $5,230,505.94. This trade represents a 1.39% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.08% of the stock is owned by corporate 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.