Burney Co. Sells 5,163 Shares of American Tower Corporation $AMT

Burney Co. lowered its position in American Tower Corporation (NYSE:AMT) by 46.1% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,037 shares of the real estate investment trust’s stock after selling 5,163 shares during the quarter. Burney Co.’s holdings in American Tower were worth $1,042,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in AMT. Oakworth Capital Inc. lifted its holdings in shares of American Tower by 90.7% during the fourth quarter. Oakworth Capital Inc. now owns 143 shares of the real estate investment trust’s stock worth $25,000 after purchasing an additional 68 shares during the period. Richards Merrill & Peterson Inc. acquired a new position in shares of American Tower in the fourth quarter worth approximately $25,000. Swiss RE Ltd. bought a new stake in American Tower in the fourth quarter valued at approximately $25,000. Triumph Capital Management bought a new position in American Tower during the 3rd quarter worth approximately $29,000. Finally, Holos Integrated Wealth LLC acquired a new position in shares of American Tower in the 4th quarter worth approximately $27,000. Institutional investors own 92.69% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Ruth T. Dowling sold 556 shares of the company’s stock in a transaction that occurred on Tuesday, April 28th. The stock was sold at an average price of $178.48, for a total transaction of $99,234.88. Following the transaction, the executive vice president directly owned 29,877 shares of the company’s stock, valued at approximately $5,332,446.96. This represents a 1.83% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.08% of the company’s stock.

American Tower Stock Down 0.1%

Shares of NYSE AMT opened at $165.04 on Thursday. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 3.07. The firm has a market cap of $76.89 billion, a PE ratio of 26.66, a P/E/G ratio of 0.69 and a beta of 0.91. The company’s fifty day simple moving average is $179.12 and its 200 day simple moving average is $179.02. American Tower Corporation has a 12-month low of $160.06 and a 12-month high of $234.33.

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

American Tower Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 13th. Investors 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 4.3%. The ex-dividend date of this dividend is Friday, June 12th. American Tower’s payout ratio is presently 115.67%.

Wall Street Analysts Forecast Growth

AMT has been the subject of several recent analyst reports. Scotiabank increased their price objective on shares of American Tower from $214.00 to $218.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 29th. Mizuho upgraded shares of American Tower from a “neutral” rating to an “outperform” rating and boosted their target price for the company from $189.00 to $205.00 in a report on Wednesday, April 15th. Wolfe Research upgraded American Tower to an “outperform” rating and set a $188.00 price target for the company in a report on Wednesday. Weiss Ratings lowered American Tower from a “hold (c)” rating to a “hold (c-)” rating in a research report on Monday, June 29th. Finally, Barclays cut their target price on American Tower from $200.00 to $195.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 16th. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, American Tower presently has a consensus rating of “Moderate Buy” and a consensus price target of $215.57.

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.