Bartlett & CO. Wealth Management LLC Sells 29,635 Shares of American Tower Corporation $AMT

Bartlett & CO. Wealth Management LLC lessened its position in American Tower Corporation (NYSE:AMT) by 49.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 30,481 shares of the real estate investment trust’s stock after selling 29,635 shares during the period. Bartlett & CO. Wealth Management LLC’s holdings in American Tower were worth $5,513,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in AMT. Raleigh Capital Management Inc. boosted its holdings in American Tower by 489.1% in the first quarter. Raleigh Capital Management Inc. now owns 13,703 shares of the real estate investment trust’s stock worth $2,365,000 after purchasing an additional 11,377 shares during the last quarter. Canal Capital Management LLC raised its stake in American Tower by 81.9% during the 1st quarter. Canal Capital Management LLC now owns 34,471 shares of the real estate investment trust’s stock valued at $5,949,000 after buying an additional 15,520 shares during the last quarter. Bernzott Capital Advisors raised its stake in American Tower by 29.3% during the 1st quarter. Bernzott Capital Advisors now owns 42,161 shares of the real estate investment trust’s stock valued at $7,276,000 after buying an additional 9,556 shares during the last quarter. Legal & General Group Plc lifted its holdings in shares of American Tower by 4.7% during the 4th quarter. Legal & General Group Plc now owns 4,873,695 shares of the real estate investment trust’s stock valued at $855,675,000 after buying an additional 220,447 shares during the period. Finally, Nordea Investment Management AB lifted its holdings in shares of American Tower by 10.4% during the 4th quarter. Nordea Investment Management AB now owns 1,743,321 shares of the real estate investment trust’s stock valued at $306,284,000 after buying an additional 164,645 shares during the period. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Insider Buying and Selling at American Tower

In related news, EVP Ruth T. Dowling sold 556 shares of the firm’s stock in a transaction on Tuesday, April 28th. The shares were sold at an average price of $178.48, for a total transaction of $99,234.88. Following the completion of the transaction, the executive vice president directly owned 29,877 shares of the company’s stock, valued at approximately $5,332,446.96. This trade represents a 1.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.08% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently commented on AMT. Mizuho raised American Tower from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $189.00 to $205.00 in a report on Wednesday, April 15th. Royal Bank Of Canada raised American Tower from a “sector perform” rating to an “outperform” rating and increased their target price for the company from $195.00 to $205.00 in a report on Friday, June 26th. JPMorgan Chase & Co. dropped their target price on American Tower from $245.00 to $240.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 29th. Sanford C. Bernstein upgraded American Tower from a “market perform” rating to an “outperform” rating and set a $207.00 price target for the company in a research note on Tuesday, May 19th. Finally, Jefferies Financial Group upped their price target on shares of American Tower from $209.00 to $210.00 and gave the company a “buy” rating in a research report on Tuesday, April 14th. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, American Tower presently has an average rating of “Moderate Buy” and an average target price of $215.57.

American Tower Stock Performance

NYSE:AMT opened at $170.13 on Friday. The stock has a 50-day moving average price of $177.64 and a 200 day moving average price of $178.70. The stock has a market capitalization of $79.26 billion, a P/E ratio of 27.48, a P/E/G ratio of 0.71 and a beta of 0.91. American Tower Corporation has a 12-month low of $160.06 and a 12-month 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.

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, topping the consensus estimate of $1.60 by $1.24. American Tower had a return on equity of 27.79% and a net margin of 26.81%.The business had revenue of $2.74 billion during the quarter, compared to the consensus estimate of $2.66 billion. During the same period in the prior year, the company posted $2.75 EPS. The firm’s revenue for the quarter 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. Equities research analysts forecast that American Tower Corporation will post 10.66 EPS for the current fiscal year.

American Tower Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, July 13th. Investors of record on Friday, June 12th were given a dividend of $1.79 per share. The ex-dividend date was Friday, June 12th. This represents a $7.16 dividend on an annualized basis and a dividend yield of 4.2%. American Tower’s dividend payout ratio is currently 115.67%.

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.