American Tower Corporation $AMT Shares Sold by Carnegie Investment Counsel

Carnegie Investment Counsel decreased its stake in shares of American Tower Corporation (NYSE:AMT) by 25.2% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 87,256 shares of the real estate investment trust’s stock after selling 29,349 shares during the quarter. Carnegie Investment Counsel’s holdings in American Tower were worth $15,059,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. UNIVEST FINANCIAL Corp increased its holdings in shares of American Tower by 46.2% in the 1st quarter. UNIVEST FINANCIAL Corp now owns 65,143 shares of the real estate investment trust’s stock valued at $11,242,000 after acquiring an additional 20,585 shares during the last quarter. 180 Wealth Advisors LLC boosted its stake in American Tower by 2.2% during the 1st quarter. 180 Wealth Advisors LLC now owns 13,401 shares of the real estate investment trust’s stock worth $2,313,000 after purchasing an additional 290 shares during the period. Ferguson Wellman Capital Management Inc. boosted its stake in shares of American Tower by 10.1% during the first quarter. Ferguson Wellman Capital Management Inc. now owns 4,998 shares of the real estate investment trust’s stock worth $863,000 after buying an additional 458 shares during the period. Midwest Trust Co grew its stake in shares of American Tower by 12.6% in the 1st quarter. Midwest Trust Co now owns 119,749 shares of the real estate investment trust’s stock valued at $20,666,000 after purchasing an additional 13,413 shares during the last quarter. Finally, Fifth Third Bancorp increased its stake in American Tower by 28.5% in the 1st quarter. Fifth Third Bancorp now owns 117,471 shares of the real estate investment trust’s stock valued at $20,273,000 after buying an additional 26,077 shares during the period. Institutional investors and hedge funds own 92.69% of the company’s stock.

Insider Buying and Selling

In other American Tower news, EVP Ruth T. Dowling sold 556 shares of the company’s stock in a transaction dated 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 directly owned 29,877 shares of the company’s stock, valued at $5,332,446.96. This represents a 1.83% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.08% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on AMT shares. Barclays decreased their price target on American Tower from $200.00 to $195.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 16th. Scotiabank upped their price objective on American Tower from $214.00 to $218.00 and gave the company an “outperform” rating in a research report on Wednesday, April 29th. Citizens Jmp reaffirmed a “market outperform” rating and set a $260.00 price objective on shares of American Tower in a research note on Wednesday, April 29th. JPMorgan Chase & Co. dropped their price objective on American Tower from $245.00 to $240.00 and set an “overweight” rating for the company in a research report on Wednesday, April 29th. Finally, Wolfe Research raised shares of American Tower from a “peer perform” rating to an “outperform” rating and set a $188.00 target price for the company in a research note on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, American Tower currently has a consensus rating of “Moderate Buy” and an average target price of $215.57.

American Tower Trading Up 2.2%

American Tower stock traded up $3.69 during midday trading on Friday, reaching $168.69. The stock had a trading volume of 2,458,176 shares, compared to its average volume of 3,439,682. American Tower Corporation has a twelve month low of $160.06 and a twelve month high of $234.33. The stock has a market capitalization of $78.59 billion, a PE ratio of 27.25, a price-to-earnings-growth ratio of 0.70 and a beta of 0.91. The company has a debt-to-equity ratio of 3.07, a quick ratio of 0.43 and a current ratio of 0.43. The stock’s 50-day simple moving average is $178.66 and its 200 day simple moving average is $178.89.

American Tower (NYSE:AMT) last posted its earnings results on Tuesday, April 28th. The real estate investment trust reported $2.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 quarter in the prior year, the company earned $2.75 EPS. The company’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. Analysts expect that American Tower Corporation will post 10.66 EPS for the current year.

American Tower Dividend Announcement

The company also recently declared 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. The ex-dividend date of this dividend is Friday, June 12th. This represents a $7.16 annualized dividend and a yield of 4.2%. American Tower’s payout ratio is 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.