Arrowstreet Capital Limited Partnership Sells 73,166 Shares of American Tower Corporation $AMT

Arrowstreet Capital Limited Partnership trimmed its position in shares of American Tower Corporation (NYSE:AMT) by 1.7% during the first quarter, HoldingsChannel.com reports. The firm owned 4,195,978 shares of the real estate investment trust’s stock after selling 73,166 shares during the period. Arrowstreet Capital Limited Partnership’s holdings in American Tower were worth $724,142,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Raleigh Capital Management Inc. boosted its holdings in shares of 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 valued at $2,365,000 after acquiring an additional 11,377 shares in the last quarter. Canal Capital Management LLC raised its holdings in American Tower by 81.9% during the first quarter. Canal Capital Management LLC now owns 34,471 shares of the real estate investment trust’s stock worth $5,949,000 after purchasing an additional 15,520 shares in the last quarter. Bernzott Capital Advisors raised its holdings in American Tower by 29.3% during the first quarter. Bernzott Capital Advisors now owns 42,161 shares of the real estate investment trust’s stock worth $7,276,000 after purchasing an additional 9,556 shares in the last quarter. Legal & General Group Plc lifted its position in American Tower by 4.7% in the fourth quarter. Legal & General Group Plc now owns 4,873,695 shares of the real estate investment trust’s stock worth $855,675,000 after purchasing an additional 220,447 shares during the period. Finally, Rathbones Group PLC boosted its stake in American Tower by 14.9% during the 4th quarter. Rathbones Group PLC now owns 474,216 shares of the real estate investment trust’s stock valued at $83,258,000 after purchasing an additional 61,428 shares in the last quarter. 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 416 shares of the company’s stock in a transaction dated Wednesday, April 29th. The shares were sold at an average price of $177.54, for a total transaction of $73,856.64. Following the completion of the sale, the executive vice president directly owned 29,461 shares of the company’s stock, valued at approximately $5,230,505.94. This represents a 1.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.08% of the company’s stock.

American Tower Stock Performance

AMT opened at $164.72 on Friday. 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 $76.74 billion, a PE ratio of 26.61, a P/E/G ratio of 0.69 and a beta of 0.91. The business has a fifty day simple moving average of $176.85 and a 200-day simple moving average of $178.43. American Tower Corporation has a fifty-two week low of $160.06 and a fifty-two week high of $234.33.

American Tower (NYSE:AMT) last announced 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 return on equity of 27.79% and a net margin of 26.81%.The company had revenue of $2.74 billion for the quarter, compared to analyst estimates of $2.66 billion. During the same period in the previous year, the firm earned $2.75 earnings per share. American Tower’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. As a group, equities analysts predict that American Tower Corporation will post 10.66 EPS for the current fiscal year.

American Tower Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 13th. Shareholders of record on Friday, June 12th were issued a dividend of $1.79 per share. This represents a $7.16 annualized dividend and a yield of 4.3%. The ex-dividend date was Friday, June 12th. American Tower’s payout ratio is presently 115.67%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on AMT shares. Truist Financial boosted their price objective on American Tower from $205.00 to $208.00 and gave the stock a “buy” rating in a research note on Thursday, April 30th. Barclays decreased their target price on American Tower from $200.00 to $195.00 and set an “equal weight” rating for the company in a research note on Thursday, April 16th. Citizens Jmp reaffirmed a “market outperform” rating and set a $260.00 target price on shares of American Tower in a report on Wednesday, April 29th. Raymond James Financial reissued a “strong-buy” rating and issued a $240.00 price target on shares of American Tower in a report on Wednesday, April 29th. Finally, The Goldman Sachs Group assumed coverage on shares of American Tower in a research report on Friday, June 26th. They set a “buy” rating and a $215.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, American Tower has an average rating of “Moderate Buy” and a consensus target price 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.