Ruth Dowling Sells 685 Shares of American Tower (NYSE:AMT) Stock

American Tower Corporation (NYSE:AMT) EVP Ruth Dowling sold 685 shares of the company’s stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $169.54, for a total transaction of $116,134.90. Following the completion of the transaction, the executive vice president owned 28,817 shares in the company, valued at approximately $4,885,634.18. This trade represents a 2.32% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

American Tower Trading Down 0.4%

Shares of AMT stock opened at $173.82 on Friday. American Tower Corporation has a 12-month low of $160.06 and a 12-month high of $217.39. The company has a market capitalization of $80.98 billion, a PE ratio of 23.91, a price-to-earnings-growth ratio of 2.80 and a beta of 0.91. The firm has a 50 day moving average price of $175.87 and a two-hundred day moving average price of $178.39. The company has a quick ratio of 0.43, a current ratio of 0.52 and a debt-to-equity ratio of 3.12.

American Tower (NYSE:AMT) last posted its earnings results on Tuesday, April 28th. The real estate investment trust reported $2.84 EPS for the quarter, beating the consensus estimate of $1.60 by $1.24. The company had revenue of $2.74 billion for the quarter, compared to the consensus estimate of $2.66 billion. American Tower had a return on equity of 32.76% and a net margin of 31.08%.The firm’s revenue for the quarter was up 6.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.75 earnings per share. As a group, analysts predict that American Tower Corporation will post 10.66 earnings per share for the current year.

American Tower Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, July 13th. Investors of record on Friday, June 12th were paid a $1.79 dividend. The ex-dividend date was Friday, June 12th. This represents a $7.16 annualized dividend and a yield of 4.1%. American Tower’s payout ratio is 98.49%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. The Goldman Sachs Group set a $210.00 target price on American Tower in a report on Tuesday. Sanford C. Bernstein restated an “outperform” rating and issued a $214.00 price target on shares of American Tower in a research note on Wednesday. Raymond James Financial reaffirmed a “strong-buy” rating and set a $240.00 price target on shares of American Tower in a research report on Wednesday, April 29th. Citizens Jmp reiterated a “market outperform” rating and issued a $260.00 price objective on shares of American Tower in a research note on Wednesday, April 29th. Finally, JPMorgan Chase & Co. cut their price objective on shares of American Tower from $245.00 to $240.00 and set an “overweight” rating for the company in a report on Wednesday, April 29th. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $215.19.

Hedge Funds Weigh In On American Tower

Hedge funds have recently added to or reduced their stakes in the stock. Brighton Jones LLC lifted its position in shares of American Tower by 113.0% during the 4th quarter. Brighton Jones LLC now owns 3,966 shares of the real estate investment trust’s stock valued at $727,000 after acquiring an additional 2,104 shares during the period. Sivia Capital Partners LLC grew its holdings in shares of American Tower by 34.3% during the 2nd quarter. Sivia Capital Partners LLC now owns 1,442 shares of the real estate investment trust’s stock worth $319,000 after purchasing an additional 368 shares in the last quarter. United Bank increased its position in shares of American Tower by 12.7% in the second quarter. United Bank now owns 6,488 shares of the real estate investment trust’s stock worth $1,434,000 after purchasing an additional 733 shares during the period. Treasurer of the State of North Carolina increased its position in shares of American Tower by 2.2% in the second quarter. Treasurer of the State of North Carolina now owns 218,511 shares of the real estate investment trust’s stock worth $48,295,000 after purchasing an additional 4,778 shares during the period. Finally, Ieq Capital LLC raised its stake in American Tower by 52.2% in the second quarter. Ieq Capital LLC now owns 34,248 shares of the real estate investment trust’s stock valued at $7,570,000 after purchasing an additional 11,751 shares in the last quarter. Institutional investors own 92.69% of the company’s stock.

More American Tower News

Here are the key news stories impacting American Tower this week:

• Positive Sentiment: Analysts raised their valuation expectations for American Tower. One firm lifted its price target to $220, while BMO Capital Markets increased its target to $195, suggesting potential upside from recent trading levels. American Tower Price Target Raised to $220 BMO Raises American Tower Price Target
• Positive Sentiment: American Tower’s latest results were stronger than expected, with revenue up 6.8% year over year to $2.74 billion and EPS of $2.84 versus the $1.60 consensus estimate. Record CoreSite data-center leasing and continued demand from cloud and artificial-intelligence infrastructure provide additional growth support.
• Neutral Sentiment: EVP Ruth Dowling sold 1,791 shares across two transactions for approximately $309,641 under a pre-arranged Rule 10b5-1 plan. Because the sales were scheduled and she retained a sizable stake, the transactions are a limited signal about management’s outlook. SEC Insider Trading Filing
• Negative Sentiment: CFO Robert Joseph Meyer sold 5,000 shares worth approximately $894,450, reducing his ownership by 18.92%. Although the sale does not necessarily indicate deteriorating fundamentals, the larger transaction may weigh on investor sentiment. CFO SEC Insider Trading Filing
• Negative Sentiment: American Tower remains highly leveraged, with a debt-to-equity ratio of 3.12, making it sensitive to higher interest rates. Rising borrowing costs can pressure REIT valuations and reduce the appeal of its approximately 4.1% dividend yield.

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.