American Tower Corporation $AMT Stock Sold by Loring Wolcott & Coolidge Fiduciary Advisors LLP MA

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA decreased its stake in American Tower Corporation (NYSE:AMT) by 5.7% during the 3rd quarter, HoldingsChannel reports. The fund owned 1,066,781 shares of the real estate investment trust’s stock after selling 64,631 shares during the period. American Tower comprises approximately 1.7% of Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s portfolio, making the stock its 19th biggest holding. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s holdings in American Tower were worth $174,795,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Operose Advisors LLC acquired a new position in American Tower during the 2nd quarter valued at $25,000. Allied Private Wealth LLC bought a new stake in American Tower in the 2nd quarter valued at $29,000. Mowery & Schoenfeld Wealth Management LLC acquired a new stake in American Tower in the 2nd quarter worth $33,000. SBI Securities Co. Ltd. acquired a new stake in American Tower in the 3rd quarter worth $35,000. Finally, Kelleher Financial Advisors acquired a new stake in American Tower in the 2nd quarter worth $37,000. Institutional investors own 92.69% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Ruth T. Dowling sold 1,106 shares of the business’s stock in a transaction on Wednesday, July 29th. The shares were sold at an average price of $174.96, for a total value of $193,505.76. Following the sale, the executive vice president owned 27,711 shares in the company, valued at approximately $4,848,316.56. The trade was a 3.84% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Rajesh Kalathur bought 2,829 shares of the stock in a transaction dated Friday, August 21st. The stock was purchased at an average cost of $177.00 per share, for a total transaction of $500,733.00. Following the acquisition, the director owned 7,765 shares in the company, valued at $1,374,405. The trade was a 57.31% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders sold 6,791 shares of company stock worth $1,204,091 over the last three months. 0.08% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on AMT shares. Jefferies Financial Group dropped their price objective on shares of American Tower from $210.00 to $201.00 and set a “buy” rating on the stock in a report on Wednesday, July 15th. Wolfe Research upgraded 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, July 8th. Mizuho set a $208.00 target price on American Tower in a research report on Thursday, August 20th. BMO Capital Markets lifted their target price on American Tower from $190.00 to $195.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 29th. Finally, Weiss Ratings upgraded American Tower from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $214.90.

Key Headlines Impacting American Tower

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

• Positive Sentiment: Reports that SpaceX may pursue approximately 80,000 cell sites to support a nationwide wireless service boosted the outlook for tower operators. American Tower could benefit from new tenants, higher site utilization and incremental recurring rental revenue. SpaceX Talks Send Cell Tower Stocks Surging
• Positive Sentiment: Investors are also citing strong data-center leasing momentum at American Tower’s CoreSite business, adding a second growth catalyst alongside 5G deployments and traditional tower leasing. American Tower climbs as data-center leasing hits fresh records
• Positive Sentiment: Before its upcoming third-quarter report, analysts expect revenue and adjusted funds from operations to benefit from 5G activity, leasing demand and data-center growth. The company’s prior quarter exceeded earnings expectations and revenue increased year over year.
• Neutral Sentiment: Director Teresa Hillary Clarke disclosed several small purchases of American Tower shares, including a recent purchase at approximately $183 per share. The buying provides a modest confidence signal, but the transactions are small relative to the company’s market value and several disclosed trades are older.
• Negative Sentiment: Valuation concerns remain: an analyst recently reduced the price target, while commentary suggested American Tower’s former valuation discount has largely disappeared. This could limit further gains if quarterly results or guidance fail to exceed expectations. American Tower price target cut by Sanford C. Bernstein

American Tower Trading Up 0.1%

Shares of AMT opened at $189.25 on Monday. American Tower Corporation has a 1 year low of $160.06 and a 1 year high of $202.50. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 3.12. The stock has a 50 day simple moving average of $174.69 and a 200-day simple moving average of $175.73. The stock has a market cap of $88.18 billion, a PE ratio of 26.03, a PEG ratio of 3.03 and a beta of 0.88.

American Tower (NYSE:AMT) last posted its earnings results on Tuesday, July 28th. The real estate investment trust reported $2.71 EPS for the quarter, topping the consensus estimate of $1.57 by $1.14. The business had revenue of $2.75 billion during the quarter, compared to the consensus estimate of $2.70 billion. American Tower had a return on equity of 32.76% and a net margin of 31.08%. American Tower’s revenue was up 4.6% on a year-over-year basis. During the same quarter last year, the company earned $2.60 EPS. American Tower has set its FY 2026 guidance at 11.000-11.170 EPS. On average, sell-side analysts predict that American Tower Corporation will post 10.80 EPS for the current fiscal year.

American Tower Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 20th. Shareholders of record on Wednesday, September 30th were paid a dividend of $1.79 per share. This represents a $7.16 annualized dividend and a yield of 3.8%. The ex-dividend date was Wednesday, September 30th. American Tower’s dividend payout ratio is currently 98.49%.

About American Tower

American Tower Corporation (NYSE:AMT) is a real estate investment trust that owns, operates and develops wireless communications infrastructure. Its portfolio primarily includes communications towers, rooftop sites, distributed antenna systems and other infrastructure used by wireless carriers, broadcasters, governments and businesses to support voice, data and video communications.

The company leases space on its sites to multiple customers, allowing them to install antennas and related equipment without building and maintaining individual tower locations.