ABC Arbitrage SA Sells 10,258 Shares of American Tower Corporation $AMT

ABC Arbitrage SA cut its holdings in American Tower Corporation (NYSE:AMT) by 48.2% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 11,022 shares of the real estate investment trust’s stock after selling 10,258 shares during the quarter. ABC Arbitrage SA’s holdings in American Tower were worth $1,935,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. AG2R LA Mondiale Gestion D Actifs lifted its stake in American Tower by 10.4% in the fourth quarter. AG2R LA Mondiale Gestion D Actifs now owns 20,024 shares of the real estate investment trust’s stock valued at $3,516,000 after buying an additional 1,887 shares in the last quarter. Mirabaud Asset Management Ltd raised its holdings in shares of American Tower by 10.7% during the fourth quarter. Mirabaud Asset Management Ltd now owns 8,052 shares of the real estate investment trust’s stock worth $1,557,000 after acquiring an additional 780 shares during the period. Nicholas Company Inc. raised its holdings in shares of American Tower by 11.2% during the fourth quarter. Nicholas Company Inc. now owns 37,795 shares of the real estate investment trust’s stock worth $6,636,000 after acquiring an additional 3,795 shares during the period. Swiss Life Asset Management Ltd lifted its position in American Tower by 13.9% in the 4th quarter. Swiss Life Asset Management Ltd now owns 101,993 shares of the real estate investment trust’s stock valued at $17,907,000 after acquiring an additional 12,464 shares in the last quarter. Finally, Pure Financial Advisors LLC acquired a new position in American Tower in the 4th quarter worth $295,000. 92.69% of the stock is currently owned by institutional investors and hedge funds.

American Tower Stock Performance

Shares of NYSE AMT opened at $177.44 on Tuesday. 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 has a 50 day moving average price of $179.18 and a 200 day moving average price of $179.52. The stock has a market capitalization of $82.67 billion, a PE ratio of 28.67, a price-to-earnings-growth ratio of 0.74 and a beta of 0.90. American Tower Corporation has a 52 week low of $165.08 and a 52 week high of $234.33.

American Tower (NYSE:AMT) last announced its quarterly earnings data 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. The company had revenue of $2.74 billion for the quarter, compared to analysts’ expectations of $2.66 billion. American Tower had a return on equity of 27.79% and a net margin of 26.81%.The business’s revenue was up 6.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.75 EPS. American Tower has set its FY 2026 guidance at 10.900-11.07 EPS. Analysts predict that American Tower Corporation will post 10.67 earnings per share for the current fiscal year.

American Tower Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 28th. Shareholders of record on Tuesday, April 14th were given a dividend of $1.79 per share. This represents a $7.16 annualized dividend and a yield of 4.0%. This is an increase from American Tower’s previous quarterly dividend of $1.70. The ex-dividend date of this dividend was Tuesday, April 14th. American Tower’s payout ratio is currently 115.67%.

Insider Buying and Selling at American Tower

In other news, COO Eugene M. Noel sold 41,209 shares of the company’s stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $191.05, for a total value of $7,872,979.45. Following the sale, the chief operating officer directly owned 29,592 shares of the company’s stock, valued at approximately $5,653,551.60. This represents a 58.20% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Rajesh Kalathur purchased 2,671 shares of American Tower stock in a transaction that occurred on Tuesday, March 10th. The shares were acquired at an average price of $185.30 per share, with a total value of $494,936.30. Following the acquisition, the director directly owned 4,936 shares of the company’s stock, valued at $914,640.80. This trade represents a 117.92% increase in their position. The SEC filing for this purchase provides additional information. Insiders sold a total of 42,181 shares of company stock worth $8,046,071 over the last quarter. 0.08% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Barclays dropped 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. Raymond James Financial reiterated a “strong-buy” rating and set a $240.00 price objective on shares of American Tower in a report on Wednesday, April 29th. JPMorgan Chase & Co. cut their target price on American Tower from $245.00 to $240.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 29th. Jefferies Financial Group upped their price target on American Tower from $209.00 to $210.00 and gave the stock a “buy” rating in a research report on Tuesday, April 14th. Finally, Mizuho raised shares of American Tower from a “neutral” rating to an “outperform” rating and raised their price target for the stock from $189.00 to $205.00 in a research note on Wednesday, April 15th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $218.05.

American Tower Company 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.