Burney Co. Sells 5,163 Shares of American Tower Corporation $AMT

Burney Co. lessened its holdings in American Tower Corporation (NYSE:AMT) by 46.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,037 shares of the real estate investment trust’s stock after selling 5,163 shares during the period. Burney Co.’s holdings in American Tower were worth $1,042,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in AMT. Richards Merrill & Peterson Inc. purchased a new stake in shares of American Tower in the fourth quarter worth approximately $25,000. Oakworth Capital Inc. boosted its position in shares of American Tower by 90.7% during the fourth quarter. Oakworth Capital Inc. now owns 143 shares of the real estate investment trust’s stock valued at $25,000 after buying an additional 68 shares during the last quarter. Swiss RE Ltd. bought a new stake in American Tower during the fourth quarter worth $25,000. Holos Integrated Wealth LLC purchased a new stake in American Tower in the 4th quarter valued at $27,000. Finally, Triumph Capital Management purchased a new stake in American Tower in the 3rd quarter valued at $29,000. Institutional investors and hedge funds own 92.69% of the company’s stock.

American Tower Stock Performance

NYSE AMT opened at $165.04 on Thursday. American Tower Corporation has a 52-week low of $160.06 and a 52-week high of $234.33. The company has a 50-day simple moving average of $179.12 and a 200 day simple moving average of $179.02. 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 company has a market capitalization of $76.89 billion, a PE ratio of 26.66, a price-to-earnings-growth ratio of 0.69 and a beta of 0.91.

American Tower (NYSE:AMT) last released its earnings results on Tuesday, April 28th. The real estate investment trust reported $2.84 earnings per share for the quarter, beating 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 for the quarter, compared to analysts’ expectations of $2.66 billion. During the same period in the previous year, the company earned $2.75 earnings per share. The company’s quarterly 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. On average, research analysts predict that American Tower Corporation will post 10.66 EPS for the current year.

American Tower Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 13th. Investors of record on Friday, June 12th will be paid a $1.79 dividend. The ex-dividend date is Friday, June 12th. This represents a $7.16 annualized dividend and a yield of 4.3%. American Tower’s dividend payout ratio is presently 115.67%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on AMT shares. The Goldman Sachs Group began coverage on shares of American Tower in a report on Friday, June 26th. They set a “buy” rating and a $215.00 price objective on the stock. Royal Bank Of Canada raised shares of American Tower from a “sector perform” rating to an “outperform” rating and raised their price target for the company from $195.00 to $205.00 in a research report on Friday, June 26th. Mizuho raised shares of American Tower from a “neutral” rating to an “outperform” rating and upped their price objective for the stock from $189.00 to $205.00 in a research report on Wednesday, April 15th. JPMorgan Chase & Co. decreased their price objective on shares of American Tower from $245.00 to $240.00 and set an “overweight” rating for the company in a research note on Wednesday, April 29th. Finally, Jefferies Financial Group lifted their target price on shares of American Tower from $209.00 to $210.00 and gave the stock a “buy” rating in a research report on Tuesday, April 14th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $215.57.

Insiders Place Their Bets

In other American Tower news, EVP Ruth T. Dowling sold 556 shares of the stock in a transaction on Tuesday, April 28th. The stock was sold at an average price of $178.48, for a total transaction 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 approximately $5,332,446.96. This represents a 1.83% decrease in their ownership of the stock. 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. Company insiders own 0.08% of the company’s stock.

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.