American Tower Corporation $AMT Shares Sold by First Pacific Financial

First Pacific Financial decreased its holdings in shares of American Tower Corporation (NYSE:AMT) by 82.6% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 608 shares of the real estate investment trust’s stock after selling 2,896 shares during the quarter. First Pacific Financial’s holdings in American Tower were worth $100,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in AMT. Tenon Financial LLC acquired a new position in shares of American Tower during the 3rd quarter worth about $244,000. Investment Planning Advisors Inc. increased its stake in shares of American Tower by 16.4% in the 3rd quarter. Investment Planning Advisors Inc. now owns 1,636 shares of the real estate investment trust’s stock valued at $268,000 after acquiring an additional 231 shares during the last quarter. Seelaus Asset Management LLC raised its position in shares of American Tower by 8.6% in the 3rd quarter. Seelaus Asset Management LLC now owns 3,054 shares of the real estate investment trust’s stock valued at $500,000 after acquiring an additional 242 shares during the period. Generate Investment Management Ltd acquired a new stake in shares of American Tower in the 3rd quarter valued at approximately $5,969,000. Finally, First Citizens Bank & Trust Co. raised its position in shares of American Tower by 433.4% in the 3rd quarter. First Citizens Bank & Trust Co. now owns 7,516 shares of the real estate investment trust’s stock valued at $1,230,000 after acquiring an additional 6,107 shares during the period. Institutional investors and hedge funds own 92.69% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on AMT. The Goldman Sachs Group set a $210.00 target price on shares of American Tower in a research note on Tuesday, July 28th. Jefferies Financial Group reduced their price target on shares of American Tower from $210.00 to $201.00 and set a “buy” rating on the stock in a research report on Wednesday, July 15th. Sanford C. Bernstein reissued an “outperform” rating and set a $214.00 price target on shares of American Tower in a research report on Wednesday, July 29th. BMO Capital Markets boosted their price target on shares of American Tower from $190.00 to $195.00 and gave the company a “market perform” rating in a report on Wednesday, July 29th. Finally, Weiss Ratings lowered shares of American Tower from a “hold (c)” rating to a “hold (c-)” rating in a report on Thursday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $215.00.

American Tower Price Performance

Shares of NYSE AMT opened at $180.93 on Friday. The stock has a market capitalization of $84.30 billion, a price-to-earnings ratio of 24.89, a PEG ratio of 2.88 and a beta of 0.88. The business has a 50-day moving average of $173.32 and a 200-day moving average of $175.29. The company has a debt-to-equity ratio of 3.12, a current ratio of 0.52 and a quick ratio of 0.52. American Tower Corporation has a fifty-two week low of $160.06 and a fifty-two week high of $196.08.

American Tower (NYSE:AMT) last released its quarterly earnings data on Tuesday, July 28th. The real estate investment trust reported $2.71 EPS for the quarter, beating the consensus estimate of $1.57 by $1.14. The company 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%. The firm’s revenue for the quarter was up 4.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.60 EPS. American Tower has set its FY 2026 guidance at 11.000-11.170 EPS. As a group, sell-side analysts predict that American Tower Corporation will post 10.80 earnings per share for the current fiscal year.

American Tower Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 20th. Investors of record on Wednesday, September 30th will be issued a dividend of $1.79 per share. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $7.16 annualized dividend and a dividend yield of 4.0%. American Tower’s payout ratio is presently 98.49%.

Insider Buying and Selling

In other news, EVP Ruth T. Dowling sold 1,106 shares of the business’s stock in a transaction dated Wednesday, July 29th. The shares were sold at an average price of $174.96, for a total value of $193,505.76. Following the completion of the sale, the executive vice president owned 27,711 shares of the company’s stock, valued at approximately $4,848,316.56. The trade was a 3.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Robert Joseph Meyer sold 5,000 shares of the stock in a transaction that occurred on Wednesday, July 29th. The stock was sold at an average price of $178.89, for a total transaction of $894,450.00. Following the transaction, the chief financial officer owned 21,428 shares in the company, valued at approximately $3,833,254.92. The trade was a 18.92% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 6,791 shares of company stock valued at $1,204,091. Company insiders own 0.08% of the company’s stock.

About American Tower

American Tower Corporation (NYSE: AMT) is a global real estate investment trust that owns, operates and develops communications infrastructure. Its portfolio includes wireless and broadcast towers, rooftop sites, distributed antenna systems and other facilities that support wireless communications, television and radio broadcasting, government communications and other connectivity services.

The company leases space on its communications sites to wireless carriers, broadcasters, government agencies and other customers.