QRG Capital Management Inc. Cuts Holdings in American Tower Corporation $AMT

QRG Capital Management Inc. lowered its position in shares of American Tower Corporation (NYSE:AMT) by 18.5% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 22,373 shares of the real estate investment trust’s stock after selling 5,082 shares during the quarter. QRG Capital Management Inc.’s holdings in American Tower were worth $3,928,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in American Tower by 1.0% in the 3rd quarter. Vanguard Group Inc. now owns 63,640,168 shares of the real estate investment trust’s stock worth $12,239,277,000 after acquiring an additional 611,801 shares during the period. Invesco Ltd. boosted its stake in shares of American Tower by 3.1% during the 3rd quarter. Invesco Ltd. now owns 6,888,633 shares of the real estate investment trust’s stock valued at $1,324,822,000 after buying an additional 208,109 shares during the last quarter. Capital Research Global Investors grew its position in shares of American Tower by 0.3% during the third quarter. Capital Research Global Investors now owns 4,924,771 shares of the real estate investment trust’s stock worth $947,132,000 after buying an additional 15,145 shares in the last quarter. Legal & General Group Plc grew its position in shares of American Tower by 3.5% during the third quarter. Legal & General Group Plc now owns 4,653,248 shares of the real estate investment trust’s stock worth $894,913,000 after buying an additional 159,223 shares in the last quarter. Finally, Lazard Asset Management LLC increased its stake in shares of American Tower by 1,984.8% in the third quarter. Lazard Asset Management LLC now owns 4,464,382 shares of the real estate investment trust’s stock worth $858,552,000 after buying an additional 4,250,242 shares during the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. The Goldman Sachs Group reduced their price objective on shares of American Tower from $230.00 to $210.00 and set a “buy” rating on the stock in a research note on Friday, January 16th. Mizuho upgraded shares of American Tower from a “neutral” rating to an “outperform” rating and upped their target price for the company from $189.00 to $205.00 in a research note on Wednesday, April 15th. Barclays decreased their price target on American Tower from $200.00 to $195.00 and set an “equal weight” rating for the company in a research note on Thursday, April 16th. Citizens Jmp reissued a “market outperform” rating and issued a $260.00 price objective on shares of American Tower in a report on Wednesday, April 29th. Finally, UBS Group cut their price objective on American Tower from $254.00 to $248.00 and set a “buy” rating on the stock in a research note on Wednesday, February 25th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, American Tower presently has a consensus rating of “Moderate Buy” and a consensus price target of $218.05.

Insider Buying and Selling

In other news, Director Rajesh Kalathur purchased 2,671 shares of the stock in a transaction dated Tuesday, March 10th. The stock was acquired at an average price of $185.30 per share, for a total transaction of $494,936.30. Following the completion of the transaction, the director owned 4,936 shares of the company’s stock, valued at approximately $914,640.80. The trade was a 117.92% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Ruth T. Dowling sold 416 shares of the stock in a transaction dated Wednesday, April 29th. The stock was sold at an average price of $177.54, for a total transaction of $73,856.64. Following the completion of the sale, the executive vice president directly owned 29,461 shares in the company, valued at approximately $5,230,505.94. This trade represents a 1.39% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 42,181 shares of company stock valued at $8,046,071. Insiders own 0.08% of the company’s stock.

American Tower Trading Up 1.1%

American Tower stock opened at $180.08 on Thursday. American Tower Corporation has a 1 year low of $165.08 and a 1 year high of $234.33. The firm’s 50-day moving average is $179.66 and its 200-day moving average is $179.82. 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 cap of $83.93 billion, a P/E ratio of 29.09, a PEG ratio of 0.74 and a beta of 0.90.

American Tower (NYSE:AMT) last released its quarterly earnings data on Tuesday, April 28th. The real estate investment trust reported $2.84 earnings per share for the quarter, topping the consensus estimate 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 analyst estimates of $2.66 billion. During the same quarter in the prior year, the business earned $2.75 earnings per share. American Tower’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, equities analysts expect that American Tower Corporation will post 10.67 earnings per share for the current year.

American Tower Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 28th. Investors of record on Tuesday, April 14th were issued a $1.79 dividend. This is a positive change from American Tower’s previous quarterly dividend of $1.70. The ex-dividend date of this dividend was Tuesday, April 14th. This represents a $7.16 annualized dividend and a dividend yield of 4.0%. American Tower’s dividend payout ratio (DPR) is 115.67%.

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.