Turtle Creek Wealth Advisors LLC Decreases Holdings in American Tower Corporation $AMT

Turtle Creek Wealth Advisors LLC reduced its holdings in shares of American Tower Corporation (NYSE:AMT) by 70.2% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,212 shares of the real estate investment trust’s stock after selling 5,212 shares during the quarter. Turtle Creek Wealth Advisors LLC’s holdings in American Tower were worth $382,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the business. Brighton Jones LLC lifted its position in shares of American Tower by 113.0% during the 4th quarter. Brighton Jones LLC now owns 3,966 shares of the real estate investment trust’s stock worth $727,000 after buying an additional 2,104 shares during the last quarter. Sivia Capital Partners LLC grew its position in shares of American Tower by 34.3% in the 2nd quarter. Sivia Capital Partners LLC now owns 1,442 shares of the real estate investment trust’s stock valued at $319,000 after buying an additional 368 shares during the last quarter. United Bank raised its stake in American Tower by 12.7% during the 2nd quarter. United Bank now owns 6,488 shares of the real estate investment trust’s stock worth $1,434,000 after acquiring an additional 733 shares in the last quarter. Treasurer of the State of North Carolina raised its stake in American Tower by 2.2% during the 2nd quarter. Treasurer of the State of North Carolina now owns 218,511 shares of the real estate investment trust’s stock worth $48,295,000 after acquiring an additional 4,778 shares in the last quarter. Finally, Ieq Capital LLC lifted its position in American Tower by 52.2% in the second quarter. Ieq Capital LLC now owns 34,248 shares of the real estate investment trust’s stock valued at $7,570,000 after acquiring an additional 11,751 shares during the last quarter. Hedge funds and other institutional investors own 92.69% of the company’s stock.

American Tower Stock Down 0.1%

Shares of NYSE:AMT opened at $165.84 on Friday. American Tower Corporation has a 1-year low of $162.27 and a 1-year high of $234.33. The company has a debt-to-equity ratio of 3.07, a current ratio of 0.43 and a quick ratio of 0.43. The stock has a market cap of $77.27 billion, a P/E ratio of 26.79, a P/E/G ratio of 0.69 and a beta of 0.91. The firm has a fifty day moving average price of $179.93 and a 200 day moving average price of $179.30.

American Tower (NYSE:AMT) last announced its earnings results on Tuesday, April 28th. The real estate investment trust reported $2.84 EPS 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 business had revenue of $2.74 billion during the quarter, compared to analysts’ expectations of $2.66 billion. During the same period in the prior year, the company earned $2.75 earnings per share. The business’s revenue was up 6.8% compared to the same quarter last year. American Tower has set its FY 2026 guidance at 10.900-11.07 EPS. Sell-side analysts predict that American Tower Corporation will post 10.66 EPS for the current year.

American Tower Dividend Announcement

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

Analysts Set New Price Targets

Several equities analysts have issued reports on AMT shares. Royal Bank Of Canada upgraded shares of American Tower from a “sector perform” rating to an “outperform” rating and upped their price objective for the company from $195.00 to $205.00 in a research note on Friday, June 26th. Citizens Jmp reiterated a “market outperform” rating and set a $260.00 target price on shares of American Tower in a research report on Wednesday, April 29th. Truist Financial boosted their target price on American Tower from $205.00 to $208.00 and gave the company a “buy” rating in a report on Thursday, April 30th. Raymond James Financial reissued a “strong-buy” rating and issued a $240.00 target price on shares of American Tower in a research report on Wednesday, April 29th. Finally, Scotiabank raised their price target on American Tower from $214.00 to $218.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 29th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, American Tower presently has a consensus rating of “Moderate Buy” and an average price target of $216.95.

Insider Activity

In other news, EVP Ruth T. Dowling sold 556 shares of the company’s stock in a transaction that occurred 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 sale, the executive vice president owned 29,877 shares in the company, valued at $5,332,446.96. This represents a 1.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 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.