American Tower Corporation $AMT Shares Sold by Clearstead Trust LLC

Clearstead Trust LLC lowered its position in American Tower Corporation (NYSE:AMT) by 38.8% in the first quarter, HoldingsChannel reports. The institutional investor owned 11,249 shares of the real estate investment trust’s stock after selling 7,140 shares during the period. Clearstead Trust LLC’s holdings in American Tower were worth $1,941,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in AMT. Raleigh Capital Management Inc. lifted its holdings in shares of American Tower by 489.1% in the 1st quarter. Raleigh Capital Management Inc. now owns 13,703 shares of the real estate investment trust’s stock worth $2,365,000 after purchasing an additional 11,377 shares during the last quarter. Canal Capital Management LLC grew its stake in American Tower by 81.9% during the 1st quarter. Canal Capital Management LLC now owns 34,471 shares of the real estate investment trust’s stock worth $5,949,000 after buying an additional 15,520 shares during the last quarter. Bernzott Capital Advisors increased its position in American Tower by 29.3% in the first quarter. Bernzott Capital Advisors now owns 42,161 shares of the real estate investment trust’s stock worth $7,276,000 after buying an additional 9,556 shares during the period. Legal & General Group Plc increased its position in American Tower by 4.7% in the fourth quarter. Legal & General Group Plc now owns 4,873,695 shares of the real estate investment trust’s stock worth $855,675,000 after buying an additional 220,447 shares during the period. Finally, Nordea Investment Management AB lifted its stake in American Tower by 10.4% in the fourth quarter. Nordea Investment Management AB now owns 1,743,321 shares of the real estate investment trust’s stock valued at $306,284,000 after buying an additional 164,645 shares during the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. The Goldman Sachs Group started coverage on shares of American Tower in a research report on Friday, June 26th. They set a “buy” rating and a $215.00 price target for the company. Jefferies Financial Group lifted their price objective on shares of American Tower from $209.00 to $210.00 and gave the company a “buy” rating in a research report on Tuesday, April 14th. Royal Bank Of Canada raised shares of American Tower from a “sector perform” rating to an “outperform” rating and boosted their target price for the company from $195.00 to $205.00 in a research note on Friday, June 26th. Barclays decreased their target price on shares of American Tower from $200.00 to $195.00 and set an “equal weight” rating for the company in a research report on Thursday, April 16th. Finally, Wolfe Research raised American Tower from a “peer perform” rating to an “outperform” rating and set a $188.00 price target on the stock in a report on Wednesday, July 8th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $215.57.

Insider Activity at American Tower

In related news, EVP Ruth T. Dowling sold 416 shares of the stock in a transaction that occurred on Wednesday, April 29th. The shares were 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 of the company’s stock, valued at $5,230,505.94. This represents a 1.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.08% of the stock is owned by insiders.

American Tower Stock Performance

Shares of NYSE AMT opened at $168.87 on Friday. American Tower Corporation has a 1 year low of $160.06 and a 1 year high of $234.33. The firm has a market cap of $78.68 billion, a P/E ratio of 27.28, a PEG ratio of 0.70 and a beta of 0.91. The stock has a fifty day moving average price of $177.77 and a two-hundred day moving average price of $178.76. The company has a debt-to-equity ratio of 3.07, a quick ratio of 0.43 and a current ratio of 0.43.

American Tower (NYSE:AMT) last announced its earnings results on Tuesday, April 28th. The real estate investment trust reported $2.84 earnings per share for the quarter, beating the consensus estimate of $1.60 by $1.24. The business had revenue of $2.74 billion during 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 company’s quarterly revenue was up 6.8% on a year-over-year basis. During the same quarter last year, the business posted $2.75 earnings per share. American Tower has set its FY 2026 guidance at 10.900-11.07 EPS. Research analysts forecast that American Tower Corporation will post 10.66 EPS for the current fiscal year.

American Tower Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, July 13th. Investors of record on Friday, June 12th were issued a $1.79 dividend. This represents a $7.16 dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date was Friday, June 12th. American Tower’s payout ratio is presently 115.67%.

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.