American Tower Corporation $AMT Shares Sold by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA decreased its position in American Tower Corporation (NYSE:AMT) by 2.6% during the 1st quarter, Holdings Channel reports. The fund owned 392,261 shares of the real estate investment trust’s stock after selling 10,437 shares during the quarter. Pictet Asset Management Holding SA’s holdings in American Tower were worth $67,695,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in AMT. Riverwater Partners LLC increased its position in shares of American Tower by 3.8% in the 4th quarter. Riverwater Partners LLC now owns 1,536 shares of the real estate investment trust’s stock valued at $270,000 after purchasing an additional 56 shares during the last quarter. Triumph Capital Management grew its stake in shares of American Tower by 37.3% during the fourth quarter. Triumph Capital Management now owns 206 shares of the real estate investment trust’s stock worth $36,000 after purchasing an additional 56 shares in the last quarter. Personal CFO Solutions LLC increased its holdings in American Tower by 3.5% in the fourth quarter. Personal CFO Solutions LLC now owns 1,667 shares of the real estate investment trust’s stock valued at $293,000 after buying an additional 57 shares during the last quarter. Twin City Private Wealth LLC raised its stake in American Tower by 0.7% in the fourth quarter. Twin City Private Wealth LLC now owns 7,799 shares of the real estate investment trust’s stock valued at $1,382,000 after buying an additional 58 shares in the last quarter. Finally, Asset Advisory Group Inc. raised its stake in American Tower by 3.0% in the first quarter. Asset Advisory Group Inc. now owns 2,072 shares of the real estate investment trust’s stock valued at $358,000 after buying an additional 60 shares in the last quarter. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently commented on AMT shares. Royal Bank Of Canada raised shares of American Tower from a “sector perform” rating to an “outperform” rating and increased their target price for the company from $195.00 to $205.00 in a research report on Friday. Jefferies Financial Group lifted their target price on American Tower from $209.00 to $210.00 and gave the stock a “buy” rating in a research report on Tuesday, April 14th. 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. The Goldman Sachs Group started coverage on American Tower in a research note on Friday. They issued a “buy” rating and a $215.00 price objective for the company. Finally, JPMorgan Chase & Co. lowered their target price on shares of American Tower from $245.00 to $240.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 29th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, American Tower currently has a consensus rating of “Moderate Buy” and an average target price of $216.95.

American Tower Price Performance

American Tower stock opened at $168.66 on Tuesday. The company has a market cap of $78.58 billion, a P/E ratio of 27.25, a price-to-earnings-growth ratio of 0.73 and a beta of 0.90. American Tower Corporation has a one year low of $165.08 and a one year high of $234.33. The business has a fifty day moving average of $181.01 and a two-hundred day moving average of $179.73. 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 posted its quarterly earnings results on Tuesday, April 28th. The real estate investment trust reported $2.84 earnings per share for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $2.66 billion. During the same period in the prior year, the company posted $2.75 EPS. The business’s revenue for the quarter was up 6.8% on a year-over-year basis. American Tower has set its FY 2026 guidance at 10.900-11.07 EPS. As a group, analysts predict that American Tower Corporation will post 10.66 earnings per share for the current fiscal year.

American Tower Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, July 13th. Stockholders of record on Friday, June 12th will be paid a dividend of $1.79 per share. The ex-dividend date of this dividend is Friday, June 12th. This represents a $7.16 annualized dividend and a dividend yield of 4.2%. American Tower’s payout ratio is 115.67%.

Insider Buying and Selling at American Tower

In related news, EVP Ruth T. Dowling sold 416 shares of the firm’s stock in a transaction that occurred on Wednesday, April 29th. The stock was sold at an average price of $177.54, for a total value of $73,856.64. Following the completion of the transaction, the executive vice president directly owned 29,461 shares of the company’s stock, valued at $5,230,505.94. This trade represents a 1.39% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.08% of the stock is currently owned by corporate insiders.

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.