Douglas Lane & Associates LLC Reduces Stock Position in American Tower Corporation $AMT

Douglas Lane & Associates LLC lowered its position in shares of American Tower Corporation (NYSE:AMT) by 1.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 412,362 shares of the real estate investment trust’s stock after selling 6,179 shares during the period. Douglas Lane & Associates LLC owned about 0.09% of American Tower worth $67,500,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Operose Advisors LLC purchased a new position in American Tower during the 2nd quarter valued at about $25,000. Allied Private Wealth LLC bought a new position in shares of American Tower during the second quarter valued at approximately $29,000. Mowery & Schoenfeld Wealth Management LLC purchased a new position in American Tower during the second quarter valued at approximately $33,000. Cache Advisors LLC purchased a new stake in American Tower during the first quarter worth $38,000. Finally, Bayban bought a new position in shares of American Tower in the 4th quarter worth $39,000. 92.69% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have commented on AMT. Scotiabank reissued an “outperform” rating on shares of American Tower in a research report on Wednesday, July 29th. Wolfe Research upgraded shares of American Tower from a “peer perform” rating to an “outperform” rating and set a $188.00 price objective for the company in a research note on Wednesday, July 8th. Royal Bank Of Canada raised shares of American Tower from a “sector perform” rating to an “outperform” rating and increased their price target for the stock from $195.00 to $205.00 in a report on Friday, June 26th. BMO Capital Markets lifted their price target on shares of American Tower from $190.00 to $195.00 and gave the company a “market perform” rating in a research note on Wednesday, July 29th. Finally, Truist Financial restated a “buy” rating and issued a $207.00 target price (down from $208.00) on shares of American Tower in a research report on Wednesday, August 12th. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $215.48.

Insider Transactions at American Tower

In related news, Director Rajesh Kalathur acquired 2,829 shares of American Tower stock in a transaction dated Friday, August 21st. The shares were acquired at an average cost of $177.00 per share, for a total transaction of $500,733.00. Following the completion of the purchase, the director owned 7,765 shares in the company, valued at approximately $1,374,405. The trade was a 57.31% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Ruth Dowling sold 1,106 shares of American Tower stock in a transaction on 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 transaction, the executive vice president owned 27,711 shares of the company’s stock, valued at approximately $4,848,316.56. This trade represents a 3.84% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 6,791 shares of company stock valued at $1,204,091. 0.08% of the stock is currently owned by company insiders.

American Tower Trading Up 7.6%

Shares of AMT traded up $12.64 during midday trading on Friday, hitting $179.37. 4,734,424 shares of the stock were exchanged, compared to its average volume of 3,056,468. The stock has a fifty day simple moving average of $172.45 and a 200 day simple moving average of $174.92. American Tower Corporation has a 52-week low of $160.06 and a 52-week high of $196.08. The firm has a market cap of $83.58 billion, a P/E ratio of 24.69, a P/E/G ratio of 2.67 and a beta of 0.88. The company has a debt-to-equity ratio of 3.12, a quick ratio of 0.52 and a current ratio of 0.52.

American Tower (NYSE:AMT) last released its earnings results on Tuesday, July 28th. The real estate investment trust reported $2.71 earnings per share 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%.American Tower’s revenue was up 4.6% compared to the same quarter last year. During the same period in the previous year, the company posted $2.60 EPS. American Tower has set its FY 2026 guidance at 11.000-11.170 EPS. On average, research analysts anticipate that American Tower Corporation will post 10.8 EPS for the current fiscal year.

American Tower Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 20th. Shareholders of record on Wednesday, September 30th will be given a $1.79 dividend. This represents a $7.16 annualized dividend and a yield of 4.0%. The ex-dividend date of this dividend is Wednesday, September 30th. American Tower’s dividend payout ratio (DPR) is currently 98.49%.

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.