QRG Capital Management Inc. Has $1.24 Million Stake in American Tower Corporation $AMT

QRG Capital Management Inc. trimmed its holdings in American Tower Corporation (NYSE:AMT) by 67.8% during the first quarter, Holdings Channel reports. The institutional investor owned 7,199 shares of the real estate investment trust’s stock after selling 15,174 shares during the quarter. QRG Capital Management Inc.’s holdings in American Tower were worth $1,242,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of AMT. J. Stern & Co. LLP boosted its holdings in American Tower by 28,121.1% during the 4th quarter. J. Stern & Co. LLP now owns 37,686,978 shares of the real estate investment trust’s stock worth $6,616,703,000 after acquiring an additional 37,553,436 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its stake in shares of American Tower by 20,721.6% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 9,712,672 shares of the real estate investment trust’s stock worth $1,705,254,000 after acquiring an additional 9,666,025 shares during the period. Norges Bank purchased a new stake in shares of American Tower during the 4th quarter valued at approximately $1,171,180,000. Lazard Asset Management LLC lifted its position in shares of American Tower by 1,984.8% during 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 acquiring an additional 4,250,242 shares in the last quarter. Finally, Capital International Investors boosted its stake in American Tower by 157.0% in the 4th quarter. Capital International Investors now owns 3,871,368 shares of the real estate investment trust’s stock worth $679,696,000 after purchasing an additional 2,364,898 shares during the period. Institutional investors own 92.69% of the company’s stock.

Insider Activity at American Tower

In other news, EVP Ruth T. Dowling sold 416 shares of American Tower stock in a transaction that occurred on Wednesday, April 29th. The shares were sold at an average price of $177.54, for a total value of $73,856.64. Following the completion of the sale, the executive vice president directly owned 29,461 shares in the company, valued at $5,230,505.94. The trade was a 1.39% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.08% of the stock is owned by corporate insiders.

American Tower Trading Up 1.8%

NYSE AMT opened at $165.11 on Wednesday. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 3.07. The stock has a market cap of $76.92 billion, a P/E ratio of 26.67, a P/E/G ratio of 0.68 and a beta of 0.91. American Tower Corporation has a 12 month low of $160.06 and a 12 month high of $234.33. The stock’s fifty day moving average price is $179.33 and its 200-day moving average price is $179.08.

American Tower (NYSE:AMT) last posted its quarterly 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. The firm had revenue of $2.74 billion for the quarter, compared to analysts’ expectations of $2.66 billion. American Tower had a net margin of 26.81% and a return on equity of 27.79%. The business’s revenue for the quarter was up 6.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.75 earnings per share. American Tower has set its FY 2026 guidance at 10.900-11.07 EPS. As a group, equities analysts forecast that American Tower Corporation will post 10.66 EPS for the current fiscal year.

American Tower Dividend Announcement

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

Analysts Set New Price Targets

AMT has been the subject of a number of recent analyst reports. Sanford C. Bernstein upgraded shares of American Tower from a “market perform” rating to an “outperform” rating and set a $207.00 price target for the company in a research report on Tuesday, May 19th. Scotiabank upped their price objective on shares of American Tower from $214.00 to $218.00 and gave the company an “outperform” rating in a research note on Wednesday, April 29th. Barclays reduced their price target on American Tower from $200.00 to $195.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 16th. Raymond James Financial restated a “strong-buy” rating and issued a $240.00 price objective on shares of American Tower in a research report on Wednesday, April 29th. Finally, Royal Bank Of Canada upgraded American Tower from a “sector perform” rating to an “outperform” rating and upped their target price for the company from $195.00 to $205.00 in a report on Friday, June 26th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $216.95.

American Tower 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.