8,679 American Tower Corporation $AMT Shares Sold by McCollum Christoferson Group LLC

Key Points

• McCollum Christoferson Group LLC cut its American Tower stake by 24.8%, selling 8,679 shares and retaining 26,383 shares valued at approximately $4.32 million. Institutional investors collectively own 92.69% of the company.
• American Tower reported quarterly earnings of $2.71 per share, exceeding analysts’ $1.57 estimate, while revenue rose 4.6% year over year to $2.75 billion. The company issued fiscal 2026 EPS guidance of $11.00 to $11.17.
• The REIT declared a quarterly dividend of $1.79 per share, equivalent to $7.16 annually and a 4.0% yield. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $215.48.

McCollum Christoferson Group LLC decreased its holdings in American Tower Corporation (NYSE:AMT - Free Report) by 24.8% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 26,383 shares of the real estate investment trust's stock after selling 8,679 shares during the period. McCollum Christoferson Group LLC's holdings in American Tower were worth $4,319,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Raleigh Capital Management Inc. grew its stake in American Tower by 489.1% in the first quarter. Raleigh Capital Management Inc. now owns 13,703 shares of the real estate investment trust's stock valued at $2,365,000 after purchasing an additional 11,377 shares during the last quarter. Canal Capital Management LLC raised its holdings in American Tower by 81.9% in the first quarter. Canal Capital Management LLC now owns 34,471 shares of the real estate investment trust's stock worth $5,949,000 after purchasing an additional 15,520 shares in the last quarter. Bernzott Capital Advisors lifted its position in shares of American Tower by 29.3% during the first quarter. Bernzott Capital Advisors now owns 42,161 shares of the real estate investment trust's stock valued at $7,276,000 after buying an additional 9,556 shares during the last quarter. BIP Wealth LLC purchased a new stake in shares of American Tower during the second quarter valued at about $1,004,000. Finally, Groupe la Francaise boosted its holdings in shares of American Tower by 319.0% in the 2nd quarter. Groupe la Francaise now owns 33,505 shares of the real estate investment trust's stock valued at $5,481,000 after buying an additional 25,508 shares in the last quarter. 92.69% of the stock is currently owned by institutional investors.

American Tower Stock Performance

Shares of American Tower stock traded down $1.53 during midday trading on Tuesday, hitting $181.03. The company had a trading volume of 1,191,938 shares, compared to its average volume of 3,069,223. The stock has a market cap of $84.35 billion, a price-to-earnings ratio of 24.90, a PEG ratio of 2.93 and a beta of 0.88. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 3.12. The company has a fifty day simple moving average of $172.80 and a 200 day simple moving average of $175.05. American Tower Corporation has a 12-month low of $160.06 and a 12-month high of $196.08.

American Tower (NYSE:AMT - Get Free Report) last released its earnings results on Tuesday, July 28th. The real estate investment trust reported $2.71 EPS for the quarter, topping analysts' consensus estimates of $1.57 by $1.14. The company had revenue of $2.75 billion during the quarter, compared to analysts' expectations of $2.70 billion. American Tower had a net margin of 31.08% and a return on equity of 32.76%. American Tower's revenue for the quarter was up 4.6% on a year-over-year basis. During the same period last year, the business earned $2.60 EPS. American Tower has set its FY 2026 guidance at 11.000-11.170 EPS. As a group, analysts predict that American Tower Corporation will post 10.80 earnings per share for the current fiscal year.

American Tower Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 20th. Stockholders of record on Wednesday, September 30th will be paid a dividend of $1.79 per share. This represents a $7.16 annualized dividend and a dividend yield of 4.0%. The ex-dividend date is Wednesday, September 30th. American Tower's payout ratio is presently 98.49%.

Insider Transactions at American Tower

In related news, Director Rajesh Kalathur acquired 2,829 shares of the company's stock in a transaction dated Friday, August 21st. The shares were purchased at an average cost of $177.00 per share, with a total value of $500,733.00. Following the completion of the acquisition, the director directly owned 7,765 shares of the company's stock, valued at $1,374,405. This represents a 57.31% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Ruth Dowling sold 1,106 shares of the company's 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 directly owned 27,711 shares in the company, valued at approximately $4,848,316.56. The trade was a 3.84% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 6,791 shares of company stock worth $1,204,091. Company insiders own 0.08% of the company's stock.

Analyst Upgrades and Downgrades

AMT has been the subject of several recent analyst reports. Mizuho set a $208.00 price objective on shares of American Tower in a research note on Thursday, August 20th. Barclays raised their target price on shares of American Tower from $198.00 to $199.00 and gave the company an "overweight" rating in a research note on Wednesday, September 30th. Weiss Ratings lowered shares of American Tower from a "hold (c)" rating to a "hold (c-)" rating in a report on Thursday. Truist Financial reaffirmed a "buy" rating and set a $207.00 price target (down from $208.00) on shares of American Tower in a research report on Wednesday, August 12th. Finally, Jefferies Financial Group decreased their price objective on American Tower from $210.00 to $201.00 and set a "buy" rating for the company in a report on Wednesday, July 15th. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, American Tower currently has a consensus rating of "Moderate Buy" and an average target price of $215.48.

American Tower Company Profile

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.

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