ABC Arbitrage SA Has $1.94 Million Stock Position in American Tower Corporation $AMT

Key Points

• ABC Arbitrage SA cut its American Tower stake by 48.2% in the fourth quarter, ending with 11,022 shares valued at about $1.94 million.
• American Tower recently beat earnings expectations, reporting $2.84 EPS versus the $1.60 consensus, and revenue of $2.74 billion, up 6.8% year over year.
• The company raised its quarterly dividend to $1.79 per share from $1.70, for an annualized yield of about 4.0%, while analysts currently rate the stock a Moderate Buy with an average target price of $218.05.

ABC Arbitrage SA trimmed its position in American Tower Corporation (NYSE:AMT - Free Report) by 48.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,022 shares of the real estate investment trust's stock after selling 10,258 shares during the quarter. ABC Arbitrage SA's holdings in American Tower were worth $1,935,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of AMT. Brighton Jones LLC lifted its stake in American Tower by 113.0% during the fourth quarter. Brighton Jones LLC now owns 3,966 shares of the real estate investment trust's stock worth $727,000 after purchasing an additional 2,104 shares during the period. Sivia Capital Partners LLC boosted its stake in American Tower by 34.3% in the 2nd quarter. Sivia Capital Partners LLC now owns 1,442 shares of the real estate investment trust's stock valued at $319,000 after buying an additional 368 shares in the last quarter. United Bank grew its position in American Tower by 12.7% in the second quarter. United Bank now owns 6,488 shares of the real estate investment trust's stock valued at $1,434,000 after acquiring an additional 733 shares during the period. Treasurer of the State of North Carolina raised its stake in American Tower by 2.2% during the second quarter. Treasurer of the State of North Carolina now owns 218,511 shares of the real estate investment trust's stock worth $48,295,000 after acquiring an additional 4,778 shares in the last quarter. Finally, Ieq Capital LLC raised its stake in American Tower by 52.2% during the second quarter. Ieq Capital LLC now owns 34,248 shares of the real estate investment trust's stock worth $7,570,000 after acquiring an additional 11,751 shares in the last quarter. 92.69% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts recently issued reports on AMT shares. Morgan Stanley cut their price target on shares of American Tower from $225.00 to $220.00 and set an "overweight" rating for the company in a report on Wednesday, February 25th. Weiss Ratings lowered shares of American Tower from a "hold (c)" rating to a "hold (c-)" rating in a report on Monday, April 27th. The Goldman Sachs Group cut their target price on shares of American Tower from $230.00 to $210.00 and set a "buy" rating for the company in a research note on Friday, January 16th. Royal Bank Of Canada reissued a "sector perform" rating and issued a $195.00 target price on shares of American Tower in a report on Thursday, April 30th. Finally, UBS Group dropped their price target on American Tower from $254.00 to $248.00 and set a "buy" rating for the company in a report on Wednesday, February 25th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, American Tower currently has an average rating of "Moderate Buy" and an average target price of $218.05.

American Tower Stock Up 0.5%

Shares of AMT opened at $177.44 on Tuesday. The business's fifty day moving average price is $179.18 and its two-hundred day moving average price is $179.52. The firm has a market capitalization of $82.67 billion, a price-to-earnings ratio of 28.67, a PEG ratio of 0.74 and a beta of 0.90. American Tower Corporation has a 52 week low of $165.08 and a 52 week high of $234.33. 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 - Get Free Report) last released its 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. The company had revenue of $2.74 billion during the quarter, compared to the consensus estimate of $2.66 billion. American Tower had a return on equity of 27.79% and a net margin of 26.81%.The firm's quarterly revenue was up 6.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.75 earnings per share. American Tower has set its FY 2026 guidance at 10.900-11.07 EPS. On average, analysts predict that American Tower Corporation will post 10.67 earnings per share for the current year.

American Tower Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 28th. Stockholders of record on Tuesday, April 14th were given a dividend of $1.79 per share. The ex-dividend date was Tuesday, April 14th. This represents a $7.16 annualized dividend and a dividend yield of 4.0%. This is a positive change from American Tower's previous quarterly dividend of $1.70. American Tower's dividend payout ratio is presently 115.67%.

Insider Buying and Selling

In related news, COO Eugene M. Noel sold 41,209 shares of the company's stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $191.05, for a total value of $7,872,979.45. Following the completion of the sale, the chief operating officer owned 29,592 shares in the company, valued at approximately $5,653,551.60. This represents a 58.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Rajesh Kalathur bought 2,671 shares of the business's stock in a transaction on Tuesday, March 10th. The stock was bought at an average cost of $185.30 per share, for a total transaction of $494,936.30. Following the purchase, the director directly owned 4,936 shares of the company's stock, valued at approximately $914,640.80. This trade represents a 117.92% increase in their position. The SEC filing for this purchase provides additional information. Insiders sold a total of 42,181 shares of company stock valued at $8,046,071 over the last ninety days. Insiders own 0.08% of the company's stock.

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.

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