Akre Capital Management LLC Cuts Position in American Tower Corporation $AMT

Akre Capital Management LLC lessened its holdings in American Tower Corporation (NYSE:AMT - Free Report) by 42.4% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 255,267 shares of the real estate investment trust's stock after selling 187,576 shares during the quarter. American Tower comprises 0.5% of Akre Capital Management LLC's portfolio, making the stock its 13th largest position. Akre Capital Management LLC owned approximately 0.05% of American Tower worth $44,817,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of AMT. Brighton Jones LLC lifted its position 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 valued at $727,000 after purchasing an additional 2,104 shares during the period. Sivia Capital Partners LLC lifted its position in American Tower by 34.3% during the second quarter. Sivia Capital Partners LLC now owns 1,442 shares of the real estate investment trust's stock valued at $319,000 after purchasing an additional 368 shares during the period. United Bank lifted its position in American Tower by 12.7% during the second quarter. United Bank now owns 6,488 shares of the real estate investment trust's stock valued at $1,434,000 after purchasing an additional 733 shares during the period. Treasurer of the State of North Carolina lifted its position 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 valued at $48,295,000 after purchasing an additional 4,778 shares during the period. Finally, Ieq Capital LLC lifted its position 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 valued at $7,570,000 after purchasing an additional 11,751 shares during the period. Hedge funds and other institutional investors own 92.69% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on AMT shares. Raymond James Financial restated a "strong-buy" rating and set a $240.00 price objective on shares of American Tower in a research report on Wednesday, April 29th. JPMorgan Chase & Co. lowered their price objective 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. Morgan Stanley lowered their price objective on shares of American Tower from $225.00 to $220.00 and set an "overweight" rating on the stock in a research report on Wednesday, February 25th. Barclays lowered their price objective on shares of 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. Finally, Scotiabank increased their price objective on shares of American Tower from $214.00 to $218.00 and gave the company an "outperform" rating in a research report on Wednesday, April 29th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and five have given a Hold rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $216.20.

Insiders Place Their Bets

In other news, EVP Ruth T. Dowling sold 556 shares of the firm's stock in a transaction on Tuesday, April 28th. The shares were sold at an average price of $178.48, for a total transaction of $99,234.88. Following the sale, the executive vice president directly owned 29,877 shares in the company, valued at $5,332,446.96. This trade represents a 1.83% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.08% of the company's stock.

American Tower Stock Down 1.1%

AMT opened at $187.20 on Friday. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 3.07. American Tower Corporation has a 1-year low of $165.08 and a 1-year high of $234.33. The company has a market capitalization of $87.22 billion, a PE ratio of 30.24, a PEG ratio of 0.78 and a beta of 0.90. The firm's 50 day simple moving average is $181.01 and its two-hundred day simple moving average is $179.92.

American Tower (NYSE:AMT - Get Free Report) last released its quarterly earnings results on Tuesday, April 28th. The real estate investment trust reported $2.84 earnings per share for the quarter, topping the consensus estimate 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 the consensus estimate of $2.66 billion. During the same period last year, the firm earned $2.75 earnings per share. The company's quarterly revenue 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, equities analysts forecast that American Tower Corporation will post 10.67 EPS for the current year.

American Tower Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 13th. Shareholders of record on Friday, June 12th will be given a $1.79 dividend. The ex-dividend date is Friday, June 12th. This represents a $7.16 annualized dividend and a yield of 3.8%. American Tower's dividend payout ratio (DPR) is presently 115.67%.

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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