Alpha Cubed Investments LLC Cuts Stock Position in American Tower Corporation $AMT

Key Points

• Alpha Cubed cut its position by 76.7% in Q4, selling 182,284 AMT shares and leaving 55,307 shares worth about $9.71 million.
• Strong quarterly beat: AMT reported $2.84 EPS vs. $1.60 expected and $2.74B revenue vs. $2.66B, set FY2026 guidance of $10.90–$11.07, and carries a consensus "Moderate Buy" with a $218.05 target.
• Dividend raised to $1.79 quarterly (annualized $7.16, ~4.0% yield), but the dividend payout ratio is high at 115.67%, which could raise sustainability questions.

Alpha Cubed Investments LLC lowered its position in American Tower Corporation (NYSE:AMT - Free Report) by 76.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 55,307 shares of the real estate investment trust's stock after selling 182,284 shares during the period. Alpha Cubed Investments LLC's holdings in American Tower were worth $9,710,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of AMT. Vanguard Group Inc. boosted its stake in American Tower by 1.0% in the 3rd quarter. Vanguard Group Inc. now owns 63,640,168 shares of the real estate investment trust's stock worth $12,239,277,000 after purchasing an additional 611,801 shares in the last quarter. Invesco Ltd. boosted its stake in American Tower by 3.1% in the 3rd quarter. Invesco Ltd. now owns 6,888,633 shares of the real estate investment trust's stock worth $1,324,822,000 after purchasing an additional 208,109 shares in the last quarter. Principal Financial Group Inc. boosted its stake in American Tower by 1.0% in the 4th quarter. Principal Financial Group Inc. now owns 6,038,061 shares of the real estate investment trust's stock worth $1,060,103,000 after purchasing an additional 57,545 shares in the last quarter. Capital Research Global Investors boosted its stake in American Tower by 0.3% in the 3rd quarter. Capital Research Global Investors now owns 4,924,771 shares of the real estate investment trust's stock worth $947,132,000 after purchasing an additional 15,145 shares in the last quarter. Finally, Legal & General Group Plc boosted its stake in American Tower by 3.5% in the 3rd quarter. Legal & General Group Plc now owns 4,653,248 shares of the real estate investment trust's stock worth $894,913,000 after purchasing an additional 159,223 shares in the last quarter. Hedge funds and other institutional investors own 92.69% of the company's stock.

Analyst Ratings Changes

AMT has been the subject of a number of recent analyst reports. Weiss Ratings cut shares of American Tower from a "hold (c)" rating to a "hold (c-)" rating in a research note on Monday, April 27th. Jefferies Financial Group lifted their price objective on shares of American Tower from $209.00 to $210.00 and gave the company a "buy" rating in a research note on Tuesday, April 14th. BMO Capital Markets lifted their price objective on shares of American Tower from $185.00 to $200.00 and gave the company a "market perform" rating in a research note on Wednesday, February 25th. JPMorgan Chase & Co. decreased their price objective on shares of American Tower from $245.00 to $240.00 and set an "overweight" rating for the company in a research note on Wednesday, April 29th. Finally, Mizuho upgraded shares of American Tower from a "neutral" rating to an "outperform" rating and lifted their price objective for the company from $189.00 to $205.00 in a research note on Wednesday, April 15th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $218.05.

American Tower Stock Performance

AMT opened at $178.17 on Wednesday. The company has a debt-to-equity ratio of 3.07, a current ratio of 0.43 and a quick ratio of 0.43. The firm has a fifty day moving average price of $179.86 and a 200 day moving average price of $179.90. American Tower Corporation has a 1 year low of $165.08 and a 1 year high of $234.33. The stock has a market cap of $83.04 billion, a P/E ratio of 28.78, a P/E/G ratio of 0.76 and a beta of 0.90.

American Tower (NYSE:AMT - Get Free Report) last posted its earnings results on Tuesday, April 28th. The real estate investment trust reported $2.84 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $2.74 billion during the quarter, compared to analysts' expectations of $2.66 billion. During the same period in the previous year, the business posted $2.75 EPS. The business's revenue was up 6.8% compared to the same quarter last year. American Tower has set its FY 2026 guidance at 10.900-11.07 EPS. Equities research analysts anticipate that American Tower Corporation will post 10.67 earnings per share for the current year.

American Tower Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 28th. Investors of record on Tuesday, April 14th were paid a $1.79 dividend. The ex-dividend date was Tuesday, April 14th. This represents a $7.16 annualized dividend and a dividend yield of 4.0%. This is an increase from American Tower's previous quarterly dividend of $1.70. American Tower's dividend payout ratio (DPR) is presently 115.67%.

Insider Activity at American Tower

In related news, EVP Ruth T. Dowling sold 556 shares of the business's stock in a transaction on Tuesday, April 28th. The shares were sold at an average price of $178.48, for a total value of $99,234.88. Following the completion of the sale, the executive vice president owned 29,877 shares of the company's stock, valued at approximately $5,332,446.96. The trade was a 1.83% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Rajesh Kalathur purchased 2,671 shares of the business's stock in a transaction that occurred on Tuesday, March 10th. The stock was bought at an average cost of $185.30 per share, with a total value of $494,936.30. Following the acquisition, the director owned 4,936 shares in the company, valued at $914,640.80. This 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 worth $8,046,071 in the last three months. Company insiders own 0.08% of the company's stock.

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.

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