American Tower Corporation $AMT is Cohen & Steers Inc.'s 5th Largest Position

Key Points

• Cohen & Steers Inc. cut its American Tower stake by 7.5% in the fourth quarter, but the REIT still remains its 5th-largest holding, making up about 4.0% of the portfolio.
• American Tower reported strong quarterly results, with EPS of $2.84 beating estimates by $1.24 and revenue of $2.74 billion topping forecasts; revenue rose 6.8% year over year.
• The company also announced a quarterly dividend of $1.79 per share, equal to an annualized yield of 3.8%, while analysts currently rate the stock a Moderate Buy with an average target price of $216.20.

Cohen & Steers Inc. trimmed its position in shares of American Tower Corporation (NYSE:AMT - Free Report) by 7.5% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 12,487,087 shares of the real estate investment trust's stock after selling 1,014,285 shares during the quarter. American Tower comprises about 4.0% of Cohen & Steers Inc.'s investment portfolio, making the stock its 5th largest holding. Cohen & Steers Inc. owned approximately 2.67% of American Tower worth $2,192,460,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Wealthspire Advisors LLC lifted its position in shares of American Tower by 98.0% during the fourth quarter. Wealthspire Advisors LLC now owns 4,329 shares of the real estate investment trust's stock valued at $760,000 after buying an additional 2,143 shares during the last quarter. Gerber Kawasaki Wealth & Investment Management lifted its position in shares of American Tower by 28.1% during the fourth quarter. Gerber Kawasaki Wealth & Investment Management now owns 1,532 shares of the real estate investment trust's stock valued at $269,000 after buying an additional 336 shares during the last quarter. Quadrant Capital Group LLC lifted its position in shares of American Tower by 84.6% during the fourth quarter. Quadrant Capital Group LLC now owns 15,187 shares of the real estate investment trust's stock valued at $2,667,000 after buying an additional 6,958 shares during the last quarter. Douglass Winthrop Advisors LLC lifted its position in shares of American Tower by 9.7% during the fourth quarter. Douglass Winthrop Advisors LLC now owns 508,885 shares of the real estate investment trust's stock valued at $89,345,000 after buying an additional 45,182 shares during the last quarter. Finally, Laurel Oak Wealth Management LLC purchased a new stake in shares of American Tower during the fourth quarter valued at about $406,000. 92.69% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at American Tower

In other American Tower news, EVP Ruth T. Dowling sold 556 shares of the firm's stock in a transaction that occurred 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 completion of the transaction, the executive vice president directly owned 29,877 shares of the company's stock, valued at approximately $5,332,446.96. This trade represents a 1.83% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.08% of the company's stock.

American Tower Stock Performance

Shares of American Tower stock opened at $187.20 on Friday. The firm has a market capitalization of $87.22 billion, a P/E ratio of 30.24, a PEG ratio of 0.79 and a beta of 0.90. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 3.07. The company has a 50 day moving average price of $181.01 and a 200 day moving average price of $179.92. American Tower Corporation has a 52 week low of $165.08 and a 52 week high of $234.33.

American Tower (NYSE:AMT - Get Free Report) last announced its quarterly earnings data on Tuesday, April 28th. The real estate investment trust reported $2.84 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 analyst estimates of $2.66 billion. During the same period last year, the firm posted $2.75 EPS. American Tower's 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. Sell-side analysts expect that American Tower Corporation will post 10.67 EPS for the current year.

American Tower Dividend Announcement

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 dividend of $1.79 per share. The ex-dividend date of this dividend is Friday, June 12th. This represents a $7.16 dividend on an annualized basis and a yield of 3.8%. American Tower's dividend payout ratio (DPR) is currently 115.67%.

Analyst Ratings Changes

AMT has been the subject of several analyst reports. JPMorgan Chase & Co. decreased their price target on shares of American Tower from $245.00 to $240.00 and set an "overweight" rating for the company in a research report on Wednesday, April 29th. Sanford C. Bernstein raised 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. Mizuho raised shares of American Tower from a "neutral" rating to an "outperform" rating and increased their price target for the company from $189.00 to $205.00 in a research report on Wednesday, April 15th. Citizens Jmp reaffirmed a "market outperform" rating and issued a $260.00 price objective on shares of American Tower in a research report on Wednesday, April 29th. Finally, Weiss Ratings raised shares of American Tower from a "hold (c-)" rating to a "hold (c)" rating in a research report on Monday, May 11th. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $216.20.

About American Tower

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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