American Tower Corporation $AMT Shares Sold by Baillie Gifford & Co.

Key Points

• Baillie Gifford & Co. trimmed its stake in American Tower by 13.9% in Q4, selling 9,087 shares and leaving it with 56,181 shares valued at about $9.86 million.
• Insider activity was mixed: director Rajesh Kalathur bought 2,671 shares at $185.30, while COO Eugene M. Noel sold 41,209 shares at $191.05, reducing his holding by 58.2%.
• American Tower raised its quarterly dividend to $1.79 (annualized $7.16) for a yield of 4.0%, with an ex-dividend date of April 14 and payment on April 28.

Baillie Gifford & Co. lowered its stake in shares of American Tower Corporation (NYSE:AMT - Free Report) by 13.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 56,181 shares of the real estate investment trust's stock after selling 9,087 shares during the quarter. Baillie Gifford & Co.'s holdings in American Tower were worth $9,864,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its holdings in American Tower by 1.0% during the third 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. raised its holdings in American Tower by 3.1% during the third 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. Capital Research Global Investors raised its holdings in American Tower by 0.3% during the third 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. Legal & General Group Plc raised its holdings in American Tower by 3.5% during the third 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. Finally, Lazard Asset Management LLC raised its holdings in American Tower by 1,984.8% during the third quarter. Lazard Asset Management LLC now owns 4,464,382 shares of the real estate investment trust's stock worth $858,552,000 after purchasing an additional 4,250,242 shares in the last quarter. Institutional investors and hedge funds own 92.69% of the company's stock.

Insiders Place Their Bets

In other news, Director Rajesh Kalathur acquired 2,671 shares of the stock in a transaction that occurred on Tuesday, March 10th. The shares were purchased at an average cost of $185.30 per share, for a total transaction of $494,936.30. Following the transaction, the director directly owned 4,936 shares in the company, valued at approximately $914,640.80. This represents a 117.92% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Eugene M. Noel sold 41,209 shares of American Tower stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $191.05, for a total transaction of $7,872,979.45. Following the completion of the transaction, the chief operating officer owned 29,592 shares in the company, valued at approximately $5,653,551.60. This trade represents a 58.20% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 0.18% of the company's stock.

American Tower Stock Performance

Shares of AMT opened at $181.06 on Tuesday. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 3.27. The firm has a market cap of $84.39 billion, a PE ratio of 33.59, a price-to-earnings-growth ratio of 0.75 and a beta of 0.92. The company's 50 day simple moving average is $180.92 and its 200-day simple moving average is $180.94. American Tower Corporation has a 12-month low of $165.08 and a 12-month high of $234.33.

American Tower (NYSE:AMT - Get Free Report) last posted its quarterly earnings data on Tuesday, February 24th. The real estate investment trust reported $1.75 earnings per share for the quarter, missing analysts' consensus estimates of $2.54 by ($0.79). American Tower had a net margin of 23.76% and a return on equity of 24.36%. The firm had revenue of $2.74 billion during the quarter, compared to analysts' expectations of $2.69 billion. During the same quarter last year, the business earned $2.62 earnings per share. The business's quarterly revenue was up 7.5% on a year-over-year basis. American Tower has set its FY 2026 guidance at 10.780-10.950 EPS. As a group, equities analysts predict that American Tower Corporation will post 10.14 EPS for the current year.

American Tower Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 28th. Investors of record on Tuesday, April 14th will be given a $1.79 dividend. This is a positive change from American Tower's previous quarterly dividend of $1.70. The ex-dividend date is Tuesday, April 14th. This represents a $7.16 dividend on an annualized basis and a yield of 4.0%. American Tower's payout ratio is 126.16%.

Wall Street Analysts Forecast Growth

AMT has been the topic of a number of research reports. Jefferies Financial Group raised their target price on shares of American Tower from $200.00 to $209.00 and gave the stock a "buy" rating in a research report on Thursday, February 26th. UBS Group lowered their target price on shares of American Tower from $254.00 to $248.00 and set a "buy" rating on the stock in a research report on Wednesday, February 25th. Truist Financial initiated coverage on shares of American Tower in a research report on Tuesday, March 31st. They set a "buy" rating and a $205.00 target price on the stock. Scotiabank lowered their target price on shares of American Tower from $220.00 to $214.00 and set a "sector outperform" rating on the stock in a research report on Wednesday, February 25th. Finally, BMO Capital Markets raised their target price on shares of American Tower from $185.00 to $200.00 and gave the stock a "market perform" rating in a research report on Wednesday, February 25th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $216.76.

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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