American Tower Corporation $AMT Shares Sold by Mesirow Financial Investment Management Inc.

Key Points

• Mesirow Financial Investment Management cut its stake in American Tower by 42.3% in the fourth quarter, selling 7,158 shares and leaving it with 9,759 shares valued at about $1.71 million.
• American Tower’s latest earnings beat 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, equal to a 4.2% annualized yield, while Wall Street currently has a consensus rating of Moderate Buy with an average target price of $218.05.

Mesirow Financial Investment Management Inc. cut its position in shares of American Tower Corporation (NYSE:AMT - Free Report) by 42.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,759 shares of the real estate investment trust's stock after selling 7,158 shares during the quarter. Mesirow Financial Investment Management Inc.'s holdings in American Tower were worth $1,713,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Richards Merrill & Peterson Inc. acquired a new stake in American Tower during the 4th quarter worth approximately $25,000. Oakworth Capital Inc. lifted its position in American Tower by 90.7% during the fourth quarter. Oakworth Capital Inc. now owns 143 shares of the real estate investment trust's stock valued at $25,000 after buying an additional 68 shares in the last quarter. Holos Integrated Wealth LLC purchased a new stake in American Tower during the fourth quarter worth approximately $27,000. Triumph Capital Management acquired a new stake in shares of American Tower in the third quarter worth $29,000. Finally, Steph & Co. increased its position in shares of American Tower by 87.2% in the fourth quarter. Steph & Co. now owns 176 shares of the real estate investment trust's stock worth $31,000 after acquiring an additional 82 shares in the last quarter. 92.69% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on AMT shares. BMO Capital Markets lifted their target price on shares of American Tower from $185.00 to $200.00 and gave the company a "market perform" rating in a report on Wednesday, February 25th. Royal Bank Of Canada reiterated a "sector perform" rating and issued a $195.00 price target on shares of American Tower in a report on Thursday, April 30th. Sanford C. Bernstein raised their price objective on American Tower from $205.00 to $207.00 and gave the company a "market perform" rating in a research report on Tuesday, April 28th. TD Cowen reduced their price objective on American Tower from $235.00 to $225.00 in a research note on Wednesday, February 25th. Finally, Jefferies Financial Group increased their target price on American Tower from $209.00 to $210.00 and gave the company a "buy" rating in a research note on Tuesday, April 14th. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $218.05.

American Tower Price Performance

Shares of AMT stock opened at $170.28 on Friday. The firm has a fifty day simple moving average of $178.20 and a 200-day simple moving average of $179.17. The company has a market capitalization of $79.33 billion, a PE ratio of 27.51, a price-to-earnings-growth ratio of 0.73 and a beta of 0.90. American Tower Corporation has a twelve month low of $165.08 and a twelve month high of $234.33. 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 (NYSE:AMT - Get Free Report) last issued its quarterly earnings data on Tuesday, April 28th. The real estate investment trust reported $2.84 EPS for the quarter, topping analysts' consensus estimates of $1.60 by $1.24. The firm had revenue of $2.74 billion for the quarter, compared to analyst estimates of $2.66 billion. American Tower had a net margin of 26.81% and a return on equity of 27.79%. The firm's revenue was up 6.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.75 EPS. 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 fiscal year.

American Tower Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 28th. Investors of record on Tuesday, April 14th were paid a $1.79 dividend. This represents a $7.16 annualized dividend and a dividend yield of 4.2%. This is a positive change from American Tower's previous quarterly dividend of $1.70. The ex-dividend date was Tuesday, April 14th. American Tower's payout ratio is presently 115.67%.

Insider Activity at American Tower

In other American Tower news, Director Rajesh Kalathur bought 2,671 shares of the business's stock in a transaction on Tuesday, March 10th. The shares were bought at an average cost of $185.30 per share, with a total value of $494,936.30. Following the transaction, the director directly owned 4,936 shares in the company, valued at approximately $914,640.80. This trade represents a 117.92% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO Eugene M. Noel sold 41,209 shares of the stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $191.05, for a total value of $7,872,979.45. Following the transaction, the chief operating officer owned 29,592 shares of the company's stock, valued at approximately $5,653,551.60. This trade represents a 58.20% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 42,181 shares of company stock valued at $8,046,071. Insiders own 0.08% of the company's stock.

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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