American Tower Corporation $AMT Shares Sold by Pacer Advisors Inc.

Key Points

• Pacer Advisors Inc. trimmed its American Tower stake by 8.6% in the fourth quarter, selling 32,445 shares and leaving it with 344,798 shares valued at about $60.5 million.
• American Tower reported better-than-expected quarterly results, with EPS of $2.84 versus the $1.60 estimate and revenue of $2.74 billion, while also raising its quarterly dividend to $1.79 per share.
• Analysts remain broadly positive on AMT, with a Moderate Buy consensus and an average price target of $218.05, even as several firms have recently adjusted targets and ratings.

Pacer Advisors Inc. reduced its holdings in shares of American Tower Corporation (NYSE:AMT - Free Report) by 8.6% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 344,798 shares of the real estate investment trust's stock after selling 32,445 shares during the quarter. Pacer Advisors Inc. owned approximately 0.07% of American Tower worth $60,536,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of American Tower by 8.9% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 96,793 shares of the real estate investment trust's stock worth $18,615,000 after purchasing an additional 7,872 shares during the last quarter. Eastern Bank grew its holdings in shares of American Tower by 69.6% during the third quarter. Eastern Bank now owns 139,091 shares of the real estate investment trust's stock worth $26,750,000 after purchasing an additional 57,078 shares during the last quarter. Krilogy Financial LLC purchased a new position in shares of American Tower during the third quarter worth about $1,044,000. Machina Capital S.A.S. purchased a new position in shares of American Tower during the third quarter worth about $2,871,000. Finally, Commerzbank Aktiengesellschaft FI grew its holdings in shares of American Tower by 92.4% during the third quarter. Commerzbank Aktiengesellschaft FI now owns 61,397 shares of the real estate investment trust's stock worth $11,808,000 after purchasing an additional 29,486 shares during the last quarter. 92.69% of the stock is owned by institutional investors and hedge funds.

American Tower Stock Performance

NYSE AMT opened at $174.04 on Thursday. 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 firm has a market cap of $81.08 billion, a P/E ratio of 28.12, a P/E/G ratio of 0.75 and a beta of 0.90. American Tower Corporation has a 52-week low of $165.08 and a 52-week high of $234.33. The business's 50-day moving average price is $178.60 and its 200 day moving average price is $179.32.

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 analysts' consensus estimates of $1.60 by $1.24. The firm had revenue of $2.74 billion during the quarter, compared to the consensus estimate 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 last year, the firm earned $2.75 earnings per share. American Tower has set its FY 2026 guidance at 10.900-11.07 EPS. On average, equities research analysts expect that American Tower Corporation will post 10.67 earnings per share for the current year.

American Tower Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 28th. Stockholders of record on Tuesday, April 14th were given a dividend of $1.79 per share. This represents a $7.16 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date was Tuesday, April 14th. This is a positive change from American Tower's previous quarterly dividend of $1.70. American Tower's payout ratio is 115.67%.

Insider Activity

In other news, COO Eugene M. Noel sold 41,209 shares of American Tower stock in a transaction that occurred 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 sale, the chief operating officer directly owned 29,592 shares in the company, valued at approximately $5,653,551.60. This trade represents a 58.20% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Ruth T. Dowling sold 416 shares of American Tower stock in a transaction that occurred on Wednesday, April 29th. The shares were sold at an average price of $177.54, for a total transaction of $73,856.64. Following the sale, the executive vice president owned 29,461 shares of the company's stock, valued at approximately $5,230,505.94. The trade was a 1.39% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 42,181 shares of company stock worth $8,046,071. Company insiders own 0.08% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on AMT. UBS Group dropped their price objective on American Tower from $254.00 to $248.00 and set a "buy" rating on the stock in a report on Wednesday, February 25th. Raymond James Financial reaffirmed a "strong-buy" rating and set a $240.00 price objective on shares of American Tower in a report on Wednesday, April 29th. Mizuho raised American Tower from a "neutral" rating to an "outperform" rating and raised their price objective for the stock from $189.00 to $205.00 in a report on Wednesday, April 15th. TD Cowen lowered their price target on American Tower from $235.00 to $225.00 in a report on Wednesday, February 25th. Finally, The Goldman Sachs Group lowered their price target on American Tower from $230.00 to $210.00 and set a "buy" rating on the stock in a report on Friday, January 16th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $218.05.

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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