American Tower Corporation $AMT Shares Sold by Pictet Asset Management Holding SA

Key Points

• Pictet Asset Management Holding SA reduced its American Tower stake by 2.6% in the first quarter, selling 10,437 shares and ending with 392,261 shares valued at about $67.7 million.
• American Tower reported strong first-quarter earnings, with EPS of $2.84 beating estimates and revenue of $2.74 billion topping expectations; the company also raised its FY2026 EPS guidance to 10.90–11.07.
• Analysts have turned more bullish on the stock, with several recent upgrades and a consensus rating of Moderate Buy; the average price target is now $216.95, above the stock’s recent trading price around $168.66.

Pictet Asset Management Holding SA cut its position in shares of American Tower Corporation (NYSE:AMT - Free Report) by 2.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 392,261 shares of the real estate investment trust's stock after selling 10,437 shares during the period. Pictet Asset Management Holding SA owned approximately 0.08% of American Tower worth $67,695,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Richards Merrill & Peterson Inc. purchased a new stake in shares of American Tower during the 4th quarter valued at approximately $25,000. Oakworth Capital Inc. grew its position in American Tower by 90.7% in the fourth quarter. Oakworth Capital Inc. now owns 143 shares of the real estate investment trust's stock worth $25,000 after acquiring an additional 68 shares during the period. Swiss RE Ltd. purchased a new position in American Tower in the fourth quarter worth approximately $25,000. Holos Integrated Wealth LLC acquired a new stake in American Tower during the fourth quarter worth $27,000. Finally, Triumph Capital Management purchased a new stake in American Tower in the third quarter valued at $29,000. 92.69% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

AMT has been the subject of a number of recent analyst reports. Sanford C. Bernstein raised American Tower from a "market perform" rating to an "outperform" rating and set a $207.00 price objective for the company in a research report on Tuesday, May 19th. Royal Bank Of Canada raised shares of American Tower from a "sector perform" rating to an "outperform" rating and upped their target price for the company from $195.00 to $205.00 in a research report on Friday. The Goldman Sachs Group began coverage on shares of American Tower in a research note on Friday. They set a "buy" rating and a $215.00 target price for the company. Citizens Jmp reissued a "market outperform" rating and issued a $260.00 price target on shares of American Tower in a research note on Wednesday, April 29th. Finally, Jefferies Financial Group upped their price objective on shares of American Tower from $209.00 to $210.00 and gave the stock a "buy" rating in a report on Tuesday, April 14th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $216.95.

American Tower Stock Performance

Shares of American Tower stock opened at $168.66 on Tuesday. The business has a 50-day moving average of $181.01 and a 200 day moving average of $179.73. American Tower Corporation has a 12 month low of $165.08 and a 12 month high of $234.33. The stock has a market capitalization of $78.58 billion, a price-to-earnings ratio of 27.25, a price-to-earnings-growth ratio of 0.73 and a beta of 0.90. The company has a debt-to-equity ratio of 3.07, a current ratio of 0.43 and a quick ratio of 0.43.

American Tower (NYSE:AMT - Get Free Report) last issued its quarterly earnings results on Tuesday, April 28th. The real estate investment trust reported $2.84 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.60 by $1.24. The company 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 business's revenue for the quarter was up 6.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.75 earnings per share. American Tower has set its FY 2026 guidance at 10.900-11.07 EPS. As a group, sell-side analysts forecast that American Tower Corporation will post 10.66 earnings per share for the current year.

American Tower Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 13th. Investors of record on Friday, June 12th will be paid a dividend of $1.79 per share. This represents a $7.16 annualized dividend and a yield of 4.2%. The ex-dividend date of this dividend is Friday, June 12th. American Tower's dividend payout ratio is presently 115.67%.

Insider Transactions at American Tower

In other American Tower news, EVP Ruth T. Dowling sold 416 shares of the 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 directly owned 29,461 shares in the company, valued at $5,230,505.94. This represents a 1.39% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.08% of the stock is currently owned by company insiders.

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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