American Tower Corporation $AMT Shares Sold by Wendell David Associates Inc.

Key Points

• American Tower reported a strong Q1 beat with EPS of $2.84 vs. $1.59 expected and revenue of $2.74B, and raised FY2026 EPS guidance to 10.900–11.07 on stronger leasing and data‑center demand.
• Wendell David Associates cut its stake in AMT by 46.3%, selling 16,510 shares and leaving 19,123 shares valued at about $3.36M, while institutional investors own roughly 92.69% of the stock.
• Insider activity was mixed: director Rajesh Kalathur bought 2,671 shares at $185.30 while COO Eugene Noel sold 41,209 shares for about $7.87M, and the company raised its quarterly dividend to $1.79 (annualized $7.16, ~4.0% yield) with a payout ratio of 115.67%.

Wendell David Associates Inc. reduced its position in American Tower Corporation (NYSE:AMT - Free Report) by 46.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 19,123 shares of the real estate investment trust's stock after selling 16,510 shares during the quarter. Wendell David Associates Inc.'s holdings in American Tower were worth $3,357,000 at the end of the most recent reporting period.

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

Insiders Place Their Bets

In other news, Director Rajesh Kalathur purchased 2,671 shares of the company's stock in a transaction dated Tuesday, March 10th. The stock was acquired at an average price of $185.30 per share, for a total transaction of $494,936.30. Following the completion of the transaction, the director directly owned 4,936 shares in the company, valued at $914,640.80. This represents a 117.92% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, COO Eugene M. Noel sold 41,209 shares of the firm's stock in a transaction 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 completion of the transaction, the chief operating officer owned 29,592 shares of the company's stock, valued at approximately $5,653,551.60. This represents a 58.20% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 0.08% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Weiss Ratings cut American Tower from a "hold (c)" rating to a "hold (c-)" rating in a research note on Monday. New Street Research upgraded American Tower from a "neutral" rating to a "buy" rating and set a $203.00 price target for the company in a research note on Monday, January 5th. TD Cowen cut their price target on American Tower from $235.00 to $225.00 in a research note on Wednesday, February 25th. The Goldman Sachs Group cut their price target on American Tower from $230.00 to $210.00 and set a "buy" rating for the company in a research note on Friday, January 16th. Finally, Jefferies Financial Group upped their price target on American Tower from $209.00 to $210.00 and gave the stock a "buy" rating in a research note on Tuesday, April 14th. Two analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $217.90.

Trending Headlines about American Tower

Here are the key news stories impacting American Tower this week:

• Positive Sentiment: Q1 results materially beat expectations — AFFO/FFO of $2.84/sh and revenue of $2.74B topped consensus, and management raised full‑year guidance on stronger leasing and cloud/data‑center demand. This is the primary bullish catalyst supporting the stock. Article Title
• Positive Sentiment: Data‑center momentum and product expansion add growth optionality — CoreSite (an AMT business) launched 100Gbps EVCs and management cited robust demand from cloud and AI workloads, reinforcing higher growth expectations for property revenue. Article Title
• Positive Sentiment: Several sell‑side price targets were raised or ratings reaffirmed after the print — Scotiabank raised its target to $218 (sector outperform) and Citizens JMP reaffirmed with a $260 target, signaling continued analyst conviction in long‑term upside. Article TitleRead More.
• Neutral Sentiment: Mixed analyst moves — JPMorgan trimmed its target to $240 but kept an Overweight rating (still implying meaningful upside from current levels); Sanford Bernstein nudged its target to $207 but kept Market Perform. These moves show differing views on upside vs valuation. Article TitleBernstein Note
• Neutral Sentiment: Barclays and other firms offer mixed views — Barclays recently trimmed its price recommendation and reiterated an Equal Weight, reflecting concerns about near‑term growth variability despite attractive dividend yield (~3.9%). Article Title
• Negative Sentiment: Some bearish commentary and perceived headwinds — a Seeking Alpha piece and portions of the call note margin pressures and regional growth challenges; these concerns likely cap near‑term multiple expansion despite the beat. Article Title

American Tower Trading Down 0.1%

NYSE:AMT opened at $178.22 on Thursday. The stock has a fifty day moving average price of $180.08 and a two-hundred day moving average price of $180.03. The stock has a market capitalization of $83.07 billion, a price-to-earnings ratio of 33.06, a PEG ratio of 0.74 and a beta of 0.92. The company has a debt-to-equity ratio of 3.27, a quick ratio of 0.60 and a current ratio of 0.60. American Tower Corporation has a 1 year low of $165.08 and a 1 year high of $234.33.

American Tower (NYSE:AMT - Get Free Report) last released its quarterly earnings data on Tuesday, April 28th. The real estate investment trust reported $2.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.59 by $1.25. The firm had revenue of $2.74 billion during the quarter, compared to analysts' expectations of $2.65 billion. American Tower had a return on equity of 24.36% and a net margin of 23.76%.American Tower's revenue was up 6.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $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 anticipate that American Tower Corporation will post 10.59 earnings per share for the current fiscal year.

American Tower Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 28th. Stockholders of record on Tuesday, April 14th were given a $1.79 dividend. This is an increase from American Tower's previous quarterly dividend of $1.70. This represents a $7.16 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date was Tuesday, April 14th. American Tower's dividend payout ratio (DPR) is 115.67%.

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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