American Tower Corporation $AMT Stock Position Cut by Waterloo Capital L.P.

Key Points

• Waterloo Capital L.P. cut its American Tower stake by 56.9% in the fourth quarter, selling 11,455 shares and ending with 8,679 shares valued at about $1.52 million.
• American Tower posted stronger-than-expected first-quarter results, with EPS of $2.84 versus $1.60 expected and revenue of $2.74 billion, up 6.8% year over year.
• The company declared a quarterly dividend of $1.79 per share to be paid July 13, implying a 3.8% annualized yield, while analysts currently see the stock as a Moderate Buy with a consensus target price of $216.20.

Waterloo Capital L.P. lessened its stake in American Tower Corporation (NYSE:AMT - Free Report) by 56.9% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 8,679 shares of the real estate investment trust's stock after selling 11,455 shares during the period. Waterloo Capital L.P.'s holdings in American Tower were worth $1,524,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Richards Merrill & Peterson Inc. bought a new position in American Tower in the 4th quarter valued at about $25,000. Oakworth Capital Inc. grew its position in American Tower by 90.7% in the 4th 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 bought a new position in American Tower in the 4th quarter valued at about $27,000. Triumph Capital Management bought a new position in American Tower in the 3rd quarter valued at about $29,000. Finally, Lloyd Advisory Services LLC. bought a new position in American Tower in the 4th quarter valued at about $30,000. Institutional investors own 92.69% of the company's stock.

American Tower Price Performance

Shares of NYSE AMT opened at $186.87 on Monday. 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. The company has a market capitalization of $87.06 billion, a price-to-earnings ratio of 30.19, a PEG ratio of 0.78 and a beta of 0.90. The firm has a 50-day moving average of $177.67 and a two-hundred day moving average of $179.36.

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 for the quarter, beating analysts' consensus estimates of $1.60 by $1.24. American Tower had a net margin of 26.81% and a return on equity of 27.79%. The company had revenue of $2.74 billion during the quarter, compared to the consensus estimate of $2.66 billion. During the same period in the prior year, the company earned $2.75 EPS. American Tower's revenue was up 6.8% on a year-over-year basis. American Tower has set its FY 2026 guidance at 10.900-11.07 EPS. As a group, analysts expect that American Tower Corporation will post 10.67 earnings per share for the current fiscal year.

American Tower Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 13th. Shareholders of record on Friday, June 12th will be paid a dividend of $1.79 per share. The ex-dividend date of this dividend is Friday, June 12th. This represents a $7.16 dividend on an annualized basis and a yield of 3.8%. American Tower's dividend payout ratio is currently 115.67%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on AMT. Royal Bank Of Canada reiterated a "sector perform" rating and issued a $195.00 target price on shares of American Tower in a research report on Thursday, April 30th. Scotiabank increased their target price on shares of American Tower from $214.00 to $218.00 and gave the company an "outperform" rating in a research report on Wednesday, April 29th. Weiss Ratings raised shares of American Tower from a "hold (c-)" rating to a "hold (c)" rating in a report on Monday, May 11th. UBS Group cut their price target on shares of American Tower from $254.00 to $248.00 and set a "buy" rating for the company in a report on Wednesday, February 25th. Finally, Morgan Stanley cut their price target on shares of American Tower from $225.00 to $220.00 and set an "overweight" rating for the company in a report on Wednesday, February 25th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, American Tower has a consensus rating of "Moderate Buy" and a consensus target price of $216.20.

Insider Transactions at American Tower

In other news, Director Rajesh Kalathur acquired 2,671 shares of American Tower stock in a transaction on Tuesday, March 10th. The stock was bought at an average cost of $185.30 per share, with a total value of $494,936.30. Following the completion of the purchase, the director owned 4,936 shares of the company's stock, valued at $914,640.80. This represents a 117.92% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Ruth T. Dowling sold 416 shares of the company's stock in a transaction dated 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 of the company's stock, valued at $5,230,505.94. This represents 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. 0.08% of the stock is currently owned by corporate insiders.

American Tower Company Profile

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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