Atria Investments Inc Sells 7,162 Shares of American Tower Corporation $AMT

Key Points

• Atria Investments Inc. cut its American Tower stake by 22.4% in the fourth quarter, selling 7,162 shares and leaving it with 24,833 shares valued at about $4.36 million.
• American Tower reported strong quarterly results, with EPS of $2.84 versus $1.60 expected and revenue of $2.74 billion, while also raising its quarterly dividend to $1.79 per share.
• Wall Street remains mostly positive on the stock, with an average Moderate Buy rating and average target price of $218.05, even as the shares traded around $170.74 and sit below the recent analyst targets.

Atria Investments Inc reduced its holdings in American Tower Corporation (NYSE:AMT - Free Report) by 22.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 24,833 shares of the real estate investment trust's stock after selling 7,162 shares during the quarter. Atria Investments Inc's holdings in American Tower were worth $4,360,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. Navalign LLC increased its holdings in American Tower by 11.5% in the fourth quarter. Navalign LLC now owns 5,292 shares of the real estate investment trust's stock worth $929,000 after purchasing an additional 546 shares in the last quarter. Catalyst Financial Partners LLC increased its holdings in American Tower by 5.5% in the fourth quarter. Catalyst Financial Partners LLC now owns 1,914 shares of the real estate investment trust's stock worth $336,000 after purchasing an additional 99 shares in the last quarter. Independent Advisor Alliance increased its holdings in American Tower by 184.1% in the fourth quarter. Independent Advisor Alliance now owns 15,106 shares of the real estate investment trust's stock worth $2,652,000 after purchasing an additional 9,788 shares in the last quarter. World Investment Advisors increased its holdings in American Tower by 14.6% in the fourth quarter. World Investment Advisors now owns 4,327 shares of the real estate investment trust's stock worth $760,000 after purchasing an additional 552 shares in the last quarter. Finally, Seelaus Asset Management LLC increased its holdings in American Tower by 62.3% in the fourth quarter. Seelaus Asset Management LLC now owns 2,344 shares of the real estate investment trust's stock worth $412,000 after purchasing an additional 900 shares in the last quarter. 92.69% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on AMT shares. Scotiabank lifted their target price on American Tower from $214.00 to $218.00 and gave the stock an "outperform" rating in a report on Wednesday, April 29th. UBS Group decreased their price objective on American Tower from $254.00 to $248.00 and set a "buy" rating for the company in a report on Wednesday, February 25th. Raymond James Financial restated a "strong-buy" rating and set a $240.00 price objective on shares of American Tower in a report on Wednesday, April 29th. Citizens Jmp restated a "market outperform" rating and set a $260.00 price objective on shares of American Tower in a report on Wednesday, April 29th. Finally, TD Cowen decreased their price objective on American Tower from $235.00 to $225.00 in a report on Wednesday, February 25th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and six have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $218.05.

American Tower Trading Up 0.1%

NYSE AMT opened at $170.74 on Friday. The company has a market cap of $79.54 billion, a price-to-earnings ratio of 27.58, a P/E/G ratio of 0.71 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 has a 50 day moving average price of $177.80 and a 200-day moving average price of $179.11. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 3.07.

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 EPS for the quarter, beating the consensus estimate 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 return on equity of 27.79% and a net margin of 26.81%.The company's quarterly revenue was up 6.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.75 earnings per share. American Tower has set its FY 2026 guidance at 10.900-11.07 EPS. As a group, equities analysts expect that American Tower Corporation will post 10.67 earnings per share for the current fiscal year.

American Tower Increases Dividend

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

Insider Activity at American Tower

In related news, Director Rajesh Kalathur bought 2,671 shares of the business's stock in a transaction that occurred on Tuesday, March 10th. The shares were bought at an average price of $185.30 per share, with a total value of $494,936.30. Following the completion of the transaction, the director directly owned 4,936 shares in the company, valued at approximately $914,640.80. This represents a 117.92% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, 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 value of $7,872,979.45. Following the transaction, the chief operating officer directly owned 29,592 shares in the company, valued at approximately $5,653,551.60. The trade was a 58.20% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 42,181 shares of company stock valued at $8,046,071 over the last 90 days. 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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