Bartlett & CO. Wealth Management LLC Decreases Holdings in American Tower Corporation $AMT

Key Points

• Bartlett & CO. Wealth Management LLC trimmed its stake in American Tower by 75.9% in Q4, selling 189,790 shares and leaving 60,116 shares valued at about $10.67 million.
• Several large institutions materially increased or opened positions (e.g., Lazard +1,984.8% to 4.46M shares, Viking +233.5%, Two Sigma +733.1%, Barrow Hanley new $305.9M stake), with about 92.69% of AMT held by institutional investors.
• American Tower missed quarterly EPS ($1.75 vs. $2.54) despite 7.5% revenue growth, raised its quarterly dividend to $1.79 (4.0% yield), and carries a consensus Moderate Buy rating with a $216.76 target price.

Bartlett & CO. Wealth Management LLC trimmed its holdings in shares of American Tower Corporation (NYSE:AMT - Free Report) by 75.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 60,116 shares of the real estate investment trust's stock after selling 189,790 shares during the quarter. Bartlett & CO. Wealth Management LLC's holdings in American Tower were worth $10,667,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the business. Lazard Asset Management LLC raised its holdings in American Tower by 1,984.8% during the 3rd quarter. Lazard Asset Management LLC now owns 4,464,382 shares of the real estate investment trust's stock valued at $858,552,000 after buying an additional 4,250,242 shares during the period. Viking Global Investors LP raised its holdings in American Tower by 233.5% during the 2nd quarter. Viking Global Investors LP now owns 2,797,125 shares of the real estate investment trust's stock valued at $618,221,000 after buying an additional 1,958,329 shares during the period. Barrow Hanley Mewhinney & Strauss LLC purchased a new stake in American Tower during the 3rd quarter valued at $305,872,000. Arrowstreet Capital Limited Partnership raised its holdings in American Tower by 35.0% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 2,796,007 shares of the real estate investment trust's stock valued at $537,728,000 after buying an additional 724,504 shares during the period. Finally, Two Sigma Investments LP raised its holdings in American Tower by 733.1% during the 3rd quarter. Two Sigma Investments LP now owns 804,761 shares of the real estate investment trust's stock valued at $154,772,000 after buying an additional 708,158 shares during the period. 92.69% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts recently weighed in on AMT shares. Royal Bank Of Canada decreased their price target on American Tower from $220.00 to $195.00 and set a "sector perform" rating on the stock in a report on Monday, January 12th. Mizuho reduced their price objective on shares of American Tower from $217.00 to $189.00 and set a "neutral" rating on the stock in a research report on Monday, January 12th. Jefferies Financial Group increased their price objective on shares of American Tower from $200.00 to $209.00 and gave the stock a "buy" rating in a research report on Thursday, February 26th. Scotiabank reduced their price objective on shares of American Tower from $220.00 to $214.00 and set a "sector outperform" rating on the stock in a research report on Wednesday, February 25th. Finally, New Street Research raised shares of American Tower from a "neutral" rating to a "buy" rating and set a $203.00 price objective on the stock in a research report on Monday, January 5th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $216.76.

American Tower Stock Performance

Shares of NYSE:AMT opened at $179.29 on Friday. The firm has a market cap of $83.56 billion, a PE ratio of 33.26, a price-to-earnings-growth ratio of 0.76 and a beta of 0.92. The firm's 50 day simple moving average is $180.78 and its 200-day simple moving average is $181.20. American Tower Corporation has a one year low of $165.08 and a one year high of $234.33. 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 (NYSE:AMT - Get Free Report) last announced its quarterly earnings results on Tuesday, February 24th. The real estate investment trust reported $1.75 EPS for the quarter, missing the consensus estimate of $2.54 by ($0.79). The firm had revenue of $2.74 billion for the quarter, compared to analysts' expectations of $2.69 billion. American Tower had a net margin of 23.76% and a return on equity of 24.36%. The business's quarterly revenue was up 7.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.62 EPS. American Tower has set its FY 2026 guidance at 10.780-10.950 EPS. As a group, equities analysts predict that American Tower Corporation will post 10.14 EPS for the current year.

American Tower Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 28th. Stockholders of record on Tuesday, April 14th will be paid a dividend of $1.79 per share. This is an increase from American Tower's previous quarterly dividend of $1.70. This represents a $7.16 annualized dividend and a dividend yield of 4.0%. The ex-dividend date is Tuesday, April 14th. American Tower's payout ratio is 126.16%.

Insider Buying and Selling at American Tower

In other news, Director Rajesh Kalathur purchased 2,671 shares of the business's stock in a transaction dated Tuesday, March 10th. The shares were purchased at an average price of $185.30 per share, for a total transaction of $494,936.30. Following the completion of the purchase, the director owned 4,936 shares in the company, valued at approximately $914,640.80. This represents a 117.92% increase in their position. The purchase was disclosed in a 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 transaction 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 ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 0.17% 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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