Cbre Investment Management Listed Real Assets LLC Trims Stake in American Tower Corporation $AMT

Key Points

• Cbre Investment Management Listed Real Assets LLC cut its AMT stake by 16.9%, selling 135,014 shares and leaving it with 663,835 shares (about $127.67M), with AMT representing 1.8% of the firm's portfolio and its 19th largest holding.
• American Tower missed quarterly EPS, reporting $1.75 vs. $2.54 expected while revenue of $2.74B slightly beat estimates; the company set FY2026 guidance of $10.78–$10.95 EPS (analysts expect ~10.14).
• Dividend increased to $1.79 quarterly ($7.16 annual), implying a ~3.9% yield, though the payout ratio is elevated at 132.84%.

Cbre Investment Management Listed Real Assets LLC cut its position in shares of American Tower Corporation (NYSE:AMT - Free Report) by 16.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 663,835 shares of the real estate investment trust's stock after selling 135,014 shares during the period. American Tower makes up 1.8% of Cbre Investment Management Listed Real Assets LLC's portfolio, making the stock its 19th largest holding. Cbre Investment Management Listed Real Assets LLC owned about 0.14% of American Tower worth $127,669,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of American Tower in the second quarter worth approximately $1,371,875,000. JPMorgan Chase & Co. lifted its position in shares of American Tower by 24.3% during the second quarter. JPMorgan Chase & Co. now owns 12,666,082 shares of the real estate investment trust's stock worth $2,799,458,000 after purchasing an additional 2,474,328 shares during the last quarter. Viking Global Investors LP boosted its stake in shares of American Tower by 233.5% during the second 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 purchasing an additional 1,958,329 shares during the period. Barrow Hanley Mewhinney & Strauss LLC bought a new position in shares of American Tower in the third quarter worth about $305,872,000. Finally, Invesco Ltd. increased its stake in American Tower by 11.9% in the 2nd quarter. Invesco Ltd. now owns 6,680,524 shares of the real estate investment trust's stock worth $1,476,529,000 after buying an additional 708,808 shares during the period. Institutional investors own 92.69% of the company's stock.

Insider Buying and Selling

In other news, COO Eugene M. Noel sold 41,209 shares of the stock in a transaction dated 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 sale, the chief operating officer directly owned 29,592 shares of the company's stock, valued at $5,653,551.60. This represents a 58.20% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.17% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on AMT. BMO Capital Markets upped their target price on shares of American Tower from $185.00 to $200.00 and gave the stock a "market perform" rating in a research note on Wednesday, February 25th. The Goldman Sachs Group lowered their price target on American Tower from $230.00 to $210.00 and set a "buy" rating for the company in a report on Friday, January 16th. JPMorgan Chase & Co. dropped their price objective on American Tower from $250.00 to $245.00 and set an "overweight" rating on the stock in a research note on Monday, January 12th. Barclays reiterated an "equal weight" rating and issued a $200.00 target price (down from $203.00) on shares of American Tower in a report on Monday, December 1st. Finally, TD Cowen cut their price target on American Tower from $235.00 to $225.00 in a research note on Wednesday, February 25th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $217.35.

American Tower Stock Performance

Shares of AMT stock opened at $182.82 on Thursday. American Tower Corporation has a 12-month low of $166.88 and a 12-month high of $234.33. The business's fifty day simple moving average is $181.14 and its 200-day simple moving average is $184.47. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 3.27. The company has a market cap of $85.21 billion, a PE ratio of 33.92, a PEG ratio of 0.78 and a beta of 0.92.

American Tower (NYSE:AMT - Get Free Report) last posted its quarterly earnings data on Tuesday, February 24th. The real estate investment trust reported $1.75 earnings per share for the quarter, missing analysts' consensus estimates of $2.54 by ($0.79). The business had revenue of $2.74 billion during the quarter, compared to analyst estimates of $2.69 billion. American Tower had a return on equity of 24.36% and a net margin of 23.76%.The firm's revenue for the quarter was up 7.5% compared to the same quarter last year. During the same period in the previous year, the business earned $2.62 EPS. American Tower has set its FY 2026 guidance at 10.780-10.950 EPS. Analysts expect that American Tower Corporation will post 10.14 earnings per share for the current fiscal year.

American Tower Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 28th. Shareholders of record on Tuesday, April 14th will be issued a $1.79 dividend. The ex-dividend date of this dividend is Tuesday, April 14th. This is a boost from American Tower's previous quarterly dividend of $1.70. This represents a $7.16 dividend on an annualized basis and a yield of 3.9%. American Tower's dividend payout ratio is presently 132.84%.

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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