Cullinan Associates Inc. Trims Position in American Tower Corporation $AMT

Key Points

• Cullinan Associates cut its stake in American Tower by 86.5% in Q4, selling 14,111 shares and leaving it with 2,200 shares valued at about $386,000.
• American Tower beat Q1 expectations with EPS of $2.84 (vs. $1.60 est.) and $2.74B revenue, raised FY‑2026 EPS guidance to 10.90–11.07, and increased the quarterly dividend to $1.79 (annualized $7.16, ~3.9% yield).
• Insider and institutional activity is mixed: insiders sold 42,181 shares in the past 90 days (including a small 556‑share Rule 10b5‑1 sale by an EVP) while a director bought 2,671 shares; institutional ownership is ~92.7% and analysts' consensus is a "Moderate Buy" with an average target of about $218.05.

Cullinan Associates Inc. trimmed its position in shares of American Tower Corporation (NYSE:AMT - Free Report) by 86.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,200 shares of the real estate investment trust's stock after selling 14,111 shares during the period. Cullinan Associates Inc.'s holdings in American Tower were worth $386,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. raised its position in shares of American Tower by 8.9% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 96,793 shares of the real estate investment trust's stock valued at $18,615,000 after purchasing an additional 7,872 shares during the last quarter. Eastern Bank grew its position in American Tower by 69.6% during the 3rd quarter. Eastern Bank now owns 139,091 shares of the real estate investment trust's stock worth $26,750,000 after purchasing an additional 57,078 shares during the last quarter. Krilogy Financial LLC acquired a new position in American Tower during the 3rd quarter valued at approximately $1,044,000. Machina Capital S.A.S. acquired a new position in American Tower during the 3rd quarter valued at approximately $2,871,000. Finally, Commerzbank Aktiengesellschaft FI raised its holdings in shares of American Tower by 92.4% in the third quarter. Commerzbank Aktiengesellschaft FI now owns 61,397 shares of the real estate investment trust's stock worth $11,808,000 after buying an additional 29,486 shares during the last quarter. Hedge funds and other institutional investors own 92.69% of the company's stock.

Insider Activity at American Tower

In other American Tower news, EVP Ruth T. Dowling sold 556 shares of the business's stock in a transaction that occurred on Tuesday, April 28th. The stock was sold at an average price of $178.48, for a total value of $99,234.88. Following the completion of the transaction, the executive vice president directly owned 29,877 shares of the company's stock, valued at approximately $5,332,446.96. The trade was a 1.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Rajesh Kalathur acquired 2,671 shares of the stock in a transaction on Tuesday, March 10th. The stock was bought at an average price of $185.30 per share, for a total transaction of $494,936.30. Following the transaction, the director owned 4,936 shares in the company, valued at approximately $914,640.80. This represents a 117.92% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last ninety days, insiders sold 42,181 shares of company stock worth $8,046,071. 0.08% of the stock is owned by corporate insiders.

American Tower Price Performance

NYSE:AMT opened at $182.89 on Friday. The firm's fifty day moving average is $180.04 and its two-hundred day moving average is $180.05. The firm has a market cap of $85.24 billion, a price-to-earnings ratio of 29.55, a PEG ratio of 0.75 and a beta of 0.92. The company has a debt-to-equity ratio of 3.07, a quick ratio of 0.60 and a current ratio of 0.43. American Tower Corporation has a one year low of $165.08 and a one 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 for the quarter, beating analysts' consensus estimates of $1.60 by $1.24. The business had revenue of $2.74 billion during the quarter, compared to analyst estimates of $2.66 billion. American Tower had a return on equity of 27.79% and a net margin of 26.81%.The company's revenue was up 6.8% on a year-over-year basis. During the same quarter last year, the business posted $2.75 EPS. American Tower has set its FY 2026 guidance at 10.900-11.07 EPS. Research analysts expect that American Tower Corporation will post 10.59 EPS for the current year.

American Tower Increases Dividend

The business also recently declared 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. This is an increase from American Tower's previous quarterly dividend of $1.70. This represents a $7.16 annualized dividend and a yield of 3.9%. The ex-dividend date was Tuesday, April 14th. American Tower's dividend payout ratio (DPR) is 115.67%.

American Tower News Roundup

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

• Positive Sentiment: Q1 beat and raised outlook — AMT reported AFFO of $2.84 (above estimates) and revenue of $2.74B; management raised full‑year outlook, driving investor confidence. Read More.
• Positive Sentiment: Data‑center momentum — CoreSite rolled out 100Gbps across its Open Cloud Exchange to support AI/ML high‑bandwidth workloads; management cites this segment as a growth driver. Read More.
• Positive Sentiment: Analyst upside — several firms raised targets or ratings (Truist, Scotiabank, Sanford/Bernstein, Citizens/JMP among others), signaling institutional support for AMT’s growth story. Read More.
• Neutral Sentiment: JPMorgan trimmed its price target from $245 to $240 but kept an overweight stance — still a sizable upside, so the move is more of a calibration than a negative re‑rating. Read More.
• Neutral Sentiment: Mixed/varied brokerage views — RBC reaffirmed sector perform ($195), Barclays & Mizuho issued mixed notes; analysts differ on regional/margin risks versus long‑run growth. Read More.
• Neutral Sentiment: Insider selling disclosed — EVP Ruth T. Dowling sold small lots under a pre‑arranged Rule 10b5‑1 plan (minor ownership reduction); typical for planned programs and not an immediate red flag for fundamentals. Read More.
• Negative Sentiment: Critical analyst commentary — a Seeking Alpha piece argued the stock lacks catalysts to re‑rate and flagged margin/valuation concerns, which may fuel short‑term profit‑taking by some investors. Read More.

Wall Street Analysts Forecast Growth

AMT has been the topic of a number of research analyst reports. Royal Bank Of Canada reissued a "sector perform" rating and set a $195.00 price objective on shares of American Tower in a report on Thursday. Morgan Stanley lowered their price target on American Tower from $225.00 to $220.00 and set an "overweight" rating for the company in a research report on Wednesday, February 25th. Scotiabank increased their price objective on American Tower from $214.00 to $218.00 and gave the company an "outperform" rating in a report on Wednesday. Weiss Ratings cut American Tower from a "hold (c)" rating to a "hold (c-)" rating in a research note on Monday. Finally, Barclays dropped their target price on American Tower from $200.00 to $195.00 and set an "equal weight" rating on the stock in a research report on Thursday, April 16th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $218.05.

American Tower 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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