Easterly Investment Partners LLC Cuts Stock Position in American Tower Corporation $AMT

Key Points

• Easterly Investment Partners cut its American Tower stake by 38.6% in the fourth quarter, selling 33,480 shares and leaving it with 53,180 shares worth about $9.34 million.
• American Tower reported strong quarterly results, posting EPS of $2.84 versus estimates of $1.60 and revenue of $2.74 billion, while also raising its FY 2026 EPS guidance to 10.90-11.07.
• The company declared a quarterly dividend of $1.79 per share, implying an annualized yield of about 3.8%; meanwhile, analysts currently rate the stock a consensus Moderate Buy with an average target price of $216.20.

Easterly Investment Partners LLC lowered its holdings in American Tower Corporation (NYSE:AMT - Free Report) by 38.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 53,180 shares of the real estate investment trust's stock after selling 33,480 shares during the period. Easterly Investment Partners LLC's holdings in American Tower were worth $9,337,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Northwestern Mutual Wealth Management Co. grew its holdings in American Tower by 20,721.6% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 9,712,672 shares of the real estate investment trust's stock valued at $1,705,254,000 after purchasing an additional 9,666,025 shares during the period. Norges Bank purchased a new stake in American Tower in the fourth quarter worth $1,171,180,000. Lazard Asset Management LLC lifted its position in shares of 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 last quarter. Viking Global Investors LP lifted its position in shares of 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 last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC purchased a new position in shares of American Tower during the 3rd quarter valued at $305,872,000. Hedge funds and other institutional investors own 92.69% of the company's stock.

Insider Transactions at American Tower

In related news, EVP Ruth T. Dowling sold 416 shares of the stock in a transaction dated Wednesday, April 29th. The stock was sold at an average price of $177.54, for a total transaction of $73,856.64. Following the sale, the executive vice president owned 29,461 shares of the company's stock, valued at approximately $5,230,505.94. This represents a 1.39% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Rajesh Kalathur acquired 2,671 shares of the company's stock in a transaction that occurred on Tuesday, March 10th. The shares were bought at an average cost of $185.30 per share, for a total transaction of $494,936.30. Following the acquisition, the director directly owned 4,936 shares in the company, valued at $914,640.80. This represents a 117.92% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Corporate insiders own 0.08% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on AMT shares. Morgan Stanley dropped their price target on American Tower from $225.00 to $220.00 and set an "overweight" rating on the stock in a research report on Wednesday, February 25th. Barclays dropped their price target 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. Citizens Jmp reaffirmed a "market outperform" rating and set a $260.00 price target on shares of American Tower in a research report on Wednesday, April 29th. Royal Bank Of Canada reaffirmed a "sector perform" rating and set a $195.00 price target on shares of American Tower in a research report on Thursday, April 30th. Finally, UBS Group dropped their price target on American Tower from $254.00 to $248.00 and set a "buy" rating on the stock in a research report on Wednesday, February 25th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $216.20.

American Tower Stock Performance

Shares of AMT opened at $186.87 on Monday. The stock's 50-day simple moving average is $177.67 and its 200 day simple moving average is $179.36. The stock has a market capitalization of $87.06 billion, a price-to-earnings ratio of 30.19, a price-to-earnings-growth ratio of 0.78 and a beta of 0.90. The company has a debt-to-equity ratio of 3.07, a quick ratio of 0.43 and a current ratio of 0.43. American Tower Corporation has a 52-week low of $165.08 and a 52-week high of $234.33.

American Tower (NYSE:AMT - Get Free Report) last issued its quarterly earnings data on Tuesday, April 28th. The real estate investment trust reported $2.84 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.60 by $1.24. The business had revenue of $2.74 billion for the quarter, compared to analysts' expectations of $2.66 billion. American Tower had a return on equity of 27.79% and a net margin of 26.81%.The firm's quarterly revenue was up 6.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.75 EPS. American Tower has set its FY 2026 guidance at 10.900-11.07 EPS. Research analysts forecast that American Tower Corporation will post 10.67 EPS for the current fiscal year.

American Tower Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 13th. Investors of record on Friday, June 12th will be issued 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 115.67%.

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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