Factory Mutual Insurance Co. Decreases Position in American Tower Corporation $AMT

Key Points

• Factory Mutual Insurance Co. trimmed its position in American Tower (AMT) by 2.5% in Q4, selling 5,800 shares and ending the period with 221,900 shares valued at about $38.96 million.
• American Tower reported Q4 EPS of $1.75 versus $2.54 expected (revenue $2.74B slightly above estimates), prompting several analysts to cut targets while the consensus rating remains a Moderate Buy with a $216.76 price target.
• The company raised its quarterly dividend to $1.79 (annualized $7.16), a ~4.0% yield, though the dividend payout ratio is elevated at 126.16%.

Factory Mutual Insurance Co. lessened its holdings in shares of American Tower Corporation (NYSE:AMT - Free Report) by 2.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 221,900 shares of the real estate investment trust's stock after selling 5,800 shares during the period. Factory Mutual Insurance Co.'s holdings in American Tower were worth $38,959,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Abound Wealth Management lifted its holdings in shares of American Tower by 137.3% during the 3rd quarter. Abound Wealth Management now owns 140 shares of the real estate investment trust's stock valued at $27,000 after purchasing an additional 81 shares during the last quarter. Triumph Capital Management purchased a new stake in shares of American Tower during the 3rd quarter valued at $29,000. Holos Integrated Wealth LLC acquired a new stake in American Tower in the 4th quarter worth approximately $27,000. Root Financial Partners LLC purchased a new stake in American Tower during the 3rd quarter worth approximately $32,000. Finally, Westside Investment Management Inc. grew its position in American Tower by 103.6% during the 3rd quarter. Westside Investment Management Inc. now owns 169 shares of the real estate investment trust's stock worth $33,000 after purchasing an additional 86 shares during the last quarter. Hedge funds and other institutional investors own 92.69% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. Mizuho dropped their target price 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. JPMorgan Chase & Co. dropped their target price on shares of American Tower from $250.00 to $245.00 and set an "overweight" rating on the stock in a research report on Monday, January 12th. TD Cowen reduced their target price on American Tower from $235.00 to $225.00 in a research note on Wednesday, February 25th. Truist Financial initiated coverage on American Tower in a research note on Tuesday, March 31st. They issued a "buy" rating and a $205.00 target price for the company. Finally, Morgan Stanley reduced their target price on American Tower from $225.00 to $220.00 and set an "overweight" rating for the company in a research note on Wednesday, February 25th. Two research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat.com, American Tower currently has a consensus rating of "Moderate Buy" and a consensus price target of $216.76.

Insider Transactions at American Tower

In related news, Director Rajesh Kalathur acquired 2,671 shares of American Tower stock in a transaction on Tuesday, March 10th. The stock was acquired at an average price of $185.30 per share, for a total transaction of $494,936.30. Following the purchase, the director owned 4,936 shares of the company's stock, valued at approximately $914,640.80. This represents a 117.92% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Eugene M. Noel sold 41,209 shares of American Tower stock in a transaction dated 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 owned 29,592 shares of the company's stock, valued at $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. Company insiders own 0.17% of the company's stock.

American Tower Stock Performance

Shares of AMT stock opened at $179.29 on Friday. The firm has a market capitalization of $83.56 billion, a price-to-earnings ratio of 33.26, a price-to-earnings-growth ratio of 0.76 and a beta of 0.92. The company has a debt-to-equity ratio of 3.27, a current ratio of 0.60 and a quick ratio of 0.60. The business has a fifty day moving average of $180.78 and a 200 day moving average of $181.20. American Tower Corporation has a 1 year low of $165.08 and a 1 year high of $234.33.

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

American Tower Increases Dividend

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

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.

Want to see what other hedge funds are holding AMT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for American Tower Corporation (NYSE:AMT - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.