Fisher Funds Management LTD Lowers Stake in American Tower Corporation $AMT

Key Points

• Fisher Funds Management reduced its American Tower stake by 27.2% in the first quarter, selling 78,211 shares and leaving it with 209,470 shares valued at about $36.15 million.
• American Tower reported strong quarterly earnings, posting $2.84 EPS versus $1.60 expected and revenue of $2.74 billion, while also raising FY 2026 EPS guidance to 10.90–11.07.
• The company declared a quarterly dividend of $1.79 per share, equal to $7.16 annually and a 4.1% yield, though the payout ratio is elevated at 115.67%.

Fisher Funds Management LTD cut its position in shares of American Tower Corporation (NYSE:AMT - Free Report) by 27.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 209,470 shares of the real estate investment trust's stock after selling 78,211 shares during the quarter. Fisher Funds Management LTD's holdings in American Tower were worth $36,150,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. CIBC Bancorp USA Inc. acquired a new stake in American Tower during the 3rd quarter worth approximately $35,633,000. Nordea Investment Management AB lifted its position in American Tower by 10.4% during the fourth quarter. Nordea Investment Management AB now owns 1,743,321 shares of the real estate investment trust's stock valued at $306,284,000 after buying an additional 164,645 shares in the last quarter. Rathbones Group PLC lifted its position in American Tower by 14.9% during the fourth quarter. Rathbones Group PLC now owns 474,216 shares of the real estate investment trust's stock valued at $83,258,000 after buying an additional 61,428 shares in the last quarter. Legal & General Group Plc grew its stake in American Tower by 4.7% during the fourth quarter. Legal & General Group Plc now owns 4,873,695 shares of the real estate investment trust's stock worth $855,675,000 after buying an additional 220,447 shares during the period. Finally, Clearstead Trust LLC grew its stake in American Tower by 69.0% during the third quarter. Clearstead Trust LLC now owns 24,477 shares of the real estate investment trust's stock worth $4,707,000 after buying an additional 9,990 shares during the period. 92.69% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at American Tower

In other American Tower news, EVP Ruth T. Dowling sold 416 shares of American Tower stock in a transaction that occurred on 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 directly owned 29,461 shares in the company, valued at $5,230,505.94. The trade was a 1.39% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.08% of the stock is owned by corporate insiders.

American Tower Stock Performance

NYSE:AMT opened at $175.66 on Monday. The firm has a 50-day moving average of $181.59 and a two-hundred day moving average of $179.94. The company has a debt-to-equity ratio of 3.07, a current ratio of 0.43 and a quick ratio of 0.43. The stock has a market cap of $81.84 billion, a P/E ratio of 28.38, a PEG ratio of 0.74 and a beta of 0.90. 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 announced its earnings results 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. American Tower had a return on equity of 27.79% and a net margin of 26.81%.The business had revenue of $2.74 billion for the quarter, compared to analyst estimates of $2.66 billion. During the same period in the previous year, the company earned $2.75 earnings per share. The company's revenue for the quarter was up 6.8% compared to the same quarter last year. American Tower has set its FY 2026 guidance at 10.900-11.07 EPS. On average, research analysts expect that American Tower Corporation will post 10.66 earnings per share for the current fiscal year.

American Tower Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 13th. Shareholders of record on Friday, June 12th will be paid a dividend of $1.79 per share. This represents a $7.16 dividend on an annualized basis and a yield of 4.1%. The ex-dividend date is Friday, June 12th. American Tower's dividend payout ratio (DPR) is 115.67%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on AMT. TD Cowen cut their target price on shares of American Tower from $235.00 to $225.00 in a research note on Wednesday, February 25th. 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. Mizuho upgraded American Tower from a "neutral" rating to an "outperform" rating and increased their price target for the company from $189.00 to $205.00 in a report on Wednesday, April 15th. BMO Capital Markets increased their price target on American Tower from $185.00 to $200.00 and gave the company a "market perform" rating in a report on Wednesday, February 25th. Finally, Barclays cut their price objective 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 issued a Buy rating and five have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $216.20.

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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