FourThought Financial Partners LLC Has $21.29 Million Stake in American Tower Corporation $AMT

Key Points

• FourThought Financial Partners reduced its American Tower stake by 8.9% in the fourth quarter, selling 11,801 shares and leaving it with 121,242 shares valued at about $21.29 million.
• American Tower beat earnings expectations in its latest quarter, reporting $2.84 EPS versus $1.60 expected, while revenue rose 6.8% year over year to $2.74 billion.
• The company raised its quarterly dividend to $1.79 per share from $1.70, and analysts currently rate the stock a Moderate Buy with an average price target of $216.20.

FourThought Financial Partners LLC cut its position in American Tower Corporation (NYSE:AMT - Free Report) by 8.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 121,242 shares of the real estate investment trust's stock after selling 11,801 shares during the quarter. American Tower accounts for about 1.8% of FourThought Financial Partners LLC's holdings, making the stock its 11th biggest holding. FourThought Financial Partners LLC's holdings in American Tower were worth $21,286,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in AMT. Richards Merrill & Peterson Inc. bought a new position in shares of American Tower during the fourth quarter valued at $25,000. Oakworth Capital Inc. increased its holdings in American Tower by 90.7% in the fourth quarter. Oakworth Capital Inc. now owns 143 shares of the real estate investment trust's stock valued at $25,000 after purchasing an additional 68 shares during the period. Holos Integrated Wealth LLC acquired a new stake in American Tower in the fourth quarter valued at $27,000. Triumph Capital Management bought a new position in American Tower during the 3rd quarter worth $29,000. Finally, Steph & Co. grew its position in shares of American Tower by 87.2% in the 4th quarter. Steph & Co. now owns 176 shares of the real estate investment trust's stock valued at $31,000 after buying an additional 82 shares during the last quarter. 92.69% of the stock is currently owned by institutional investors.

American Tower Trading Up 0.5%

Shares of American Tower stock opened at $183.89 on Thursday. American Tower Corporation has a 52 week low of $165.08 and a 52 week high of $234.33. The stock has a 50 day moving average price of $177.43 and a two-hundred day moving average price of $179.05. The company has a debt-to-equity ratio of 3.07, a quick ratio of 0.43 and a current ratio of 0.43. The stock has a market capitalization of $85.67 billion, a PE ratio of 29.71, a price-to-earnings-growth ratio of 0.76 and a beta of 0.90.

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, topping the consensus estimate of $1.60 by $1.24. American Tower had a net margin of 26.81% and a return on equity of 27.79%. The firm had revenue of $2.74 billion for the quarter, compared to the consensus estimate of $2.66 billion. During the same quarter in the prior year, the company posted $2.75 earnings per share. The business's revenue was up 6.8% on a year-over-year basis. American Tower has set its FY 2026 guidance at 10.900-11.07 EPS. As a group, equities analysts anticipate that American Tower Corporation will post 10.67 earnings per share for the current fiscal year.

American Tower Increases Dividend

The company 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. The ex-dividend date of this dividend was Tuesday, April 14th. This is an increase from American Tower's previous quarterly dividend of $1.70. This represents a $7.16 dividend on an annualized basis and a dividend yield of 3.9%. American Tower's payout ratio is 115.67%.

Insiders Place Their Bets

In other American Tower news, EVP Ruth T. Dowling sold 556 shares of the company's stock in a transaction 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 owned 29,877 shares in the company, valued at $5,332,446.96. This represents a 1.83% decrease in their position. The sale 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. Also, COO Eugene M. Noel sold 41,209 shares of the business's stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $191.05, for a total transaction of $7,872,979.45. Following the completion of the transaction, the chief operating officer directly owned 29,592 shares in the company, valued at $5,653,551.60. This trade represents a 58.20% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 42,181 shares of company stock valued at $8,046,071 in the last 90 days. 0.08% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on AMT. Barclays lowered their price objective on American Tower from $200.00 to $195.00 and set an "equal weight" rating for the company in a research report on Thursday, April 16th. BMO Capital Markets raised their price target on shares of American Tower from $185.00 to $200.00 and gave the stock a "market perform" rating in a report on Wednesday, February 25th. Jefferies Financial Group upped their price objective on shares of American Tower from $209.00 to $210.00 and gave the company a "buy" rating in a research note on Tuesday, April 14th. Royal Bank Of Canada reissued a "sector perform" rating and set a $195.00 target price on shares of American Tower in a research note on Thursday, April 30th. Finally, Scotiabank boosted their target price on shares of American Tower from $214.00 to $218.00 and gave the company an "outperform" rating in a report on Wednesday, April 29th. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $216.20.

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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