Highland Capital Management LLC Acquires Shares of 13,452 American Tower Corporation $AMT

Key Points

• Highland Capital Management LLC acquired a new stake of 13,452 shares in American Tower (NYSE:AMT) during the fourth quarter, valued at about $2.36 million.
• American Tower beat expectations for the quarter with EPS of $2.84 versus $1.60 consensus and revenue of $2.74 billion, and set FY2026 guidance of $10.90–$11.07 EPS.
• Significant insider selling occurred recently: COO Eugene M. Noel sold 41,209 shares (~$7.87M), and insiders sold 42,181 shares totaling about $8.05M over the past 90 days, leaving insiders with 0.08% ownership.

Highland Capital Management LLC acquired a new stake in shares of American Tower Corporation (NYSE:AMT - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 13,452 shares of the real estate investment trust's stock, valued at approximately $2,362,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Oakworth Capital Inc. lifted its stake in shares of American Tower by 90.7% in the fourth quarter. Oakworth Capital Inc. now owns 143 shares of the real estate investment trust's stock worth $25,000 after buying an additional 68 shares in the last quarter. Richards Merrill & Peterson Inc. purchased a new position in shares of American Tower in the fourth quarter worth about $25,000. Triumph Capital Management purchased a new position in shares of American Tower in the third quarter worth about $29,000. Holos Integrated Wealth LLC purchased a new position in shares of American Tower in the fourth quarter worth about $27,000. Finally, Root Financial Partners LLC purchased a new position in shares of American Tower in the third quarter worth about $32,000. 92.69% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, EVP Ruth T. Dowling sold 416 shares of the firm's stock in a transaction dated Wednesday, April 29th. The shares were sold at an average price of $177.54, for a total transaction of $73,856.64. Following the completion of the sale, the executive vice president directly owned 29,461 shares in the company, valued at approximately $5,230,505.94. This trade represents a 1.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Eugene M. Noel sold 41,209 shares of the firm'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 sale, the chief operating officer owned 29,592 shares of the company's stock, valued at approximately $5,653,551.60. The trade was a 58.20% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 42,181 shares of company stock worth $8,046,071. Insiders own 0.08% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on AMT. Jefferies Financial Group raised their price target on shares of American Tower from $209.00 to $210.00 and gave the stock a "buy" rating in a research note on Tuesday, April 14th. 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 research note on Wednesday, February 25th. Royal Bank Of Canada reissued a "sector perform" rating and issued a $195.00 price target on shares of American Tower in a research note on Thursday, April 30th. UBS Group decreased their price target on shares of American Tower from $254.00 to $248.00 and set a "buy" rating on the stock in a research note on Wednesday, February 25th. Finally, Sanford C. Bernstein raised their price target on shares of American Tower from $205.00 to $207.00 and gave the stock a "market perform" rating in a research note on Tuesday, April 28th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $218.05.

American Tower Price Performance

American Tower stock opened at $178.17 on Wednesday. American Tower Corporation has a 12-month low of $165.08 and a 12-month high of $234.33. The stock has a market cap of $83.04 billion, a P/E ratio of 28.78, a PEG ratio of 0.76 and a beta of 0.90. The company has a 50-day moving average price of $179.86 and a 200 day moving average price of $179.90. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 3.07.

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 (EPS) 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 during the quarter, compared to analysts' expectations of $2.66 billion. During the same period last year, the business earned $2.75 earnings per share. American Tower's revenue 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. Sell-side analysts anticipate that American Tower Corporation will post 10.67 earnings per share for the current year.

American Tower Increases Dividend

The company also recently disclosed 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 was Tuesday, April 14th. 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 4.0%. American Tower's dividend payout ratio (DPR) 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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