Jennison Associates LLC Reduces Stock Position in American Tower Corporation $AMT

Key Points

• Jennison Associates cut its stake in American Tower by 28.0% in Q4, selling 22,487 shares and leaving it with 57,955 shares worth about $10.18 million.
• American Tower reported a strong Q1 (EPS $2.84 vs. $1.60 est., revenue $2.74B vs. $2.66B), raised FY‑2026 guidance, and boosted the quarterly dividend to $1.79 (annualized $7.16, ~3.9% yield).
• Notable insider activity: COO Eugene M. Noel sold 41,209 shares (~$7.87M), cutting his stake by 58.2%, while Director Rajesh Kalathur purchased 2,671 shares; insiders sold 42,181 shares (~$8.05M) over the past 90 days.

Jennison Associates LLC reduced its holdings in shares of American Tower Corporation (NYSE:AMT - Free Report) by 28.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 57,955 shares of the real estate investment trust's stock after selling 22,487 shares during the quarter. Jennison Associates LLC's holdings in American Tower were worth $10,175,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of AMT. SOA Wealth Advisors LLC. grew its holdings in American Tower by 36.7% during the 3rd quarter. SOA Wealth Advisors LLC. now owns 205 shares of the real estate investment trust's stock valued at $39,000 after buying an additional 55 shares in the last quarter. Personal CFO Solutions LLC grew its holdings in American Tower by 3.5% during the 4th quarter. Personal CFO Solutions LLC now owns 1,667 shares of the real estate investment trust's stock valued at $293,000 after buying an additional 57 shares in the last quarter. Pines Wealth Management LLC grew its holdings in American Tower by 4.1% during the 3rd quarter. Pines Wealth Management LLC now owns 1,488 shares of the real estate investment trust's stock valued at $286,000 after buying an additional 58 shares in the last quarter. Pasadena Private Wealth LLC grew its holdings in American Tower by 4.0% during the 3rd quarter. Pasadena Private Wealth LLC now owns 1,544 shares of the real estate investment trust's stock valued at $297,000 after buying an additional 60 shares in the last quarter. Finally, Conscious Wealth Investments LLC grew its holdings in American Tower by 0.5% during the 3rd quarter. Conscious Wealth Investments LLC now owns 11,852 shares of the real estate investment trust's stock valued at $2,121,000 after buying an additional 60 shares in the last quarter. 92.69% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at American Tower

In other news, 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 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Rajesh Kalathur acquired 2,671 shares of the business's stock in a transaction dated Tuesday, March 10th. The shares were acquired at an average cost of $185.30 per share, with a total value of $494,936.30. Following the acquisition, the director directly owned 4,936 shares of the company's stock, valued at $914,640.80. This represents a 117.92% increase in their position. The SEC filing for this purchase provides additional information. Over the last 90 days, insiders sold 42,181 shares of company stock valued at $8,046,071. 0.08% of the stock is owned by corporate insiders.

American Tower Stock Down 0.5%

Shares of NYSE AMT opened at $181.72 on Friday. American Tower Corporation has a 12 month low of $165.08 and a 12 month high of $234.33. The company has a current ratio of 0.43, a quick ratio of 0.60 and a debt-to-equity ratio of 3.07. The firm has a market capitalization of $84.69 billion, a price-to-earnings ratio of 29.36, a PEG ratio of 0.76 and a beta of 0.90. The business has a 50-day moving average of $180.04 and a 200-day moving average of $180.03.

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 EPS for the quarter, topping the consensus estimate of $1.60 by $1.24. American Tower had a return on equity of 27.79% and a net margin of 26.81%.The company had revenue of $2.74 billion during the quarter, compared to analyst estimates of $2.66 billion. During the same quarter in the previous year, the firm earned $2.75 earnings per share. American Tower'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. Sell-side analysts expect that American Tower Corporation will post 10.67 earnings per share for the current fiscal year.

American Tower Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 28th. Stockholders of record on Tuesday, April 14th were issued a dividend of $1.79 per share. The ex-dividend date of this dividend was Tuesday, April 14th. This is a positive change from American Tower's previous quarterly dividend of $1.70. This represents a $7.16 annualized dividend and a dividend yield of 3.9%. American Tower's payout ratio is presently 115.67%.

American Tower News Roundup

Here are the key news stories impacting American Tower this week:

• Positive Sentiment: Q1 beat and upgraded outlook — AMT reported AFFO and revenue above estimates and raised FY‑2026 guidance, giving the stock fundamental support from recurring cash flow strength. Read More.
• Positive Sentiment: CoreSite/AI tailwinds — CoreSite launched 100Gbps connectivity across its Open Cloud Exchange to target AI/ML and high‑bandwidth workloads, supporting data‑center growth that can diversify AMT’s revenue mix. Read More.
• Positive Sentiment: Dividend lift — the company raised the quarterly dividend (to $1.79) paid late April, reinforcing the REIT income profile that appeals to yield‑oriented holders. Read More.
• Positive Sentiment: Analyst support — several firms raised price targets or reiterated buy/overweight stances (e.g., Truist raised its target), which underpins medium‑term upside expectations. Read More.
• Neutral Sentiment: JPMorgan recalibration — JPM trimmed its target from $245 to $240 but kept an overweight rating; this is a modest adjustment rather than a downgrade and leaves meaningful upside. Read More.
• Neutral Sentiment: RBC reaffirmed sector‑perform ($195) — mixed analyst views persist across brokers, creating intra‑day volatility as investors weigh growth vs. valuation. Read More.
• Neutral Sentiment: Insider selling under 10b5‑1 — EVP Ruth T. Dowling sold small lots (pre‑arranged plan); routine plan sales can seed supply but do not necessarily signal deteriorating fundamentals. Read More.
• Negative Sentiment: Critical commentary on valuation/catalysts — some analysts and commentators argue AMT lacks near‑term re‑rating catalysts and flag margin/valuation risks, which can prompt short‑term profit‑taking. Read More.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. Citizens Jmp reaffirmed a "market outperform" rating and set a $260.00 target price on shares of American Tower in a report on Wednesday. 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 report on Wednesday, February 25th. Weiss Ratings lowered American Tower from a "hold (c)" rating to a "hold (c-)" rating in a report on Monday, April 27th. Royal Bank Of Canada reaffirmed a "sector perform" rating and set a $195.00 target price on shares of American Tower in a report on Thursday. Finally, Scotiabank upped their target price on American Tower from $214.00 to $218.00 and gave the stock an "outperform" rating in a research note on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and six have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $218.05.

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.