King Luther Capital Management Corp Sells 9,044 Shares of American Tower Corporation $AMT

Key Points

• King Luther Capital Management trimmed its American Tower stake by 4.0% in the fourth quarter, selling 9,044 shares and leaving it with 215,086 shares valued at about $37.8 million.
• American Tower reported strong quarterly results, with EPS of $2.84 beating estimates by a wide margin and revenue of $2.74 billion topping forecasts; the company also raised FY 2026 guidance to $10.90-$11.07 EPS.
• The REIT announced a quarterly dividend of $1.79 per share, or $7.16 annualized, implying a 3.9% yield, while analysts currently rate the stock a consensus Moderate Buy with an average target price of $216.20.

King Luther Capital Management Corp reduced its stake in American Tower Corporation (NYSE:AMT - Free Report) by 4.0% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 215,086 shares of the real estate investment trust's stock after selling 9,044 shares during the period. King Luther Capital Management Corp's holdings in American Tower were worth $37,763,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Oakworth Capital Inc. boosted its position in shares of American Tower by 90.7% in the 4th quarter. Oakworth Capital Inc. now owns 143 shares of the real estate investment trust's stock worth $25,000 after purchasing an additional 68 shares during the last quarter. Richards Merrill & Peterson Inc. bought a new position in American Tower during the fourth quarter worth about $25,000. Triumph Capital Management bought a new position in American Tower during the third quarter worth about $29,000. Holos Integrated Wealth LLC bought a new position in American Tower during the fourth quarter worth about $27,000. Finally, Root Financial Partners LLC bought a new position in American Tower during the third quarter worth about $32,000. 92.69% of the stock is currently owned by institutional investors.

American Tower Price Performance

NYSE:AMT opened at $185.36 on Wednesday. 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's 50-day simple moving average is $177.50 and its 200 day simple moving average is $179.20. The company has a market cap of $86.36 billion, a P/E ratio of 29.95, a P/E/G ratio of 0.77 and a beta of 0.90. American Tower Corporation has a 52-week low of $165.08 and a 52-week high of $234.33.

American Tower (NYSE:AMT - Get Free Report) last released its earnings results on Tuesday, April 28th. The real estate investment trust reported $2.84 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.60 by $1.24. The business had revenue of $2.74 billion for the quarter, compared to the consensus estimate of $2.66 billion. American Tower had a return on equity of 27.79% and a net margin of 26.81%.American Tower's quarterly revenue was up 6.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.75 earnings per share. American Tower has set its FY 2026 guidance at 10.900-11.07 EPS. As a group, sell-side analysts forecast that American Tower Corporation will post 10.67 EPS for the current fiscal year.

American Tower Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 13th. Investors of record on Friday, June 12th will be given a $1.79 dividend. The ex-dividend date of this dividend is Friday, June 12th. This represents a $7.16 dividend on an annualized basis and a dividend yield of 3.9%. American Tower's payout ratio is currently 115.67%.

Insider Activity at American Tower

In related news, Director Rajesh Kalathur bought 2,671 shares of the stock in a transaction that occurred on Tuesday, March 10th. The shares were acquired at an average price of $185.30 per share, with a total value of $494,936.30. Following the completion of the transaction, the director owned 4,936 shares in the company, valued at $914,640.80. The trade was a 117.92% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 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 completion of the sale, the chief operating officer directly owned 29,592 shares in the company, valued at approximately $5,653,551.60. This represents a 58.20% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 42,181 shares of company stock valued at $8,046,071. 0.08% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Royal Bank Of Canada reiterated a "sector perform" rating and set a $195.00 target price on shares of American Tower in a report on Thursday, April 30th. TD Cowen reduced their target price on American Tower from $235.00 to $225.00 in a report on Wednesday, February 25th. UBS Group reduced their target price on American Tower from $254.00 to $248.00 and set a "buy" rating on the stock in a report on Wednesday, February 25th. Morgan Stanley reduced their target price on American Tower from $225.00 to $220.00 and set an "overweight" rating on the stock in a report on Wednesday, February 25th. Finally, Barclays reduced their target price on American Tower from $200.00 to $195.00 and set an "equal weight" rating on the stock in a report on Thursday, April 16th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average 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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