Knuff & Co LLC Sells 6,935 Shares of American Tower Corporation $AMT

Key Points

• Knuff & Co LLC reduced its American Tower stake by 28% in Q4, selling 6,935 shares and ending with 17,810 shares worth about $3.13 million.
• American Tower reported strong quarterly results, with EPS of $2.84 beating estimates by a wide margin and revenue of $2.74 billion also topping forecasts; it also raised its quarterly dividend to $1.79 per share.
• Analysts remain broadly positive on the stock, with a Moderate Buy consensus and an average price target of $218.05, while the shares recently traded around $174.04.

Knuff & Co LLC trimmed its position in shares of American Tower Corporation (NYSE:AMT - Free Report) by 28.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 17,810 shares of the real estate investment trust's stock after selling 6,935 shares during the period. American Tower comprises 0.9% of Knuff & Co LLC's holdings, making the stock its 27th biggest holding. Knuff & Co LLC's holdings in American Tower were worth $3,127,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the company. Independent Advisor Alliance grew its holdings in American Tower by 184.1% during the 4th quarter. Independent Advisor Alliance now owns 15,106 shares of the real estate investment trust's stock valued at $2,652,000 after purchasing an additional 9,788 shares during the last quarter. World Investment Advisors grew its holdings in American Tower by 14.6% during the 4th quarter. World Investment Advisors now owns 4,327 shares of the real estate investment trust's stock valued at $760,000 after purchasing an additional 552 shares during the last quarter. Seelaus Asset Management LLC grew its holdings in American Tower by 62.3% during the 4th quarter. Seelaus Asset Management LLC now owns 2,344 shares of the real estate investment trust's stock valued at $412,000 after purchasing an additional 900 shares during the last quarter. Meridian Wealth Management LLC bought a new position in American Tower during the 4th quarter valued at about $204,000. Finally, Bailard Inc. grew its holdings in American Tower by 10.5% during the 4th quarter. Bailard Inc. now owns 6,331 shares of the real estate investment trust's stock valued at $1,112,000 after purchasing an additional 599 shares during the last quarter. 92.69% of the stock is currently owned by institutional investors.

Insider Transactions at American Tower

In other news, EVP Ruth T. Dowling sold 416 shares of the company's stock in a transaction that occurred on Wednesday, April 29th. The shares were sold at an average price of $177.54, for a total value of $73,856.64. Following the completion of the sale, the executive vice president owned 29,461 shares of the company's stock, valued at approximately $5,230,505.94. This represents a 1.39% decrease in their position. The sale 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 company's stock in a transaction that occurred on 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 sale, the chief operating officer directly owned 29,592 shares of the company's stock, valued at $5,653,551.60. The trade was a 58.20% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 42,181 shares of company stock valued at $8,046,071. Company insiders own 0.08% of the company's stock.

Wall Street Analyst Weigh In

AMT has been the topic of several analyst reports. Raymond James Financial reiterated a "strong-buy" rating and set a $240.00 price target on shares of American Tower in a report on Wednesday, April 29th. Barclays cut their price target on shares of American Tower from $200.00 to $195.00 and set an "equal weight" rating on the stock in a report on Thursday, April 16th. Sanford C. Bernstein upped their target price 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. Weiss Ratings upgraded shares of American Tower from a "hold (c-)" rating to a "hold (c)" rating in a research note on Monday. Finally, TD Cowen dropped their target price on shares of American Tower from $235.00 to $225.00 in a research note on Wednesday, February 25th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, American Tower has an average rating of "Moderate Buy" and a consensus price target of $218.05.

American Tower Price Performance

Shares of AMT stock opened at $174.04 on Thursday. 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 company has a market capitalization of $81.08 billion, a P/E ratio of 28.12, a P/E/G ratio of 0.75 and a beta of 0.90. The company's 50-day simple moving average is $178.60 and its two-hundred day simple moving average is $179.32. American Tower Corporation has a one year low of $165.08 and a one year high of $234.33.

American Tower (NYSE:AMT - Get Free Report) last issued its earnings results on Tuesday, April 28th. The real estate investment trust reported $2.84 EPS for the quarter, topping 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 net margin of 26.81% and a return on equity of 27.79%. The company's revenue for the quarter was up 6.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.75 EPS. 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 EPS for the current year.

American Tower Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 28th. Stockholders of record on Tuesday, April 14th were given a $1.79 dividend. This represents a $7.16 annualized dividend and a dividend yield of 4.1%. The ex-dividend date of this dividend was Tuesday, April 14th. This is a boost from American Tower's previous quarterly dividend of $1.70. American Tower's dividend payout ratio is currently 115.67%.

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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