Mar Vista Investment Partners LLC Trims Stock Position in American Tower Corporation $AMT

Key Points

• Mar Vista Investment Partners cut its American Tower stake by 8.8% in the second quarter, selling 7,849 shares and retaining 81,434 shares worth approximately $13.32 million. Institutional investors and hedge funds collectively own 92.69% of the stock.
• American Tower reported quarterly EPS of $2.71, exceeding the $1.57 analyst consensus, while revenue rose 4.6% year over year to $2.75 billion. The company also pays a quarterly dividend of $1.79, equating to a 4.2% yield.
• Despite recent insider selling, Wall Street maintains a “Moderate Buy” consensus rating, with an average price target of $215.14 versus the stock’s reported price of $172.45.

Mar Vista Investment Partners LLC trimmed its holdings in American Tower Corporation (NYSE:AMT - Free Report) by 8.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 81,434 shares of the real estate investment trust's stock after selling 7,849 shares during the quarter. American Tower accounts for approximately 1.3% of Mar Vista Investment Partners LLC's investment portfolio, making the stock its 27th biggest holding. Mar Vista Investment Partners LLC's holdings in American Tower were worth $13,320,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Richards Merrill & Peterson Inc. purchased a new position in shares of American Tower during the 4th quarter valued at about $25,000. Oakworth Capital Inc. boosted 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 during the last quarter. Swiss RE Ltd. acquired a new stake in American Tower during the fourth quarter worth about $25,000. Allied Private Wealth LLC purchased a new position in American Tower during the second quarter valued at approximately $29,000. Finally, Triumph Capital Management purchased a new position in American Tower during the third quarter valued at approximately $29,000. 92.69% of the stock is owned by institutional investors and hedge funds.

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American Tower Stock Up 0.1%

American Tower stock opened at $172.45 on Wednesday. American Tower Corporation has a 12 month low of $160.06 and a 12 month high of $214.79. The stock has a market capitalization of $80.35 billion, a PE ratio of 23.72, a price-to-earnings-growth ratio of 2.79 and a beta of 0.90. The company has a debt-to-equity ratio of 3.12, a current ratio of 0.52 and a quick ratio of 0.52. The business has a 50 day simple moving average of $172.11 and a 200-day simple moving average of $177.84.

American Tower (NYSE:AMT - Get Free Report) last released its quarterly earnings results on Tuesday, July 28th. The real estate investment trust reported $2.71 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.57 by $1.14. The firm had revenue of $2.75 billion for the quarter, compared to analysts' expectations of $2.70 billion. American Tower had a net margin of 31.08% and a return on equity of 32.76%. The firm's revenue for the quarter was up 4.6% compared to the same quarter last year. During the same quarter last year, the company earned $2.60 EPS. American Tower has set its FY 2026 guidance at 11.000-11.170 EPS. On average, analysts anticipate that American Tower Corporation will post 10.78 EPS for the current fiscal year.

American Tower Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 13th. Investors of record on Friday, June 12th were issued a $1.79 dividend. This represents a $7.16 annualized dividend and a yield of 4.2%. The ex-dividend date was Friday, June 12th. American Tower's payout ratio is presently 98.49%.

Insider Buying and Selling

In related news, EVP Ruth T. Dowling sold 1,106 shares of the business's stock in a transaction that occurred on Wednesday, July 29th. The stock was sold at an average price of $174.96, for a total transaction of $193,505.76. Following the completion of the sale, the executive vice president directly owned 27,711 shares in the company, valued at approximately $4,848,316.56. The trade was a 3.84% 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. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Robert Joseph Meyer sold 5,000 shares of the company's stock in a transaction on Wednesday, July 29th. The stock was sold at an average price of $178.89, for a total transaction of $894,450.00. Following the sale, the chief financial officer directly owned 21,428 shares of the company's stock, valued at $3,833,254.92. The trade was a 18.92% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 6,791 shares of company stock worth $1,204,091 over the last ninety days. Corporate insiders own 0.08% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have commented on AMT. Weiss Ratings upgraded American Tower from a "hold (c-)" rating to a "hold (c)" rating in a research report on Tuesday, July 14th. The Goldman Sachs Group set a $210.00 target price on shares of American Tower in a research note on Tuesday, July 28th. Wolfe Research raised shares of American Tower from a "peer perform" rating to an "outperform" rating and set a $188.00 price target on the stock in a report on Wednesday, July 8th. TD Cowen raised their price target on shares of American Tower from $225.00 to $227.00 and gave the company a "buy" rating in a research report on Wednesday, July 29th. Finally, JPMorgan Chase & Co. cut their price objective on shares of American Tower from $245.00 to $240.00 and set an "overweight" rating for the company in a report on Wednesday, April 29th. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $215.14.

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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