Naviter Wealth LLC Sells 8,041 Shares of American Tower Corporation $AMT

Key Points

• Naviter Wealth LLC reduced its stake in American Tower by 24.4%, selling 8,041 shares in Q4 and now holds 24,946 shares valued at about $4.425 million.
• American Tower missed Q4 EPS ($1.75 vs. consensus $2.54) even as revenue rose 7.5% YoY, and the company set FY2026 guidance of $10.78–$10.95 EPS.
• The REIT raised its quarterly dividend to $1.79 (annualized $7.16, ~4.1% yield), while COO Eugene M. Noel sold 41,209 shares for roughly $7.87 million, cutting his ownership by about 58%.

Naviter Wealth LLC decreased its holdings in shares of American Tower Corporation (NYSE:AMT - Free Report) by 24.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 24,946 shares of the real estate investment trust's stock after selling 8,041 shares during the period. Naviter Wealth LLC's holdings in American Tower were worth $4,425,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. SOA Wealth Advisors LLC. raised its position 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 purchasing an additional 55 shares during the last quarter. Pines Wealth Management LLC lifted its stake in American Tower by 4.1% in the third quarter. Pines Wealth Management LLC now owns 1,488 shares of the real estate investment trust's stock worth $286,000 after acquiring an additional 58 shares during the period. Pasadena Private Wealth LLC lifted its stake in American Tower by 4.0% in the third quarter. Pasadena Private Wealth LLC now owns 1,544 shares of the real estate investment trust's stock worth $297,000 after acquiring an additional 60 shares during the period. Conscious Wealth Investments LLC lifted its stake in American Tower by 0.5% in the third quarter. Conscious Wealth Investments LLC now owns 11,852 shares of the real estate investment trust's stock worth $2,121,000 after acquiring an additional 60 shares during the period. Finally, Dynamic Wealth Strategies LLC lifted its stake in American Tower by 19.9% in the third quarter. Dynamic Wealth Strategies LLC now owns 367 shares of the real estate investment trust's stock worth $71,000 after acquiring an additional 61 shares during the period. Institutional investors own 92.69% of the company's stock.

American Tower Trading Down 1.3%

American Tower stock opened at $173.90 on Wednesday. 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 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 3.27. The business's fifty day simple moving average is $180.82 and its two-hundred day simple moving average is $181.35. The company has a market capitalization of $81.05 billion, a price-to-earnings ratio of 32.26, a price-to-earnings-growth ratio of 0.73 and a beta of 0.92.

American Tower (NYSE:AMT - Get Free Report) last posted its quarterly earnings results on Tuesday, February 24th. The real estate investment trust reported $1.75 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.54 by ($0.79). The company had revenue of $2.74 billion during the quarter, compared to analysts' expectations of $2.69 billion. American Tower had a return on equity of 24.36% and a net margin of 23.76%.American Tower's revenue for the quarter was up 7.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.62 EPS. American Tower has set its FY 2026 guidance at 10.780-10.950 EPS. As a group, equities analysts predict that American Tower Corporation will post 10.14 earnings per share for the current fiscal year.

American Tower Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 28th. Stockholders of record on Tuesday, April 14th will be given a $1.79 dividend. The ex-dividend date of this dividend is Tuesday, April 14th. This represents a $7.16 annualized dividend and a dividend yield of 4.1%. This is a boost from American Tower's previous quarterly dividend of $1.70. American Tower's payout ratio is presently 126.16%.

Insider Activity

In related news, COO Eugene M. Noel sold 41,209 shares of the stock in a transaction 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 sale, the chief operating officer directly owned 29,592 shares of the company's stock, valued at $5,653,551.60. This trade represents a 58.20% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Rajesh Kalathur acquired 2,671 shares of the company's stock in a transaction that occurred on Tuesday, March 10th. The shares were acquired at an average cost of $185.30 per share, for a total transaction of $494,936.30. Following the completion of the transaction, the director directly owned 4,936 shares of the company's stock, valued at $914,640.80. The trade was a 117.92% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 0.17% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on AMT. Truist Financial began coverage on American Tower in a research note on Tuesday, March 31st. They issued a "buy" rating and a $205.00 price target for the company. Sanford C. Bernstein began coverage on American Tower in a research note on Thursday, March 5th. They issued a "market perform" rating and a $205.00 price target for the company. UBS Group dropped their price target on American Tower from $254.00 to $248.00 and set a "buy" rating for the company in a research note on Wednesday, February 25th. JPMorgan Chase & Co. dropped their price target on American Tower from $250.00 to $245.00 and set an "overweight" rating for the company in a research note on Monday, January 12th. Finally, Morgan Stanley decreased their price objective on American Tower from $225.00 to $220.00 and set an "overweight" rating for the company in a report on Wednesday, February 25th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat.com, American Tower presently has an average rating of "Moderate Buy" and a consensus target price of $216.76.

American Tower 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.