Ninety One UK Ltd Trims Stock Position in American Tower Corporation $AMT

Key Points

• Ninety One UK Ltd cut its stake in American Tower by 81.8% in Q4, selling 137,398 shares and leaving 30,581 shares worth about $5.37 million, while institutional investors own roughly 92.69% of AMT.
• Several analysts have trimmed price targets (e.g., Goldman Sachs, UBS, Raymond James), leaving a consensus "Moderate Buy" with an average target of $217.33, as the company reported an earnings miss (EPS $1.75 vs. est. $2.54) despite a slight revenue beat.
• Insider activity and payout update: Director Rajesh Kalathur bought 2,671 shares at $185.30 while COO Eugene Noel sold 41,209 shares at $191.05, and American Tower raised its quarterly dividend to $1.79 (annualized $7.16, ~3.9% yield).

Ninety One UK Ltd lessened its holdings in shares of American Tower Corporation (NYSE:AMT - Free Report) by 81.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 30,581 shares of the real estate investment trust's stock after selling 137,398 shares during the period. Ninety One UK Ltd's holdings in American Tower were worth $5,369,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in AMT. Brighton Jones LLC raised its holdings in shares of American Tower by 113.0% during the fourth quarter. Brighton Jones LLC now owns 3,966 shares of the real estate investment trust's stock worth $727,000 after purchasing an additional 2,104 shares during the last quarter. Sivia Capital Partners LLC grew its position in American Tower by 34.3% during the second quarter. Sivia Capital Partners LLC now owns 1,442 shares of the real estate investment trust's stock valued at $319,000 after buying an additional 368 shares during the period. United Bank grew its position in American Tower by 12.7% during the second quarter. United Bank now owns 6,488 shares of the real estate investment trust's stock valued at $1,434,000 after buying an additional 733 shares during the period. Treasurer of the State of North Carolina grew its position in American Tower by 2.2% during the second quarter. Treasurer of the State of North Carolina now owns 218,511 shares of the real estate investment trust's stock valued at $48,295,000 after buying an additional 4,778 shares during the period. Finally, Ieq Capital LLC grew its position in American Tower by 52.2% during the second quarter. Ieq Capital LLC now owns 34,248 shares of the real estate investment trust's stock valued at $7,570,000 after buying an additional 11,751 shares during the period. Hedge funds and other institutional investors own 92.69% of the company's stock.

Analysts Set New Price Targets

Several research firms recently commented on AMT. Raymond James Financial dropped their price target on shares of American Tower from $231.00 to $229.00 and set a "strong-buy" rating on the stock in a research report on Friday, January 23rd. TD Cowen dropped their price target on shares of American Tower from $235.00 to $225.00 in a research report on Wednesday, February 25th. The Goldman Sachs Group dropped their price target on shares of American Tower from $230.00 to $210.00 and set a "buy" rating on the stock in a research report on Friday, January 16th. UBS Group dropped their price target on shares of American Tower from $254.00 to $248.00 and set a "buy" rating on the stock in a research report on Wednesday, February 25th. Finally, Weiss Ratings restated a "hold (c)" rating on shares of American Tower in a research report on Monday, December 29th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and six have given a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $217.33.

Insider Activity

In related news, Director Rajesh Kalathur bought 2,671 shares of the company's stock in a transaction dated Tuesday, March 10th. The shares were acquired at an average price 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 in the company, valued at $914,640.80. This trade represents a 117.92% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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 transaction of $7,872,979.45. Following the completion of the sale, the chief operating officer owned 29,592 shares in the company, valued at approximately $5,653,551.60. This trade represents a 58.20% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.17% of the stock is owned by company insiders.

American Tower Stock Up 2.2%

Shares of NYSE AMT opened at $182.60 on Friday. The company's 50-day simple moving average is $181.34 and its 200-day simple moving average is $180.61. American Tower Corporation has a 52-week low of $165.08 and a 52-week high of $234.33. The firm has a market cap of $85.11 billion, a price-to-earnings ratio of 33.88, a price-to-earnings-growth ratio of 0.75 and a beta of 0.92. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 3.27.

American Tower (NYSE:AMT - Get Free Report) last announced its 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). American Tower had a net margin of 23.76% and a return on equity of 24.36%. The company had revenue of $2.74 billion during the quarter, compared to analyst estimates of $2.69 billion. During the same quarter last year, the business earned $2.62 EPS. The firm's revenue for the quarter was up 7.5% compared to the same quarter last year. American Tower has set its FY 2026 guidance at 10.780-10.950 EPS. Equities analysts predict that American Tower Corporation will post 10.14 EPS for the current fiscal year.

American Tower Increases Dividend

The business also recently announced 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. This represents a $7.16 annualized dividend and a dividend yield of 3.9%. This is a positive change from American Tower's previous quarterly dividend of $1.70. The ex-dividend date is Tuesday, April 14th. American Tower's dividend payout ratio (DPR) is 132.84%.

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.