Nixon Peabody Trust Co. Sells 30,713 Shares of American Tower Corporation $AMT

Key Points

• Nixon Peabody Trust Co. sharply reduced its American Tower stake by 73% in Q1, selling 30,713 shares and leaving it with 11,336 shares valued at about $1.96 million.
• American Tower reported strong quarterly results, with EPS of $2.84 beating expectations and revenue of $2.74 billion topping estimates; the company also lifted its FY2026 guidance to 10.90–11.07 EPS.
• The REIT announced a quarterly dividend of $1.79 per share payable July 13, which annualizes to $7.16 and yields about 4.3%, though the payout ratio is elevated at 115.67%.

Nixon Peabody Trust Co. decreased its holdings in American Tower Corporation (NYSE:AMT - Free Report) by 73.0% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 11,336 shares of the real estate investment trust's stock after selling 30,713 shares during the quarter. Nixon Peabody Trust Co.'s holdings in American Tower were worth $1,956,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Riverwater Partners LLC increased its stake in shares of American Tower by 3.8% during the fourth quarter. Riverwater Partners LLC now owns 1,536 shares of the real estate investment trust's stock valued at $270,000 after buying an additional 56 shares during the period. Triumph Capital Management lifted its stake in American Tower by 37.3% in the fourth quarter. Triumph Capital Management now owns 206 shares of the real estate investment trust's stock worth $36,000 after acquiring an additional 56 shares during the period. Personal CFO Solutions LLC grew its holdings in American Tower by 3.5% during the 4th quarter. Personal CFO Solutions LLC now owns 1,667 shares of the real estate investment trust's stock worth $293,000 after acquiring an additional 57 shares in the last quarter. Twin City Private Wealth LLC increased its position in American Tower by 0.7% during the 4th quarter. Twin City Private Wealth LLC now owns 7,799 shares of the real estate investment trust's stock valued at $1,382,000 after purchasing an additional 58 shares during the period. Finally, Asset Advisory Group Inc. raised its holdings in shares of American Tower by 3.0% in the 1st quarter. Asset Advisory Group Inc. now owns 2,072 shares of the real estate investment trust's stock valued at $358,000 after purchasing an additional 60 shares in the last quarter. 92.69% of the stock is owned by institutional investors.

Insider Transactions at American Tower

In other American Tower news, EVP Ruth T. Dowling sold 556 shares of the stock in a transaction dated Tuesday, April 28th. The stock was sold at an average price of $178.48, for a total value of $99,234.88. Following the completion of the sale, the executive vice president directly owned 29,877 shares in the company, valued at approximately $5,332,446.96. This trade represents a 1.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.08% of the stock is owned by corporate insiders.

American Tower Price Performance

Shares of AMT opened at $165.84 on Friday. The company has a 50 day moving average of $179.93 and a two-hundred day moving average of $179.30. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 3.07. American Tower Corporation has a twelve month low of $162.27 and a twelve month high of $234.33. The company has a market cap of $77.27 billion, a price-to-earnings ratio of 26.79, a price-to-earnings-growth ratio of 0.69 and a beta of 0.91.

American Tower (NYSE:AMT - Get Free Report) last issued its quarterly earnings results on Tuesday, April 28th. The real estate investment trust reported $2.84 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.60 by $1.24. American Tower had a return on equity of 27.79% and a net margin of 26.81%.The business had revenue of $2.74 billion for the quarter, compared to the consensus estimate of $2.66 billion. During the same period in the prior year, the firm posted $2.75 earnings per share. The business's quarterly revenue was up 6.8% on a year-over-year basis. American Tower has set its FY 2026 guidance at 10.900-11.07 EPS. As a group, analysts predict that American Tower Corporation will post 10.66 earnings per share for the current fiscal year.

American Tower Announces Dividend

The firm 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 dividend of $1.79 per share. This represents a $7.16 annualized dividend and a yield of 4.3%. The ex-dividend date of this dividend is Friday, June 12th. American Tower's dividend payout ratio is currently 115.67%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on AMT shares. Royal Bank Of Canada raised shares of American Tower from a "sector perform" rating to an "outperform" rating and upped their price target for the stock from $195.00 to $205.00 in a research report on Friday, June 26th. Citizens Jmp reissued a "market outperform" rating and issued a $260.00 price objective on shares of American Tower in a research note on Wednesday, April 29th. Scotiabank upped their target price on American Tower from $214.00 to $218.00 and gave the stock an "outperform" rating in a report on Wednesday, April 29th. Sanford C. Bernstein raised American Tower from a "market perform" rating to an "outperform" rating and set a $207.00 target price on the stock in a research report on Tuesday, May 19th. Finally, The Goldman Sachs Group began coverage on American Tower in a report on Friday, June 26th. They issued a "buy" rating and a $215.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $216.95.

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.

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