O Shaughnessy Asset Management LLC Lowers Position in American Tower Corporation $AMT

O Shaughnessy Asset Management LLC lessened its stake in American Tower Corporation (NYSE:AMT - Free Report) by 28.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 77,553 shares of the real estate investment trust's stock after selling 30,091 shares during the quarter. O Shaughnessy Asset Management LLC's holdings in American Tower were worth $13,616,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Northwestern Mutual Wealth Management Co. raised its position in American Tower by 20,721.6% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 9,712,672 shares of the real estate investment trust's stock valued at $1,705,254,000 after buying an additional 9,666,025 shares during the last quarter. Norges Bank purchased a new position in American Tower during the 4th quarter worth $1,171,180,000. Lazard Asset Management LLC grew its stake in shares of American Tower by 1,984.8% in the 3rd quarter. Lazard Asset Management LLC now owns 4,464,382 shares of the real estate investment trust's stock worth $858,552,000 after acquiring an additional 4,250,242 shares in the last quarter. Capital International Investors grew its stake in shares of American Tower by 157.0% in the 4th quarter. Capital International Investors now owns 3,871,368 shares of the real estate investment trust's stock worth $679,696,000 after acquiring an additional 2,364,898 shares in the last quarter. Finally, Viking Global Investors LP raised its holdings in shares of American Tower by 233.5% in the second quarter. Viking Global Investors LP now owns 2,797,125 shares of the real estate investment trust's stock valued at $618,221,000 after purchasing an additional 1,958,329 shares during the last quarter. Hedge funds and other institutional investors own 92.69% of the company's stock.

Insider Transactions at American Tower

In other American Tower news, EVP Ruth T. Dowling sold 416 shares of the business's stock in a transaction on Wednesday, April 29th. The stock was sold at an average price of $177.54, for a total value of $73,856.64. Following the sale, the executive vice president directly owned 29,461 shares in the company, valued at $5,230,505.94. The trade was a 1.39% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available 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.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Sanford C. Bernstein upgraded shares of American Tower from a "market perform" rating to an "outperform" rating and set a $207.00 price target on the stock in a report on Tuesday, May 19th. Royal Bank Of Canada reiterated a "sector perform" rating and issued a $195.00 price objective on shares of American Tower in a research note on Thursday, April 30th. JPMorgan Chase & Co. dropped their target price on shares of American Tower from $245.00 to $240.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 29th. Truist Financial boosted their target price on American Tower from $205.00 to $208.00 and gave the stock a "buy" rating in a research note on Thursday, April 30th. Finally, Citizens Jmp reaffirmed a "market outperform" rating and set a $260.00 price target on shares of American Tower in a research report on Wednesday, April 29th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $216.20.

American Tower Stock Performance

Shares of AMT stock opened at $190.67 on Wednesday. The company has a debt-to-equity ratio of 3.07, a quick ratio of 0.43 and a current ratio of 0.43. The firm has a market cap of $88.83 billion, a price-to-earnings ratio of 30.80, a P/E/G ratio of 0.79 and a beta of 0.90. American Tower Corporation has a 52 week low of $165.08 and a 52 week high of $234.33. The firm's 50-day simple moving average is $179.90 and its two-hundred day simple moving average is $179.70.

American Tower (NYSE:AMT - Get Free Report) last released its earnings results on Tuesday, April 28th. The real estate investment trust reported $2.84 earnings per share for the quarter, beating analysts' consensus estimates of $1.60 by $1.24. The firm had revenue of $2.74 billion during 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 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 forecast that American Tower Corporation will post 10.67 earnings per share for the current year.

American Tower Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, July 13th. Shareholders of record on Friday, June 12th will be given a $1.79 dividend. This represents a $7.16 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date of this dividend is Friday, June 12th. American Tower's dividend payout ratio (DPR) is currently 115.67%.

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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