Osborne Partners Capital Management LLC Reduces Holdings in American Tower Corporation $AMT

Key Points

• Osborne Partners cut its stake in American Tower by 84.3% in Q4, selling 7,002 shares and leaving it with 1,300 shares worth about $228,000.
• American Tower missed quarterly EPS expectations at $1.75 (est. $2.54) while revenue rose 7.5% to $2.74 billion, and the company issued FY2026 EPS guidance of 10.780–10.950 (analysts expect ~10.59).
• The company raised its quarterly dividend to $1.79 (annualized $7.16) for a ~4.1% yield, and the stock carries a MarketBeat consensus rating of "Moderate Buy" with a $217.33 target.

Osborne Partners Capital Management LLC trimmed its position in shares of American Tower Corporation (NYSE:AMT - Free Report) by 84.3% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,300 shares of the real estate investment trust's stock after selling 7,002 shares during the quarter. Osborne Partners Capital Management LLC's holdings in American Tower were worth $228,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in American Tower by 1.0% during the third quarter. Vanguard Group Inc. now owns 63,640,168 shares of the real estate investment trust's stock worth $12,239,277,000 after buying an additional 611,801 shares during the period. Invesco Ltd. boosted its stake in American Tower by 3.1% during the third quarter. Invesco Ltd. now owns 6,888,633 shares of the real estate investment trust's stock worth $1,324,822,000 after buying an additional 208,109 shares during the period. Capital Research Global Investors boosted its stake in American Tower by 0.3% during the third quarter. Capital Research Global Investors now owns 4,924,771 shares of the real estate investment trust's stock worth $947,132,000 after buying an additional 15,145 shares during the period. Legal & General Group Plc boosted its stake in American Tower by 3.5% during the third quarter. Legal & General Group Plc now owns 4,653,248 shares of the real estate investment trust's stock worth $894,913,000 after buying an additional 159,223 shares during the period. Finally, Lazard Asset Management LLC boosted its stake in American Tower by 1,984.8% during the third quarter. Lazard Asset Management LLC now owns 4,464,382 shares of the real estate investment trust's stock worth $858,552,000 after buying an additional 4,250,242 shares during the period. 92.69% of the stock is owned by hedge funds and other institutional investors.

American Tower Stock Down 3.9%

Shares of AMT opened at $174.59 on Wednesday. The firm has a market capitalization of $81.37 billion, a P/E ratio of 32.39, a P/E/G ratio of 0.76 and a beta of 0.92. 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 firm has a fifty day moving average price of $181.42 and a 200-day moving average price of $180.34.

American Tower (NYSE:AMT - Get Free Report) last issued its earnings results on Tuesday, February 24th. The real estate investment trust reported $1.75 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.54 by ($0.79). The company had revenue of $2.74 billion for the quarter, compared to analysts' expectations of $2.69 billion. American Tower had a net margin of 23.76% and a return on equity of 24.36%. The firm'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 posted $2.62 earnings per share. American Tower has set its FY 2026 guidance at 10.780-10.950 EPS. Equities research analysts expect that American Tower Corporation will post 10.59 earnings per share for the current year.

American Tower Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 28th. Investors of record on Tuesday, April 14th will be issued a $1.79 dividend. The ex-dividend date is Tuesday, April 14th. This is an increase from American Tower's previous quarterly dividend of $1.70. This represents a $7.16 annualized dividend and a dividend yield of 4.1%. American Tower's dividend payout ratio is presently 132.84%.

Analyst Ratings Changes

Several research analysts have commented on the stock. TD Cowen dropped their price objective on shares of American Tower from $235.00 to $225.00 in a research note on Wednesday, February 25th. UBS Group lowered their target price on shares of 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. lowered their target price on shares of American Tower from $250.00 to $245.00 and set an "overweight" rating for the company in a research note on Monday, January 12th. Jefferies Financial Group boosted their target price on shares of American Tower from $209.00 to $210.00 and gave the company a "buy" rating in a research note on Tuesday, April 14th. Finally, The Goldman Sachs Group lowered their target price on shares of American Tower from $230.00 to $210.00 and set a "buy" rating for the company in a research note on Friday, January 16th. Two analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and six have given a Hold rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $217.33.

Insider Activity

In other news, Director Rajesh Kalathur acquired 2,671 shares of the firm's stock in a transaction that occurred on Tuesday, March 10th. The stock was purchased at an average cost of $185.30 per share, for a total transaction of $494,936.30. Following the completion of the acquisition, 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 position. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. 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 value of $7,872,979.45. Following the completion of the sale, the chief operating officer owned 29,592 shares of the company's stock, valued at $5,653,551.60. The trade was a 58.20% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.18% of the company's stock.

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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