Prudential PLC Sells 8,260 Shares of American Tower Corporation $AMT

Key Points

• Prudential PLC reduced its American Tower stake by 7.5% in the fourth quarter, selling 8,260 shares and leaving it with 101,965 shares valued at about $17.9 million.
• American Tower reported strong quarterly results, with EPS of $2.84 topping estimates and revenue of $2.74 billion, while also raising FY 2026 guidance to 10.90–11.07 EPS.
• The company announced a quarterly dividend of $1.79 per share, payable July 13, for an annualized yield of 3.7%; analysts currently rate the stock a “Moderate Buy” with an average target price of $216.20.

Prudential PLC cut its stake in shares of American Tower Corporation (NYSE:AMT - Free Report) by 7.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 101,965 shares of the real estate investment trust's stock after selling 8,260 shares during the quarter. Prudential PLC's holdings in American Tower were worth $17,902,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Krilogy Financial LLC bought a new stake in American Tower during the 3rd quarter worth approximately $1,044,000. ABC Arbitrage SA bought a new stake in American Tower during the 3rd quarter worth approximately $4,093,000. BI Asset Management Fondsmaeglerselskab A S grew its holdings in American Tower by 4.9% during the 3rd quarter. BI Asset Management Fondsmaeglerselskab A S now owns 181,053 shares of the real estate investment trust's stock worth $34,820,000 after acquiring an additional 8,466 shares during the last quarter. ING Groep NV grew its holdings in American Tower by 5,413.1% during the 3rd quarter. ING Groep NV now owns 60,534 shares of the real estate investment trust's stock worth $11,642,000 after acquiring an additional 59,436 shares during the last quarter. Finally, Azzad Asset Management Inc. ADV grew its holdings in American Tower by 60.2% during the 3rd quarter. Azzad Asset Management Inc. ADV now owns 8,577 shares of the real estate investment trust's stock worth $1,649,000 after acquiring an additional 3,224 shares during the last quarter. 92.69% of the stock is owned by institutional investors.

American Tower Stock Up 6.6%

Shares of NYSE AMT opened at $194.34 on Friday. The company has a market capitalization of $90.54 billion, a P/E ratio of 31.40, a price-to-earnings-growth ratio of 0.76 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 company has a debt-to-equity ratio of 3.07, a quick ratio of 0.43 and a current ratio of 0.43. The company's 50 day moving average price is $178.55 and its 200-day moving average price is $179.48.

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. The firm had revenue of $2.74 billion for 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 for the quarter was up 6.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.75 EPS. American Tower has set its FY 2026 guidance at 10.900-11.07 EPS. Equities analysts forecast that American Tower Corporation will post 10.67 earnings per share for the current year.

American Tower Dividend Announcement

The business 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 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date is Friday, June 12th. American Tower's payout ratio is presently 115.67%.

Insiders Place Their Bets

In related news, EVP Ruth T. Dowling sold 556 shares of the business's stock in a transaction on Tuesday, April 28th. The shares were sold at an average price of $178.48, for a total transaction of $99,234.88. Following the transaction, the executive vice president owned 29,877 shares in the company, valued at $5,332,446.96. The trade was a 1.83% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Rajesh Kalathur bought 2,671 shares of the company's stock in a transaction that occurred on Tuesday, March 10th. The shares were bought at an average price of $185.30 per share, for a total transaction of $494,936.30. Following 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. Additional details regarding this purchase are available in the official SEC disclosure. 0.08% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. Citizens Jmp reissued a "market outperform" rating and set a $260.00 target price on shares of American Tower in a report on Wednesday, April 29th. Jefferies Financial Group boosted their target price on shares of American Tower from $209.00 to $210.00 and gave the stock a "buy" rating in a report on Tuesday, April 14th. Truist Financial boosted their price target on shares of American Tower from $205.00 to $208.00 and gave the stock a "buy" rating in a research report on Thursday, April 30th. 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, Scotiabank boosted their price target on shares of American Tower from $214.00 to $218.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 29th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $216.20.

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.

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