State of Michigan Retirement System Sells 12,300 Shares of American Tower Corporation $AMT

Key Points

• State of Michigan Retirement System cut its stake in American Tower by 9.1%, selling 12,300 shares and retaining 122,584 shares valued at about $21.52 million per its latest 13F filing.
• American Tower reported an EPS miss for the quarter ($1.75 vs. $2.54 expected) but revenue rose 7.5% to $2.74 billion and management set FY2026 guidance of $10.78–$10.95 EPS; the stock trades well below analysts' average target of $217.33.
• The company increased its quarterly dividend to $1.79 ($7.16 annualized, ~4.1% yield, ex-dividend Apr 14), and insiders showed mixed activity with COO Eugene Noel selling 41,209 shares (~$7.87M) while a director purchased 2,671 shares.

State of Michigan Retirement System lowered its position in shares of American Tower Corporation (NYSE:AMT - Free Report) by 9.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 122,584 shares of the real estate investment trust's stock after selling 12,300 shares during the period. State of Michigan Retirement System's holdings in American Tower were worth $21,522,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. SOA Wealth Advisors LLC. increased its position in shares of American Tower by 36.7% during the third quarter. SOA Wealth Advisors LLC. now owns 205 shares of the real estate investment trust's stock valued at $39,000 after acquiring an additional 55 shares in the last quarter. Personal CFO Solutions LLC increased its position in shares of American Tower by 3.5% during the fourth quarter. Personal CFO Solutions LLC now owns 1,667 shares of the real estate investment trust's stock valued at $293,000 after acquiring an additional 57 shares in the last quarter. Pines Wealth Management LLC increased its position in shares of American Tower by 4.1% during the third quarter. Pines Wealth Management LLC now owns 1,488 shares of the real estate investment trust's stock valued at $286,000 after acquiring an additional 58 shares in the last quarter. Pasadena Private Wealth LLC increased its position in shares of American Tower by 4.0% during the third quarter. Pasadena Private Wealth LLC now owns 1,544 shares of the real estate investment trust's stock valued at $297,000 after acquiring an additional 60 shares in the last quarter. Finally, Conscious Wealth Investments LLC lifted its position in American Tower by 0.5% during the third quarter. Conscious Wealth Investments LLC now owns 11,852 shares of the real estate investment trust's stock valued at $2,121,000 after purchasing an additional 60 shares during the period. Institutional investors own 92.69% of the company's stock.

American Tower Stock Down 1.6%

AMT stock opened at $175.33 on Tuesday. The business's 50-day moving average is $180.54 and its two-hundred day moving average is $180.11. The company has a debt-to-equity ratio of 3.27, a quick ratio of 0.60 and a current ratio of 0.60. The company has a market cap of $81.72 billion, a price-to-earnings ratio of 32.53, a P/E/G ratio of 0.75 and a beta of 0.92. American Tower Corporation has a fifty-two week low of $165.08 and a fifty-two week high of $234.33.

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). The business had revenue of $2.74 billion for the quarter, compared to the consensus estimate of $2.69 billion. American Tower had a net margin of 23.76% and a return on equity of 24.36%. The business's quarterly revenue was up 7.5% compared to the same quarter last year. During the same quarter last year, the firm posted $2.62 earnings per share. American Tower has set its FY 2026 guidance at 10.780-10.950 EPS. As a group, analysts forecast that American Tower Corporation will post 10.59 earnings per share for the current year.

American Tower Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 28th. Investors of record on Tuesday, April 14th will be given a dividend of $1.79 per share. This represents a $7.16 annualized dividend and a yield of 4.1%. 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 presently 132.84%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Mizuho upgraded shares of American Tower from a "neutral" rating to an "outperform" rating and increased their price objective for the company from $189.00 to $205.00 in a research report on Wednesday, April 15th. 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. Weiss Ratings restated a "hold (c)" rating on shares of American Tower in a research note on Monday, December 29th. Truist Financial began coverage on American Tower in a report on Tuesday, March 31st. They issued a "buy" rating and a $205.00 price objective for the company. Finally, Royal Bank Of Canada reduced their price objective on American Tower from $220.00 to $195.00 and set a "sector perform" rating for the company in a research report on Monday, January 12th. Two investment 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. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $217.33.

Insider Activity at American Tower

In related news, COO Eugene M. Noel sold 41,209 shares of the business's stock in a transaction that occurred on 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 directly owned 29,592 shares in the company, valued at approximately $5,653,551.60. The trade was a 58.20% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Rajesh Kalathur bought 2,671 shares of the business's stock in a transaction that occurred on Tuesday, March 10th. The shares were acquired at an average price of $185.30 per share, with a total value of $494,936.30. Following the completion of the transaction, the director directly owned 4,936 shares of the company's stock, valued at $914,640.80. This trade represents a 117.92% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 0.08% of the company's stock.

About American Tower

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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