Bridges Investment Management Inc. Sells 4,502 Shares of American Tower Corporation $AMT

Bridges Investment Management Inc. reduced its stake in American Tower Corporation (NYSE:AMT) by 8.3% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 49,527 shares of the real estate investment trust’s stock after selling 4,502 shares during the period. Bridges Investment Management Inc.’s holdings in American Tower were worth $8,696,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in AMT. Brighton Jones LLC boosted its position in shares of American Tower by 113.0% in the 4th quarter. Brighton Jones LLC now owns 3,966 shares of the real estate investment trust’s stock worth $727,000 after purchasing an additional 2,104 shares during the last quarter. Sivia Capital Partners LLC lifted its holdings in American Tower by 34.3% during the second quarter. Sivia Capital Partners LLC now owns 1,442 shares of the real estate investment trust’s stock worth $319,000 after acquiring an additional 368 shares in the last quarter. United Bank lifted its holdings in American Tower by 12.7% during the second quarter. United Bank now owns 6,488 shares of the real estate investment trust’s stock worth $1,434,000 after acquiring an additional 733 shares in the last quarter. Treasurer of the State of North Carolina lifted its holdings in American Tower by 2.2% during the second quarter. Treasurer of the State of North Carolina now owns 218,511 shares of the real estate investment trust’s stock worth $48,295,000 after acquiring an additional 4,778 shares in the last quarter. Finally, Ieq Capital LLC lifted its holdings in American Tower by 52.2% during the second quarter. Ieq Capital LLC now owns 34,248 shares of the real estate investment trust’s stock worth $7,570,000 after acquiring an additional 11,751 shares in the last quarter. 92.69% of the stock is currently owned by institutional investors.

Insider Activity at American Tower

In other news, EVP Ruth T. Dowling sold 556 shares of the company’s stock in a transaction that occurred on Tuesday, April 28th. The stock was sold at an average price of $178.48, for a total value of $99,234.88. Following the transaction, the executive vice president owned 29,877 shares of the company’s stock, valued at approximately $5,332,446.96. This represents a 1.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Rajesh Kalathur bought 2,671 shares of the firm’s stock in a transaction dated 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 transaction, 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. Additional details regarding this purchase are available in the official SEC disclosure. 0.08% of the stock is currently owned by corporate insiders.

American Tower Trading Down 1.1%

American Tower stock opened at $185.44 on Wednesday. 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 stock has a market capitalization of $86.39 billion, a P/E ratio of 29.96, a PEG ratio of 0.78 and a beta of 0.90. The stock has a 50-day simple moving average of $177.78 and a 200 day simple moving average of $179.38.

American Tower (NYSE:AMT) last posted its earnings results on Tuesday, April 28th. The real estate investment trust reported $2.84 EPS for the quarter, beating the consensus estimate of $1.60 by $1.24. American Tower had a return on equity of 27.79% and a net margin of 26.81%.The company had revenue of $2.74 billion for the quarter, compared to the consensus estimate of $2.66 billion. During the same quarter in the prior year, the business earned $2.75 earnings per share. The firm’s revenue for the quarter was up 6.8% on a year-over-year basis. American Tower has set its FY 2026 guidance at 10.900-11.07 EPS. Analysts expect that American Tower Corporation will post 10.67 earnings per share for the current year.

American Tower Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 13th. Stockholders of record on Friday, June 12th will be given a $1.79 dividend. The ex-dividend date of this dividend is Friday, June 12th. This represents a $7.16 annualized dividend and a dividend yield of 3.9%. American Tower’s dividend payout ratio is presently 115.67%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on AMT shares. TD Cowen reduced their target price on American Tower from $235.00 to $225.00 in a report on Wednesday, February 25th. UBS Group reduced their target price on American Tower from $254.00 to $248.00 and set a “buy” rating on the stock in a report on Wednesday, February 25th. Scotiabank lifted 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. Weiss Ratings upgraded American Tower from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, May 11th. Finally, JPMorgan Chase & Co. reduced their target price on American Tower from $245.00 to $240.00 and set an “overweight” rating on the stock in a report on Wednesday, April 29th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target 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.