Y Intercept Hong Kong Ltd Lowers Stake in American Tower Corporation $AMT

Y Intercept Hong Kong Ltd reduced its stake in shares of American Tower Corporation (NYSE:AMT) by 67.3% in the first quarter, according to its most recent filing with the SEC. The fund owned 29,807 shares of the real estate investment trust’s stock after selling 61,341 shares during the period. Y Intercept Hong Kong Ltd’s holdings in American Tower were worth $5,144,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Brighton Jones LLC raised its holdings in shares of American Tower by 113.0% during the 4th quarter. Brighton Jones LLC now owns 3,966 shares of the real estate investment trust’s stock valued at $727,000 after buying an additional 2,104 shares in the last quarter. Sivia Capital Partners LLC boosted its stake in American Tower by 34.3% in the second quarter. Sivia Capital Partners LLC now owns 1,442 shares of the real estate investment trust’s stock worth $319,000 after buying an additional 368 shares in the last quarter. United Bank boosted its stake in American Tower by 12.7% in the second quarter. United Bank now owns 6,488 shares of the real estate investment trust’s stock worth $1,434,000 after buying an additional 733 shares in the last quarter. Treasurer of the State of North Carolina grew its position 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 valued at $48,295,000 after acquiring an additional 4,778 shares during the last quarter. Finally, Ieq Capital LLC grew its position 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 valued at $7,570,000 after acquiring an additional 11,751 shares during the last quarter. Institutional investors own 92.69% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on AMT. JPMorgan Chase & Co. lowered their price objective on shares of American Tower from $245.00 to $240.00 and set an “overweight” rating for the company in a report on Wednesday, April 29th. Sanford C. Bernstein raised shares of American Tower from a “market perform” rating to an “outperform” rating and set a $207.00 target price on the stock in a report on Tuesday, May 19th. Truist Financial lifted their target price 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. Mizuho raised shares of American Tower from a “neutral” rating to an “outperform” rating and boosted their price target for the stock from $189.00 to $205.00 in a research note on Wednesday, April 15th. Finally, Raymond James Financial restated a “strong-buy” rating and set a $240.00 price target on shares of American Tower in a research report on Wednesday, April 29th. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, American Tower has a consensus rating of “Moderate Buy” and a consensus price target of $216.95.

American Tower Stock Performance

NYSE:AMT opened at $165.84 on Friday. The company has a debt-to-equity ratio of 3.07, a quick ratio of 0.43 and a current ratio of 0.43. American Tower Corporation has a fifty-two week low of $162.27 and a fifty-two week high of $234.33. The firm has a market cap of $77.27 billion, a PE ratio of 26.79, a price-to-earnings-growth ratio of 0.69 and a beta of 0.91. The business has a 50 day moving average price of $179.93 and a 200-day moving average price of $179.30.

American Tower (NYSE:AMT) last issued its earnings results on Tuesday, April 28th. The real estate investment trust reported $2.84 EPS for the quarter, topping the consensus estimate of $1.60 by $1.24. American Tower had a net margin of 26.81% and a return on equity of 27.79%. The company had revenue of $2.74 billion for the quarter, compared to the consensus estimate of $2.66 billion. During the same period in the previous year, the firm 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. Equities research analysts predict that American Tower Corporation will post 10.66 earnings per share for the current year.

American Tower Announces Dividend

The company also recently disclosed 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. The ex-dividend date is Friday, June 12th. This represents a $7.16 dividend on an annualized basis and a dividend yield of 4.3%. American Tower’s payout ratio is presently 115.67%.

Insider Activity

In other news, EVP Ruth T. Dowling sold 556 shares of the company’s stock in a transaction dated Tuesday, April 28th. The shares were sold at an average price of $178.48, for a total transaction of $99,234.88. Following the completion of the transaction, the executive vice president directly 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 sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 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.