Kestra Advisory Services LLC Sells 3,071 Shares of American Tower Corporation $AMT

Kestra Advisory Services LLC lowered its holdings in shares of American Tower Corporation (NYSE:AMT) by 10.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,923 shares of the real estate investment trust’s stock after selling 3,071 shares during the period. Kestra Advisory Services LLC’s holdings in American Tower were worth $4,474,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the business. Richards Merrill & Peterson Inc. bought a new position in shares of American Tower during the 4th quarter worth about $25,000. Oakworth Capital Inc. increased its stake in American Tower by 90.7% in the fourth quarter. Oakworth Capital Inc. now owns 143 shares of the real estate investment trust’s stock valued at $25,000 after acquiring an additional 68 shares during the period. Swiss RE Ltd. acquired a new position in American Tower in the fourth quarter worth about $25,000. Holos Integrated Wealth LLC acquired a new position in American Tower in the fourth quarter worth about $27,000. Finally, Triumph Capital Management bought a new position in American Tower during the third quarter worth about $29,000. Institutional investors and hedge funds own 92.69% of the company’s stock.

American Tower Trading Up 0.1%

Shares of AMT opened at $168.87 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. The company has a market cap of $78.68 billion, a price-to-earnings ratio of 27.28, a PEG ratio of 0.70 and a beta of 0.91. The stock has a fifty day moving average price of $177.77 and a two-hundred day moving average price of $178.76. American Tower Corporation has a 52-week low of $160.06 and a 52-week high of $234.33.

American Tower (NYSE:AMT) last announced 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 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 analysts’ expectations of $2.66 billion. During the same quarter in the prior year, the business earned $2.75 earnings per share. The business’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 predict that American Tower Corporation will post 10.66 EPS for the current fiscal year.

American Tower Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 13th. Shareholders of record on Friday, June 12th were given a $1.79 dividend. This represents a $7.16 annualized dividend and a yield of 4.2%. The ex-dividend date was Friday, June 12th. American Tower’s dividend payout ratio (DPR) is presently 115.67%.

Analysts Set New Price Targets

A number of research firms have weighed in on AMT. The Goldman Sachs Group assumed coverage on American Tower in a report on Friday, June 26th. They set a “buy” rating and a $215.00 price objective on the stock. Truist Financial raised their target price on American Tower from $205.00 to $208.00 and gave the stock a “buy” rating in a research report on Thursday, April 30th. Jefferies Financial Group boosted their price target on American Tower from $209.00 to $210.00 and gave the company a “buy” rating in a research note on Tuesday, April 14th. Sanford C. Bernstein upgraded American Tower from a “market perform” rating to an “outperform” rating and set a $207.00 price target on the stock in a research report on Tuesday, May 19th. Finally, Barclays dropped their price objective on American Tower from $200.00 to $195.00 and set an “equal weight” rating for the company in a research note on Thursday, April 16th. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $215.57.

Insiders Place Their Bets

In other American Tower news, EVP Ruth T. Dowling sold 416 shares of the business’s stock in a transaction dated Wednesday, April 29th. The shares were sold at an average price of $177.54, for a total value of $73,856.64. Following the completion of the transaction, the executive vice president directly owned 29,461 shares of the company’s stock, valued at approximately $5,230,505.94. The trade was a 1.39% 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.