Intech Investment Management LLC Cuts Position in American Tower Corporation $AMT

Intech Investment Management LLC lowered its holdings in American Tower Corporation (NYSE:AMT) by 15.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 19,219 shares of the real estate investment trust’s stock after selling 3,585 shares during the period. Intech Investment Management LLC’s holdings in American Tower were worth $3,696,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Legacy Investment Solutions LLC bought a new position in American Tower during the second quarter valued at $31,000. Abound Wealth Management grew its stake in shares of American Tower by 137.3% during the 3rd quarter. Abound Wealth Management now owns 140 shares of the real estate investment trust’s stock worth $27,000 after acquiring an additional 81 shares during the period. VSM Wealth Advisory LLC increased its holdings in American Tower by 136.4% in the 2nd quarter. VSM Wealth Advisory LLC now owns 156 shares of the real estate investment trust’s stock worth $34,000 after acquiring an additional 90 shares during the last quarter. Root Financial Partners LLC purchased a new position in shares of American Tower in the third quarter worth about $32,000. Finally, Westside Investment Management Inc. grew its stake in American Tower by 103.6% in the 3rd quarter. Westside Investment Management Inc. now owns 169 shares of the real estate investment trust’s stock valued at $33,000 after buying an additional 86 shares in the last quarter. 92.69% of the stock is owned by institutional investors.

American Tower Price Performance

Shares of American Tower stock opened at $191.72 on Monday. The company has a debt-to-equity ratio of 3.27, a current ratio of 0.60 and a quick ratio of 0.60. American Tower Corporation has a one year low of $166.88 and a one year high of $234.33. The business’s 50 day simple moving average is $179.11 and its two-hundred day simple moving average is $185.40. The stock has a market capitalization of $89.76 billion, a P/E ratio of 35.57, a price-to-earnings-growth ratio of 0.81 and a beta of 0.92.

American Tower (NYSE:AMT) last issued 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). American Tower had a return on equity of 24.36% and a net margin of 23.76%.The firm had revenue of $2.74 billion during the quarter, compared to the consensus estimate of $2.69 billion. During the same quarter in the prior year, the business posted $2.62 EPS. The firm’s revenue for the quarter was up 7.5% on a year-over-year basis. American Tower has set its FY 2026 guidance at 10.780-10.950 EPS. Analysts forecast that American Tower Corporation will post 10.14 EPS for the current year.

American Tower Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, February 2nd. Stockholders of record on Monday, December 29th were issued a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date was Monday, December 29th. American Tower’s dividend payout ratio is currently 126.16%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Jefferies Financial Group upped their price target on American Tower from $200.00 to $209.00 and gave the company a “buy” rating in a research report on Thursday. TD Cowen dropped their price target on American Tower from $235.00 to $225.00 in a research note on Wednesday, February 25th. UBS Group reduced their price objective on American Tower from $254.00 to $248.00 and set a “buy” rating on the stock in a research report on Wednesday, February 25th. Morgan Stanley dropped their target price on American Tower from $225.00 to $220.00 and set an “overweight” rating for the company in a research report on Wednesday, February 25th. Finally, Scotiabank cut their target price on American Tower from $220.00 to $214.00 and set a “sector outperform” rating for the company in a research note on Wednesday, February 25th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $218.00.

Insiders Place Their Bets

In other news, major shareholder Tower Corp /Ma/ American sold 2,288,621 shares of American Tower stock in a transaction that occurred on Tuesday, December 9th. The stock was sold at an average price of $69.75, for a total value of $159,631,314.75. Following the sale, the insider directly owned 211,379 shares in the company, valued at approximately $14,743,685.25. This trade represents a 91.54% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.18% of the company’s stock.

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.