Klingenstein Fields & Co. LP Lowers Position in American Tower Corporation $AMT

Klingenstein Fields & Co. LP lessened its position in American Tower Corporation (NYSE:AMT) by 66.4% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 45,400 shares of the real estate investment trust’s stock after selling 89,583 shares during the quarter. Klingenstein Fields & Co. LP’s holdings in American Tower were worth $7,971,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Oakworth Capital Inc. lifted its stake in shares of American Tower by 90.7% in the 4th quarter. Oakworth Capital Inc. now owns 143 shares of the real estate investment trust’s stock valued at $25,000 after purchasing an additional 68 shares during the period. Richards Merrill & Peterson Inc. purchased a new position in shares of American Tower in the 4th quarter valued at approximately $25,000. Swiss RE Ltd. purchased a new position in shares of American Tower in the 4th quarter valued at approximately $25,000. Triumph Capital Management purchased a new position in shares of American Tower in the 3rd quarter valued at approximately $29,000. Finally, Holos Integrated Wealth LLC purchased a new position in shares of American Tower in the 4th quarter valued at approximately $27,000. Hedge funds and other institutional investors own 92.69% of the company’s stock.

American Tower Stock Down 1.1%

American Tower stock opened at $187.20 on Friday. The firm has a market cap of $87.22 billion, a price-to-earnings ratio of 30.24, a PEG ratio of 0.79 and a beta of 0.90. The stock has a fifty day simple moving average of $181.01 and a two-hundred day simple moving average of $179.92. American Tower Corporation has a 12 month low of $165.08 and a 12 month high of $234.33. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 3.07.

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, topping analysts’ consensus estimates of $1.60 by $1.24. The business had revenue of $2.74 billion during the quarter, compared to analyst estimates of $2.66 billion. American Tower had a return on equity of 27.79% and a net margin of 26.81%.The company’s quarterly revenue was up 6.8% compared to the same quarter last year. During the same quarter last year, the company earned $2.75 EPS. American Tower has set its FY 2026 guidance at 10.900-11.07 EPS. Equities analysts predict that American Tower Corporation will post 10.67 EPS for the current fiscal year.

American Tower Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 13th. Shareholders of record on Friday, June 12th will be issued a $1.79 dividend. The ex-dividend date of this dividend is Friday, June 12th. This represents a $7.16 dividend on an annualized basis and a dividend yield of 3.8%. American Tower’s dividend payout ratio (DPR) is presently 115.67%.

Insider Activity at American Tower

In other American Tower news, EVP Ruth T. Dowling sold 416 shares of American Tower stock in a transaction on Wednesday, April 29th. The stock was sold at an average price of $177.54, for a total value of $73,856.64. Following the completion of the sale, the executive vice president owned 29,461 shares of the company’s stock, valued at approximately $5,230,505.94. This trade represents a 1.39% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.08% of the company’s stock.

Wall Street Analyst Weigh In

AMT has been the subject of a number of research analyst reports. JPMorgan Chase & Co. lowered their target price on American Tower from $245.00 to $240.00 and set an “overweight” rating for the company in a research note on Wednesday, April 29th. Citizens Jmp reiterated a “market outperform” rating and set a $260.00 price objective on shares of American Tower in a research note on Wednesday, April 29th. Truist Financial lifted their price objective on American Tower from $205.00 to $208.00 and gave the company a “buy” rating in a research note on Thursday, April 30th. Raymond James Financial reiterated a “strong-buy” rating and set a $240.00 price objective on shares of American Tower in a research note on Wednesday, April 29th. Finally, TD Cowen lowered their price objective on American Tower from $235.00 to $225.00 in a research note on Wednesday, February 25th. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price 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.