Loring Wolcott & Coolidge Fiduciary Advisors LLP MA Sells 64,631 Shares of American Tower Corporation $AMT

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lessened its position in American Tower Corporation (NYSE:AMT) by 5.7% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,066,781 shares of the real estate investment trust’s stock after selling 64,631 shares during the quarter. American Tower makes up about 1.7% of Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s holdings, making the stock its 19th biggest holding. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA owned 0.23% of American Tower worth $174,795,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Raleigh Capital Management Inc. lifted its stake in American Tower by 489.1% in the 1st quarter. Raleigh Capital Management Inc. now owns 13,703 shares of the real estate investment trust’s stock worth $2,365,000 after acquiring an additional 11,377 shares in the last quarter. Canal Capital Management LLC grew its stake in American Tower by 81.9% during the 1st quarter. Canal Capital Management LLC now owns 34,471 shares of the real estate investment trust’s stock valued at $5,949,000 after acquiring an additional 15,520 shares in the last quarter. Bernzott Capital Advisors grew its stake in American Tower by 29.3% during the 1st quarter. Bernzott Capital Advisors now owns 42,161 shares of the real estate investment trust’s stock valued at $7,276,000 after acquiring an additional 9,556 shares in the last quarter. Groupe la Francaise increased its holdings in shares of American Tower by 319.0% in the 2nd quarter. Groupe la Francaise now owns 33,505 shares of the real estate investment trust’s stock valued at $5,481,000 after purchasing an additional 25,508 shares during the period. Finally, BIP Wealth LLC acquired a new position in shares of American Tower in the 2nd quarter valued at about $1,004,000. Institutional investors and hedge funds own 92.69% of the company’s stock.

American Tower Stock Up 0.1%

Shares of American Tower stock opened at $189.25 on Monday. The stock has a market capitalization of $88.18 billion, a P/E ratio of 26.03, a PEG ratio of 3.03 and a beta of 0.88. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 3.12. The stock has a 50 day moving average price of $174.69 and a two-hundred day moving average price of $175.73. American Tower Corporation has a 12-month low of $160.06 and a 12-month high of $202.50.

American Tower (NYSE:AMT) last announced its quarterly earnings results on Tuesday, July 28th. The real estate investment trust reported $2.71 EPS for the quarter, beating the consensus estimate of $1.57 by $1.14. American Tower had a return on equity of 32.76% and a net margin of 31.08%. The company had revenue of $2.75 billion for the quarter, compared to the consensus estimate of $2.70 billion. During the same quarter last year, the company posted $2.60 earnings per share. The company’s revenue for the quarter was up 4.6% compared to the same quarter last year. American Tower has set its FY 2026 guidance at 11.000-11.170 EPS. Equities analysts expect that American Tower Corporation will post 10.80 earnings per share for the current year.

American Tower Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 20th. Investors of record on Wednesday, September 30th were issued a dividend of $1.79 per share. This represents a $7.16 annualized dividend and a dividend yield of 3.8%. The ex-dividend date of this dividend was Wednesday, September 30th. American Tower’s dividend payout ratio is currently 98.49%.

More American Tower News

Here are the key news stories impacting American Tower this week:

• Positive Sentiment: Reports that SpaceX may pursue approximately 80,000 cell sites to support a nationwide wireless service boosted the outlook for tower operators. American Tower could benefit from new tenants, higher site utilization and incremental recurring rental revenue. SpaceX Talks Send Cell Tower Stocks Surging
• Positive Sentiment: Investors are also citing strong data-center leasing momentum at American Tower’s CoreSite business, adding a second growth catalyst alongside 5G deployments and traditional tower leasing. American Tower climbs as data-center leasing hits fresh records
• Positive Sentiment: Before its upcoming third-quarter report, analysts expect revenue and adjusted funds from operations to benefit from 5G activity, leasing demand and data-center growth. The company’s prior quarter exceeded earnings expectations and revenue increased year over year.
• Neutral Sentiment: Director Teresa Hillary Clarke disclosed several small purchases of American Tower shares, including a recent purchase at approximately $183 per share. The buying provides a modest confidence signal, but the transactions are small relative to the company’s market value and several disclosed trades are older.
• Negative Sentiment: Valuation concerns remain: an analyst recently reduced the price target, while commentary suggested American Tower’s former valuation discount has largely disappeared. This could limit further gains if quarterly results or guidance fail to exceed expectations. American Tower price target cut by Sanford C. Bernstein

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Wolfe Research raised shares of American Tower from a “peer perform” rating to an “outperform” rating and set a $188.00 price target for the company in a research report on Wednesday, July 8th. Sanford C. Bernstein lowered their price objective on shares of American Tower from $214.00 to $212.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 20th. Barclays upped their price objective on shares of American Tower from $198.00 to $199.00 and gave the company an “overweight” rating in a research note on Wednesday, September 30th. BMO Capital Markets increased their target price on shares of American Tower from $190.00 to $195.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 29th. Finally, The Goldman Sachs Group set a $210.00 target price on shares of American Tower in a research report on Tuesday, July 28th. One research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $214.90.

Insider Buying and Selling

In other American Tower news, EVP Ruth T. Dowling sold 1,106 shares of the business’s stock in a transaction on Wednesday, July 29th. The shares were sold at an average price of $174.96, for a total transaction of $193,505.76. Following the completion of the transaction, the executive vice president owned 27,711 shares of the company’s stock, valued at $4,848,316.56. The trade was a 3.84% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Robert Joseph Meyer sold 5,000 shares of the company’s stock in a transaction dated Wednesday, July 29th. The shares were sold at an average price of $178.89, for a total transaction of $894,450.00. Following the sale, the chief financial officer owned 21,428 shares of the company’s stock, valued at $3,833,254.92. This trade represents a 18.92% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 6,791 shares of company stock valued at $1,204,091. Company insiders own 0.08% of the company’s stock.

About American Tower

American Tower Corporation (NYSE:AMT) is a real estate investment trust that owns, operates and develops wireless communications infrastructure. Its portfolio primarily includes communications towers, rooftop sites, distributed antenna systems and other infrastructure used by wireless carriers, broadcasters, governments and businesses to support voice, data and video communications.

The company leases space on its sites to multiple customers, allowing them to install antennas and related equipment without building and maintaining individual tower locations.