Red Door Wealth Management LLC Sells 6,600 Shares of American Tower Corporation $AMT

Red Door Wealth Management LLC lessened its holdings in shares of American Tower Corporation (NYSE:AMT) by 26.6% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 18,257 shares of the real estate investment trust’s stock after selling 6,600 shares during the period. Red Door Wealth Management LLC’s holdings in American Tower were worth $3,205,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Lazard Asset Management LLC lifted its holdings in shares of American Tower by 1,984.8% during the third quarter. Lazard Asset Management LLC now owns 4,464,382 shares of the real estate investment trust’s stock worth $858,552,000 after buying an additional 4,250,242 shares during the last quarter. Viking Global Investors LP grew its stake in shares of American Tower by 233.5% in the second quarter. Viking Global Investors LP now owns 2,797,125 shares of the real estate investment trust’s stock worth $618,221,000 after acquiring an additional 1,958,329 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC bought a new position in American Tower during the third quarter worth $305,872,000. Arrowstreet Capital Limited Partnership increased its position in American Tower by 35.0% during the third quarter. Arrowstreet Capital Limited Partnership now owns 2,796,007 shares of the real estate investment trust’s stock worth $537,728,000 after acquiring an additional 724,504 shares during the period. Finally, Two Sigma Investments LP raised its stake in American Tower by 733.1% during the 3rd quarter. Two Sigma Investments LP now owns 804,761 shares of the real estate investment trust’s stock valued at $154,772,000 after purchasing an additional 708,158 shares during the last quarter. Institutional investors own 92.69% of the company’s stock.

Insider Buying and Selling

In other American Tower news, Director Rajesh Kalathur purchased 2,671 shares of the company’s stock in a transaction that occurred on Tuesday, March 10th. The stock was purchased at an average cost of $185.30 per share, with a total value of $494,936.30. Following the acquisition, the director directly owned 4,936 shares of the company’s stock, valued at approximately $914,640.80. This trade represents a 117.92% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, COO Eugene M. Noel sold 41,209 shares of American Tower stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $191.05, for a total value of $7,872,979.45. Following the completion of the transaction, the chief operating officer owned 29,592 shares of the company’s stock, valued at approximately $5,653,551.60. The trade was a 58.20% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 0.17% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on AMT shares. Sanford C. Bernstein started coverage on shares of American Tower in a research report on Thursday, March 5th. They issued a “market perform” rating and a $205.00 price target on the stock. BMO Capital Markets increased their target price on shares of American Tower from $185.00 to $200.00 and gave the company a “market perform” rating in a research note on Wednesday, February 25th. JPMorgan Chase & Co. decreased their target price on American Tower from $250.00 to $245.00 and set an “overweight” rating on the stock in a research report on Monday, January 12th. New Street Research upgraded American Tower from a “neutral” rating to a “buy” rating and set a $203.00 price target on the stock in a research note on Monday, January 5th. Finally, The Goldman Sachs Group cut their price target on American Tower from $230.00 to $210.00 and set a “buy” rating for the company in a report on Friday, January 16th. Two analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $216.76.

American Tower Price Performance

Shares of AMT stock opened at $173.73 on Friday. The stock’s fifty day simple moving average is $181.02 and its 200 day simple moving average is $181.80. American Tower Corporation has a one year low of $165.08 and a one year high of $234.33. The firm has a market cap of $80.97 billion, a price-to-earnings ratio of 32.23, a P/E/G ratio of 0.73 and a beta of 0.92. 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 (NYSE:AMT) last released its quarterly earnings data 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). The company had revenue of $2.74 billion for the quarter, compared to analyst estimates of $2.69 billion. American Tower had a return on equity of 24.36% and a net margin of 23.76%.The business’s revenue was up 7.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.62 earnings per share. American Tower has set its FY 2026 guidance at 10.780-10.950 EPS. On average, analysts expect that American Tower Corporation will post 10.14 earnings per share for the current fiscal year.

American Tower Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 28th. Stockholders of record on Tuesday, April 14th will be paid a $1.79 dividend. This represents a $7.16 dividend on an annualized basis and a dividend yield of 4.1%. This is an increase from American Tower’s previous quarterly dividend of $1.70. The ex-dividend date is Tuesday, April 14th. American Tower’s dividend payout ratio is presently 126.16%.

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.