American Tower Corporation $AMT Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC reduced its stake in American Tower Corporation (NYSE:AMT) by 15.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 194,298 shares of the real estate investment trust’s stock after selling 34,381 shares during the period. Allspring Global Investments Holdings LLC’s holdings in American Tower were worth $33,963,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in AMT. Abound Wealth Management boosted its position in American Tower by 137.3% during the 3rd quarter. Abound Wealth Management now owns 140 shares of the real estate investment trust’s stock valued at $27,000 after purchasing an additional 81 shares during the period. Triumph Capital Management acquired a new stake in American Tower in the third quarter worth $29,000. Holos Integrated Wealth LLC bought a new stake in American Tower in the fourth quarter valued at $27,000. Root Financial Partners LLC bought a new stake in American Tower in the third quarter valued at $32,000. Finally, Westside Investment Management Inc. boosted its holdings in shares of American Tower by 103.6% during the third quarter. Westside Investment Management Inc. now owns 169 shares of the real estate investment trust’s stock valued at $33,000 after acquiring an additional 86 shares during the period. Institutional investors own 92.69% of the company’s stock.

American Tower Trading Up 1.6%

NYSE:AMT opened at $173.73 on Friday. The stock has a fifty day simple moving average of $181.12 and a 200 day simple moving average of $181.93. The firm has a market capitalization of $80.97 billion, a price-to-earnings ratio of 32.23, a price-to-earnings-growth ratio of 0.72 and a beta of 0.92. American Tower Corporation has a 1-year low of $165.08 and a 1-year high of $234.33. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 3.27.

American Tower (NYSE:AMT) last posted 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%.American Tower’s quarterly revenue was up 7.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.62 EPS. American Tower has set its FY 2026 guidance at 10.780-10.950 EPS. Sell-side analysts forecast that American Tower Corporation will post 10.14 earnings per share for the current year.

American Tower Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 28th. Investors of record on Tuesday, April 14th will be paid a $1.79 dividend. The ex-dividend date of this dividend is Tuesday, April 14th. This represents a $7.16 annualized dividend and a yield of 4.1%. This is an increase from American Tower’s previous quarterly dividend of $1.70. American Tower’s dividend payout ratio (DPR) is currently 126.16%.

Insider Transactions at American Tower

In related news, COO Eugene M. Noel sold 41,209 shares of the firm’s stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $191.05, for a total transaction of $7,872,979.45. Following the completion of the sale, the chief operating officer directly owned 29,592 shares in the company, valued at approximately $5,653,551.60. This trade represents a 58.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Rajesh Kalathur acquired 2,671 shares of the company’s stock in a transaction on Tuesday, March 10th. The stock was bought at an average price of $185.30 per share, for a total transaction of $494,936.30. Following the purchase, the director owned 4,936 shares in the company, valued at approximately $914,640.80. This trade represents a 117.92% increase in their position. The disclosure for this purchase is available in the SEC filing. Company insiders own 0.17% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Scotiabank cut their price target on American Tower from $220.00 to $214.00 and set a “sector outperform” rating on the stock in a report on Wednesday, February 25th. Jefferies Financial Group increased their price objective on American Tower from $200.00 to $209.00 and gave the stock a “buy” rating in a report on Thursday, February 26th. BMO Capital Markets raised their target price on American Tower from $185.00 to $200.00 and gave the company a “market perform” rating in a research report on Wednesday, February 25th. Mizuho cut their target price on American Tower from $217.00 to $189.00 and set a “neutral” rating on the stock in a research note on Monday, January 12th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of American Tower in a research report on Monday, December 29th. Two research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $216.76.

American Tower 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.