Carnegie Investment Counsel Sells 12,061 Shares of American Tower Corporation $AMT

Carnegie Investment Counsel lowered its position in American Tower Corporation (NYSE:AMT) by 9.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 116,605 shares of the real estate investment trust’s stock after selling 12,061 shares during the quarter. Carnegie Investment Counsel’s holdings in American Tower were worth $20,472,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of AMT. Abound Wealth Management increased its holdings in American Tower by 137.3% during the third quarter. Abound Wealth Management now owns 140 shares of the real estate investment trust’s stock valued at $27,000 after buying an additional 81 shares during the period. Holos Integrated Wealth LLC purchased a new position in American Tower during the fourth quarter valued at approximately $27,000. Triumph Capital Management purchased a new position in American Tower during the third quarter valued at approximately $29,000. Root Financial Partners LLC purchased a new position in American Tower during the third quarter valued at approximately $32,000. Finally, Physician Wealth Advisors Inc. increased its holdings in American Tower by 85.9% during the third quarter. Physician Wealth Advisors Inc. now owns 171 shares of the real estate investment trust’s stock valued at $33,000 after buying an additional 79 shares during the period. Institutional investors own 92.69% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. Jefferies Financial Group lifted their price objective on shares of American Tower from $200.00 to $209.00 and gave the company a “buy” rating in a report on Thursday, February 26th. New Street Research raised shares of American Tower from a “neutral” rating to a “buy” rating and set a $203.00 price objective on the stock in a report on Monday, January 5th. Royal Bank Of Canada cut their price objective on shares of American Tower from $220.00 to $195.00 and set a “sector perform” rating on the stock in a report on Monday, January 12th. Morgan Stanley cut their price objective on shares of American Tower from $225.00 to $220.00 and set an “overweight” rating on the stock in a report on Wednesday, February 25th. Finally, Scotiabank cut their price objective on shares of American Tower from $220.00 to $214.00 and set a “sector outperform” rating on the stock in a report on Wednesday, February 25th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $216.76.

American Tower Price Performance

NYSE AMT opened at $179.29 on Friday. The firm’s fifty day simple moving average is $180.78 and its two-hundred day simple moving average is $181.20. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 3.27. American Tower Corporation has a 12-month low of $165.08 and a 12-month high of $234.33. The firm has a market capitalization of $83.56 billion, a P/E ratio of 33.26, a P/E/G ratio of 0.76 and a beta of 0.92.

American Tower (NYSE:AMT) last released its quarterly 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 analysts’ expectations of $2.69 billion. During the same period in the prior year, the firm posted $2.62 earnings per share. American Tower’s revenue for the quarter was up 7.5% compared to the same quarter last year. 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 fiscal year.

American Tower Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 28th. Shareholders of record on Tuesday, April 14th will be issued a $1.79 dividend. This is an increase from American Tower’s previous quarterly dividend of $1.70. This represents a $7.16 annualized dividend and a yield of 4.0%. The ex-dividend date of this dividend is Tuesday, April 14th. American Tower’s dividend payout ratio is presently 126.16%.

Insider Buying and Selling at American Tower

In related news, Director Rajesh Kalathur acquired 2,671 shares of the company’s stock in a transaction dated Tuesday, March 10th. The shares were purchased at an average cost of $185.30 per share, with a total value of $494,936.30. Following the completion of the acquisition, the director directly owned 4,936 shares of the company’s stock, valued at $914,640.80. This represents a 117.92% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Eugene M. Noel sold 41,209 shares of the business’s stock in a transaction 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 sale, the chief operating officer directly owned 29,592 shares in the company, valued at $5,653,551.60. This trade represents a 58.20% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.17% of the stock is currently owned by insiders.

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.