Akre Capital Management LLC Cuts Position in American Tower Corporation $AMT

Akre Capital Management LLC decreased its stake in American Tower Corporation (NYSE:AMT) by 51.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 442,843 shares of the real estate investment trust’s stock after selling 472,406 shares during the period. American Tower makes up 0.8% of Akre Capital Management LLC’s investment portfolio, making the stock its 14th largest holding. Akre Capital Management LLC owned 0.09% of American Tower worth $85,168,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in AMT. South Plains Financial Inc. raised its holdings in American Tower by 27.6% during the third quarter. South Plains Financial Inc. now owns 1,108 shares of the real estate investment trust’s stock worth $213,000 after purchasing an additional 240 shares during the last quarter. Johnson Financial Group Inc. increased its holdings in American Tower by 40.6% during the 3rd quarter. Johnson Financial Group Inc. now owns 1,171 shares of the real estate investment trust’s stock valued at $227,000 after acquiring an additional 338 shares in the last quarter. Quadrature Capital Ltd raised its position in American Tower by 1,759.1% during the third quarter. Quadrature Capital Ltd now owns 244,268 shares of the real estate investment trust’s stock worth $46,963,000 after acquiring an additional 231,129 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its holdings in shares of American Tower by 35.0% in the third quarter. Arrowstreet Capital Limited Partnership now owns 2,796,007 shares of the real estate investment trust’s stock valued at $537,728,000 after purchasing an additional 724,504 shares in the last quarter. Finally, Acorns Advisers LLC lifted its holdings in shares of American Tower by 26.8% in the third quarter. Acorns Advisers LLC now owns 2,214 shares of the real estate investment trust’s stock valued at $426,000 after purchasing an additional 468 shares in the last quarter. 92.69% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other American Tower news, COO Eugene M. Noel sold 41,209 shares of the 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 of the company’s stock, valued at approximately $5,653,551.60. This represents a 58.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Rajesh Kalathur purchased 2,671 shares of American Tower stock in a transaction dated Tuesday, March 10th. The stock was acquired at an average price of $185.30 per share, for a total transaction of $494,936.30. Following the completion of the transaction, the director owned 4,936 shares in the company, valued at approximately $914,640.80. The trade was a 117.92% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 0.17% of the company’s stock.

Analyst Upgrades and Downgrades

AMT has been the subject of a number of recent research reports. Jefferies Financial Group raised their price objective on shares of American Tower from $200.00 to $209.00 and gave the stock a “buy” rating in a research note on Thursday, February 26th. Weiss Ratings restated a “hold (c)” rating on shares of American Tower in a research report on Monday, December 29th. New Street Research raised shares of American Tower from a “neutral” rating to a “buy” rating and set a $203.00 target price for the company in a research note on Monday, January 5th. BMO Capital Markets upped their target price on shares of American Tower from $185.00 to $200.00 and gave the company a “market perform” rating in a report on Wednesday, February 25th. Finally, The Goldman Sachs Group lowered their price target on shares of American Tower from $230.00 to $210.00 and set a “buy” rating for the company in a report on Friday, January 16th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $217.35.

American Tower Price Performance

Shares of NYSE AMT opened at $179.66 on Friday. 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 Corporation has a 1-year low of $166.88 and a 1-year high of $234.33. The company has a market capitalization of $83.74 billion, a price-to-earnings ratio of 33.33, a PEG ratio of 0.77 and a beta of 0.92. The business has a 50-day moving average of $181.23 and a 200-day moving average of $184.44.

American Tower (NYSE:AMT) last announced its earnings results on Tuesday, February 24th. The real estate investment trust reported $1.75 earnings per share for the quarter, missing the consensus estimate of $2.54 by ($0.79). The firm had revenue of $2.74 billion during the quarter, compared to analysts’ expectations of $2.69 billion. American Tower had a net margin of 23.76% and a return on equity of 24.36%. American Tower’s revenue for the quarter was up 7.5% compared to the same quarter last year. During the same quarter last year, the company posted $2.62 earnings per share. American Tower has set its FY 2026 guidance at 10.780-10.950 EPS. On average, equities analysts anticipate that American Tower Corporation will post 10.14 EPS for the current fiscal year.

American Tower Increases Dividend

The business 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 is a boost from American Tower’s previous quarterly dividend of $1.70. The ex-dividend date is Tuesday, April 14th. This represents a $7.16 dividend on an annualized basis and a dividend yield of 4.0%. American Tower’s dividend payout ratio (DPR) is currently 126.16%.

About American Tower

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.