American Tower Corporation $AMT Shares Sold by Ameriprise Financial Inc.

Ameriprise Financial Inc. trimmed its position in American Tower Corporation (NYSE:AMT) by 4.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 4,168,214 shares of the real estate investment trust’s stock after selling 209,616 shares during the period. Ameriprise Financial Inc. owned about 0.89% of American Tower worth $801,495,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Abound Wealth Management lifted its position in shares of American Tower by 137.3% in the third quarter. Abound Wealth Management now owns 140 shares of the real estate investment trust’s stock valued at $27,000 after acquiring an additional 81 shares in the last quarter. Root Financial Partners LLC purchased a new stake in shares of American Tower during the third quarter worth approximately $32,000. Physician Wealth Advisors Inc. raised its stake in American Tower by 85.9% in the 3rd quarter. Physician Wealth Advisors Inc. now owns 171 shares of the real estate investment trust’s stock valued at $33,000 after purchasing an additional 79 shares during the last quarter. Westside Investment Management Inc. raised its stake in American Tower by 103.6% in the 3rd quarter. Westside Investment Management Inc. now owns 169 shares of the real estate investment trust’s stock valued at $33,000 after purchasing an additional 86 shares during the last quarter. Finally, VSM Wealth Advisory LLC lifted its holdings in American Tower by 136.4% in the 2nd quarter. VSM Wealth Advisory LLC now owns 156 shares of the real estate investment trust’s stock valued at $34,000 after purchasing an additional 90 shares in the last quarter. 92.69% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of American Tower in a research note on Monday, December 29th. Morgan Stanley reduced their target price on shares of American Tower from $225.00 to $220.00 and set an “overweight” rating for the company in a research report on Wednesday, February 25th. JPMorgan Chase & Co. lowered their price target on shares of 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 raised shares of American Tower from a “neutral” rating to a “buy” rating and set a $203.00 price objective for the company in a research note on Monday, January 5th. Finally, TD Cowen cut their price objective on shares of American Tower from $235.00 to $225.00 in a report on Wednesday, February 25th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and seven have given a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $217.35.

Insider Activity

In other news, COO Eugene M. Noel sold 41,209 shares of the stock in a transaction that occurred 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 sale, the chief operating officer owned 29,592 shares of the company’s stock, valued at $5,653,551.60. This represents a 58.20% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Rajesh Kalathur purchased 2,671 shares of American Tower stock in a transaction dated Tuesday, March 10th. The shares were purchased at an average cost of $185.30 per share, for a total transaction of $494,936.30. Following the transaction, 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. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 0.17% of the company’s stock.

American Tower Stock Up 2.5%

Shares of NYSE:AMT opened at $184.39 on Friday. American Tower Corporation has a 52-week low of $166.88 and a 52-week high of $234.33. The stock has a market cap of $85.94 billion, a P/E ratio of 34.21, a PEG ratio of 0.77 and a beta of 0.92. The business has a fifty day moving average of $181.42 and a two-hundred day moving average of $184.09. 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 results on Tuesday, February 24th. The real estate investment trust reported $1.75 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 analysts’ expectations of $2.69 billion. American Tower had a return on equity of 24.36% and a net margin of 23.76%.The firm’s revenue was up 7.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.62 EPS. American Tower has set its FY 2026 guidance at 10.780-10.950 EPS. On average, research analysts expect that American Tower Corporation will post 10.14 earnings per share for the current year.

American Tower Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 28th. Shareholders of record on Tuesday, April 14th will be paid a dividend of $1.79 per share. This represents a $7.16 dividend on an annualized basis and a yield of 3.9%. This is a boost from American Tower’s previous quarterly dividend of $1.70. The ex-dividend date of this dividend is Tuesday, April 14th. American Tower’s payout ratio is presently 132.84%.

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.