Turtle Creek Wealth Advisors LLC Sells 10,210 Shares of American Tower Corporation $AMT

Turtle Creek Wealth Advisors LLC lessened its position in American Tower Corporation (NYSE:AMT) by 57.9% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 7,424 shares of the real estate investment trust’s stock after selling 10,210 shares during the period. Turtle Creek Wealth Advisors LLC’s holdings in American Tower were worth $1,303,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the company. Brighton Jones LLC increased its position in shares of American Tower by 113.0% during the fourth quarter. Brighton Jones LLC now owns 3,966 shares of the real estate investment trust’s stock worth $727,000 after acquiring an additional 2,104 shares in the last quarter. Sivia Capital Partners LLC grew its position in American Tower by 34.3% in the second quarter. Sivia Capital Partners LLC now owns 1,442 shares of the real estate investment trust’s stock valued at $319,000 after purchasing an additional 368 shares in the last quarter. United Bank lifted its stake in American Tower by 12.7% in the second quarter. United Bank now owns 6,488 shares of the real estate investment trust’s stock valued at $1,434,000 after acquiring an additional 733 shares during the last quarter. Treasurer of the State of North Carolina lifted its stake in American Tower by 2.2% in the second quarter. Treasurer of the State of North Carolina now owns 218,511 shares of the real estate investment trust’s stock valued at $48,295,000 after acquiring an additional 4,778 shares during the last quarter. Finally, Ieq Capital LLC lifted its stake in American Tower by 52.2% in the second quarter. Ieq Capital LLC now owns 34,248 shares of the real estate investment trust’s stock valued at $7,570,000 after acquiring an additional 11,751 shares during the last quarter. Institutional investors own 92.69% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Barclays cut their target price on shares of American Tower from $200.00 to $195.00 and set an “equal weight” rating for the company in a research note on Thursday, April 16th. Royal Bank Of Canada decreased their target price 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. JPMorgan Chase & Co. decreased their target price on shares of American Tower from $250.00 to $245.00 and set an “overweight” rating on the stock in a report on Monday, January 12th. Raymond James Financial decreased their price target on shares of American Tower from $231.00 to $229.00 and set a “strong-buy” rating on the stock in a report on Friday, January 23rd. Finally, Scotiabank decreased their price target 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 analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, American Tower has an average rating of “Moderate Buy” and a consensus target price of $217.33.

American Tower Stock Up 1.5%

American Tower stock opened at $178.98 on Friday. 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 Corporation has a 12-month low of $165.08 and a 12-month high of $234.33. The firm’s fifty day moving average is $181.15 and its 200 day moving average is $180.31. The company has a market capitalization of $83.42 billion, a PE ratio of 33.21, a PEG ratio of 0.74 and a beta of 0.92.

American Tower (NYSE:AMT) last released its earnings results on Tuesday, February 24th. The real estate investment trust reported $1.75 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.54 by ($0.79). American Tower had a net margin of 23.76% and a return on equity of 24.36%. The company had revenue of $2.74 billion for the quarter, compared to analyst estimates of $2.69 billion. During the same quarter in the previous year, the firm earned $2.62 EPS. The firm’s revenue was up 7.5% on a year-over-year basis. American Tower has set its FY 2026 guidance at 10.780-10.950 EPS. As a group, sell-side analysts predict that American Tower Corporation will post 10.59 EPS for the current fiscal year.

American Tower Increases Dividend

The firm also recently declared 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 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 yield of 4.0%. American Tower’s dividend payout ratio (DPR) is presently 132.84%.

Insiders Place Their Bets

In other American Tower news, 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 completion of the sale, the chief operating officer owned 29,592 shares in the company, valued at approximately $5,653,551.60. The trade was a 58.20% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Rajesh Kalathur purchased 2,671 shares of the firm’s stock in a transaction on Tuesday, March 10th. The shares were acquired at an average price of $185.30 per share, with a total value of $494,936.30. Following the purchase, the director directly owned 4,936 shares in the company, valued at $914,640.80. This represents a 117.92% increase in their position. The SEC filing for this purchase provides additional information. Insiders own 0.17% of the company’s stock.

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.