First Manhattan CO. LLC. Sells 8,148 Shares of American Tower Corporation $AMT

First Manhattan CO. LLC. lessened its stake in shares of American Tower Corporation (NYSE:AMT) by 3.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 200,674 shares of the real estate investment trust’s stock after selling 8,148 shares during the quarter. First Manhattan CO. LLC.’s holdings in American Tower were worth $35,573,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in AMT. Claro Advisors Inc. raised its holdings in shares of American Tower by 30.7% in the 4th quarter. Claro Advisors Inc. now owns 1,484 shares of the real estate investment trust’s stock worth $261,000 after acquiring an additional 349 shares during the last quarter. Freestone Grove Partners LP raised its holdings in shares of American Tower by 3.8% in the 4th quarter. Freestone Grove Partners LP now owns 4,399 shares of the real estate investment trust’s stock worth $772,000 after acquiring an additional 161 shares during the last quarter. Guggenheim Capital LLC raised its holdings in shares of American Tower by 25.3% in the 4th quarter. Guggenheim Capital LLC now owns 100,281 shares of the real estate investment trust’s stock worth $17,606,000 after acquiring an additional 20,225 shares during the last quarter. Schonfeld Strategic Advisors LLC raised its holdings in shares of American Tower by 67.8% in the 4th quarter. Schonfeld Strategic Advisors LLC now owns 117,838 shares of the real estate investment trust’s stock worth $20,689,000 after acquiring an additional 47,626 shares during the last quarter. Finally, DV Equities LLC acquired a new stake in shares of American Tower in the 4th quarter worth about $114,000. Institutional investors own 92.69% of the company’s stock.

American Tower Trading Down 1.7%

NYSE:AMT opened at $181.29 on Thursday. The company has a debt-to-equity ratio of 3.07, a quick ratio of 0.43 and a current ratio of 0.43. The firm has a market cap of $84.46 billion, a price-to-earnings ratio of 29.29, a price-to-earnings-growth ratio of 0.77 and a beta of 0.90. American Tower Corporation has a 52 week low of $165.08 and a 52 week high of $234.33. The firm has a 50-day moving average price of $181.57 and a two-hundred day moving average price of $179.99.

American Tower (NYSE:AMT) last posted its quarterly earnings data on Tuesday, April 28th. The real estate investment trust reported $2.84 EPS for the quarter, beating the consensus estimate of $1.60 by $1.24. The firm had revenue of $2.74 billion during the quarter, compared to analyst estimates of $2.66 billion. American Tower had a net margin of 26.81% and a return on equity of 27.79%. The company’s revenue for the quarter was up 6.8% on a year-over-year basis. During the same quarter last year, the business posted $2.75 EPS. American Tower has set its FY 2026 guidance at 10.900-11.07 EPS. On average, equities analysts expect that American Tower Corporation will post 10.67 earnings per share for the current fiscal year.

American Tower Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 13th. Shareholders of record on Friday, June 12th will be paid a $1.79 dividend. The ex-dividend date is Friday, June 12th. This represents a $7.16 annualized dividend and a yield of 3.9%. American Tower’s dividend payout ratio (DPR) is 115.67%.

Insider Buying and Selling

In other American Tower news, EVP Ruth T. Dowling sold 416 shares of the stock in a transaction dated Wednesday, April 29th. The shares were sold at an average price of $177.54, for a total value of $73,856.64. Following the completion of the sale, the executive vice president owned 29,461 shares in the company, valued at approximately $5,230,505.94. This trade represents a 1.39% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.08% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on AMT shares. BMO Capital Markets upped their target price on shares of American Tower from $185.00 to $200.00 and gave the stock a “market perform” rating in a report on Wednesday, February 25th. Truist Financial upped their target price on shares of American Tower from $205.00 to $208.00 and gave the stock a “buy” rating in a report on Thursday, April 30th. Morgan Stanley lowered their target price 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. Jefferies Financial Group upped their target price on shares of American Tower from $209.00 to $210.00 and gave the stock a “buy” rating in a report on Tuesday, April 14th. Finally, Citizens Jmp restated a “market outperform” rating and issued a $260.00 target price on shares of American Tower in a report on Wednesday, April 29th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, American Tower presently has an average rating of “Moderate Buy” and an average target price of $216.20.

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.