Sterling Capital Management LLC Sells 9,250 Shares of American Tower Corporation $AMT

Sterling Capital Management LLC reduced its stake in American Tower Corporation (NYSE:AMT) by 16.9% in the 1st quarter, Holdings Channel reports. The firm owned 45,618 shares of the real estate investment trust’s stock after selling 9,250 shares during the period. Sterling Capital Management LLC’s holdings in American Tower were worth $7,873,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. CIBC Bancorp USA Inc. acquired a new stake in American Tower in the 3rd quarter worth $35,633,000. Nordea Investment Management AB grew its position in American Tower by 10.4% during the fourth quarter. Nordea Investment Management AB now owns 1,743,321 shares of the real estate investment trust’s stock worth $306,284,000 after buying an additional 164,645 shares in the last quarter. Legal & General Group Plc increased its stake in American Tower by 4.7% during the fourth quarter. Legal & General Group Plc now owns 4,873,695 shares of the real estate investment trust’s stock valued at $855,675,000 after acquiring an additional 220,447 shares during the period. Rathbones Group PLC raised its holdings in American Tower by 14.9% in the 4th quarter. Rathbones Group PLC now owns 474,216 shares of the real estate investment trust’s stock valued at $83,258,000 after acquiring an additional 61,428 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of American Tower by 5.4% in the 3rd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 939,247 shares of the real estate investment trust’s stock worth $180,636,000 after acquiring an additional 47,966 shares during the period. Institutional investors and hedge funds own 92.69% of the company’s stock.

Insider Buying and Selling at American Tower

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 transaction of $73,856.64. Following the sale, the executive vice president owned 29,461 shares of the company’s stock, valued at $5,230,505.94. This represents a 1.39% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.08% of the company’s stock.

American Tower Stock Up 4.0%

AMT opened at $175.41 on Friday. The firm has a market cap of $81.72 billion, a price-to-earnings ratio of 28.34, a PEG ratio of 0.70 and a beta of 0.90. 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’s 50-day simple moving average is $181.20 and its 200-day simple moving average is $179.83. American Tower Corporation has a twelve month low of $165.08 and a twelve month high of $234.33.

American Tower (NYSE:AMT) last released its quarterly earnings results on Tuesday, April 28th. The real estate investment trust reported $2.84 EPS for the quarter, beating analysts’ consensus estimates of $1.60 by $1.24. The firm had revenue of $2.74 billion for 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% compared to the same quarter last year. During the same period in the previous year, the business earned $2.75 earnings per share. American Tower has set its FY 2026 guidance at 10.900-11.07 EPS. Equities research analysts anticipate that American Tower Corporation will post 10.66 EPS for the current fiscal year.

American Tower Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 13th. Stockholders of record on Friday, June 12th will be issued a dividend of $1.79 per share. This represents a $7.16 annualized dividend and a dividend yield of 4.1%. The ex-dividend date is Friday, June 12th. American Tower’s dividend payout ratio is presently 115.67%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on AMT. Citizens Jmp restated a “market outperform” rating and issued a $260.00 target price on shares of American Tower in a research note on Wednesday, April 29th. Mizuho upgraded shares of American Tower from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $189.00 to $205.00 in a research note on Wednesday, April 15th. Weiss Ratings raised shares of American Tower from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, May 11th. Raymond James Financial reissued a “strong-buy” rating and issued a $240.00 target price on shares of American Tower in a research note on Wednesday, April 29th. Finally, JPMorgan Chase & Co. decreased their price objective on American Tower from $245.00 to $240.00 and set an “overweight” rating on the stock in a report on Wednesday, April 29th. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $216.95.

American Tower 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.