Skylands Capital LLC Sells 5,020 Shares of American Tower Corporation $AMT

Skylands Capital LLC cut its holdings in American Tower Corporation (NYSE:AMT) by 7.9% in the first quarter, Holdings Channel.com reports. The fund owned 58,710 shares of the real estate investment trust’s stock after selling 5,020 shares during the quarter. American Tower makes up about 1.3% of Skylands Capital LLC’s investment portfolio, making the stock its 20th largest position. Skylands Capital LLC’s holdings in American Tower were worth $10,132,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Oakworth Capital Inc. raised its holdings in shares of American Tower by 90.7% during the 4th quarter. Oakworth Capital Inc. now owns 143 shares of the real estate investment trust’s stock valued at $25,000 after purchasing an additional 68 shares in the last quarter. Richards Merrill & Peterson Inc. acquired a new stake in shares of American Tower in the 4th quarter valued at $25,000. Swiss RE Ltd. bought a new stake in American Tower in the fourth quarter worth $25,000. Triumph Capital Management acquired a new position in American Tower during the third quarter worth $29,000. Finally, Holos Integrated Wealth LLC acquired a new position in American Tower during the fourth quarter worth $27,000. 92.69% of the stock is owned by institutional investors.

Insider Transactions at American Tower

In other news, EVP Ruth T. Dowling sold 416 shares of the business’s 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 transaction, the executive vice president owned 29,461 shares in the company, valued at approximately $5,230,505.94. The trade was a 1.39% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.08% of the stock is owned by corporate insiders.

American Tower Price Performance

Shares of NYSE:AMT opened at $175.41 on Friday. The company has a market cap of $81.72 billion, a price-to-earnings ratio of 28.34, a PEG ratio of 0.73 and a beta of 0.90. The business has a 50 day moving average price of $181.20 and a 200 day moving average price of $179.83. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 3.07. American Tower Corporation has a twelve month low of $165.08 and a twelve month high of $234.33.

American Tower (NYSE:AMT) last posted its quarterly earnings data on Tuesday, April 28th. The real estate investment trust reported $2.84 earnings per share for the quarter, beating the consensus estimate of $1.60 by $1.24. The company had revenue of $2.74 billion during the quarter, compared to analysts’ expectations of $2.66 billion. American Tower had a return on equity of 27.79% and a net margin of 26.81%.American Tower’s revenue for the quarter was up 6.8% compared to the same quarter last year. During the same period in the prior year, the business earned $2.75 earnings per share. American Tower has set its FY 2026 guidance at 10.900-11.07 EPS. Research analysts predict that American Tower Corporation will post 10.66 earnings per share for the current year.

American Tower Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, July 13th. Shareholders of record on Friday, June 12th will be given a $1.79 dividend. This represents a $7.16 annualized dividend and a yield of 4.1%. The ex-dividend date is Friday, June 12th. American Tower’s dividend payout ratio (DPR) is currently 115.67%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on AMT. Barclays reduced their price target on American Tower from $200.00 to $195.00 and set an “equal weight” rating for the company in a research report on Thursday, April 16th. Scotiabank increased their price objective on American Tower from $214.00 to $218.00 and gave the company an “outperform” rating in a report on Wednesday, April 29th. JPMorgan Chase & Co. cut their price objective on American Tower from $245.00 to $240.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 29th. Truist Financial boosted their target price on American Tower from $205.00 to $208.00 and gave the stock a “buy” rating in a report on Thursday, April 30th. Finally, The Goldman Sachs Group began coverage on American Tower in a research report on Friday. They set a “buy” rating and a $215.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $216.95.

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.