Panagora Asset Management Inc. Sells 184,120 Shares of American Tower Corporation $AMT

Panagora Asset Management Inc. trimmed its holdings in shares of American Tower Corporation (NYSE:AMT) by 33.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 366,185 shares of the real estate investment trust’s stock after selling 184,120 shares during the period. Panagora Asset Management Inc. owned about 0.08% of American Tower worth $64,291,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in AMT. Brighton Jones LLC grew its holdings in American Tower by 113.0% during the 4th 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 holdings in American Tower by 34.3% during the 2nd quarter. Sivia Capital Partners LLC now owns 1,442 shares of the real estate investment trust’s stock worth $319,000 after acquiring an additional 368 shares in the last quarter. United Bank grew its holdings in American Tower by 12.7% during the 2nd quarter. United Bank now owns 6,488 shares of the real estate investment trust’s stock worth $1,434,000 after acquiring an additional 733 shares in the last quarter. Treasurer of the State of North Carolina grew its holdings in American Tower by 2.2% during the 2nd quarter. Treasurer of the State of North Carolina now owns 218,511 shares of the real estate investment trust’s stock worth $48,295,000 after acquiring an additional 4,778 shares in the last quarter. Finally, Ieq Capital LLC grew its holdings in American Tower by 52.2% during the 2nd quarter. Ieq Capital LLC now owns 34,248 shares of the real estate investment trust’s stock worth $7,570,000 after acquiring an additional 11,751 shares in the last quarter. 92.69% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Morgan Stanley lowered their price target 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. Royal Bank Of Canada restated a “sector perform” rating and issued a $195.00 price target on shares of American Tower in a report on Thursday, April 30th. Truist Financial raised their price target on shares of American Tower from $205.00 to $208.00 and gave the company a “buy” rating in a report on Thursday, April 30th. Mizuho upgraded shares of American Tower from a “neutral” rating to an “outperform” rating and raised their price target for the company from $189.00 to $205.00 in a report on Wednesday, April 15th. Finally, JPMorgan Chase & Co. lowered their price target on shares of 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, fourteen have given a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $216.20.

American Tower Stock Up 0.0%

NYSE:AMT opened at $187.20 on Monday. The stock has a market capitalization of $87.22 billion, a P/E ratio of 30.24, a P/E/G ratio of 0.78 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 company’s 50-day simple moving average is $181.01 and its 200-day simple moving average is $179.92. American Tower Corporation has a fifty-two week low of $165.08 and a fifty-two week high of $234.33.

American Tower (NYSE:AMT) last announced 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%. American Tower’s revenue was up 6.8% on a year-over-year basis. During the same period last year, the firm posted $2.75 EPS. American Tower has set its FY 2026 guidance at 10.900-11.07 EPS. On average, equities analysts anticipate that American Tower Corporation will post 10.67 earnings per share for the current fiscal year.

American Tower Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 13th. Investors of record on Friday, June 12th will be given a $1.79 dividend. This represents a $7.16 annualized dividend and a dividend yield of 3.8%. The ex-dividend date of this dividend is Friday, June 12th. American Tower’s dividend payout ratio (DPR) is presently 115.67%.

Insider Activity at American Tower

In related news, EVP Ruth T. Dowling sold 556 shares of the stock in a transaction that occurred on Tuesday, April 28th. The shares were sold at an average price of $178.48, for a total value of $99,234.88. Following the completion of the transaction, the executive vice president directly owned 29,877 shares of the company’s stock, valued at $5,332,446.96. This trade represents a 1.83% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.08% of the stock is owned by insiders.

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.