Palisade Asset Management LLC Has $6.51 Million Holdings in American Tower Corporation $AMT

Palisade Asset Management LLC cut its holdings in shares of American Tower Corporation (NYSE:AMT) by 22.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 37,066 shares of the real estate investment trust’s stock after selling 10,482 shares during the period. Palisade Asset Management LLC’s holdings in American Tower were worth $6,508,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Brighton Jones LLC lifted its holdings in shares of American Tower by 113.0% in the fourth quarter. Brighton Jones LLC now owns 3,966 shares of the real estate investment trust’s stock valued at $727,000 after purchasing an additional 2,104 shares in the last quarter. Sivia Capital Partners LLC lifted its holdings in shares of 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 holdings in shares of 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 purchasing an additional 733 shares in the last quarter. Treasurer of the State of North Carolina lifted its holdings in shares of 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 purchasing an additional 4,778 shares in the last quarter. Finally, Ieq Capital LLC lifted its holdings in shares of 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 purchasing 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 commented on AMT shares. Sanford C. Bernstein upgraded American Tower from a “market perform” rating to an “outperform” rating and set a $207.00 price target on the stock in a report on Tuesday, May 19th. Scotiabank lifted their target price on American Tower from $214.00 to $218.00 and gave the company an “outperform” rating in a research report on Wednesday, April 29th. Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $195.00 target price on shares of American Tower in a research report on Thursday, April 30th. Citizens Jmp reaffirmed a “market outperform” rating and issued a $260.00 target price on shares of American Tower in a research report on Wednesday, April 29th. Finally, UBS Group lowered their target price on American Tower from $254.00 to $248.00 and set a “buy” rating on the stock in a research report on Wednesday, February 25th. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $216.20.

American Tower Price Performance

NYSE:AMT opened at $187.20 on Monday. 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 stock’s 50-day simple moving average is $181.01 and its 200 day simple moving average is $179.92. The company has a market cap 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. American Tower Corporation has a 52-week low of $165.08 and a 52-week high of $234.33.

American Tower (NYSE:AMT) last announced its quarterly earnings results on Tuesday, April 28th. The real estate investment trust reported $2.84 earnings per share for the quarter, topping analysts’ consensus estimates of $1.60 by $1.24. The firm had revenue of $2.74 billion for the quarter, compared to the consensus estimate of $2.66 billion. American Tower had a return on equity of 27.79% and a net margin of 26.81%.The business’s revenue was up 6.8% compared to the same quarter last year. During the same quarter 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. As a group, sell-side analysts forecast that American Tower Corporation will post 10.67 EPS for the current fiscal year.

American Tower Announces Dividend

The firm 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 dividend of $1.79 per share. This represents a $7.16 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date of this dividend is Friday, June 12th. American Tower’s payout ratio is 115.67%.

Insiders Place Their Bets

In other American Tower news, EVP Ruth T. Dowling sold 556 shares of the business’s stock in a transaction that occurred on Tuesday, April 28th. The stock was sold at an average price of $178.48, for a total transaction of $99,234.88. Following the transaction, the executive vice president owned 29,877 shares of the company’s stock, valued at $5,332,446.96. The trade was a 1.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, 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 currently owned by company insiders.

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.