Great Lakes Advisors LLC Trims Stock Holdings in American Tower Corporation $AMT

Great Lakes Advisors LLC lowered its position in American Tower Corporation (NYSE:AMT) by 2.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 431,047 shares of the real estate investment trust’s stock after selling 12,435 shares during the quarter. Great Lakes Advisors LLC owned approximately 0.09% of American Tower worth $75,680,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in AMT. Richards Merrill & Peterson Inc. purchased a new stake in American Tower in the fourth quarter valued at approximately $25,000. Oakworth Capital Inc. raised its stake in shares of American Tower by 90.7% during the fourth quarter. Oakworth Capital Inc. now owns 143 shares of the real estate investment trust’s stock worth $25,000 after purchasing an additional 68 shares during the last quarter. Holos Integrated Wealth LLC purchased a new stake in shares of American Tower during the fourth quarter worth approximately $27,000. Triumph Capital Management purchased a new stake in shares of American Tower during the third quarter worth approximately $29,000. Finally, Lloyd Advisory Services LLC. purchased a new stake in shares of American Tower during the fourth quarter worth approximately $30,000. Hedge funds and other institutional investors own 92.69% of the company’s stock.

American Tower Stock Down 1.5%

American Tower stock opened at $189.65 on Friday. 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 capitalization of $88.35 billion, a price-to-earnings ratio of 30.64, a price-to-earnings-growth ratio of 0.80 and a beta of 0.90. American Tower Corporation has a fifty-two week low of $165.08 and a fifty-two week high of $234.33. The stock’s fifty day moving average is $180.69 and its two-hundred day moving average is $179.87.

American Tower (NYSE:AMT) last posted its earnings results 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 for the quarter, compared to analyst estimates 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 was up 6.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.75 earnings per share. American Tower has set its FY 2026 guidance at 10.900-11.07 EPS. Analysts predict that American Tower Corporation will post 10.67 EPS for the current fiscal year.

American Tower Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 13th. Shareholders of record on Friday, June 12th will be issued a $1.79 dividend. The ex-dividend date of this dividend is Friday, June 12th. This represents a $7.16 annualized dividend and a yield of 3.8%. American Tower’s dividend payout ratio is 115.67%.

Analysts Set New Price Targets

AMT has been the subject of several analyst reports. Sanford C. Bernstein upgraded American Tower from a “market perform” rating to an “outperform” rating and set a $207.00 price target for the company in a research note on Tuesday, May 19th. Barclays cut their price target on American Tower from $200.00 to $195.00 and set an “equal weight” rating for the company in a research note on Thursday, April 16th. Royal Bank Of Canada restated a “sector perform” rating and set a $195.00 price target on shares of American Tower in a research note on Thursday, April 30th. UBS Group cut their price target on American Tower from $254.00 to $248.00 and set a “buy” rating for the company in a research note on Wednesday, February 25th. Finally, Scotiabank upped their price target on American Tower from $214.00 to $218.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 29th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $216.20.

Insiders Place Their Bets

In other American Tower news, EVP Ruth T. Dowling sold 416 shares of the company’s stock in a transaction on Wednesday, April 29th. The stock was sold at an average price of $177.54, for a total value of $73,856.64. Following the sale, the executive vice president owned 29,461 shares of the company’s stock, valued at approximately $5,230,505.94. This represents a 1.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, 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.

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.