River Road Asset Management LLC Decreases Stock Position in American Tower Corporation $AMT

River Road Asset Management LLC cut its position in American Tower Corporation (NYSE:AMT) by 17.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 69,234 shares of the real estate investment trust’s stock after selling 14,190 shares during the period. River Road Asset Management LLC’s holdings in American Tower were worth $12,155,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in AMT. CIBC Bancorp USA Inc. purchased a new stake in American Tower during the 3rd quarter valued at about $35,633,000. Nordea Investment Management AB grew its position in shares of American Tower by 10.4% in the fourth quarter. Nordea Investment Management AB now owns 1,743,321 shares of the real estate investment trust’s stock valued at $306,284,000 after purchasing an additional 164,645 shares in the last quarter. Rathbones Group PLC grew its position in shares of American Tower by 14.9% in the fourth quarter. Rathbones Group PLC now owns 474,216 shares of the real estate investment trust’s stock valued at $83,258,000 after purchasing an additional 61,428 shares in the last quarter. Legal & General Group Plc increased its holdings in shares of American Tower by 4.7% in 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 purchasing an additional 220,447 shares during the last quarter. Finally, Clearstead Trust LLC lifted its position in American Tower by 69.0% during the third quarter. Clearstead Trust LLC now owns 24,477 shares of the real estate investment trust’s stock worth $4,707,000 after buying an additional 9,990 shares in the last quarter. 92.69% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

AMT has been the topic of several analyst reports. Citizens Jmp reiterated a “market outperform” rating and set a $260.00 price target on shares of American Tower in a report on Wednesday, April 29th. Weiss Ratings upgraded shares of American Tower from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, May 11th. Morgan Stanley reduced their target price on shares of American Tower from $225.00 to $220.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 25th. BMO Capital Markets boosted their target price on shares of American Tower from $185.00 to $200.00 and gave the company a “market perform” rating in a report on Wednesday, February 25th. Finally, JPMorgan Chase & Co. dropped their price target on shares of American Tower from $245.00 to $240.00 and set an “overweight” rating for the company in a research note on Wednesday, April 29th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $216.20.

Insiders Place Their Bets

In other American Tower news, EVP Ruth T. Dowling sold 556 shares of the business’s stock in a transaction dated Tuesday, April 28th. The shares were sold at an average price of $178.48, for a total transaction of $99,234.88. Following the sale, the executive vice president directly owned 29,877 shares in the company, valued at $5,332,446.96. This represents a 1.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.08% of the stock is currently owned by corporate insiders.

American Tower Stock Down 0.2%

NYSE:AMT opened at $175.66 on Friday. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 3.07. The stock’s fifty day moving average is $181.59 and its two-hundred day moving average is $179.91. American Tower Corporation has a 52 week low of $165.08 and a 52 week high of $234.33. The stock has a market capitalization of $81.84 billion, a price-to-earnings ratio of 28.38, a price-to-earnings-growth ratio of 0.74 and a beta of 0.90.

American Tower (NYSE:AMT) last issued its quarterly earnings data on Tuesday, April 28th. The real estate investment trust reported $2.84 earnings per share for the quarter, beating analysts’ consensus estimates of $1.60 by $1.24. The business 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%.The company’s revenue was up 6.8% on a year-over-year basis. During the same period in the previous year, the firm posted $2.75 earnings per share. American Tower has set its FY 2026 guidance at 10.900-11.07 EPS. Research analysts anticipate that American Tower Corporation will post 10.66 EPS for the current 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 given a $1.79 dividend. This represents a $7.16 annualized dividend and a yield of 4.1%. The ex-dividend date of this dividend is Friday, June 12th. American Tower’s payout ratio is currently 115.67%.

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.