8,679 American Tower Corporation $AMT Shares Sold by McCollum Christoferson Group LLC

McCollum Christoferson Group LLC lowered its holdings in American Tower Corporation (NYSE:AMT) by 24.8% during the third quarter, Holdings Channel reports. The fund owned 26,383 shares of the real estate investment trust’s stock after selling 8,679 shares during the quarter. McCollum Christoferson Group LLC’s holdings in American Tower were worth $4,319,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in AMT. Fermata Advisors LLC acquired a new position in American Tower during the third quarter valued at $281,000. NorthCrest Asset Manangement LLC raised its stake in shares of American Tower by 411.4% during the 3rd quarter. NorthCrest Asset Manangement LLC now owns 6,980 shares of the real estate investment trust’s stock valued at $1,164,000 after buying an additional 5,615 shares during the last quarter. Avior Wealth Management LLC purchased a new position in shares of American Tower during the 3rd quarter valued at about $234,000. Valley Wealth Managers Inc. lifted its holdings in shares of American Tower by 3.2% in the 3rd quarter. Valley Wealth Managers Inc. now owns 27,418 shares of the real estate investment trust’s stock valued at $4,488,000 after buying an additional 842 shares during the period. Finally, Sound Income Strategies LLC lifted its holdings in shares of American Tower by 14.5% in the 3rd quarter. Sound Income Strategies LLC now owns 118,811 shares of the real estate investment trust’s stock valued at $19,809,000 after buying an additional 15,083 shares during the period. Hedge funds and other institutional investors own 92.69% of the company’s stock.

American Tower Stock Performance

AMT traded down $1.53 on Tuesday, reaching $181.03. The stock had a trading volume of 1,191,938 shares, compared to its average volume of 3,069,223. American Tower Corporation has a 12-month low of $160.06 and a 12-month high of $196.08. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 3.12. The business’s 50-day moving average price is $172.80 and its two-hundred day moving average price is $175.05. The company has a market cap of $84.35 billion, a P/E ratio of 24.90, a price-to-earnings-growth ratio of 2.93 and a beta of 0.88.

American Tower (NYSE:AMT) last issued its quarterly earnings data on Tuesday, July 28th. The real estate investment trust reported $2.71 earnings per share for the quarter, topping analysts’ consensus estimates of $1.57 by $1.14. American Tower had a net margin of 31.08% and a return on equity of 32.76%. The business had revenue of $2.75 billion during the quarter, compared to the consensus estimate of $2.70 billion. During the same quarter in the prior year, the firm posted $2.60 earnings per share. The company’s revenue was up 4.6% compared to the same quarter last year. American Tower has set its FY 2026 guidance at 11.000-11.170 EPS. Sell-side analysts forecast that American Tower Corporation will post 10.80 earnings per share for the current year.

American Tower Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 20th. Investors of record on Wednesday, September 30th will be paid a $1.79 dividend. This represents a $7.16 annualized dividend and a dividend yield of 4.0%. The ex-dividend date is Wednesday, September 30th. American Tower’s payout ratio is currently 98.49%.

Analyst Ratings Changes

A number of analysts have recently commented on AMT shares. Barclays upped their target price on American Tower from $198.00 to $199.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 30th. Scotiabank reiterated an “outperform” rating on shares of American Tower in a research report on Wednesday, July 29th. Royal Bank Of Canada raised American Tower from a “sector perform” rating to an “outperform” rating and boosted their price target for the company from $195.00 to $205.00 in a report on Friday, June 26th. TD Cowen boosted their price target on American Tower from $225.00 to $227.00 and gave the company a “buy” rating in a report on Wednesday, July 29th. Finally, Weiss Ratings lowered American Tower from a “hold (c)” rating to a “hold (c-)” rating in a research report on Thursday. One research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $215.48.

Insider Buying and Selling

In other American Tower news, Director Rajesh Kalathur acquired 2,829 shares of the business’s stock in a transaction dated Friday, August 21st. The stock was acquired at an average cost of $177.00 per share, for a total transaction of $500,733.00. Following the completion of the transaction, the director directly owned 7,765 shares of the company’s stock, valued at $1,374,405. This represents a 57.31% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Robert Joseph Meyer sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 29th. The stock was sold at an average price of $178.89, for a total value of $894,450.00. Following the transaction, the chief financial officer directly owned 21,428 shares of the company’s stock, valued at approximately $3,833,254.92. The trade was a 18.92% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 6,791 shares of company stock valued at $1,204,091. 0.08% of the stock is owned by company insiders.

About American Tower

American Tower Corporation (NYSE: AMT) is a global real estate investment trust that owns, operates and develops communications infrastructure. Its portfolio includes wireless and broadcast towers, rooftop sites, distributed antenna systems and other facilities that support wireless communications, television and radio broadcasting, government communications and other connectivity services.

The company leases space on its communications sites to wireless carriers, broadcasters, government agencies and other customers.