QRG Capital Management Inc. Has $1.24 Million Stake in American Tower Corporation $AMT

QRG Capital Management Inc. decreased its stake in shares of American Tower Corporation (NYSE:AMT) by 67.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,199 shares of the real estate investment trust’s stock after selling 15,174 shares during the period. QRG Capital Management Inc.’s holdings in American Tower were worth $1,242,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of AMT. J. Stern & Co. LLP increased its position in American Tower by 28,121.1% in the fourth quarter. J. Stern & Co. LLP now owns 37,686,978 shares of the real estate investment trust’s stock worth $6,616,703,000 after purchasing an additional 37,553,436 shares during the period. State Street Corp lifted its stake in American Tower by 0.3% in the fourth quarter. State Street Corp now owns 20,987,534 shares of the real estate investment trust’s stock valued at $3,719,634,000 after buying an additional 71,605 shares in the last quarter. Geode Capital Management LLC boosted its stake in American Tower by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 13,499,035 shares of the real estate investment trust’s stock worth $2,361,675,000 after purchasing an additional 227,361 shares during the period. Northwestern Mutual Wealth Management Co. grew its holdings in shares of American Tower by 20,721.6% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 9,712,672 shares of the real estate investment trust’s stock worth $1,705,254,000 after buying an additional 9,666,025 shares in the last quarter. Finally, Invesco Ltd. grew its stake in shares of American Tower by 0.9% during the 4th quarter. Invesco Ltd. now owns 6,948,190 shares of the real estate investment trust’s stock worth $1,219,894,000 after acquiring an additional 59,557 shares in the last quarter. 92.69% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Citizens Jmp reissued a “market outperform” rating and set a $260.00 price target on shares of American Tower in a research report on Wednesday, April 29th. The Goldman Sachs Group assumed coverage on American Tower in a research note on Friday, June 26th. They set a “buy” rating and a $215.00 target price for the company. Jefferies Financial Group increased their price target on shares of American Tower from $209.00 to $210.00 and gave the company a “buy” rating in a report on Tuesday, April 14th. Barclays dropped their target price on American Tower from $200.00 to $195.00 and set an “equal weight” rating for the company in a report on Thursday, April 16th. Finally, 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. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, American Tower presently has a consensus rating of “Moderate Buy” and an average price target of $216.95.

American Tower Trading Up 1.8%

NYSE AMT opened at $165.11 on Wednesday. The company has a market cap of $76.92 billion, a price-to-earnings ratio of 26.67, a price-to-earnings-growth ratio of 0.68 and a beta of 0.91. 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 business’s fifty day moving average is $179.33 and its 200 day moving average is $179.08. American Tower Corporation has a twelve month low of $160.06 and a twelve month high of $234.33.

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 (EPS) for the quarter, beating analysts’ consensus estimates of $1.60 by $1.24. American Tower had a net margin of 26.81% and a return on equity of 27.79%. The business had revenue of $2.74 billion during the quarter, compared to analyst estimates of $2.66 billion. During the same quarter last year, the business earned $2.75 EPS. The firm’s quarterly revenue was up 6.8% on a year-over-year basis. American Tower has set its FY 2026 guidance at 10.900-11.07 EPS. As a group, sell-side analysts expect that American Tower Corporation will post 10.66 EPS for the current fiscal year.

American Tower Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, July 13th. Stockholders of record on Friday, June 12th will be paid a $1.79 dividend. The ex-dividend date of this dividend is Friday, June 12th. This represents a $7.16 annualized dividend and a dividend yield of 4.3%. American Tower’s dividend payout ratio is presently 115.67%.

Insider Transactions at American Tower

In other news, EVP Ruth T. Dowling sold 556 shares of the business’s 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 transaction, the executive vice president owned 29,877 shares in the company, valued at approximately $5,332,446.96. The trade was a 1.83% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.08% of the company’s stock.

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.