American Tower Corporation $AMT Shares Sold by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC trimmed its position in shares of American Tower Corporation (NYSE:AMT) by 18.1% in the 4th quarter, Holdings Channel.com reports. The firm owned 48,987 shares of the real estate investment trust’s stock after selling 10,845 shares during the period. Wedge Capital Management L L P NC’s holdings in American Tower were worth $8,601,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Exchange Traded Concepts LLC grew its position in American Tower by 25.7% during the fourth quarter. Exchange Traded Concepts LLC now owns 166,795 shares of the real estate investment trust’s stock valued at $29,284,000 after buying an additional 34,115 shares during the period. Pallas Capital Advisors LLC raised its position in shares of American Tower by 298.7% in the fourth quarter. Pallas Capital Advisors LLC now owns 7,743 shares of the real estate investment trust’s stock worth $1,359,000 after acquiring an additional 5,801 shares during the period. Elevatus Welath Management boosted its stake in shares of American Tower by 37.5% during the 4th quarter. Elevatus Welath Management now owns 1,825 shares of the real estate investment trust’s stock worth $320,000 after acquiring an additional 498 shares in the last quarter. Capital Investment Advisors LLC boosted its stake in shares of American Tower by 4.6% during the 4th quarter. Capital Investment Advisors LLC now owns 4,596 shares of the real estate investment trust’s stock worth $807,000 after acquiring an additional 204 shares in the last quarter. Finally, CoreCap Advisors LLC grew its position in shares of American Tower by 27.2% during the 4th quarter. CoreCap Advisors LLC now owns 529 shares of the real estate investment trust’s stock valued at $93,000 after acquiring an additional 113 shares during the period. 92.69% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, COO Eugene M. Noel sold 41,209 shares of the firm’s stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $191.05, for a total transaction of $7,872,979.45. Following the completion of the sale, the chief operating officer owned 29,592 shares in the company, valued at $5,653,551.60. This trade represents a 58.20% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Rajesh Kalathur purchased 2,671 shares of American Tower stock in a transaction dated Tuesday, March 10th. The shares were purchased at an average cost of $185.30 per share, for a total transaction of $494,936.30. Following the transaction, the director owned 4,936 shares in the company, valued at approximately $914,640.80. This trade represents a 117.92% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 0.17% of the company’s stock.

American Tower Stock Up 0.6%

Shares of NYSE:AMT opened at $170.01 on Friday. American Tower Corporation has a 52-week low of $165.08 and a 52-week high of $234.33. The stock has a market cap of $79.24 billion, a P/E ratio of 31.54, a PEG ratio of 0.71 and a beta of 0.92. The business has a fifty day moving average of $181.70 and a two-hundred day moving average of $182.48. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 3.27.

American Tower (NYSE:AMT) last posted its quarterly earnings results on Tuesday, February 24th. The real estate investment trust reported $1.75 EPS for the quarter, missing the consensus estimate of $2.54 by ($0.79). The company had revenue of $2.74 billion for the quarter, compared to analysts’ expectations of $2.69 billion. American Tower had a return on equity of 24.36% and a net margin of 23.76%.The firm’s revenue was up 7.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.62 EPS. American Tower has set its FY 2026 guidance at 10.780-10.950 EPS. On average, research analysts expect that American Tower Corporation will post 10.14 earnings per share for the current year.

American Tower Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 28th. Shareholders of record on Tuesday, April 14th will be paid a dividend of $1.79 per share. This represents a $7.16 dividend on an annualized basis and a yield of 4.2%. This is a boost from American Tower’s previous quarterly dividend of $1.70. The ex-dividend date of this dividend is Tuesday, April 14th. American Tower’s payout ratio is presently 126.16%.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. The Goldman Sachs Group cut their price target on American Tower from $230.00 to $210.00 and set a “buy” rating for the company in a research note on Friday, January 16th. UBS Group dropped their price objective on American Tower from $254.00 to $248.00 and set a “buy” rating on the stock in a report on Wednesday, February 25th. Raymond James Financial cut their price objective on American Tower from $231.00 to $229.00 and set a “strong-buy” rating for the company in a research report on Friday, January 23rd. Sanford C. Bernstein initiated coverage on American Tower in a research note on Thursday, March 5th. They set a “market perform” rating and a $205.00 target price for the company. Finally, Royal Bank Of Canada dropped their price target on shares of American Tower from $220.00 to $195.00 and set a “sector perform” rating on the stock in a research note on Monday, January 12th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat.com, American Tower presently has a consensus rating of “Moderate Buy” and an average price target of $217.35.

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.