Franklin Resources Inc. Lowers Stock Position in American Tower Corporation $AMT

Franklin Resources Inc. lowered its stake in shares of American Tower Corporation (NYSE:AMT) by 0.7% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 5,338,399 shares of the real estate investment trust’s stock after selling 37,031 shares during the quarter. Franklin Resources Inc.’s holdings in American Tower were worth $937,263,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Oakworth Capital Inc. boosted its position in 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 period. Richards Merrill & Peterson Inc. purchased a new stake in American Tower in the fourth quarter valued at approximately $25,000. Triumph Capital Management purchased a new stake in American Tower in the third quarter valued at approximately $29,000. Holos Integrated Wealth LLC purchased a new position in shares of American Tower during the fourth quarter worth approximately $27,000. Finally, Lloyd Advisory Services LLC. purchased a new position in shares of American Tower during the fourth quarter worth approximately $30,000. Institutional investors own 92.69% of the company’s stock.

American Tower Trading Down 0.1%

AMT stock opened at $193.88 on Monday. The company has a market capitalization of $90.33 billion, a price-to-earnings ratio of 31.32, a PEG ratio of 0.81 and a beta of 0.90. American Tower Corporation has a 1-year low of $165.08 and a 1-year high of $234.33. The business has a 50 day simple moving average of $179.08 and a two-hundred day simple moving average of $179.58. The company has a debt-to-equity ratio of 3.07, a current ratio of 0.43 and a quick ratio of 0.43.

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, topping the consensus estimate of $1.60 by $1.24. American Tower had a return on equity of 27.79% and a net margin of 26.81%.The business had revenue of $2.74 billion for the quarter, compared to analysts’ expectations of $2.66 billion. During the same period in the prior year, the firm earned $2.75 EPS. The company’s revenue for the quarter was up 6.8% on a year-over-year basis. American Tower has set its FY 2026 guidance at 10.900-11.07 EPS. Research analysts anticipate that American Tower Corporation will post 10.67 EPS for the current fiscal year.

American Tower Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 13th. Shareholders of record on Friday, June 12th will be paid a $1.79 dividend. The ex-dividend date is Friday, June 12th. This represents a $7.16 dividend on an annualized basis and a yield of 3.7%. American Tower’s dividend payout ratio (DPR) is presently 115.67%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on AMT shares. TD Cowen cut their target price on shares of American Tower from $235.00 to $225.00 in a report on Wednesday, February 25th. Barclays cut their price target on shares of American Tower from $200.00 to $195.00 and set an “equal weight” rating on the stock in a report on Thursday, April 16th. JPMorgan Chase & Co. dropped their target price on shares of American Tower from $245.00 to $240.00 and set an “overweight” rating on the stock in a report on Wednesday, April 29th. Raymond James Financial reaffirmed a “strong-buy” rating and issued a $240.00 price target on shares of American Tower in a research report on Wednesday, April 29th. Finally, Mizuho raised American Tower from a “neutral” rating to an “outperform” rating and lifted their price target for the stock from $189.00 to $205.00 in a research report on Wednesday, April 15th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, American Tower has a consensus rating of “Moderate Buy” and an average target price of $216.20.

Insiders Place Their Bets

In related news, EVP Ruth T. Dowling sold 556 shares of the firm’s stock in a transaction dated Tuesday, April 28th. The stock was sold at an average price of $178.48, for a total transaction of $99,234.88. Following the sale, the executive vice president owned 29,877 shares of the company’s stock, valued at $5,332,446.96. This trade 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 through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Rajesh Kalathur purchased 2,671 shares of the firm’s stock in a transaction on Tuesday, March 10th. The stock was acquired at an average price of $185.30 per share, with a total value of $494,936.30. Following the completion of the purchase, the director owned 4,936 shares of the company’s stock, valued at $914,640.80. The trade was a 117.92% increase in their position. The disclosure for this purchase is available in the SEC filing. 0.08% of the stock is currently owned by corporate insiders.

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.