Bartlett & CO. Wealth Management LLC Cuts Position in American Tower Corporation $AMT

Bartlett & CO. Wealth Management LLC decreased its position in American Tower Corporation (NYSE:AMT) by 49.3% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 30,481 shares of the real estate investment trust’s stock after selling 29,635 shares during the quarter. Bartlett & CO. Wealth Management LLC’s holdings in American Tower were worth $5,513,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Richards Merrill & Peterson Inc. purchased a new position in shares of American Tower in the fourth quarter valued at $25,000. Oakworth Capital Inc. raised its stake 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 valued at $25,000 after purchasing an additional 68 shares in the last quarter. Swiss RE Ltd. purchased a new stake in American Tower during the fourth quarter valued at $25,000. Holos Integrated Wealth LLC bought a new position in American Tower during the fourth quarter valued at $27,000. Finally, Triumph Capital Management bought a new position in American Tower during the third quarter valued at $29,000. 92.69% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently weighed in on AMT shares. Wolfe Research upgraded shares of American Tower from a “peer perform” rating to an “outperform” rating and set a $188.00 target price on the stock in a report on Wednesday, July 8th. Sanford C. Bernstein raised shares of American Tower from a “market perform” rating to an “outperform” rating and set a $207.00 price target for the company in a report on Tuesday, May 19th. The Goldman Sachs Group began coverage on American Tower in a research report on Friday, June 26th. They issued a “buy” rating and a $215.00 price target for the company. Truist Financial boosted their price objective on American Tower from $205.00 to $208.00 and gave the stock a “buy” rating in a research note on Thursday, April 30th. Finally, Weiss Ratings upgraded American Tower from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $215.57.

American Tower Trading Up 0.7%

AMT opened at $170.13 on Friday. The company has a debt-to-equity ratio of 3.07, a quick ratio of 0.43 and a current ratio of 0.43. The stock’s 50 day moving average price is $177.64 and its 200-day moving average price is $178.70. American Tower Corporation has a one year low of $160.06 and a one year high of $234.33. The stock has a market cap of $79.26 billion, a price-to-earnings ratio of 27.48, a P/E/G ratio of 0.71 and a beta of 0.91.

American Tower (NYSE:AMT) last issued its quarterly earnings results on Tuesday, April 28th. The real estate investment trust reported $2.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.60 by $1.24. American Tower had a return on equity of 27.79% and a net margin of 26.81%.The firm had revenue of $2.74 billion during the quarter, compared to analyst estimates of $2.66 billion. During the same period last year, the company earned $2.75 EPS. American Tower’s quarterly revenue was up 6.8% compared to the same quarter last year. American Tower has set its FY 2026 guidance at 10.900-11.07 EPS. On average, equities analysts forecast that American Tower Corporation will post 10.66 EPS for the current year.

American Tower Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, July 13th. Stockholders of record on Friday, June 12th were given a dividend of $1.79 per share. This represents a $7.16 annualized dividend and a dividend yield of 4.2%. The ex-dividend date was Friday, June 12th. American Tower’s dividend payout ratio (DPR) is 115.67%.

Insider Buying and Selling at American Tower

In other news, EVP Ruth T. Dowling sold 416 shares of the business’s stock in a transaction on Wednesday, April 29th. The shares were sold at an average price of $177.54, for a total transaction of $73,856.64. Following the completion of the sale, the executive vice president directly owned 29,461 shares of the company’s stock, valued at approximately $5,230,505.94. The trade was a 1.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.08% of the company’s stock.

American Tower 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.