American Tower (NYSE:AMT) EVP Sells $193,505.76 in Stock

American Tower Corporation (NYSE:AMT) EVP Ruth Dowling sold 1,106 shares of the stock in a transaction on Wednesday, July 29th. The stock was sold at an average price of $174.96, for a total value of $193,505.76. Following the transaction, the executive vice president owned 27,711 shares of the company’s stock, valued at $4,848,316.56. The trade was a 3.84% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

American Tower Trading Down 0.4%

Shares of American Tower stock opened at $173.82 on Friday. The stock has a market capitalization of $80.98 billion, a P/E ratio of 23.91, a P/E/G ratio of 2.78 and a beta of 0.91. The company has a debt-to-equity ratio of 3.12, a quick ratio of 0.43 and a current ratio of 0.52. The stock’s 50-day simple moving average is $175.87 and its 200 day simple moving average is $178.39. American Tower Corporation has a 52-week low of $160.06 and a 52-week high of $217.39.

American Tower Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, July 13th. Investors of record on Friday, June 12th were paid a dividend of $1.79 per share. This represents a $7.16 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date was Friday, June 12th. American Tower’s dividend payout ratio is presently 98.49%.

Trending Headlines about American Tower

Here are the key news stories impacting American Tower this week:

• Positive Sentiment: Analysts raised their valuation expectations for American Tower. One firm lifted its price target to $220, while BMO Capital Markets increased its target to $195, suggesting potential upside from recent trading levels. American Tower Price Target Raised to $220 BMO Raises American Tower Price Target
• Positive Sentiment: American Tower’s latest results were stronger than expected, with revenue up 6.8% year over year to $2.74 billion and EPS of $2.84 versus the $1.60 consensus estimate. Record CoreSite data-center leasing and continued demand from cloud and artificial-intelligence infrastructure provide additional growth support.
• Neutral Sentiment: EVP Ruth Dowling sold 1,791 shares across two transactions for approximately $309,641 under a pre-arranged Rule 10b5-1 plan. Because the sales were scheduled and she retained a sizable stake, the transactions are a limited signal about management’s outlook. SEC Insider Trading Filing
• Negative Sentiment: CFO Robert Joseph Meyer sold 5,000 shares worth approximately $894,450, reducing his ownership by 18.92%. Although the sale does not necessarily indicate deteriorating fundamentals, the larger transaction may weigh on investor sentiment. CFO SEC Insider Trading Filing
• Negative Sentiment: American Tower remains highly leveraged, with a debt-to-equity ratio of 3.12, making it sensitive to higher interest rates. Rising borrowing costs can pressure REIT valuations and reduce the appeal of its approximately 4.1% dividend yield.

Hedge Funds Weigh In On American Tower

Several hedge funds have recently bought and sold shares of AMT. J. Stern & Co. LLP lifted its stake in American Tower by 28,121.1% in the 4th 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 in the last quarter. State Street Corp grew its position in shares of American Tower by 0.3% during the 4th 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 purchasing an additional 71,605 shares in the last quarter. Geode Capital Management LLC grew its position in shares of American Tower by 1.7% during the 4th quarter. Geode Capital Management LLC now owns 13,499,035 shares of the real estate investment trust’s stock valued at $2,361,675,000 after purchasing an additional 227,361 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its holdings in shares of American Tower by 20,721.6% in 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 purchasing an additional 9,666,025 shares during the period. Finally, Lazard Asset Management LLC increased its holdings in shares of American Tower by 20.4% in the first quarter. Lazard Asset Management LLC now owns 7,325,943 shares of the real estate investment trust’s stock worth $1,264,311,000 after purchasing an additional 1,240,780 shares during the period. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Wolfe Research upgraded shares of American Tower from a “peer perform” rating to an “outperform” rating and set a $188.00 price objective for the company in a research note on Wednesday, July 8th. Weiss Ratings raised American Tower from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, July 14th. Raymond James Financial reiterated a “strong-buy” rating and issued a $240.00 price target on shares of American Tower in a research report on Wednesday, April 29th. TD Cowen boosted their price objective on American Tower from $225.00 to $227.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, Barclays decreased their price objective on American Tower from $200.00 to $195.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 16th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, American Tower currently has an average rating of “Moderate Buy” and a consensus target price of $215.19.

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.