Insider Selling: American Tower (NYSE:AMT) COO Sells 41,209 Shares of Stock

American Tower Corporation (NYSE:AMT) COO Eugene Noel sold 41,209 shares of the business’s stock in a transaction 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 transaction, the chief operating officer directly owned 29,592 shares of the company’s stock, valued at $5,653,551.60. This trade represents a 58.20% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

American Tower Trading Up 0.3%

American Tower stock traded up $0.48 during mid-day trading on Wednesday, hitting $190.73. 2,457,185 shares of the company’s stock were exchanged, compared to its average volume of 3,220,320. American Tower Corporation has a fifty-two week low of $166.88 and a fifty-two week high of $234.33. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 3.27. The firm has a market capitalization of $89.29 billion, a P/E ratio of 35.39, a PEG ratio of 0.80 and a beta of 0.92. The company’s 50 day simple moving average is $179.78 and its 200-day simple moving average is $185.19.

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

American Tower Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, February 2nd. Shareholders of record on Monday, December 29th were issued a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a yield of 3.6%. The ex-dividend date was Monday, December 29th. American Tower’s dividend payout ratio (DPR) is 126.16%.

Hedge Funds Weigh In On American Tower

A number of large investors have recently modified their holdings of the business. Legacy Investment Solutions LLC acquired a new stake in shares of American Tower in the second quarter valued at about $31,000. Abound Wealth Management increased its position in shares of American Tower by 137.3% during the 3rd quarter. Abound Wealth Management now owns 140 shares of the real estate investment trust’s stock worth $27,000 after purchasing an additional 81 shares during the last quarter. Oakworth Capital Inc. raised its stake in shares of American Tower by 90.7% during the 4th 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 in the last quarter. Richards Merrill & Peterson Inc. acquired a new stake in shares of American Tower in the 4th quarter valued at approximately $25,000. Finally, Swiss RE Ltd. bought a new position in shares of American Tower in the fourth quarter valued at $25,000. 92.69% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on AMT. New Street Research raised shares of American Tower from a “neutral” rating to a “buy” rating and set a $203.00 price objective for the company in a research report on Monday, January 5th. UBS Group reduced their target price on shares of American Tower from $254.00 to $248.00 and set a “buy” rating for the company in a research note on Wednesday, February 25th. Scotiabank dropped their price target on American Tower from $220.00 to $214.00 and set a “sector outperform” rating on the stock in a research note on Wednesday, February 25th. Morgan Stanley cut their price target on American Tower from $225.00 to $220.00 and set an “overweight” rating on the stock in a report on Wednesday, February 25th. Finally, Barclays reiterated an “equal weight” rating and set a $200.00 price objective (down from $203.00) on shares of American Tower in a report on Monday, December 1st. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $218.00.

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.