Mackenzie Financial Corp Sells 95,225 Shares of American Tower Corporation $AMT

Mackenzie Financial Corp trimmed its stake in American Tower Corporation (NYSE:AMT) by 15.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 538,386 shares of the real estate investment trust’s stock after selling 95,225 shares during the period. Mackenzie Financial Corp owned about 0.12% of American Tower worth $103,542,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the stock. Norges Bank bought a new stake in shares of American Tower in the 2nd quarter worth about $1,371,875,000. JPMorgan Chase & Co. boosted its position in American Tower by 24.3% in the second quarter. JPMorgan Chase & Co. now owns 12,666,082 shares of the real estate investment trust’s stock valued at $2,799,458,000 after buying an additional 2,474,328 shares in the last quarter. Viking Global Investors LP increased its stake in shares of American Tower by 233.5% in the second quarter. Viking Global Investors LP now owns 2,797,125 shares of the real estate investment trust’s stock valued at $618,221,000 after buying an additional 1,958,329 shares in the last quarter. Invesco Ltd. raised its holdings in shares of American Tower by 11.9% in the second quarter. Invesco Ltd. now owns 6,680,524 shares of the real estate investment trust’s stock valued at $1,476,529,000 after buying an additional 708,808 shares during the last quarter. Finally, Vanguard Group Inc. lifted its position in American Tower by 1.0% during the 3rd quarter. Vanguard Group Inc. now owns 63,640,168 shares of the real estate investment trust’s stock worth $12,239,277,000 after buying an additional 611,801 shares in the last quarter. 92.69% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at American Tower

In other news, COO Eugene M. Noel sold 41,209 shares of the firm’s stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $191.05, for a total value of $7,872,979.45. Following the transaction, the chief operating officer directly owned 29,592 shares in the company, valued at $5,653,551.60. This trade represents a 58.20% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.17% of the stock is currently owned by company insiders.

American Tower Stock Down 1.8%

Shares of NYSE AMT opened at $182.82 on Thursday. American Tower Corporation has a 1 year low of $166.88 and a 1 year high of $234.33. The firm’s 50-day moving average is $181.14 and its 200-day moving average is $184.47. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 3.27. The firm has a market capitalization of $85.21 billion, a PE ratio of 33.92, a price-to-earnings-growth ratio of 0.78 and a beta of 0.92.

American Tower (NYSE:AMT) last posted its quarterly earnings results on Tuesday, February 24th. The real estate investment trust reported $1.75 earnings per share for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $2.69 billion. During the same period last year, the firm earned $2.62 earnings per share. The company’s quarterly revenue was up 7.5% on a year-over-year basis. American Tower has set its FY 2026 guidance at 10.780-10.950 EPS. Equities analysts expect that American Tower Corporation will post 10.14 EPS for the current year.

American Tower Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 28th. Stockholders of record on Tuesday, April 14th will be paid a $1.79 dividend. This is an increase from American Tower’s previous quarterly dividend of $1.70. The ex-dividend date of this dividend is Tuesday, April 14th. This represents a $7.16 dividend on an annualized basis and a dividend yield of 3.9%. American Tower’s dividend payout ratio (DPR) is currently 132.84%.

Wall Street Analyst Weigh In

AMT has been the topic of a number of research analyst reports. The Goldman Sachs Group decreased their price objective on shares of American Tower from $230.00 to $210.00 and set a “buy” rating on the stock in a report on Friday, January 16th. Raymond James Financial reduced their target price on shares of American Tower from $231.00 to $229.00 and set a “strong-buy” rating on the stock in a research report on Friday, January 23rd. TD Cowen lowered their price target on shares of American Tower from $235.00 to $225.00 in a report on Wednesday, February 25th. UBS Group dropped their price objective on shares of American Tower from $254.00 to $248.00 and set a “buy” rating for the company in a research report on Wednesday, February 25th. Finally, Barclays reaffirmed 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 investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus 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.