King Luther Capital Management Corp Sells 9,044 Shares of American Tower Corporation $AMT

by · The Cerbat Gem

King Luther Capital Management Corp reduced its holdings in shares of American Tower Corporation (NYSE:AMT – Free Report) by 4.0% in the 4th quarter, HoldingsChannel.com reports. The fund owned 215,086 shares of the real estate investment trust’s stock after selling 9,044 shares during the quarter. King Luther Capital Management Corp’s holdings in American Tower were worth $37,763,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. GS Investments Inc. boosted its stake in shares of American Tower by 3.9% during the 4th quarter. GS Investments Inc. now owns 4,773 shares of the real estate investment trust’s stock worth $838,000 after acquiring an additional 180 shares during the period. Poinciana Advisors Group LLC acquired a new position in shares of American Tower in the fourth quarter valued at approximately $241,000. Integrity Alliance LLC. grew its position in shares of American Tower by 17.6% in the fourth quarter. Integrity Alliance LLC. now owns 1,849 shares of the real estate investment trust’s stock valued at $325,000 after purchasing an additional 277 shares during the last quarter. AlphaQuest LLC grew its position in shares of American Tower by 64.0% in the fourth quarter. AlphaQuest LLC now owns 14,093 shares of the real estate investment trust’s stock valued at $2,474,000 after purchasing an additional 5,501 shares during the last quarter. Finally, Smithfield Trust Co grew its position in shares of American Tower by 3.8% in the fourth quarter. Smithfield Trust Co now owns 3,965 shares of the real estate investment trust’s stock valued at $697,000 after purchasing an additional 146 shares during the last quarter. 92.69% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on AMT shares. Barclays decreased their target price on American Tower from $200.00 to $195.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 16th. TD Cowen decreased their target price on American Tower from $235.00 to $225.00 in a research report on Wednesday, February 25th. Morgan Stanley decreased their target price on American Tower from $225.00 to $220.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 25th. BMO Capital Markets upped their target price on American Tower from $185.00 to $200.00 and gave the company a “market perform” rating in a research report on Wednesday, February 25th. Finally, Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $195.00 target price on shares of American Tower in a research report on Thursday, April 30th. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, American Tower presently has a consensus rating of “Moderate Buy” and a consensus target price of $216.20.

View Our Latest Stock Report on AMT

Insider Activity at American Tower

In related news, COO Eugene M. Noel sold 41,209 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the chief operating officer directly owned 29,592 shares in the company, valued at approximately $5,653,551.60. The trade was a 58.20% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Rajesh Kalathur purchased 2,671 shares of the business’s stock in a transaction that occurred on Tuesday, March 10th. The stock was bought 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. This trade represents a 117.92% increase in their position. The SEC filing for this purchase provides additional information. Over the last ninety days, insiders sold 42,181 shares of company stock worth $8,046,071. Company insiders own 0.08% of the company’s stock.

American Tower Trading Up 0.8%

Shares of AMT stock opened at $185.36 on Wednesday. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 3.07. The stock has a market cap of $86.36 billion, a P/E ratio of 29.95, a price-to-earnings-growth ratio of 0.77 and a beta of 0.90. The stock has a 50 day simple moving average of $177.50 and a 200 day simple moving average of $179.20. American Tower Corporation has a 1 year low of $165.08 and a 1 year high of $234.33.

American Tower (NYSE:AMT – Get Free Report) 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, beating the consensus estimate of $1.60 by $1.24. The business had revenue of $2.74 billion during the quarter, compared to analysts’ expectations of $2.66 billion. American Tower had a return on equity of 27.79% and a net margin of 26.81%.The firm’s revenue for the quarter was up 6.8% compared to the same quarter last year. During the same period in the previous year, the company posted $2.75 earnings per share. American Tower has set its FY 2026 guidance at 10.900-11.07 EPS. On average, research analysts predict that American Tower Corporation will post 10.67 earnings per share for the current fiscal year.

American Tower Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 13th. Investors of record on Friday, June 12th will be paid a $1.79 dividend. This represents a $7.16 annualized dividend and a dividend yield of 3.9%. The ex-dividend date is Friday, June 12th. American Tower’s payout ratio is 115.67%.

American Tower Profile

(Free Report)

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.

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