Atlantic Union Bankshares Corp Trims Stake in American Tower Corporation $AMT

Atlantic Union Bankshares Corp reduced its stake in American Tower Corporation (NYSE:AMT) by 20.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,000 shares of the real estate investment trust’s stock after selling 8,859 shares during the period. Atlantic Union Bankshares Corp’s holdings in American Tower were worth $6,145,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in AMT. Oakworth Capital Inc. boosted its stake in shares of 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. Richards Merrill & Peterson Inc. purchased a new position in shares of American Tower in the fourth quarter worth $25,000. Triumph Capital Management purchased a new position in shares of American Tower in the third quarter worth $29,000. Holos Integrated Wealth LLC purchased a new position in shares of American Tower in the fourth quarter worth $27,000. Finally, Root Financial Partners LLC purchased a new position in shares of American Tower during the third quarter worth $32,000. 92.69% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, Director Rajesh Kalathur purchased 2,671 shares of the stock in a transaction on Tuesday, March 10th. The stock was bought at an average price of $185.30 per share, for a total transaction of $494,936.30. Following the acquisition, the director directly owned 4,936 shares of the company’s stock, valued at approximately $914,640.80. The trade was a 117.92% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, 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 transaction of $7,872,979.45. Following the transaction, the chief operating officer 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 disclosure for this sale is available in the SEC filing. Insiders sold 42,181 shares of company stock worth $8,046,071 in the last 90 days. Corporate insiders own 0.08% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on AMT. Royal Bank Of Canada reissued a “sector perform” rating and set a $195.00 target price on shares of American Tower in a report on Thursday, April 30th. JPMorgan Chase & Co. dropped their target price on shares of American Tower from $245.00 to $240.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 29th. Raymond James Financial reiterated a “strong-buy” rating and issued a $240.00 target price on shares of American Tower in a research report on Wednesday, April 29th. Mizuho upgraded shares of American Tower from a “neutral” rating to an “outperform” rating and boosted their price target for the stock from $189.00 to $205.00 in a research report on Wednesday, April 15th. Finally, Jefferies Financial Group boosted their price target on shares of American Tower from $209.00 to $210.00 and gave the stock a “buy” rating in a research report on Tuesday, April 14th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $218.05.

American Tower Trading Down 2.7%

Shares of AMT stock opened at $174.04 on Thursday. 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 has a market capitalization of $81.08 billion, a P/E ratio of 28.12, a price-to-earnings-growth ratio of 0.75 and a beta of 0.90. The company has a 50 day moving average price of $178.60 and a 200 day moving average price of $179.32. American Tower Corporation has a fifty-two week low of $165.08 and a fifty-two week high of $234.33.

American Tower (NYSE:AMT) last announced its quarterly earnings data on Tuesday, April 28th. The real estate investment trust reported $2.84 earnings per share for the quarter, beating analysts’ consensus estimates of $1.60 by $1.24. The firm had revenue of $2.74 billion during the quarter, compared to analysts’ expectations of $2.66 billion. American Tower had a net margin of 26.81% and a return on equity of 27.79%. The business’s quarterly revenue was up 6.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.75 earnings per share. American Tower has set its FY 2026 guidance at 10.900-11.07 EPS. Equities research analysts predict that American Tower Corporation will post 10.67 EPS for the current fiscal year.

American Tower Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 28th. Shareholders of record on Tuesday, April 14th were issued a dividend of $1.79 per share. This is a boost from American Tower’s previous quarterly dividend of $1.70. The ex-dividend date was Tuesday, April 14th. This represents a $7.16 annualized dividend and a yield of 4.1%. American Tower’s dividend payout ratio (DPR) is presently 115.67%.

American Tower Company 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.