Turtle Creek Wealth Advisors LLC Cuts Stock Holdings in American Tower Corporation $AMT

Turtle Creek Wealth Advisors LLC lessened its holdings in American Tower Corporation (NYSE:AMT) by 70.2% during the first quarter, Holdings Channel.com reports. The firm owned 2,212 shares of the real estate investment trust’s stock after selling 5,212 shares during the quarter. Turtle Creek Wealth Advisors LLC’s holdings in American Tower were worth $382,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. J. Stern & Co. LLP grew its holdings in American Tower by 28,121.1% during the fourth 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 acquiring an additional 37,553,436 shares during the period. State Street Corp lifted its holdings in American Tower by 0.3% in the fourth 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 acquiring an additional 71,605 shares during the period. Geode Capital Management LLC lifted its holdings in American Tower by 1.7% in the fourth 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 acquiring an additional 227,361 shares during the period. Northwestern Mutual Wealth Management Co. boosted its position in shares of American Tower by 20,721.6% during the 4th 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 in the last quarter. Finally, Invesco Ltd. grew its stake in shares of American Tower by 0.9% during the 4th quarter. Invesco Ltd. now owns 6,948,190 shares of the real estate investment trust’s stock worth $1,219,894,000 after purchasing an additional 59,557 shares during the period. Institutional investors and hedge funds own 92.69% of the company’s stock.

Insider Buying and Selling at American Tower

In other news, EVP Ruth T. Dowling sold 556 shares of the firm’s stock in a transaction that occurred on Tuesday, April 28th. The shares were sold at an average price of $178.48, for a total transaction of $99,234.88. Following the completion of the transaction, the executive vice president directly owned 29,877 shares of the company’s stock, valued at $5,332,446.96. This trade represents a 1.83% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.08% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. Royal Bank Of Canada upgraded shares of American Tower from a “sector perform” rating to an “outperform” rating and increased their price target for the company from $195.00 to $205.00 in a report on Friday, June 26th. Sanford C. Bernstein raised shares of American Tower from a “market perform” rating to an “outperform” rating and set a $207.00 price objective on the stock in a report on Tuesday, May 19th. Mizuho upgraded shares of American Tower from a “neutral” rating to an “outperform” rating and upped their target price for the stock from $189.00 to $205.00 in a research report on Wednesday, April 15th. Barclays dropped their target price on shares of American Tower from $200.00 to $195.00 and set an “equal weight” rating for the company in a report on Thursday, April 16th. Finally, Raymond James Financial reiterated a “strong-buy” rating and set a $240.00 price target on shares of American Tower in a research report on Wednesday, April 29th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and four have given a Hold rating to the company. According to MarketBeat, American Tower has a consensus rating of “Moderate Buy” and an average target price of $216.95.

American Tower Trading Down 0.1%

NYSE:AMT opened at $165.84 on Friday. The company has a market capitalization of $77.27 billion, a PE ratio of 26.79, a price-to-earnings-growth ratio of 0.69 and a beta of 0.91. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 3.07. American Tower Corporation has a 52-week low of $162.27 and a 52-week high of $234.33. The stock has a fifty day simple moving average of $179.93 and a 200-day simple moving average of $179.30.

American Tower (NYSE:AMT) last released its quarterly earnings data on Tuesday, April 28th. The real estate investment trust reported $2.84 EPS for the quarter, topping the consensus estimate of $1.60 by $1.24. The business had revenue of $2.74 billion for the quarter, compared to analyst estimates of $2.66 billion. American Tower had a net margin of 26.81% and a return on equity of 27.79%. The business’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 firm earned $2.75 EPS. American Tower has set its FY 2026 guidance at 10.900-11.07 EPS. On average, equities research analysts expect that American Tower Corporation will post 10.66 earnings per share for the current fiscal year.

American Tower Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 13th. Stockholders of record on Friday, June 12th will be given a $1.79 dividend. The ex-dividend date is Friday, June 12th. This represents a $7.16 annualized dividend and a dividend yield of 4.3%. American Tower’s dividend payout ratio is currently 115.67%.

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.