Turtle Creek Wealth Advisors LLC Sells 10,210 Shares of American Tower Corporation $AMT

Turtle Creek Wealth Advisors LLC lowered its stake in shares of American Tower Corporation (NYSE:AMT) by 57.9% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 7,424 shares of the real estate investment trust’s stock after selling 10,210 shares during the quarter. Turtle Creek Wealth Advisors LLC’s holdings in American Tower were worth $1,303,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Richards Merrill & Peterson Inc. bought a new position in American Tower during the fourth quarter worth about $25,000. Triumph Capital Management purchased a new stake in American Tower in the third quarter valued at approximately $29,000. Holos Integrated Wealth LLC purchased a new stake in American Tower in the fourth quarter valued at approximately $27,000. Root Financial Partners LLC purchased a new stake in American Tower in the third quarter valued at approximately $32,000. Finally, Westside Investment Management Inc. grew its position in American Tower by 103.6% during the third quarter. Westside Investment Management Inc. now owns 169 shares of the real estate investment trust’s stock valued at $33,000 after acquiring an additional 86 shares during the last quarter. Institutional investors own 92.69% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Raymond James Financial reduced their price target 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. Morgan Stanley cut their price target on shares of American Tower from $225.00 to $220.00 and set an “overweight” rating on the stock in a report on Wednesday, February 25th. New Street Research raised 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. Mizuho raised American Tower from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $189.00 to $205.00 in a research report on Wednesday, April 15th. Finally, TD Cowen lowered their price target on American Tower from $235.00 to $225.00 in a research report on Wednesday, February 25th. Two analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $217.33.

Insider Buying and Selling

In related news, Director Rajesh Kalathur acquired 2,671 shares of the business’s stock in a transaction that occurred on Tuesday, March 10th. The stock was bought at an average cost of $185.30 per share, for a total transaction of $494,936.30. Following the purchase, the director owned 4,936 shares in the company, valued at $914,640.80. The trade was a 117.92% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, COO Eugene M. Noel sold 41,209 shares of the business’s stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $191.05, for a total value of $7,872,979.45. Following the transaction, the chief operating officer owned 29,592 shares of the company’s stock, valued at approximately $5,653,551.60. This trade represents a 58.20% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.17% of the company’s stock.

American Tower Trading Up 1.5%

American Tower stock opened at $178.98 on Friday. The business has a 50-day simple moving average of $181.15 and a two-hundred day simple moving average of $180.31. The company has a market cap of $83.42 billion, a P/E ratio of 33.21, a P/E/G ratio of 0.74 and a beta of 0.92. American Tower Corporation has a 52-week low of $165.08 and a 52-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.

American Tower (NYSE:AMT) last released its quarterly earnings results on Tuesday, February 24th. The real estate investment trust reported $1.75 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.54 by ($0.79). The firm had revenue of $2.74 billion for the quarter, compared to the consensus estimate of $2.69 billion. American Tower had a net margin of 23.76% and a return on equity of 24.36%. The company’s revenue for the quarter was up 7.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.62 earnings per share. American Tower has set its FY 2026 guidance at 10.780-10.950 EPS. Analysts predict that American Tower Corporation will post 10.59 EPS for the current year.

American Tower Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 28th. Investors of record on Tuesday, April 14th will be paid 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 is Tuesday, April 14th. This represents a $7.16 dividend on an annualized basis and a dividend yield of 4.0%. American Tower’s dividend payout ratio is presently 132.84%.

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.