Rep. Richard McCormick Sells American Tower Corporation (NYSE:AMT) Shares

Representative Richard McCormick (Republican-Georgia) recently sold shares of American Tower Corporation NYSE: AMT. In a filing disclosed on May 12th, the Representative disclosed that they had sold between $1,001 and $15,000 in American Tower stock on April 17th. The trade occurred in the Representative's "GROWTH PARTNERS ROTH IRA" account.Get American Tower alerts:AST SpaceMobile Plummets on Galactic Q1 Miss: Can Vertical Integration Save the SpaceX Rival?Representative Richard McCormick also recently made the following trade(s): Purchased $1,001 - $15,000 in shares of Automatic Data Processing NASDAQ: ADP on 3/19/2026. Sold $1,001 - $15,000 in shares of NextEra Energy NYSE: NEE on 3/19/2026. Purchased $1,001 - $15,000 in shares of Abbott Laboratories NYSE: ABT on 3/19/2026. Sold $1,001 - $15,000 in shares of Analog Devices NASDAQ: ADI on 3/19/2026. Purchased $1,001 - $15,000 in shares of Home Depot NYSE: HD on 3/19/2026. Purchased $1,001 - $15,000 in shares of Microsoft NASDAQ: MSFT on 3/19/2026. Sold $1,001 - $15,000 in shares of Automatic Data Processing NASDAQ: ADP on 3/19/2026. Purchased $1,001 - $15,000 in shares of BlackRock NYSE: BLK on 3/19/2026. Sold $1,001 - $15,000 in shares of L3Harris Technologies NYSE: LHX on 3/19/2026. Purchased $1,001 - $15,000 in shares of UnitedHealth Group NYSE: UNH on 3/19/2026. American Tower Stock Down 2.1%Shares of NYSE:AMT opened at $170.28 on Friday. The company has a 50 day moving average price of $178.20 and a two-hundred day moving average price of $179.17. 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 company has a market capitalization of $79.33 billion, a PE ratio of 27.51, a PEG ratio of 0.73 and a beta of 0.90. American Tower Corporation has a 52 week low of $165.08 and a 52 week high of $234.33. AST SpaceMobile Gets FCC Green Light for Direct-to-Device Service After Launch SetbackAmerican Tower (NYSE:AMT - Get Free Report) last announced its quarterly earnings results on Tuesday, April 28th. The real estate investment trust reported $2.84 earnings per share for the quarter, topping analysts' consensus estimates of $1.60 by $1.24. American Tower had a net margin of 26.81% and a return on equity of 27.79%. The company had revenue of $2.74 billion for the quarter, compared to analysts' expectations of $2.66 billion. During the same period last year, the firm posted $2.75 earnings per share. The business's quarterly revenue was up 6.8% compared to the same quarter last year. American Tower has set its FY 2026 guidance at 10.900-11.07 EPS. Analysts forecast that American Tower Corporation will post 10.67 earnings per share for the current year. American Tower Increases DividendThe company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 28th. Investors of record on Tuesday, April 14th were issued a dividend of $1.79 per share. This is an increase from American Tower's previous quarterly dividend of $1.70. This represents a $7.16 dividend on an annualized basis and a yield of 4.2%. The ex-dividend date was Tuesday, April 14th. American Tower's dividend payout ratio is presently 115.67%. Analyst Upgrades and DowngradesAST SpaceMobile Drops 15% After Blue Origin Satellite MishapA number of research analysts have issued reports on AMT shares. Royal Bank Of Canada reissued a "sector perform" rating and issued a $195.00 target price on shares of American Tower in a research note on Thursday, April 30th. Weiss Ratings raised American Tower from a "hold (c-)" rating to a "hold (c)" rating in a research report on Monday. Raymond James Financial reiterated a "strong-buy" rating and issued a $240.00 price objective on shares of American Tower in a research report on Wednesday, April 29th. Morgan Stanley lowered their target price on American Tower from $225.00 to $220.00 and set an "overweight" rating for the company in a research note on Wednesday, February 25th. Finally, The Goldman Sachs Group dropped their target price 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. One investment 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 stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $218.05.Check Out Our Latest Stock Analysis on AMTInsider Buying and SellingIn related news, EVP Ruth T. Dowling sold 416 shares of the stock in a transaction that occurred on Wednesday, April 29th. The stock was sold at an average price of $177.54, for a total transaction of $73,856.64. Following the completion of the transaction, the executive vice president directly owned 29,461 shares of the company's stock, valued at approximately $5,230,505.94. This represents a 1.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Rajesh Kalathur purchased 2,671 shares of the stock in a transaction on Tuesday, March 10th. The shares were bought at an average cost of $185.30 per share, for a total transaction of $494,936.30. Following the transaction, the director directly owned 4,936 shares in the company, valued at approximately $914,640.80. The trade was a 117.92% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last quarter, insiders have sold 42,181 shares of company stock worth $8,046,071. Corporate insiders own 0.08% of the company's stock. Hedge Funds Weigh In On American TowerHedge funds have recently made changes to their positions in the business. Richards Merrill & Peterson Inc. bought a new position in American Tower in the fourth quarter valued at $25,000. Oakworth Capital Inc. boosted its stake in shares of American Tower by 90.7% during the 4th quarter. Oakworth Capital Inc. now owns 143 shares of the real estate investment trust's stock worth $25,000 after buying an additional 68 shares during the last quarter. Swiss RE Ltd. bought a new position in shares of American Tower in the 4th quarter valued at about $25,000. Holos Integrated Wealth LLC bought a new position in shares of American Tower in the 4th quarter valued at about $27,000. Finally, Triumph Capital Management acquired a new stake in shares of American Tower in the third quarter valued at about $29,000. 92.69% of the stock is owned by institutional investors. About Representative McCormickRich McCormick (Republican Party) is a member of the U.S. House, representing Georgia's 7th Congressional District. He assumed office on January 3, 2025. His current term ends on January 3, 2027. McCormick (Republican Party) is running for re-election to the U.S. House to represent Georgia's 7th Congressional District. He declared candidacy for the 2026 election. Rich McCormick lives in Suwanee, Georgia. McCormick served in the U.S. Marine Corps and the U.S. Navy. He earned an M.B.A. from National University and an M.D. from Morehouse School of Medicine. McCormick's career experience includes working as an emergency medicine physician with Gwinnett Medical Center and Northside Hospital, a Marine officer instructor with Georgia Tech and Morehouse College, and a pilot.About American Tower (Get 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.Read MoreFive stocks we like better than American TowerYETI Rallies After Earnings Beat and Raised OutlookHow the 3 Leading Quantum Firms Stack Up After Q1 EarningsCisco’s Vertical Rally May Still Be in the Early InningsAmazon vs. Alibaba: One Is Clearly The Better Value Play right NowThis instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. 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