Hanson & Doremus Investment Management Takes $1.31 Million Position in American Tower Corporation $AMT

Key Points

• Hanson & Doremus Investment Management opened a new position in American Tower during the first quarter, buying 7,614 shares valued at about $1.31 million.
• American Tower reported better-than-expected quarterly results, posting $2.84 EPS versus $1.60 expected and revenue of $2.74 billion, while also raising its FY 2026 guidance to 10.90–11.07 EPS.
• The company declared a quarterly dividend of $1.79 per share, or $7.16 annualized, which implies a 4.1% yield; analysts currently rate the stock a Moderate Buy with a consensus target price of $216.20.

Hanson & Doremus Investment Management acquired a new stake in American Tower Corporation (NYSE:AMT - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 7,614 shares of the real estate investment trust's stock, valued at approximately $1,314,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. J. Stern & Co. LLP grew its stake in American Tower by 28,121.1% during the 4th quarter. J. Stern & Co. LLP now owns 37,686,978 shares of the real estate investment trust's stock valued at $6,616,703,000 after purchasing an additional 37,553,436 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its position in shares of American Tower by 20,721.6% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 9,712,672 shares of the real estate investment trust's stock valued at $1,705,254,000 after purchasing an additional 9,666,025 shares in the last quarter. Norges Bank acquired a new position in shares of American Tower in the 4th quarter valued at approximately $1,171,180,000. Lazard Asset Management LLC boosted its stake in shares of American Tower by 1,984.8% during the 3rd quarter. Lazard Asset Management LLC now owns 4,464,382 shares of the real estate investment trust's stock valued at $858,552,000 after buying an additional 4,250,242 shares during the last quarter. Finally, Capital International Investors grew its position in shares of American Tower by 157.0% during the fourth quarter. Capital International Investors now owns 3,871,368 shares of the real estate investment trust's stock worth $679,696,000 after buying an additional 2,364,898 shares in the last quarter. Hedge funds and other institutional investors own 92.69% of the company's stock.

Insider Activity

In related news, EVP Ruth T. Dowling sold 556 shares of American Tower stock in a transaction on Tuesday, April 28th. The stock was sold at an average price of $178.48, for a total value of $99,234.88. Following the transaction, the executive vice president directly owned 29,877 shares in the company, valued at $5,332,446.96. The trade was a 1.83% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.08% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms recently commented on AMT. JPMorgan Chase & Co. decreased their price target on American Tower from $245.00 to $240.00 and set an "overweight" rating for the company in a research note on Wednesday, April 29th. Citizens Jmp reaffirmed a "market outperform" rating and set a $260.00 target price on shares of American Tower in a report on Wednesday, April 29th. Mizuho upgraded American Tower from a "neutral" rating to an "outperform" rating and lifted their target price for the stock from $189.00 to $205.00 in a research report on Wednesday, April 15th. Royal Bank Of Canada reiterated a "sector perform" rating and issued a $195.00 price target on shares of American Tower in a report on Thursday, April 30th. Finally, TD Cowen dropped their price target on American Tower from $235.00 to $225.00 in a research report on Wednesday, February 25th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and five have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $216.20.

American Tower Stock Performance

AMT opened at $176.35 on Tuesday. The business's 50 day moving average is $181.52 and its 200-day moving average is $179.94. The stock has a market cap of $82.16 billion, a PE ratio of 28.49, a price-to-earnings-growth ratio of 0.74 and a beta of 0.90. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 3.07. American Tower Corporation has a twelve month low of $165.08 and a twelve month 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 EPS for the quarter, beating analysts' consensus estimates of $1.60 by $1.24. American Tower had a return on equity of 27.79% and a net margin of 26.81%.The company had revenue of $2.74 billion for the quarter, compared to analyst estimates of $2.66 billion. During the same period last year, the company earned $2.75 earnings per share. The company'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. On average, analysts predict that American Tower Corporation will post 10.66 earnings per share for the current year.

American Tower Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 13th. Stockholders of record on Friday, June 12th will be given a dividend of $1.79 per share. The ex-dividend date is Friday, June 12th. This represents a $7.16 annualized dividend and a dividend yield of 4.1%. American Tower's dividend payout ratio (DPR) is 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.

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