Longfellow Investment Management Co. LLC purchased a new stake in American Tower Corporation (NYSE:AMT - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 18,763 shares of the real estate investment trust's stock, valued at approximately $3,069,000.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. J. Stern & Co. LLP boosted its holdings in American Tower by 28,121.1% in the fourth 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 acquiring an additional 37,553,436 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its holdings in 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 during the last quarter. Norges Bank acquired a new position in shares of American Tower in the 4th quarter worth approximately $1,171,180,000. Lazard Asset Management LLC boosted its stake in shares of American Tower by 1,984.8% in 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 purchasing an additional 4,250,242 shares during the last quarter. Finally, Bank of New York Mellon Corp bought a new stake in shares of American Tower in the 2nd quarter valued at $500,016,000. 92.69% of the stock is owned by institutional investors and hedge funds.
American Tower Stock Performance
NYSE:AMT opened at $175.68 on Monday. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 3.12. American Tower Corporation has a twelve month low of $160.06 and a twelve month high of $214.79. The company has a fifty day moving average of $172.82 and a 200-day moving average of $177.93. The firm has a market capitalization of $81.86 billion, a P/E ratio of 24.17, a P/E/G ratio of 2.79 and a beta of 0.90.
American Tower (NYSE:AMT - Get Free Report) last issued its earnings results on Tuesday, July 28th. The real estate investment trust reported $2.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.57 by $1.14. The business had revenue of $2.75 billion for the quarter, compared to analyst estimates of $2.70 billion. American Tower had a net margin of 31.08% and a return on equity of 32.76%. American Tower's revenue was up 4.6% on a year-over-year basis. During the same period in the prior year, the firm earned $2.60 earnings per share. American Tower has set its FY 2026 guidance at 11.000-11.170 EPS. As a group, sell-side analysts anticipate that American Tower Corporation will post 10.78 EPS for the current year.
American Tower Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Monday, July 13th. Stockholders of record on Friday, June 12th were given a dividend of $1.79 per share. This represents a $7.16 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date of this dividend was Friday, June 12th. American Tower's dividend payout ratio is 98.49%.
Analyst Ratings Changes
A number of equities analysts recently weighed in on the stock. TD Cowen lifted their target price on shares of American Tower from $225.00 to $227.00 and gave the stock a "buy" rating in a research note on Wednesday, July 29th. Royal Bank Of Canada raised shares of American Tower from a "sector perform" rating to an "outperform" rating and upped their price target for the company from $195.00 to $205.00 in a research report on Friday, June 26th. Sanford C. Bernstein reiterated an "outperform" rating and set a $214.00 price target on shares of American Tower in a report on Wednesday, July 29th. The Goldman Sachs Group set a $210.00 price objective on American Tower in a research note on Tuesday, July 28th. Finally, BMO Capital Markets upped their target price on American Tower from $190.00 to $195.00 and gave the company a "market perform" rating in a research report on Wednesday, July 29th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $215.14.
Read Our Latest Stock Analysis on AMT
Insider Activity
In other news, CFO Robert Joseph Meyer sold 5,000 shares of the business's stock in a transaction that occurred on Wednesday, July 29th. The stock was sold at an average price of $178.89, for a total transaction of $894,450.00. Following the completion of the sale, the chief financial officer owned 21,428 shares in the company, valued at $3,833,254.92. The trade was a 18.92% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Ruth T. Dowling sold 1,106 shares of the stock in a transaction on Wednesday, July 29th. The stock was sold at an average price of $174.96, for a total value of $193,505.76. Following the completion of the transaction, the executive vice president owned 27,711 shares in the company, valued at approximately $4,848,316.56. This represents a 3.84% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 6,791 shares of company stock valued at $1,204,091. 0.08% of the stock is currently owned by company insiders.
American Tower Profile
(
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.
Further Reading
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