Sterling Investment Management LLC Purchases 4,926 Shares of American Tower Corporation $AMT

Sterling Investment Management LLC purchased a new stake in American Tower Corporation (NYSE:AMT) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 4,926 shares of the real estate investment trust’s stock, valued at approximately $806,000.

A number of other large investors have also recently added to or reduced their stakes in the company. Operose Advisors LLC bought a new position in shares of American Tower in the 2nd quarter valued at about $25,000. Allied Private Wealth LLC bought a new stake in shares of American Tower in the 2nd quarter valued at about $29,000. Mowery & Schoenfeld Wealth Management LLC bought a new stake in shares of American Tower in the 2nd quarter valued at about $33,000. Kelleher Financial Advisors bought a new stake in shares of American Tower in the 2nd quarter valued at about $37,000. Finally, Cache Advisors LLC acquired a new stake in American Tower in the 1st quarter valued at about $38,000. Institutional investors and hedge funds own 92.69% of the company’s stock.

Insider Buying and Selling

In other American Tower news, EVP Ruth T. Dowling sold 1,106 shares of the stock in a transaction dated Wednesday, July 29th. The shares were sold at an average price of $174.96, for a total value of $193,505.76. Following the transaction, the executive vice president directly owned 27,711 shares of the company’s stock, valued at $4,848,316.56. This represents a 3.84% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Robert Joseph Meyer sold 5,000 shares of the stock in a transaction dated Wednesday, July 29th. The shares were sold at an average price of $178.89, for a total transaction of $894,450.00. Following the completion of the transaction, the chief financial officer directly owned 21,428 shares in the company, valued at approximately $3,833,254.92. This represents a 18.92% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 6,791 shares of company stock valued at $1,204,091. Company insiders own 0.08% of the company’s stock.

American Tower Trading Up 2.1%

AMT stock opened at $185.24 on Friday. The company has a debt-to-equity ratio of 3.12, a current ratio of 0.52 and a quick ratio of 0.52. The company has a fifty day moving average price of $173.57 and a two-hundred day moving average price of $175.36. American Tower Corporation has a one year low of $160.06 and a one year high of $196.08. The stock has a market cap of $86.32 billion, a price-to-earnings ratio of 25.48, a price-to-earnings-growth ratio of 2.97 and a beta of 0.88.

American Tower (NYSE:AMT) last released its quarterly earnings data on Tuesday, July 28th. The real estate investment trust reported $2.71 EPS for the quarter, beating the consensus estimate of $1.57 by $1.14. The firm had revenue of $2.75 billion for the quarter, compared to the consensus estimate of $2.70 billion. American Tower had a net margin of 31.08% and a return on equity of 32.76%. The company’s quarterly revenue was up 4.6% on a year-over-year basis. During the same period in the previous year, the company earned $2.60 earnings per share. American Tower has set its FY 2026 guidance at 11.000-11.170 EPS. Equities analysts anticipate that American Tower Corporation will post 10.80 EPS for the current year.

American Tower Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 20th. Investors of record on Wednesday, September 30th will be issued a dividend of $1.79 per share. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $7.16 annualized dividend and a dividend yield of 3.9%. American Tower’s payout ratio is presently 98.49%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. BMO Capital Markets raised their target price on shares of American Tower from $190.00 to $195.00 and gave the company a “market perform” rating in a research note on Wednesday, July 29th. Mizuho set a $208.00 price target on American Tower in a research report on Thursday, August 20th. TD Cowen upped their price objective on American Tower from $225.00 to $227.00 and gave the company a “buy” rating in a research note on Wednesday, July 29th. Sanford C. Bernstein restated an “outperform” rating and issued a $214.00 price objective on shares of American Tower in a research note on Wednesday, July 29th. Finally, Weiss Ratings cut American Tower from a “hold (c)” rating to a “hold (c-)” rating in a research report on Thursday, October 8th. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $215.00.

American Tower Profile

American Tower Corporation (NYSE:AMT) is a real estate investment trust that owns, operates and develops wireless communications infrastructure. Its portfolio primarily includes communications towers, rooftop sites, distributed antenna systems and other infrastructure used by wireless carriers, broadcasters, governments and businesses to support voice, data and video communications.

The company leases space on its sites to multiple customers, allowing them to install antennas and related equipment without building and maintaining individual tower locations.