Navigation Group LLC Takes Position in American Tower Corporation $AMT

Navigation Group LLC bought a new stake in shares of American Tower Corporation (NYSE:AMT) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 3,567 shares of the real estate investment trust’s stock, valued at approximately $616,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. J. Stern & Co. LLP boosted its stake in shares of American Tower by 28,121.1% during 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 purchasing an additional 37,553,436 shares during the period. Northwestern Mutual Wealth Management Co. increased its stake in shares of American Tower by 20,721.6% in the fourth 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 buying an additional 9,666,025 shares during the period. Norges Bank purchased a new position in shares of American Tower in the fourth quarter worth $1,171,180,000. Lazard Asset Management LLC raised its holdings in 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 raised its holdings in American Tower by 157.0% during the 4th quarter. Capital International Investors now owns 3,871,368 shares of the real estate investment trust’s stock valued at $679,696,000 after buying an additional 2,364,898 shares during the last quarter. 92.69% of the stock is currently owned by institutional investors.

Insider Buying and Selling at American Tower

In related news, EVP Ruth T. Dowling sold 416 shares of the company’s stock in a transaction on Wednesday, April 29th. The stock was sold at an average price of $177.54, for a total value of $73,856.64. Following the sale, the executive vice president directly owned 29,461 shares of the company’s stock, valued at $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 Securities & Exchange Commission, which is available at 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.

Analysts Set New Price Targets

AMT has been the topic of a number of recent analyst reports. Jefferies Financial Group raised their price target on shares of American Tower from $209.00 to $210.00 and gave the stock a “buy” rating in a report on Tuesday, April 14th. Royal Bank Of Canada upgraded shares of American Tower from a “sector perform” rating to an “outperform” rating and increased their target price for the stock from $195.00 to $205.00 in a report on Friday, June 26th. Raymond James Financial restated a “strong-buy” rating and set a $240.00 price target on shares of American Tower in a report on Wednesday, April 29th. Sanford C. Bernstein upgraded American Tower from a “market perform” rating to an “outperform” rating and set a $207.00 price objective for the company in a report on Tuesday, May 19th. Finally, Scotiabank boosted their target price on American Tower from $214.00 to $218.00 and gave the company an “outperform” rating in a research note on Wednesday, April 29th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, American Tower presently has an average rating of “Moderate Buy” and a consensus target price of $215.57.

American Tower Price Performance

AMT stock opened at $168.66 on Thursday. The company has a debt-to-equity ratio of 3.07, a current ratio of 0.43 and a quick ratio of 0.43. American Tower Corporation has a 1 year low of $160.06 and a 1 year high of $234.33. The firm has a 50-day moving average of $177.98 and a 200 day moving average of $178.82. The company has a market cap of $78.58 billion, a P/E ratio of 27.25, a PEG ratio of 0.70 and a beta of 0.91.

American Tower (NYSE:AMT) last posted its quarterly earnings data on Tuesday, April 28th. The real estate investment trust reported $2.84 earnings per share for the quarter, beating the consensus estimate of $1.60 by $1.24. American Tower had a return on equity of 27.79% and a net margin of 26.81%.The business had revenue of $2.74 billion for the quarter, compared to analysts’ expectations of $2.66 billion. During the same period in the previous year, the firm posted $2.75 EPS. The business’s revenue was up 6.8% on a year-over-year basis. American Tower has set its FY 2026 guidance at 10.900-11.07 EPS. On average, sell-side analysts forecast that American Tower Corporation will post 10.66 EPS for the current year.

American Tower Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, July 13th. Investors of record on Friday, June 12th were given a dividend of $1.79 per share. The ex-dividend date was Friday, June 12th. This represents a $7.16 annualized dividend and a dividend yield of 4.2%. American Tower’s payout ratio is currently 115.67%.

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.