Northeast Investment Management Sells 16,074 Shares of American Tower Corporation $AMT

Northeast Investment Management lessened its holdings in shares of American Tower Corporation (NYSE:AMT) by 10.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 143,692 shares of the real estate investment trust’s stock after selling 16,074 shares during the quarter. Northeast Investment Management’s holdings in American Tower were worth $24,798,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in AMT. Richards Merrill & Peterson Inc. bought a new position in shares of American Tower during the 4th quarter valued at about $25,000. Oakworth Capital Inc. increased its stake in 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 purchasing an additional 68 shares in the last quarter. Swiss RE Ltd. acquired a new stake in American Tower during the 4th quarter worth approximately $25,000. Holos Integrated Wealth LLC bought a new position in American Tower in the fourth quarter valued at approximately $27,000. Finally, Triumph Capital Management acquired a new position in shares of American Tower in the third quarter valued at approximately $29,000. 92.69% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at American Tower

In related news, EVP Ruth T. Dowling sold 416 shares of the company’s stock in a transaction dated Wednesday, April 29th. The stock was sold at an average price of $177.54, for a total transaction of $73,856.64. Following the sale, the executive vice president owned 29,461 shares in the company, valued at approximately $5,230,505.94. This represents a 1.39% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.08% of the company’s stock.

American Tower Stock Performance

Shares of AMT stock opened at $168.77 on Friday. American Tower Corporation has a 12 month low of $165.08 and a 12 month high of $234.33. The company’s fifty day simple moving average is $181.23 and its 200-day simple moving average is $179.86. The firm has a market cap of $78.63 billion, a PE ratio of 27.26, a P/E/G ratio of 0.73 and a beta of 0.90. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 3.07.

American Tower (NYSE:AMT) last issued its quarterly earnings results on Tuesday, April 28th. The real estate investment trust reported $2.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.60 by $1.24. American Tower had a net margin of 26.81% and a return on equity of 27.79%. The firm had revenue of $2.74 billion for the quarter, compared to analyst estimates of $2.66 billion. During the same period in the previous year, the business earned $2.75 EPS. The company’s 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. Equities research analysts expect that American Tower Corporation will post 10.66 EPS for the current fiscal year.

American Tower Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 13th. Investors of record on Friday, June 12th will be given a $1.79 dividend. The ex-dividend date of this dividend is Friday, June 12th. This represents a $7.16 dividend on an annualized basis and a dividend yield of 4.2%. American Tower’s payout ratio is currently 115.67%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on AMT shares. Mizuho upgraded shares of American Tower from a “neutral” rating to an “outperform” rating and raised their price objective for the stock from $189.00 to $205.00 in a report on Wednesday, April 15th. Truist Financial upped their target price on shares of American Tower from $205.00 to $208.00 and gave the stock a “buy” rating in a research note on Thursday, April 30th. Royal Bank Of Canada raised American Tower from an “outperform” rating to an “outperform” rating and set a $205.00 price target on the stock in a research note on Friday. JPMorgan Chase & Co. cut their price target on American Tower from $245.00 to $240.00 and set an “overweight” rating on the stock in a report on Wednesday, April 29th. Finally, Raymond James Financial reaffirmed a “strong-buy” rating and set a $240.00 price objective on shares of American Tower in a research report on Wednesday, April 29th. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $216.70.

American Tower 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.