Sitrin Capital Management LLC Makes New Investment in American Tower Corporation $AMT

Sitrin Capital Management LLC purchased a new position in shares of American Tower Corporation (NYSE:AMT) in the fourth quarter, according to its most recent filing with the SEC. The firm purchased 23,645 shares of the real estate investment trust’s stock, valued at approximately $4,190,000. American Tower accounts for 2.0% of Sitrin Capital Management LLC’s portfolio, making the stock its 29th largest holding.

A number of other large investors have also recently bought and sold shares of AMT. Richards Merrill & Peterson Inc. acquired a new stake in American Tower during the 4th quarter worth about $25,000. Holos Integrated Wealth LLC acquired a new stake in American Tower during the 4th quarter worth about $27,000. Triumph Capital Management acquired a new stake in American Tower during the 3rd quarter worth about $29,000. Steph & Co. grew its holdings in American Tower by 87.2% during the 4th quarter. Steph & Co. now owns 176 shares of the real estate investment trust’s stock worth $31,000 after acquiring an additional 82 shares during the period. Finally, Root Financial Partners LLC acquired a new stake in American Tower during the 3rd quarter worth about $32,000. 92.69% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, COO Eugene M. Noel sold 41,209 shares of the firm’s stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $191.05, for a total value of $7,872,979.45. Following the transaction, the chief operating officer owned 29,592 shares of the company’s stock, valued at approximately $5,653,551.60. This trade represents a 58.20% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Rajesh Kalathur purchased 2,671 shares of the company’s stock in a transaction that occurred on Tuesday, March 10th. The stock was acquired at an average cost of $185.30 per share, for a total transaction of $494,936.30. Following the transaction, the director owned 4,936 shares in the company, valued at $914,640.80. This represents a 117.92% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 0.18% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several brokerages have recently commented on AMT. Weiss Ratings restated a “hold (c)” rating on shares of American Tower in a research note on Monday, December 29th. BMO Capital Markets raised their target price on American Tower from $185.00 to $200.00 and gave the company a “market perform” rating in a research note on Wednesday, February 25th. The Goldman Sachs Group reduced their target price on American Tower from $230.00 to $210.00 and set a “buy” rating for the company in a research note on Friday, January 16th. Raymond James Financial reduced their target price on American Tower from $231.00 to $229.00 and set a “strong-buy” rating for the company in a research note on Friday, January 23rd. Finally, Scotiabank reduced their target price on American Tower from $220.00 to $214.00 and set a “sector outperform” rating for the company in a research note on Wednesday, February 25th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $217.33.

American Tower Stock Performance

Shares of AMT opened at $181.52 on Tuesday. American Tower Corporation has a one year low of $165.08 and a one year high of $234.33. The company has a market cap of $84.60 billion, a PE ratio of 33.68, a P/E/G ratio of 0.77 and a beta of 0.92. The company has a debt-to-equity ratio of 3.27, a current ratio of 0.60 and a quick ratio of 0.60. The stock has a 50-day moving average of $181.49 and a 200-day moving average of $180.45.

American Tower (NYSE:AMT) last announced its quarterly earnings results on Tuesday, February 24th. The real estate investment trust reported $1.75 earnings per share for the quarter, missing the consensus estimate of $2.54 by ($0.79). American Tower had a net margin of 23.76% and a return on equity of 24.36%. The business had revenue of $2.74 billion during the quarter, compared to the consensus estimate of $2.69 billion. During the same period in the previous year, the business posted $2.62 EPS. American Tower’s revenue was up 7.5% compared to the same quarter last year. American Tower has set its FY 2026 guidance at 10.780-10.950 EPS. On average, equities research analysts predict that American Tower Corporation will post 10.59 EPS for the current fiscal year.

American Tower Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 28th. Investors of record on Tuesday, April 14th will be given a $1.79 dividend. This represents a $7.16 annualized dividend and a yield of 3.9%. The ex-dividend date of this dividend is Tuesday, April 14th. This is a positive change from American Tower’s previous quarterly dividend of $1.70. American Tower’s payout ratio is 132.84%.

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.