American Tower Corporation $AMT Shares Acquired by NorthCrest Asset Manangement LLC

NorthCrest Asset Manangement LLC grew its stake in shares of American Tower Corporation (NYSE:AMT) by 411.4% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 6,980 shares of the real estate investment trust’s stock after acquiring an additional 5,615 shares during the period. NorthCrest Asset Manangement LLC’s holdings in American Tower were worth $1,164,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Asset Advisory Group Inc. lifted its holdings in shares of American Tower by 3.0% in the first quarter. Asset Advisory Group Inc. now owns 2,072 shares of the real estate investment trust’s stock worth $358,000 after buying an additional 60 shares in the last quarter. Anchor Investment Management LLC grew its stake in American Tower by 2.7% during the fourth quarter. Anchor Investment Management LLC now owns 2,351 shares of the real estate investment trust’s stock valued at $413,000 after acquiring an additional 62 shares in the last quarter. Community Financial Services Group LLC grew its stake in American Tower by 1.2% during the second quarter. Community Financial Services Group LLC now owns 5,388 shares of the real estate investment trust’s stock valued at $895,000 after acquiring an additional 65 shares in the last quarter. Sunburst Financial Group LLC grew its stake in American Tower by 3.5% during the second quarter. Sunburst Financial Group LLC now owns 1,933 shares of the real estate investment trust’s stock valued at $316,000 after acquiring an additional 66 shares in the last quarter. Finally, Optas LLC increased its holdings in American Tower by 4.1% during the 1st quarter. Optas LLC now owns 1,733 shares of the real estate investment trust’s stock worth $299,000 after acquiring an additional 69 shares during the period. 92.69% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. 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 research note on Friday, June 26th. BMO Capital Markets boosted their price target on shares of American Tower from $190.00 to $195.00 and gave the company a “market perform” rating in a research report on Wednesday, July 29th. Truist Financial reaffirmed a “buy” rating and issued a $207.00 price target (down from $208.00) on shares of American Tower in a report on Wednesday, August 12th. Wolfe Research upgraded American Tower from a “peer perform” rating to an “outperform” rating and set a $188.00 price objective on the stock in a research report on Wednesday, July 8th. Finally, Weiss Ratings downgraded American Tower from a “hold (c)” rating to a “hold (c-)” rating in a research report on Thursday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, American Tower currently has a consensus rating of “Moderate Buy” and a consensus price target of $215.00.

American Tower Stock Performance

Shares of AMT opened at $180.93 on Friday. American Tower Corporation has a 12-month low of $160.06 and a 12-month high of $196.08. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 3.12. The company has a market cap of $84.30 billion, a PE ratio of 24.89, a price-to-earnings-growth ratio of 2.88 and a beta of 0.88. The stock has a 50-day moving average price of $173.32 and a 200-day moving average price of $175.29.

American Tower (NYSE:AMT) last posted its quarterly earnings data on Tuesday, July 28th. The real estate investment trust reported $2.71 earnings per share for the quarter, topping the consensus estimate of $1.57 by $1.14. The company had revenue of $2.75 billion for the quarter, compared to analysts’ expectations 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 for the quarter was up 4.6% compared to the same quarter last year. During the same period in the prior year, the business earned $2.60 earnings per share. American Tower has set its FY 2026 guidance at 11.000-11.170 EPS. As a group, equities analysts forecast that American Tower Corporation will post 10.80 earnings per share for the current fiscal year.

American Tower Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 20th. Shareholders of record on Wednesday, September 30th will be given a dividend of $1.79 per share. The ex-dividend date is Wednesday, September 30th. This represents a $7.16 annualized dividend and a yield of 4.0%. American Tower’s payout ratio is presently 98.49%.

Insiders Place Their Bets

In related news, Director Rajesh Kalathur purchased 2,829 shares of the business’s stock in a transaction on Friday, August 21st. The stock was acquired at an average price of $177.00 per share, with a total value of $500,733.00. Following the purchase, the director directly owned 7,765 shares in the company, valued at approximately $1,374,405. This represents a 57.31% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Robert Joseph Meyer sold 5,000 shares of the stock in a transaction 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 transaction, the chief financial officer directly owned 21,428 shares in the company, valued at $3,833,254.92. The trade was a 18.92% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 6,791 shares of company stock valued at $1,204,091 in the last quarter. Corporate insiders own 0.08% of the company’s stock.

American Tower Profile

American Tower Corporation (NYSE: AMT) is a global real estate investment trust that owns, operates and develops communications infrastructure. Its portfolio includes wireless and broadcast towers, rooftop sites, distributed antenna systems and other facilities that support wireless communications, television and radio broadcasting, government communications and other connectivity services.

The company leases space on its communications sites to wireless carriers, broadcasters, government agencies and other customers.