4,105 Shares of American Tower Corporation $AMT Bought by Norway Savings Bank

Norway Savings Bank purchased a new position in American Tower Corporation (NYSE:AMT) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 4,105 shares of the real estate investment trust’s stock, valued at approximately $672,000.

A number of other hedge funds also recently bought and sold shares of AMT. BlackRock Inc. purchased a new stake in shares of American Tower in the second quarter valued at approximately $7,490,943,000. State Street Corp lifted its position in shares of American Tower by 2.9% during the 2nd quarter. State Street Corp now owns 22,066,202 shares of the real estate investment trust’s stock valued at $3,647,491,000 after buying an additional 631,593 shares in the last quarter. Lazard Asset Management LLC grew its stake in American Tower by 20.4% in the 1st quarter. Lazard Asset Management LLC now owns 7,325,943 shares of the real estate investment trust’s stock valued at $1,264,311,000 after acquiring an additional 1,240,780 shares during the period. Deutsche Bank AG acquired a new stake in American Tower in the 2nd quarter valued at $1,096,186,000. Finally, Legal & General Group Plc increased its holdings in American Tower by 0.6% in the 2nd quarter. Legal & General Group Plc now owns 4,853,850 shares of the real estate investment trust’s stock worth $793,944,000 after acquiring an additional 27,929 shares in the last quarter. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Insider Activity

In other news, CFO Robert Joseph Meyer sold 5,000 shares of the business’s stock in a transaction that occurred 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 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 sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Ruth T. Dowling sold 1,106 shares of the business’s stock in a transaction that occurred on Wednesday, July 29th. The stock was sold at an average price of $174.96, for a total value of $193,505.76. Following the transaction, the executive vice president owned 27,711 shares in the company, valued at approximately $4,848,316.56. This represents a 3.84% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 6,791 shares of company stock worth $1,204,091 over the last three months. Insiders own 0.08% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on AMT shares. Wolfe Research upgraded shares of American Tower from a “peer perform” rating to an “outperform” rating and set a $188.00 price objective for the company in a research report on Wednesday, July 8th. Truist Financial reiterated a “buy” rating and issued a $207.00 target price (down from $208.00) on shares of American Tower in a research report on Wednesday, August 12th. Barclays boosted their target price on shares of American Tower from $198.00 to $199.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 30th. Royal Bank Of Canada upgraded shares of American Tower from a “sector perform” rating to an “outperform” rating and upped their price target for the stock from $195.00 to $205.00 in a research report on Friday, June 26th. Finally, Mizuho set a $208.00 price target on shares of American Tower in a research note on Thursday, August 20th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $214.90.

American Tower Price Performance

Shares of NYSE:AMT traded up $2.21 during trading on Tuesday, reaching $185.24. The stock had a trading volume of 848,647 shares, compared to its average volume of 3,064,168. The company has a debt-to-equity ratio of 3.12, a quick ratio of 0.52 and a current ratio of 0.52. American Tower Corporation has a 1-year low of $160.06 and a 1-year high of $196.08. The stock has a market cap of $86.31 billion, a PE ratio of 25.48, a PEG ratio of 2.97 and a beta of 0.88. The business has a fifty day moving average price of $173.85 and a 200-day moving average price of $175.47.

American Tower (NYSE:AMT) last posted 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 during the quarter, compared to the consensus estimate of $2.70 billion. American Tower had a return on equity of 32.76% and a net margin of 31.08%. The firm’s revenue was up 4.6% compared to the same quarter last year. During the same period in the prior year, the company earned $2.60 EPS. American Tower has set its FY 2026 guidance at 11.000-11.170 EPS. On average, equities analysts forecast that American Tower Corporation will post 10.80 earnings per share for the current fiscal year.

American Tower Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 20th. Stockholders of record on Wednesday, September 30th will be given a $1.79 dividend. This represents a $7.16 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date is Wednesday, September 30th. American Tower’s dividend payout ratio is 98.49%.

About American Tower

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.