Rockland Trust Co. Decreases Stock Position in American Tower Corporation $AMT

Rockland Trust Co. cut its position in American Tower Corporation (NYSE:AMT) by 25.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,956 shares of the real estate investment trust’s stock after selling 2,992 shares during the period. Rockland Trust Co.’s holdings in American Tower were worth $1,572,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. SOA Wealth Advisors LLC. boosted its stake in American Tower by 36.7% during the 3rd quarter. SOA Wealth Advisors LLC. now owns 205 shares of the real estate investment trust’s stock worth $39,000 after purchasing an additional 55 shares during the last quarter. Pines Wealth Management LLC raised its position in shares of American Tower by 4.1% in the third quarter. Pines Wealth Management LLC now owns 1,488 shares of the real estate investment trust’s stock valued at $286,000 after buying an additional 58 shares during the last quarter. Pasadena Private Wealth LLC raised its position in shares of American Tower by 4.0% in the third quarter. Pasadena Private Wealth LLC now owns 1,544 shares of the real estate investment trust’s stock valued at $297,000 after buying an additional 60 shares during the last quarter. Conscious Wealth Investments LLC lifted its stake in shares of American Tower by 0.5% in the third quarter. Conscious Wealth Investments LLC now owns 11,852 shares of the real estate investment trust’s stock worth $2,121,000 after buying an additional 60 shares in the last quarter. Finally, Dynamic Wealth Strategies LLC boosted its position in American Tower by 19.9% during the third quarter. Dynamic Wealth Strategies LLC now owns 367 shares of the real estate investment trust’s stock worth $71,000 after acquiring an additional 61 shares during the last quarter. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Insiders Place Their Bets

In other American Tower news, Director Rajesh Kalathur purchased 2,671 shares of the firm’s stock in a transaction dated Tuesday, March 10th. The shares were acquired at an average price of $185.30 per share, with a total value of $494,936.30. Following the purchase, the director directly owned 4,936 shares in the company, valued at approximately $914,640.80. This trade represents a 117.92% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Eugene M. Noel sold 41,209 shares of the stock in a transaction on Monday, March 2nd. The stock was 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 represents a 58.20% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.18% of the stock is owned by insiders.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Jefferies Financial Group upped their price objective on shares of American Tower from $200.00 to $209.00 and gave the company a “buy” rating in a research note on Thursday, February 26th. New Street Research upgraded American Tower from a “neutral” rating to a “buy” rating and set a $203.00 target price on the stock in a report on Monday, January 5th. JPMorgan Chase & Co. dropped their price target on American Tower from $250.00 to $245.00 and set an “overweight” rating for the company in a research report on Monday, January 12th. Royal Bank Of Canada cut their price target on American Tower from $220.00 to $195.00 and set a “sector perform” rating for the company in a report on Monday, January 12th. Finally, Raymond James Financial lowered their price objective on American Tower from $231.00 to $229.00 and set a “strong-buy” rating on the stock in a research note on Friday, January 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat.com, American Tower presently has a consensus rating of “Moderate Buy” and a consensus target price of $216.76.

American Tower Price Performance

Shares of AMT stock opened at $172.53 on Wednesday. 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 company has a market capitalization of $80.41 billion, a PE ratio of 32.01, a price-to-earnings-growth ratio of 0.72 and a beta of 0.92. The firm’s 50-day moving average is $181.32 and its two-hundred day moving average is $182.06. American Tower Corporation has a 12 month low of $165.08 and a 12 month high of $234.33.

American Tower (NYSE:AMT) last posted 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). The firm had revenue of $2.74 billion during the quarter, compared to analysts’ expectations of $2.69 billion. American Tower had a net margin of 23.76% and a return on equity of 24.36%. The business’s quarterly revenue was up 7.5% on a year-over-year basis. During the same period last year, the company earned $2.62 EPS. American Tower has set its FY 2026 guidance at 10.780-10.950 EPS. Analysts predict that American Tower Corporation will post 10.14 earnings per share for the current year.

American Tower Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 28th. Shareholders of record on Tuesday, April 14th will be paid a dividend of $1.79 per share. This represents a $7.16 annualized dividend and a yield of 4.1%. This is a positive change from American Tower’s previous quarterly dividend of $1.70. The ex-dividend date of this dividend is Tuesday, April 14th. American Tower’s payout ratio is 126.16%.

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.