Novare Capital Management LLC Lowers Holdings in American Tower Corporation $AMT

Novare Capital Management LLC trimmed its stake in shares of American Tower Corporation (NYSE:AMT) by 17.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,008 shares of the real estate investment trust’s stock after selling 5,143 shares during the quarter. Novare Capital Management LLC’s holdings in American Tower were worth $4,316,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. J. Stern & Co. LLP raised its stake in American Tower by 28,121.1% in the fourth quarter. J. Stern & Co. LLP now owns 37,686,978 shares of the real estate investment trust’s stock valued at $6,616,703,000 after buying an additional 37,553,436 shares in the last quarter. State Street Corp boosted its position in shares of American Tower by 0.3% during the 4th quarter. State Street Corp now owns 20,987,534 shares of the real estate investment trust’s stock worth $3,719,634,000 after acquiring an additional 71,605 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of American Tower by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 13,499,035 shares of the real estate investment trust’s stock valued at $2,361,675,000 after acquiring an additional 227,361 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in American Tower by 20,721.6% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 9,712,672 shares of the real estate investment trust’s stock valued at $1,705,254,000 after purchasing an additional 9,666,025 shares during the last quarter. Finally, Invesco Ltd. raised its stake in American Tower by 0.9% during the 4th quarter. Invesco Ltd. now owns 6,948,190 shares of the real estate investment trust’s stock worth $1,219,894,000 after acquiring an additional 59,557 shares in the last quarter. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Insider Buying and Selling at American Tower

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

Analyst Ratings Changes

AMT has been the topic of several research analyst reports. UBS Group cut their price target on American Tower from $254.00 to $248.00 and set a “buy” rating on the stock in a research report on Wednesday, February 25th. Sanford C. Bernstein upgraded shares of American Tower from a “market perform” rating to an “outperform” rating and set a $207.00 price target for the company in a research report on Tuesday, May 19th. Weiss Ratings upgraded shares of American Tower from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, May 11th. JPMorgan Chase & Co. dropped their price objective on shares of American Tower from $245.00 to $240.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 29th. Finally, Truist Financial upped their target price on shares of American Tower from $205.00 to $208.00 and gave the company a “buy” rating in a report on Thursday, April 30th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $216.20.

American Tower Trading Up 0.2%

NYSE:AMT opened at $176.35 on Tuesday. American Tower Corporation has a 12-month low of $165.08 and a 12-month high of $234.33. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 3.07. The stock’s 50 day simple moving average is $181.52 and its 200-day simple moving average is $179.94. The firm has a market cap of $82.16 billion, a P/E ratio of 28.49, a PEG ratio of 0.74 and a beta of 0.90.

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 for the quarter, topping the consensus estimate of $1.60 by $1.24. American Tower had a return on equity of 27.79% and a net margin of 26.81%.The firm had revenue of $2.74 billion during the quarter, compared to the consensus estimate of $2.66 billion. During the same period last year, the company earned $2.75 earnings per share. The company’s revenue for the quarter was up 6.8% on a year-over-year basis. American Tower has set its FY 2026 guidance at 10.900-11.07 EPS. Equities analysts anticipate that American Tower Corporation will post 10.66 EPS for the current year.

American Tower Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 13th. Stockholders of record on Friday, June 12th will be paid a $1.79 dividend. This represents a $7.16 annualized dividend and a dividend yield of 4.1%. The ex-dividend date is Friday, June 12th. American Tower’s dividend payout ratio (DPR) is 115.67%.

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.