Navigation Group LLC Makes New $616,000 Investment in American Tower Corporation $AMT

Navigation Group LLC bought a new stake in shares of American Tower Corporation (NYSE:AMT) in the first quarter, Holdings Channel reports. The fund bought 3,567 shares of the real estate investment trust’s stock, valued at approximately $616,000.

A number of other hedge funds have also recently made changes to their positions in the stock. J. Stern & Co. LLP grew its stake in shares of American Tower by 28,121.1% in the 4th quarter. J. Stern & Co. LLP now owns 37,686,978 shares of the real estate investment trust’s stock worth $6,616,703,000 after buying an additional 37,553,436 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in American Tower by 20,721.6% during 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 buying an additional 9,666,025 shares during the last quarter. Norges Bank bought a new stake in American Tower in the fourth quarter worth $1,171,180,000. Lazard Asset Management LLC boosted its holdings in American Tower by 1,984.8% in the third quarter. Lazard Asset Management LLC now owns 4,464,382 shares of the real estate investment trust’s stock worth $858,552,000 after acquiring an additional 4,250,242 shares in the last quarter. Finally, Capital International Investors grew its stake in shares of American Tower by 157.0% in the fourth quarter. Capital International Investors now owns 3,871,368 shares of the real estate investment trust’s stock worth $679,696,000 after acquiring an additional 2,364,898 shares during the last quarter. 92.69% of the stock is owned by institutional investors.

American Tower Trading Down 0.1%

Shares of NYSE:AMT opened at $168.66 on Thursday. The company has a debt-to-equity ratio of 3.07, a current ratio of 0.43 and a quick ratio of 0.43. American Tower Corporation has a 1 year low of $160.06 and a 1 year high of $234.33. The company has a market cap of $78.58 billion, a P/E ratio of 27.25, a PEG ratio of 0.70 and a beta of 0.91. The stock’s fifty day moving average price is $177.98 and its 200-day moving average price is $178.82.

American Tower (NYSE:AMT) last released its quarterly earnings data on Tuesday, April 28th. The real estate investment trust reported $2.84 EPS 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 company 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 EPS. American Tower’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. Sell-side analysts expect that American Tower Corporation will post 10.66 earnings per share for the current year.

American Tower Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, July 13th. Stockholders of record on Friday, June 12th were paid a $1.79 dividend. The ex-dividend date was Friday, June 12th. This represents a $7.16 dividend on an annualized basis and a dividend yield of 4.2%. American Tower’s payout ratio is currently 115.67%.

Insider Activity at American Tower

In other news, EVP Ruth T. Dowling sold 416 shares of the business’s stock in a transaction that occurred on Wednesday, April 29th. The shares were sold at an average price of $177.54, for a total transaction of $73,856.64. Following the completion of the transaction, the executive vice president directly owned 29,461 shares of the company’s stock, valued at $5,230,505.94. The trade was a 1.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.08% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

AMT has been the subject of several recent analyst reports. Royal Bank Of Canada raised American Tower from a “sector perform” rating to an “outperform” rating and lifted their price target for the stock from $195.00 to $205.00 in a research report on Friday, June 26th. Jefferies Financial Group increased their price objective on shares of American Tower from $209.00 to $210.00 and gave the company a “buy” rating in a research report on Tuesday, April 14th. JPMorgan Chase & Co. reduced their price objective on shares of American Tower from $245.00 to $240.00 and set an “overweight” rating for the company in a research note on Wednesday, April 29th. Raymond James Financial reaffirmed a “strong-buy” rating and issued a $240.00 target price on shares of American Tower in a report 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 stock a “buy” rating in a research note on Thursday, April 30th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $215.57.

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.