NorthCrest Asset Manangement LLC Purchases New Holdings in American Tower Corporation $AMT

NorthCrest Asset Manangement LLC purchased a new stake in American Tower Corporation (NYSE:AMT) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 3,217 shares of the real estate investment trust’s stock, valued at approximately $567,000.

Several other institutional investors have also recently made changes to their positions in the stock. Gryphon Financial Partners LLC lifted its stake in American Tower by 1.0% in the fourth quarter. Gryphon Financial Partners LLC now owns 12,713 shares of the real estate investment trust’s stock valued at $2,232,000 after acquiring an additional 120 shares during the last quarter. Sarasin & Partners LLP increased its stake in shares of American Tower by 4.2% during the 4th quarter. Sarasin & Partners LLP now owns 900,401 shares of the real estate investment trust’s stock worth $158,083,000 after purchasing an additional 36,571 shares during the last quarter. Nordea Investment Management AB raised its holdings in shares of American Tower by 10.4% in the 4th quarter. Nordea Investment Management AB now owns 1,743,321 shares of the real estate investment trust’s stock valued at $306,284,000 after purchasing an additional 164,645 shares during the period. Value Partners Investments Inc. raised its holdings in shares of American Tower by 18.4% in the 4th quarter. Value Partners Investments Inc. now owns 21,199 shares of the real estate investment trust’s stock valued at $3,722,000 after purchasing an additional 3,300 shares during the period. Finally, Cyndeo Wealth Partners LLC lifted its stake in American Tower by 11.9% in the 4th quarter. Cyndeo Wealth Partners LLC now owns 14,149 shares of the real estate investment trust’s stock valued at $2,484,000 after purchasing an additional 1,505 shares during the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

Insiders Place Their Bets

In other news, COO Eugene M. Noel sold 41,209 shares of the business’s stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $191.05, for a total value of $7,872,979.45. Following the completion of the sale, the chief operating officer owned 29,592 shares of the company’s stock, valued at approximately $5,653,551.60. The trade was a 58.20% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Rajesh Kalathur purchased 2,671 shares of the firm’s stock in a transaction that occurred on Tuesday, March 10th. The stock was acquired at an average price of $185.30 per share, for a total transaction of $494,936.30. Following the completion of the purchase, the director directly owned 4,936 shares of the company’s stock, valued at $914,640.80. This represents a 117.92% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Corporate insiders own 0.17% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Jefferies Financial Group lifted their price target on American Tower from $200.00 to $209.00 and gave the stock a “buy” rating in a report on Thursday, February 26th. The Goldman Sachs Group cut their price objective on American Tower from $230.00 to $210.00 and set a “buy” rating for the company in a research report on Friday, January 16th. Barclays reiterated an “equal weight” rating and set a $200.00 target price (down from $203.00) on shares of American Tower in a research note on Monday, December 1st. JPMorgan Chase & Co. decreased their target price on American Tower from $250.00 to $245.00 and set an “overweight” rating on the stock in a report on Monday, January 12th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of American Tower in a research note on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $217.35.

American Tower Stock Down 1.8%

American Tower stock opened at $167.37 on Thursday. The company’s 50-day moving average price is $182.23 and its two-hundred day moving average price is $182.83. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 3.27. The stock has a market cap of $78.01 billion, a P/E ratio of 31.05, a P/E/G ratio of 0.72 and a beta of 0.92. American Tower Corporation has a twelve month low of $165.08 and a twelve month high of $234.33.

American Tower (NYSE:AMT) last issued its quarterly earnings data on Tuesday, February 24th. The real estate investment trust reported $1.75 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.54 by ($0.79). The firm had revenue of $2.74 billion for the quarter, compared to the consensus estimate of $2.69 billion. American Tower had a return on equity of 24.36% and a net margin of 23.76%.The company’s revenue was up 7.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.62 EPS. American Tower has set its FY 2026 guidance at 10.780-10.950 EPS. As a group, analysts expect that American Tower Corporation will post 10.14 EPS for the current year.

American Tower Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 28th. Shareholders of record on Tuesday, April 14th will be issued a $1.79 dividend. The ex-dividend date of this dividend is Tuesday, April 14th. This represents a $7.16 dividend on an annualized basis and a yield of 4.3%. This is a positive change from American Tower’s previous quarterly dividend of $1.70. American Tower’s payout ratio is currently 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.