Bridgefront Capital LLC Buys New Holdings in American Tower Corporation $AMT

Bridgefront Capital LLC purchased a new position in shares of American Tower Corporation (NYSE:AMT) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 6,941 shares of the real estate investment trust’s stock, valued at approximately $1,335,000.

Other hedge funds also recently made changes to their positions in the company. Brighton Jones LLC boosted its position in American Tower by 113.0% during the fourth quarter. Brighton Jones LLC now owns 3,966 shares of the real estate investment trust’s stock worth $727,000 after purchasing an additional 2,104 shares during the period. Sivia Capital Partners LLC boosted its holdings in shares of American Tower by 34.3% in the 2nd quarter. Sivia Capital Partners LLC now owns 1,442 shares of the real estate investment trust’s stock valued at $319,000 after purchasing an additional 368 shares in the last quarter. United Bank boosted its stake in American Tower by 12.7% in the second quarter. United Bank now owns 6,488 shares of the real estate investment trust’s stock valued at $1,434,000 after buying an additional 733 shares in the last quarter. Acadian Asset Management LLC grew its position in American Tower by 152.6% in the second quarter. Acadian Asset Management LLC now owns 12,901 shares of the real estate investment trust’s stock valued at $2,850,000 after acquiring an additional 7,794 shares during the last quarter. Finally, Candriam S.C.A. raised its stake in American Tower by 0.4% during the second quarter. Candriam S.C.A. now owns 46,273 shares of the real estate investment trust’s stock worth $10,228,000 after acquiring an additional 183 shares in the last quarter. 92.69% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at American Tower

In related news, Director Rajesh Kalathur bought 2,671 shares of the company’s stock in a transaction that occurred on Tuesday, March 10th. The stock was bought at an average cost of $185.30 per share, for a total transaction of $494,936.30. Following the acquisition, the director directly owned 4,936 shares of the company’s stock, valued at $914,640.80. The trade was a 117.92% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Eugene M. Noel sold 41,209 shares of the firm’s stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $191.05, for a total transaction of $7,872,979.45. Following the completion of the transaction, the chief operating officer owned 29,592 shares in the company, valued at $5,653,551.60. This represents a 58.20% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 0.17% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on AMT. Royal Bank Of Canada reduced their price target on shares of American Tower from $220.00 to $195.00 and set a “sector perform” rating on the stock in a research note on Monday, January 12th. Sanford C. Bernstein began coverage on shares of American Tower in a research note on Thursday, March 5th. They issued a “market perform” rating and a $205.00 price objective for the company. TD Cowen cut their target price on shares of American Tower from $235.00 to $225.00 in a research report on Wednesday, February 25th. Jefferies Financial Group boosted their target price on shares of American Tower from $200.00 to $209.00 and gave the stock a “buy” rating in a research note on Thursday, February 26th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of American Tower in a report on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $217.35.

American Tower Stock Up 2.5%

AMT stock opened at $184.39 on Friday. 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’s 50 day moving average is $181.42 and its 200-day moving average is $184.09. American Tower Corporation has a twelve month low of $166.88 and a twelve month high of $234.33. The firm has a market capitalization of $85.94 billion, a PE ratio of 34.21, a P/E/G ratio of 0.77 and a beta of 0.92.

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 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 firm’s revenue was up 7.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.62 EPS. American Tower has set its FY 2026 guidance at 10.780-10.950 EPS. Sell-side analysts expect that American Tower Corporation will post 10.14 EPS for the current fiscal year.

American Tower Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 28th. Investors of record on Tuesday, April 14th will be issued a dividend of $1.79 per share. The ex-dividend date of this dividend is Tuesday, April 14th. This represents a $7.16 annualized dividend and a dividend yield of 3.9%. This is an increase from American Tower’s previous quarterly dividend of $1.70. American Tower’s payout ratio is 132.84%.

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.