Northeast Investment Management Sells 7,285 Shares of American Tower Corporation $AMT

Northeast Investment Management decreased its position in American Tower Corporation (NYSE:AMT) by 4.4% during the fourth quarter, HoldingsChannel.com reports. The fund owned 159,766 shares of the real estate investment trust’s stock after selling 7,285 shares during the quarter. American Tower comprises 1.1% of Northeast Investment Management’s investment portfolio, making the stock its 29th biggest position. Northeast Investment Management’s holdings in American Tower were worth $28,050,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. Richards Merrill & Peterson Inc. bought a new position in shares of American Tower during the 4th quarter valued at approximately $25,000. Oakworth Capital Inc. increased its position in shares of American Tower by 90.7% during the 4th quarter. Oakworth Capital Inc. now owns 143 shares of the real estate investment trust’s stock valued at $25,000 after purchasing an additional 68 shares during the last quarter. Holos Integrated Wealth LLC bought a new position in shares of American Tower during the 4th quarter valued at approximately $27,000. Triumph Capital Management bought a new position in shares of American Tower during the 3rd quarter valued at approximately $29,000. Finally, Steph & Co. increased its position in shares of American Tower by 87.2% during the 4th quarter. Steph & Co. now owns 176 shares of the real estate investment trust’s stock valued at $31,000 after purchasing an additional 82 shares during the last quarter. Institutional investors own 92.69% of the company’s stock.

Insiders Place Their Bets

In other American Tower news, COO Eugene M. Noel sold 41,209 shares of the company’s 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 completion of the sale, the chief operating officer directly owned 29,592 shares in the company, valued at approximately $5,653,551.60. This represents a 58.20% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Ruth T. Dowling sold 416 shares of the company’s stock in a transaction on Wednesday, April 29th. The stock was sold at an average price of $177.54, for a total value of $73,856.64. Following the completion of the sale, the executive vice president owned 29,461 shares of the company’s stock, valued at $5,230,505.94. This represents a 1.39% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 42,181 shares of company stock worth $8,046,071. 0.08% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. BMO Capital Markets boosted their target price on American Tower from $185.00 to $200.00 and gave the company a “market perform” rating in a research report on Wednesday, February 25th. Scotiabank boosted their target price on American Tower from $214.00 to $218.00 and gave the company an “outperform” rating in a research report on Wednesday, April 29th. UBS Group cut their target price 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. Mizuho raised American Tower from a “neutral” rating to an “outperform” rating and boosted their target price for the company from $189.00 to $205.00 in a research report on Wednesday, April 15th. Finally, Royal Bank Of Canada reissued a “sector perform” rating and set a $195.00 target price on shares of American Tower in a research report on Thursday, April 30th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, American Tower presently has an average rating of “Moderate Buy” and a consensus target price of $218.05.

American Tower Stock Performance

Shares of American Tower stock opened at $178.80 on Wednesday. The stock’s fifty day moving average is $178.92 and its two-hundred day moving average is $179.43. The company has a market capitalization of $83.30 billion, a PE ratio of 28.89, a price-to-earnings-growth ratio of 0.74 and a beta of 0.90. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 3.07. American Tower Corporation has a 52 week low of $165.08 and a 52 week high of $234.33.

American Tower (NYSE:AMT) last announced its quarterly earnings data on Tuesday, April 28th. The real estate investment trust reported $2.84 EPS for the quarter, beating the consensus estimate of $1.60 by $1.24. The company had revenue of $2.74 billion for the quarter, compared to the consensus estimate of $2.66 billion. American Tower had a return on equity of 27.79% and a net margin of 26.81%.American Tower’s quarterly revenue was up 6.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.75 EPS. American Tower has set its FY 2026 guidance at 10.900-11.07 EPS. As a group, analysts expect that American Tower Corporation will post 10.67 earnings per share for the current year.

American Tower Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 28th. Shareholders of record on Tuesday, April 14th were given a $1.79 dividend. This is a boost from American Tower’s previous quarterly dividend of $1.70. The ex-dividend date of this dividend was Tuesday, April 14th. This represents a $7.16 annualized dividend and a yield of 4.0%. American Tower’s dividend payout ratio is currently 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.