Hanson & Doremus Investment Management Acquires New Shares in American Tower Corporation $AMT

Hanson & Doremus Investment Management purchased a new stake in American Tower Corporation (NYSE:AMT) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 7,614 shares of the real estate investment trust’s stock, valued at approximately $1,314,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. CIBC Bancorp USA Inc. bought a new stake in shares of American Tower during the 3rd quarter worth $35,633,000. Nordea Investment Management AB raised its holdings in 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 worth $306,284,000 after acquiring an additional 164,645 shares during the period. Rathbones Group PLC raised its holdings in American Tower by 14.9% in the 4th quarter. Rathbones Group PLC now owns 474,216 shares of the real estate investment trust’s stock worth $83,258,000 after acquiring an additional 61,428 shares during the period. Legal & General Group Plc lifted its position in American Tower by 4.7% during the 4th quarter. Legal & General Group Plc now owns 4,873,695 shares of the real estate investment trust’s stock worth $855,675,000 after acquiring an additional 220,447 shares during the last quarter. Finally, Clearstead Trust LLC lifted its position in American Tower by 69.0% during the 3rd quarter. Clearstead Trust LLC now owns 24,477 shares of the real estate investment trust’s stock worth $4,707,000 after acquiring an additional 9,990 shares during the last quarter. Institutional investors own 92.69% of the company’s stock.

American Tower Trading Up 0.2%

Shares of AMT opened at $176.35 on Tuesday. American Tower Corporation has a 1 year low of $165.08 and a 1 year 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 has a 50 day simple moving average of $181.52 and a 200-day simple moving average of $179.94. The stock has a market cap of $82.16 billion, a PE ratio of 28.49, a PEG ratio of 0.74 and a beta of 0.90.

American Tower (NYSE:AMT) last announced its quarterly earnings results on Tuesday, April 28th. The real estate investment trust reported $2.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.60 by $1.24. The firm had revenue of $2.74 billion during the quarter, compared to the consensus estimate of $2.66 billion. American Tower had a net margin of 26.81% and a return on equity of 27.79%. The firm’s quarterly revenue was up 6.8% on a year-over-year basis. During the same period last year, the firm posted $2.75 EPS. American Tower has set its FY 2026 guidance at 10.900-11.07 EPS. On average, sell-side analysts predict that American Tower Corporation will post 10.66 EPS for the current fiscal year.

American Tower Dividend Announcement

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

Insiders Place Their Bets

In other news, EVP Ruth T. Dowling sold 556 shares of American Tower stock in a transaction on Tuesday, April 28th. The stock was sold at an average price of $178.48, for a total value of $99,234.88. Following the completion of the sale, the executive vice president directly owned 29,877 shares of the company’s stock, valued at approximately $5,332,446.96. This trade represents a 1.83% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.08% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of analysts have issued reports on AMT shares. Citizens Jmp reaffirmed a “market outperform” rating and issued a $260.00 target price on shares of American Tower in a report on Wednesday, April 29th. JPMorgan Chase & Co. cut their price target on American Tower from $245.00 to $240.00 and set an “overweight” rating for the company in a report on Wednesday, April 29th. Barclays lowered their price objective on shares of American Tower from $200.00 to $195.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 16th. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $195.00 target price on shares of American Tower in a research report on Thursday, April 30th. Finally, Raymond James Financial reiterated a “strong-buy” rating and set a $240.00 target price on shares of American Tower in a research note on Wednesday, April 29th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, American Tower has an average rating of “Moderate Buy” and an average price target of $216.20.

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.