94,361 Shares in American Tower Corporation $AMT Acquired by Fenimore Asset Management Inc

Fenimore Asset Management Inc bought a new position in shares of American Tower Corporation (NYSE:AMT) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 94,361 shares of the real estate investment trust’s stock, valued at approximately $15,446,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Operose Advisors LLC purchased a new position in shares of American Tower in the 2nd quarter valued at about $25,000. Allied Private Wealth LLC acquired a new stake in American Tower during the second quarter worth approximately $29,000. Mowery & Schoenfeld Wealth Management LLC purchased a new stake in shares of American Tower during the 2nd quarter worth approximately $33,000. Kelleher Financial Advisors purchased a new position in shares of American Tower in the 2nd quarter valued at $37,000. Finally, Cache Advisors LLC acquired a new position in American Tower in the first quarter valued at $38,000. 92.69% of the stock is currently owned by institutional investors and hedge funds.

American Tower Price Performance

American Tower stock traded up $0.48 during midday trading on Thursday, reaching $166.66. The company’s stock had a trading volume of 4,437,452 shares, compared to its average volume of 3,049,115. American Tower Corporation has a fifty-two week low of $160.06 and a fifty-two week high of $196.08. The company has a debt-to-equity ratio of 3.12, a quick ratio of 0.52 and a current ratio of 0.52. The stock’s 50 day simple moving average is $172.61 and its 200 day simple moving average is $174.99. The firm has a market capitalization of $77.66 billion, a PE ratio of 22.92, a P/E/G ratio of 2.65 and a beta of 0.88.

American Tower (NYSE:AMT) last posted its quarterly earnings results on Tuesday, July 28th. The real estate investment trust reported $2.71 earnings per share for the quarter, topping analysts’ consensus estimates of $1.57 by $1.14. The business had revenue of $2.75 billion for the quarter, compared to analysts’ expectations of $2.70 billion. American Tower had a net margin of 31.08% and a return on equity of 32.76%. The business’s revenue for the quarter was up 4.6% on a year-over-year basis. During the same period in the prior year, the company posted $2.60 EPS. American Tower has set its FY 2026 guidance at 11.000-11.170 EPS. On average, equities research analysts forecast that American Tower Corporation will post 10.8 earnings per share for the current year.

American Tower Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 20th. Stockholders of record on Wednesday, September 30th will be given a dividend of $1.79 per share. This represents a $7.16 dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date is Wednesday, September 30th. American Tower’s dividend payout ratio (DPR) is presently 98.49%.

Insider Transactions at American Tower

In related news, EVP Ruth Dowling sold 1,106 shares of the company’s stock in a transaction that occurred on Wednesday, July 29th. The stock was sold at an average price of $174.96, for a total value of $193,505.76. Following the sale, the executive vice president owned 27,711 shares in the company, valued at $4,848,316.56. This represents a 3.84% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Robert Joseph Meyer sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 29th. The shares were sold at an average price of $178.89, for a total value of $894,450.00. Following the completion of the transaction, the chief financial officer directly owned 21,428 shares of the company’s stock, valued at $3,833,254.92. The trade was a 18.92% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 6,791 shares of company stock valued at $1,204,091 in the last quarter. 0.08% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

AMT has been the subject of several research reports. Barclays boosted their target price on American Tower from $198.00 to $199.00 and gave the company an “overweight” rating in a report on Wednesday, September 30th. Wolfe Research upgraded American Tower from a “peer perform” rating to an “outperform” rating and set a $188.00 price objective for the company in a research note on Wednesday, July 8th. Royal Bank Of Canada upgraded shares of American Tower from a “sector perform” rating to an “outperform” rating and raised their target price for the stock from $195.00 to $205.00 in a research report on Friday, June 26th. Jefferies Financial Group reduced their price target on shares of American Tower from $210.00 to $201.00 and set a “buy” rating for the company in a research report on Wednesday, July 15th. Finally, Scotiabank reaffirmed an “outperform” rating on shares of American Tower in a report on Wednesday, July 29th. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, American Tower presently has a consensus rating of “Moderate Buy” and an average target price of $215.48.

About American Tower

American Tower Corporation (NYSE: AMT) is a global real estate investment trust that owns, operates and develops communications infrastructure. Its portfolio includes wireless and broadcast towers, rooftop sites, distributed antenna systems and other facilities that support wireless communications, television and radio broadcasting, government communications and other connectivity services.

The company leases space on its communications sites to wireless carriers, broadcasters, government agencies and other customers.