Bath Savings Trust Co Cuts Position in American Tower Corporation $AMT

Bath Savings Trust Co decreased its stake in American Tower Corporation (NYSE:AMT) by 54.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 27,407 shares of the real estate investment trust’s stock after selling 32,353 shares during the period. Bath Savings Trust Co’s holdings in American Tower were worth $4,812,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. DAVENPORT & Co LLC increased its holdings in American Tower by 20.7% in the fourth quarter. DAVENPORT & Co LLC now owns 1,052,121 shares of the real estate investment trust’s stock valued at $185,118,000 after buying an additional 180,466 shares in the last quarter. Bill Few Associates Inc. boosted its stake in shares of American Tower by 5.5% during the 4th quarter. Bill Few Associates Inc. now owns 20,011 shares of the real estate investment trust’s stock worth $3,513,000 after acquiring an additional 1,044 shares in the last quarter. Avanza Fonder AB purchased a new stake in shares of American Tower during the 4th quarter worth approximately $757,000. First Heartland Consultants Inc. grew its holdings in shares of American Tower by 13.8% in the 4th quarter. First Heartland Consultants Inc. now owns 3,031 shares of the real estate investment trust’s stock worth $532,000 after acquiring an additional 367 shares during the period. Finally, Somerset Trust Co grew its holdings in shares of American Tower by 1.6% in the 4th quarter. Somerset Trust Co now owns 5,927 shares of the real estate investment trust’s stock worth $1,041,000 after acquiring an additional 91 shares during the period. 92.69% of the stock is currently owned by institutional investors and hedge funds.

American Tower Stock Performance

Shares of AMT opened at $170.25 on Wednesday. American Tower Corporation has a 1 year low of $166.88 and a 1 year high of $234.33. The company’s 50 day simple moving average is $182.43 and its 200 day simple moving average is $182.94. The company has a market capitalization of $79.35 billion, a price-to-earnings ratio of 31.59, a PEG ratio of 0.74 and a beta of 0.92. The company has a debt-to-equity ratio of 3.27, a quick ratio of 0.60 and a current ratio of 0.60.

American Tower (NYSE:AMT) last released its earnings results on Tuesday, February 24th. The real estate investment trust reported $1.75 EPS for the quarter, missing the consensus estimate of $2.54 by ($0.79). The firm had revenue of $2.74 billion during the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same period in the previous year, the firm posted $2.62 earnings per share. American Tower has set its FY 2026 guidance at 10.780-10.950 EPS. On average, sell-side analysts predict that American Tower Corporation will post 10.14 EPS for the current year.

American Tower Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 28th. Stockholders of record on Tuesday, April 14th will be given a $1.79 dividend. This is an increase from American Tower’s previous quarterly dividend of $1.70. This represents a $7.16 dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date of this dividend is Tuesday, April 14th. American Tower’s dividend payout ratio (DPR) is presently 126.16%.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Barclays reaffirmed an “equal weight” rating and set a $200.00 price objective (down from $203.00) on shares of American Tower in a report on Monday, December 1st. Mizuho dropped their price target on American Tower from $217.00 to $189.00 and set a “neutral” rating for the company in a research report on Monday, January 12th. Scotiabank decreased their price objective on shares of American Tower from $220.00 to $214.00 and set a “sector outperform” rating on the stock in a research report on Wednesday, February 25th. Sanford C. Bernstein assumed 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 on the stock. Finally, The Goldman Sachs Group dropped their target price on shares of American Tower from $230.00 to $210.00 and set a “buy” rating for the company in a report on Friday, January 16th. One equities 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 company’s stock. According to MarketBeat, American Tower presently has a consensus rating of “Moderate Buy” and an average price target of $217.35.

Insider Buying and Selling at American Tower

In related news, Director Rajesh Kalathur acquired 2,671 shares of the company’s stock in a transaction dated Tuesday, March 10th. The stock was bought at an average price of $185.30 per share, with a total value of $494,936.30. Following the purchase, the director directly owned 4,936 shares in the company, valued at $914,640.80. The trade was a 117.92% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 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 sale, the chief operating officer directly owned 29,592 shares in the company, valued at $5,653,551.60. This represents a 58.20% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 0.18% of the company’s stock.

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.