Novare Capital Management LLC Cuts Position in American Tower Corporation $AMT

Novare Capital Management LLC lowered its holdings in American Tower Corporation (NYSE:AMT) by 17.1% in the first quarter, Holdings Channel.com reports. The fund owned 25,008 shares of the real estate investment trust’s stock after selling 5,143 shares during the quarter. Novare Capital Management LLC’s holdings in American Tower were worth $4,316,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in AMT. Verde Capital Management increased its holdings in shares of American Tower by 1.3% in the 1st quarter. Verde Capital Management now owns 10,476 shares of the real estate investment trust’s stock valued at $1,808,000 after purchasing an additional 132 shares in the last quarter. Hanson & Doremus Investment Management acquired a new position in American Tower during the first quarter worth about $1,314,000. Brookstone Capital Management increased its holdings in American Tower by 5.2% in the first quarter. Brookstone Capital Management now owns 8,337 shares of the real estate investment trust’s stock valued at $1,439,000 after buying an additional 413 shares in the last quarter. Asset Advisory Group Inc. lifted its position in shares of American Tower by 3.0% during the 1st quarter. Asset Advisory Group Inc. now owns 2,072 shares of the real estate investment trust’s stock valued at $358,000 after acquiring an additional 60 shares during the period. Finally, Triad Wealth Partners LLC boosted its stake in shares of American Tower by 11.7% during the 1st quarter. Triad Wealth Partners LLC now owns 1,449 shares of the real estate investment trust’s stock worth $250,000 after acquiring an additional 152 shares in the last quarter. 92.69% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other American Tower news, EVP Ruth T. Dowling sold 416 shares of the firm’s stock in a transaction dated Wednesday, April 29th. The shares were sold at an average price of $177.54, for a total transaction of $73,856.64. Following the sale, the executive vice president directly owned 29,461 shares of the company’s stock, valued at $5,230,505.94. This trade represents a 1.39% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.08% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on AMT shares. Barclays reduced their price objective on American Tower from $200.00 to $195.00 and set an “equal weight” rating for the company in a report on Thursday, April 16th. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $195.00 price objective on shares of American Tower in a research report on Thursday, April 30th. Mizuho raised shares of American Tower from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $189.00 to $205.00 in a research note on Wednesday, April 15th. Citizens Jmp restated a “market outperform” rating and set a $260.00 target price on shares of American Tower in a research report on Wednesday, April 29th. Finally, TD Cowen reduced their price target on shares of American Tower from $235.00 to $225.00 in a report on Wednesday, February 25th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, American Tower presently has a consensus rating of “Moderate Buy” and an average target price of $216.20.

American Tower Stock Performance

American Tower stock opened at $176.35 on Tuesday. American Tower Corporation has a fifty-two week low of $165.08 and a fifty-two week high of $234.33. The company has a market capitalization of $82.16 billion, a price-to-earnings ratio of 28.49, a PEG ratio of 0.74 and a beta of 0.90. The stock has a fifty day moving average of $181.52 and a two-hundred day moving average of $179.94. The company has a debt-to-equity ratio of 3.07, a quick ratio of 0.43 and a current ratio of 0.43.

American Tower (NYSE:AMT) last issued its quarterly earnings data 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 business 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%.The business’s revenue was up 6.8% on a year-over-year basis. During the same period in the prior year, the business earned $2.75 earnings per share. American Tower has set its FY 2026 guidance at 10.900-11.07 EPS. On average, analysts anticipate that American Tower Corporation will post 10.66 EPS for the current fiscal year.

American Tower Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 13th. Shareholders of record on Friday, June 12th will be issued a $1.79 dividend. This represents a $7.16 dividend on an annualized basis and a yield of 4.1%. The ex-dividend date is Friday, June 12th. American Tower’s dividend payout ratio is 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.