Bridgefront Capital LLC Purchases New Holdings in American Tower Corporation $AMT

Bridgefront Capital LLC acquired a new position in shares of American Tower Corporation (NYSE:AMT) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 6,941 shares of the real estate investment trust’s stock, valued at approximately $1,335,000.

A number of other large investors have also modified their holdings of AMT. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of American Tower by 8.9% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 96,793 shares of the real estate investment trust’s stock valued at $18,615,000 after buying an additional 7,872 shares in the last quarter. Eastern Bank lifted its position in American Tower by 69.6% during the 3rd quarter. Eastern Bank now owns 139,091 shares of the real estate investment trust’s stock worth $26,750,000 after buying an additional 57,078 shares in the last quarter. Machina Capital S.A.S. bought a new stake in American Tower during the 3rd quarter worth about $2,871,000. Krilogy Financial LLC bought a new stake in American Tower during the 3rd quarter worth about $1,044,000. Finally, Commerzbank Aktiengesellschaft FI increased its position in American Tower by 92.4% in the 3rd quarter. Commerzbank Aktiengesellschaft FI now owns 61,397 shares of the real estate investment trust’s stock valued at $11,808,000 after acquiring an additional 29,486 shares in the last quarter. 92.69% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of American Tower in a research report on Monday, December 29th. Scotiabank lowered their price target on shares of American Tower from $220.00 to $214.00 and set a “sector outperform” rating for the company in a report on Wednesday, February 25th. UBS Group reduced their price objective on American Tower from $254.00 to $248.00 and set a “buy” rating on the stock in a report on Wednesday, February 25th. BMO Capital Markets increased their price objective 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. Finally, Mizuho lowered their target price on American Tower from $217.00 to $189.00 and set a “neutral” rating for the company in a research note on Monday, January 12th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and seven have given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $217.35.

Insider Buying and Selling

In related news, COO Eugene M. Noel sold 41,209 shares of the stock in a transaction dated 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 transaction, the chief operating officer directly owned 29,592 shares in the company, valued at approximately $5,653,551.60. This trade represents a 58.20% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Rajesh Kalathur purchased 2,671 shares of the firm’s stock in a transaction dated Tuesday, March 10th. The shares were acquired at an average cost of $185.30 per share, with a total value of $494,936.30. Following the completion of the purchase, the director directly owned 4,936 shares in the company, valued at approximately $914,640.80. This represents a 117.92% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders own 0.17% of the company’s stock.

American Tower Trading Up 2.5%

Shares of NYSE AMT opened at $184.39 on Friday. American Tower Corporation has a twelve month low of $166.88 and a twelve month high of $234.33. The stock has a market cap of $85.94 billion, a price-to-earnings ratio of 34.21, a P/E/G ratio of 0.77 and a beta of 0.92. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 3.27. The company’s fifty day moving average is $181.42 and its 200-day moving average is $184.09.

American Tower (NYSE:AMT) last released its quarterly earnings data on Tuesday, February 24th. The real estate investment trust reported $1.75 EPS for the quarter, missing analysts’ consensus estimates of $2.54 by ($0.79). The firm had revenue of $2.74 billion during the quarter, compared to the consensus estimate of $2.69 billion. American Tower had a net margin of 23.76% and a return on equity of 24.36%. American Tower’s quarterly revenue was up 7.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.62 EPS. American Tower has set its FY 2026 guidance at 10.780-10.950 EPS. Equities research 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. Investors of record on Tuesday, April 14th will be given a $1.79 dividend. The ex-dividend date is Tuesday, April 14th. This represents a $7.16 annualized dividend and a dividend yield of 3.9%. This is a boost from American Tower’s previous quarterly dividend of $1.70. American Tower’s payout ratio is presently 132.84%.

American Tower Company 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.