Rockland Trust Co. Lowers Stake in American Tower Corporation $AMT

Rockland Trust Co. decreased its position in American Tower Corporation (NYSE:AMT) by 25.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,956 shares of the real estate investment trust’s stock after selling 2,992 shares during the quarter. Rockland Trust Co.’s holdings in American Tower were worth $1,572,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in AMT. Vanguard Group Inc. boosted its position in shares of American Tower by 1.0% during the third quarter. Vanguard Group Inc. now owns 63,640,168 shares of the real estate investment trust’s stock worth $12,239,277,000 after buying an additional 611,801 shares during the period. Invesco Ltd. lifted its stake in American Tower by 3.1% during the 3rd quarter. Invesco Ltd. now owns 6,888,633 shares of the real estate investment trust’s stock worth $1,324,822,000 after acquiring an additional 208,109 shares in the last quarter. Capital Research Global Investors lifted its stake in American Tower by 0.3% during the 3rd quarter. Capital Research Global Investors now owns 4,924,771 shares of the real estate investment trust’s stock worth $947,132,000 after acquiring an additional 15,145 shares in the last quarter. Legal & General Group Plc boosted its holdings in American Tower by 3.5% during the 3rd quarter. Legal & General Group Plc now owns 4,653,248 shares of the real estate investment trust’s stock valued at $894,913,000 after acquiring an additional 159,223 shares during the period. Finally, Lazard Asset Management LLC grew its position in American Tower by 1,984.8% in the 3rd quarter. Lazard Asset Management LLC now owns 4,464,382 shares of the real estate investment trust’s stock valued at $858,552,000 after acquiring an additional 4,250,242 shares in the last quarter. 92.69% of the stock is currently owned by institutional investors and hedge funds.

American Tower Stock Performance

Shares of AMT opened at $172.53 on Wednesday. American Tower Corporation has a 1 year low of $165.08 and a 1 year high of $234.33. The stock has a market capitalization of $80.41 billion, a PE ratio of 32.01, a PEG ratio of 0.72 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. The stock has a 50-day simple moving average of $181.32 and a 200-day simple moving average of $182.06.

American Tower (NYSE:AMT) last issued its earnings results on Tuesday, February 24th. The real estate investment trust reported $1.75 earnings per share for the quarter, missing the consensus estimate of $2.54 by ($0.79). American Tower had a net margin of 23.76% and a return on equity of 24.36%. The firm had revenue of $2.74 billion during the quarter, compared to analyst estimates of $2.69 billion. During the same period last year, the business earned $2.62 EPS. The firm’s revenue was up 7.5% compared to the same quarter last year. American Tower has set its FY 2026 guidance at 10.780-10.950 EPS. On average, analysts predict that American Tower Corporation will post 10.14 earnings per share for the current fiscal year.

American Tower Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 28th. Stockholders of record on Tuesday, April 14th will be issued a $1.79 dividend. This represents a $7.16 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date is Tuesday, April 14th. This is a positive change from American Tower’s previous quarterly dividend of $1.70. American Tower’s dividend payout ratio (DPR) is 126.16%.

Insiders Place Their Bets

In related news, COO Eugene M. Noel sold 41,209 shares of the stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $191.05, for a total value of $7,872,979.45. Following the transaction, the chief operating officer owned 29,592 shares of the company’s stock, valued at $5,653,551.60. This represents a 58.20% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Rajesh Kalathur purchased 2,671 shares of the business’s stock in a transaction on Tuesday, March 10th. The stock was acquired at an average price of $185.30 per share, for a total transaction of $494,936.30. Following the completion of the purchase, the director owned 4,936 shares of the company’s stock, valued at $914,640.80. This represents a 117.92% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 0.18% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of analysts have issued reports on the stock. TD Cowen cut their price target on shares of American Tower from $235.00 to $225.00 in a research note on Wednesday, February 25th. UBS Group cut their target price on shares of American Tower from $254.00 to $248.00 and set a “buy” rating on the stock in a research note on Wednesday, February 25th. Weiss Ratings reiterated a “hold (c)” rating on shares of American Tower in a report on Monday, December 29th. New Street Research raised shares of American Tower from a “neutral” rating to a “buy” rating and set a $203.00 price target for the company in a research report on Monday, January 5th. Finally, Morgan Stanley dropped their price target on shares of American Tower from $225.00 to $220.00 and set an “overweight” rating for the company in a research note on Wednesday, February 25th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $216.76.

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.