4,646 American Tower Corporation $AMT Shares Bought by Sitrin Capital Management LLC

Sitrin Capital Management LLC grew its position in American Tower Corporation (NYSE:AMT) by 20.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 27,131 shares of the real estate investment trust’s stock after purchasing an additional 4,646 shares during the quarter. American Tower makes up 2.0% of Sitrin Capital Management LLC’s investment portfolio, making the stock its 29th largest position. Sitrin Capital Management LLC’s holdings in American Tower were worth $4,441,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the company. Operose Advisors LLC acquired a new position in shares of American Tower during the second quarter worth $25,000. Allied Private Wealth LLC purchased a new position in American Tower in the second quarter valued at $29,000. Mowery & Schoenfeld Wealth Management LLC acquired a new stake in American Tower in the second quarter valued at $33,000. Kelleher Financial Advisors acquired a new stake in American Tower in the second quarter valued at $37,000. Finally, Cache Advisors LLC acquired a new stake in American Tower in the first quarter valued at $38,000. 92.69% of the stock is owned by hedge funds and other institutional investors.

American Tower Trading Down 1.2%

NYSE AMT opened at $182.99 on Tuesday. The company has a debt-to-equity ratio of 3.12, a current ratio of 0.52 and a quick ratio of 0.52. The firm’s fifty day moving average price is $173.85 and its 200 day moving average price is $175.47. The company has a market capitalization of $85.27 billion, a price-to-earnings ratio of 16.90, a price-to-earnings-growth ratio of 2.97 and a beta of 0.88. American Tower Corporation has a 12 month low of $160.06 and a 12 month high of $196.08.

American Tower (NYSE:AMT) last announced its quarterly earnings results on Tuesday, July 28th. The real estate investment trust reported $2.71 EPS for the quarter, topping the consensus estimate of $1.57 by $1.14. American Tower had a net margin of 31.08% and a return on equity of 32.76%. The firm had revenue of $2.75 billion for the quarter, compared to analyst estimates of $2.70 billion. During the same period last year, the business earned $2.60 EPS. American Tower’s revenue for the quarter was up 4.6% compared to the same quarter last year. American Tower has set its FY 2026 guidance at 11.000-11.170 EPS. On average, sell-side analysts expect that American Tower Corporation will post 10.80 earnings per share for the current fiscal year.

American Tower Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 20th. Shareholders of record on Wednesday, September 30th will be issued a dividend of $1.79 per share. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $7.16 annualized dividend and a dividend yield of 3.9%. American Tower’s dividend payout ratio (DPR) is presently 98.49%.

Insider Transactions at American Tower

In other news, EVP Ruth Dowling sold 1,106 shares of American Tower stock in a transaction dated Wednesday, July 29th. The stock was sold at an average price of $174.96, for a total transaction of $193,505.76. Following the sale, the executive vice president owned 27,711 shares in the company, valued at approximately $4,848,316.56. The trade was a 3.84% decrease in their ownership of the stock. 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. Also, CFO Robert Joseph Meyer sold 5,000 shares of the business’s stock in a transaction dated 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 sale, 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. Over the last 90 days, insiders have sold 6,791 shares of company stock worth $1,204,091. Corporate insiders own 0.08% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on AMT. Jefferies Financial Group decreased their price target on American Tower from $210.00 to $201.00 and set a “buy” rating for the company in a report on Wednesday, July 15th. The Goldman Sachs Group set a $210.00 price objective on American Tower in a report on Tuesday, July 28th. Mizuho set a $208.00 price objective on American Tower in a report on Thursday, August 20th. Sanford C. Bernstein reissued an “outperform” rating and set a $214.00 target price on shares of American Tower in a research report on Wednesday, July 29th. Finally, Scotiabank restated an “outperform” rating on shares of American Tower in a research note on Wednesday, July 29th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, American Tower currently has an average rating of “Moderate Buy” and an average target price of $215.00.

American Tower Company Profile

American Tower Corporation (NYSE:AMT) is a real estate investment trust that owns, operates and develops wireless communications infrastructure. Its portfolio primarily includes communications towers, rooftop sites, distributed antenna systems and other infrastructure used by wireless carriers, broadcasters, governments and businesses to support voice, data and video communications.

The company leases space on its sites to multiple customers, allowing them to install antennas and related equipment without building and maintaining individual tower locations.