Longfellow Investment Management Co. LLC Acquires Shares of 18,763 American Tower Corporation $AMT

Longfellow Investment Management Co. LLC purchased a new stake in shares of American Tower Corporation (NYSE:AMT) in the second quarter, Holdings Channel reports. The firm purchased 18,763 shares of the real estate investment trust’s stock, valued at approximately $3,069,000.

A number of other hedge funds have also bought and sold shares of the business. Old West Investment Management LLC purchased a new stake in American Tower in the second quarter worth $543,000. HBK Sorce Advisory LLC purchased a new position in shares of American Tower during the 2nd quarter valued at $351,000. J.Safra Asset Management Corp bought a new position in shares of American Tower during the 2nd quarter worth $48,000. Flputnam Investment Management Co. bought a new position in shares of American Tower during the 2nd quarter worth $369,000. Finally, Global Retirement Partners LLC purchased a new stake in American Tower in the 2nd quarter worth about $2,401,000. 92.69% of the stock is currently owned by institutional investors.

American Tower Stock Performance

NYSE AMT opened at $175.68 on Monday. American Tower Corporation has a 1 year low of $160.06 and a 1 year high of $214.79. 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 stock has a market capitalization of $81.86 billion, a PE ratio of 24.17, a P/E/G ratio of 2.79 and a beta of 0.90. The company’s 50 day simple moving average is $172.82 and its two-hundred day simple moving average is $177.93.

American Tower (NYSE:AMT) last released its quarterly earnings results on Tuesday, July 28th. The real estate investment trust reported $2.71 EPS for the quarter, beating analysts’ consensus estimates of $1.57 by $1.14. The firm had revenue of $2.75 billion during the quarter, compared to analyst estimates of $2.70 billion. American Tower had a net margin of 31.08% and a return on equity of 32.76%. The business’s revenue for the quarter was up 4.6% on a year-over-year basis. During the same period in the previous year, the business earned $2.60 EPS. American Tower has set its FY 2026 guidance at 11.000-11.170 EPS. Analysts predict that American Tower Corporation will post 10.78 earnings per share for the current fiscal year.

American Tower Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 13th. Investors of record on Friday, June 12th were paid a dividend of $1.79 per share. The ex-dividend date of this dividend was Friday, June 12th. This represents a $7.16 annualized dividend and a yield of 4.1%. American Tower’s dividend payout ratio (DPR) is currently 98.49%.

Insider Activity

In other American Tower news, CFO Robert Joseph Meyer sold 5,000 shares of the company’s stock in a transaction dated Wednesday, July 29th. The stock was sold at an average price of $178.89, for a total value of $894,450.00. Following the transaction, the chief financial officer directly owned 21,428 shares in the company, valued at $3,833,254.92. This represents a 18.92% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Ruth T. Dowling sold 1,106 shares of American Tower stock in a transaction dated Wednesday, July 29th. The shares were sold at an average price of $174.96, for a total value of $193,505.76. Following the sale, the executive vice president owned 27,711 shares of the company’s stock, valued at approximately $4,848,316.56. This trade represents a 3.84% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 6,791 shares of company stock valued at $1,204,091. 0.08% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. BMO Capital Markets upped their price objective on shares of American Tower from $190.00 to $195.00 and gave the company a “market perform” rating in a report on Wednesday, July 29th. Wolfe Research upgraded shares of American Tower from a “peer perform” rating to an “outperform” rating and set a $188.00 price objective for the company in a research note on Wednesday, July 8th. The Goldman Sachs Group set a $210.00 target price on shares of American Tower in a report on Tuesday, July 28th. JPMorgan Chase & Co. cut their price target on American Tower from $245.00 to $240.00 and set an “overweight” rating for the company in a report on Wednesday, April 29th. Finally, Citizens Jmp reiterated a “market outperform” rating and issued a $260.00 price target on shares of American Tower in a research report on Wednesday, April 29th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, American Tower presently has an average rating of “Moderate Buy” and an average target price of $215.14.

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.