Longfellow Investment Management Co. LLC Boosts Holdings in American Tower Corporation $AMT

Longfellow Investment Management Co. LLC increased its holdings in American Tower Corporation (NYSE:AMT) by 822.0% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 18,763 shares of the real estate investment trust’s stock after acquiring an additional 16,728 shares during the quarter. American Tower accounts for 0.7% of Longfellow Investment Management Co. LLC’s portfolio, making the stock its 16th largest position. Longfellow Investment Management Co. LLC’s holdings in American Tower were worth $3,294,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in AMT. Brighton Jones LLC raised its position in shares of American Tower by 113.0% during the fourth quarter. Brighton Jones LLC now owns 3,966 shares of the real estate investment trust’s stock valued at $727,000 after buying an additional 2,104 shares during the last quarter. Sivia Capital Partners LLC raised its position in shares of American Tower by 34.3% during the second quarter. Sivia Capital Partners LLC now owns 1,442 shares of the real estate investment trust’s stock valued at $319,000 after buying an additional 368 shares during the last quarter. United Bank raised its position in shares of American Tower by 12.7% during the second quarter. United Bank now owns 6,488 shares of the real estate investment trust’s stock valued at $1,434,000 after buying an additional 733 shares during the last quarter. Treasurer of the State of North Carolina increased its position in American Tower by 2.2% in the second quarter. Treasurer of the State of North Carolina now owns 218,511 shares of the real estate investment trust’s stock worth $48,295,000 after purchasing an additional 4,778 shares during the last quarter. Finally, Ieq Capital LLC increased its position in American Tower by 52.2% in the second quarter. Ieq Capital LLC now owns 34,248 shares of the real estate investment trust’s stock worth $7,570,000 after purchasing an additional 11,751 shares during the last quarter. Institutional investors own 92.69% of the company’s stock.

Insider Activity

In other news, Director Rajesh Kalathur acquired 2,671 shares of the firm’s stock in a transaction that occurred on Tuesday, March 10th. The stock was purchased at an average cost of $185.30 per share, for a total transaction of $494,936.30. Following the completion of the acquisition, the director directly owned 4,936 shares of the company’s stock, valued at $914,640.80. The trade was a 117.92% increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Ruth T. Dowling sold 416 shares of American Tower stock in a transaction dated Wednesday, April 29th. The shares were sold at an average price of $177.54, for a total value of $73,856.64. Following the completion of the sale, the executive vice president owned 29,461 shares of the company’s stock, valued at $5,230,505.94. The trade was a 1.39% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.08% of the company’s stock.

American Tower Stock Down 0.0%

Shares of AMT opened at $193.88 on Friday. The firm has a market capitalization of $90.33 billion, a P/E ratio of 31.32, a P/E/G ratio of 0.81 and a beta of 0.90. American Tower Corporation has a 12-month low of $165.08 and a 12-month high of $234.33. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 3.07. The firm has a fifty day moving average price of $179.08 and a 200-day moving average price of $179.58.

American Tower (NYSE:AMT) last issued its earnings results on Tuesday, April 28th. The real estate investment trust reported $2.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.60 by $1.24. The firm had revenue of $2.74 billion during the quarter, compared to analyst estimates of $2.66 billion. American Tower had a net margin of 26.81% and a return on equity of 27.79%. The business’s revenue was up 6.8% on a year-over-year basis. During the same period in the previous year, the firm earned $2.75 earnings per share. American Tower has set its FY 2026 guidance at 10.900-11.07 EPS. Equities research analysts expect that American Tower Corporation will post 10.67 earnings per share for the current year.

American Tower Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 13th. Investors of record on Friday, June 12th will be issued a $1.79 dividend. This represents a $7.16 annualized dividend and a dividend yield of 3.7%. The ex-dividend date is Friday, June 12th. American Tower’s payout ratio is presently 115.67%.

Analyst Ratings Changes

AMT has been the topic of several research reports. Raymond James Financial restated a “strong-buy” rating and issued a $240.00 price target on shares of American Tower in a research report on Wednesday, April 29th. Citizens Jmp restated a “market outperform” rating and issued a $260.00 price target on shares of American Tower in a research report on Wednesday, April 29th. UBS Group reduced their price target on shares of American Tower from $254.00 to $248.00 and set a “buy” rating on the stock in a research report on Wednesday, February 25th. JPMorgan Chase & Co. reduced their price target on shares of American Tower from $245.00 to $240.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 29th. Finally, Truist Financial boosted their price target on shares of American Tower from $205.00 to $208.00 and gave the stock a “buy” rating in a research report on Thursday, April 30th. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, American Tower has an average rating of “Moderate Buy” and a consensus target price of $216.20.

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.