American Tower Corporation $AMT Shares Newly Purchased by Norway Savings Bank

Norway Savings Bank acquired a new position in shares of American Tower Corporation (NYSE:AMT) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 4,105 shares of the real estate investment trust’s stock, valued at approximately $672,000.

A number of other institutional investors also recently bought and sold shares of AMT. Operose Advisors LLC purchased a new stake in shares of American Tower in the 2nd quarter valued at approximately $25,000. Allied Private Wealth LLC purchased a new stake in shares of American Tower during the 2nd quarter valued at approximately $29,000. Mowery & Schoenfeld Wealth Management LLC purchased a new stake in shares of American Tower during the 2nd quarter valued at approximately $33,000. Kelleher Financial Advisors acquired a new position in American Tower in the second quarter valued at approximately $37,000. Finally, Cache Advisors LLC purchased a new position in American Tower in the first quarter worth approximately $38,000. 92.69% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Weiss Ratings downgraded American Tower from a “hold (c)” rating to a “hold (c-)” rating in a research report on Thursday, October 8th. TD Cowen increased their price target on American Tower from $225.00 to $227.00 and gave the stock a “buy” rating in a report on Wednesday, July 29th. Mizuho set a $208.00 price objective on American Tower in a research report on Thursday, August 20th. Jefferies Financial Group reduced their price objective on shares of American Tower from $210.00 to $201.00 and set a “buy” rating on the stock in a report on Wednesday, July 15th. Finally, Scotiabank reaffirmed an “outperform” rating on shares of American Tower in a research report on Wednesday, July 29th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $214.90.

American Tower Trading Up 1.2%

Shares of NYSE AMT traded up $2.21 during trading on Tuesday, reaching $185.24. The stock had a trading volume of 848,647 shares, compared to its average volume of 3,064,168. The company has a debt-to-equity ratio of 3.12, a quick ratio of 0.52 and a current ratio of 0.52. The company has a market cap of $86.31 billion, a P/E ratio of 25.48, a PEG ratio of 2.97 and a beta of 0.88. American Tower Corporation has a fifty-two week low of $160.06 and a fifty-two week high of $196.08. The business’s 50-day moving average price is $173.85 and its 200-day moving average price is $175.47.

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

American Tower Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 20th. Shareholders of record on Wednesday, September 30th will be paid a dividend of $1.79 per share. The ex-dividend date is Wednesday, September 30th. This represents a $7.16 dividend on an annualized basis and a yield of 3.9%. American Tower’s dividend payout ratio is 98.49%.

Insider Transactions at American Tower

In related news, CFO Robert Joseph Meyer sold 5,000 shares of American Tower stock in a transaction that occurred on 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 transaction, the chief financial officer owned 21,428 shares in the company, valued at approximately $3,833,254.92. The trade was a 18.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Rajesh Kalathur bought 2,829 shares of the business’s stock in a transaction that occurred on Friday, August 21st. The shares were acquired at an average cost of $177.00 per share, for a total transaction of $500,733.00. Following the completion of the purchase, the director owned 7,765 shares in the company, valued at $1,374,405. This trade represents a 57.31% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last quarter, insiders have sold 6,791 shares of company stock valued at $1,204,091. 0.08% of the stock is currently owned by corporate insiders.

About American Tower

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.