Novare Capital Management LLC Sells 3,841 Shares of American Tower Corporation $AMT

Novare Capital Management LLC trimmed its holdings in American Tower Corporation (NYSE:AMT) by 11.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 30,151 shares of the real estate investment trust’s stock after selling 3,841 shares during the quarter. Novare Capital Management LLC’s holdings in American Tower were worth $5,294,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in AMT. Northwestern Mutual Wealth Management Co. boosted its stake in American Tower by 20,721.6% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 9,712,672 shares of the real estate investment trust’s stock worth $1,705,254,000 after purchasing an additional 9,666,025 shares during the period. Lazard Asset Management LLC boosted its stake 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 worth $858,552,000 after purchasing an additional 4,250,242 shares during the period. Viking Global Investors LP boosted its stake in American Tower by 233.5% in the 2nd quarter. Viking Global Investors LP now owns 2,797,125 shares of the real estate investment trust’s stock worth $618,221,000 after purchasing an additional 1,958,329 shares during the period. Barrow Hanley Mewhinney & Strauss LLC bought a new position in American Tower in the 3rd quarter worth approximately $305,872,000. Finally, Arrowstreet Capital Limited Partnership boosted its stake in American Tower by 35.0% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 2,796,007 shares of the real estate investment trust’s stock worth $537,728,000 after purchasing an additional 724,504 shares during the period. 92.69% of the stock is currently owned by institutional investors.

Insider Activity at American Tower

In related news, EVP Ruth T. Dowling sold 416 shares of the stock in a transaction on Wednesday, April 29th. The stock was sold at an average price of $177.54, for a total transaction of $73,856.64. Following the sale, the executive vice president owned 29,461 shares in the company, valued at approximately $5,230,505.94. This represents a 1.39% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Eugene M. Noel sold 41,209 shares of the stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $191.05, for a total value of $7,872,979.45. Following the sale, the chief operating officer owned 29,592 shares in the company, valued at $5,653,551.60. The trade was a 58.20% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 42,181 shares of company stock worth $8,046,071. Company insiders own 0.08% of the company’s stock.

Analysts Set New Price Targets

AMT has been the subject of several recent analyst reports. BMO Capital Markets upped their price target on American Tower from $185.00 to $200.00 and gave the stock a “market perform” rating in a research note on Wednesday, February 25th. Citizens Jmp restated a “market outperform” rating and issued a $260.00 price target on shares of American Tower in a research note on Wednesday, April 29th. Weiss Ratings upgraded American Tower from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday. Morgan Stanley lowered their target price on American Tower from $225.00 to $220.00 and set an “overweight” rating for the company in a research report on Wednesday, February 25th. Finally, TD Cowen lowered their target price on American Tower from $235.00 to $225.00 in a research report on Wednesday, February 25th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat, American Tower has an average rating of “Moderate Buy” and a consensus price target of $218.05.

American Tower Stock Up 0.1%

NYSE AMT opened at $170.74 on Friday. The company has a debt-to-equity ratio of 3.07, a quick ratio of 0.43 and a current ratio of 0.43. The company has a market capitalization of $79.54 billion, a P/E ratio of 27.58, a P/E/G ratio of 0.71 and a beta of 0.90. American Tower Corporation has a one year low of $165.08 and a one year high of $234.33. The stock has a 50 day moving average price of $177.80 and a 200-day moving average price of $179.11.

American Tower (NYSE:AMT) last posted its earnings results on Tuesday, April 28th. The real estate investment trust reported $2.84 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 the consensus estimate of $2.66 billion. American Tower had a return on equity of 27.79% and a net margin of 26.81%.The company’s quarterly revenue was up 6.8% compared to the same quarter last year. During the same period in the prior year, the company earned $2.75 EPS. American Tower has set its FY 2026 guidance at 10.900-11.07 EPS. As a group, equities analysts predict that American Tower Corporation will post 10.67 EPS for the current fiscal year.

American Tower Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 28th. Investors of record on Tuesday, April 14th were issued a dividend of $1.79 per share. This represents a $7.16 annualized dividend and a yield of 4.2%. The ex-dividend date was Tuesday, April 14th. This is a boost from American Tower’s previous quarterly dividend of $1.70. American Tower’s payout ratio is currently 115.67%.

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.