Elevation Point Wealth Partners LLC Has $880,000 Stock Position in American Tower Corporation $AMT

Elevation Point Wealth Partners LLC lifted its stake in American Tower Corporation (NYSE:AMT) by 1,448.8% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,538 shares of the real estate investment trust’s stock after purchasing an additional 4,245 shares during the period. Elevation Point Wealth Partners LLC’s holdings in American Tower were worth $880,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in AMT. Vanguard Group Inc. boosted its stake in American Tower by 1.0% during the 3rd quarter. Vanguard Group Inc. now owns 63,640,168 shares of the real estate investment trust’s stock worth $12,239,277,000 after acquiring an additional 611,801 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in shares of American Tower by 24.3% in the 2nd quarter. JPMorgan Chase & Co. now owns 12,666,082 shares of the real estate investment trust’s stock valued at $2,799,458,000 after buying an additional 2,474,328 shares during the period. Invesco Ltd. increased its position in shares of American Tower by 3.1% in the 3rd quarter. Invesco Ltd. now owns 6,888,633 shares of the real estate investment trust’s stock valued at $1,324,822,000 after buying an additional 208,109 shares in the last quarter. Norges Bank acquired a new stake in American Tower during the 2nd quarter worth $1,371,875,000. Finally, Charles Schwab Investment Management Inc. lifted its holdings in American Tower by 3.9% during the second quarter. Charles Schwab Investment Management Inc. now owns 5,563,565 shares of the real estate investment trust’s stock worth $1,229,659,000 after acquiring an additional 208,213 shares in the last quarter. Institutional investors own 92.69% of the company’s stock.

Insider Buying and Selling

In related news, Director Rajesh Kalathur purchased 2,671 shares of the firm’s stock in a transaction 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 purchase, the director directly owned 4,936 shares in the company, valued at $914,640.80. This trade represents a 117.92% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Eugene M. Noel sold 41,209 shares of the company’s stock in a transaction that occurred on Monday, March 2nd. The stock was 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 approximately $5,653,551.60. This represents a 58.20% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.18% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on AMT shares. Sanford C. Bernstein started coverage on American Tower in a research report on Thursday, March 5th. They set a “market perform” rating and a $205.00 price target on the stock. Royal Bank Of Canada dropped their target price on shares of American Tower from $220.00 to $195.00 and set a “sector perform” rating on the stock in a report on Monday, January 12th. Scotiabank lowered their price objective on shares of American Tower from $220.00 to $214.00 and set a “sector outperform” rating for the company in a research report on Wednesday, February 25th. TD Cowen dropped their price objective on shares of American Tower from $235.00 to $225.00 in a report on Wednesday, February 25th. Finally, Barclays reaffirmed an “equal weight” rating and issued a $200.00 target price (down from $203.00) on shares of American Tower in a research note on Monday, December 1st. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $217.35.

American Tower Stock Performance

Shares of AMT opened at $184.54 on Tuesday. The stock has a market capitalization of $86.01 billion, a price-to-earnings ratio of 34.24, a PEG ratio of 0.77 and a beta of 0.92. American Tower Corporation has a 12 month low of $166.88 and a 12 month high of $234.33. The firm has a fifty day simple moving average of $181.59 and a 200 day simple moving average of $183.82. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 3.27.

American Tower (NYSE:AMT) last issued its quarterly earnings results on Tuesday, February 24th. The real estate investment trust reported $1.75 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.54 by ($0.79). American Tower had a net margin of 23.76% and a return on equity of 24.36%. The business had revenue of $2.74 billion during the quarter, compared to analyst estimates of $2.69 billion. The firm’s quarterly revenue was up 7.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.62 earnings per share. American Tower has set its FY 2026 guidance at 10.780-10.950 EPS. Research analysts forecast that American Tower Corporation will post 10.14 EPS for the current fiscal year.

American Tower Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 28th. Investors of record on Tuesday, April 14th will be given a dividend of $1.79 per share. This represents a $7.16 annualized dividend and a yield of 3.9%. This is a boost from American Tower’s previous quarterly dividend of $1.70. The ex-dividend date of this dividend is Tuesday, April 14th. American Tower’s payout ratio is currently 126.16%.

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.