Wick Capital Partners LLC Purchases Shares of 132,797 American Tower Corporation $AMT

Wick Capital Partners LLC purchased a new position in American Tower Corporation (NYSE:AMT) in the fourth quarter, HoldingsChannel reports. The institutional investor purchased 132,797 shares of the real estate investment trust’s stock, valued at approximately $221,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. J. Stern & Co. LLP lifted its position in American Tower by 28,121.1% during the 4th quarter. J. Stern & Co. LLP now owns 37,686,978 shares of the real estate investment trust’s stock worth $6,616,703,000 after acquiring an additional 37,553,436 shares during the period. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of American Tower by 20,721.6% during the fourth 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. Norges Bank purchased a new stake in American Tower in the fourth quarter valued at approximately $1,171,180,000. Lazard Asset Management LLC boosted its position in American Tower by 1,984.8% in the third quarter. Lazard Asset Management LLC now owns 4,464,382 shares of the real estate investment trust’s stock valued at $858,552,000 after buying an additional 4,250,242 shares during the last quarter. Finally, Capital International Investors increased its holdings in American Tower by 157.0% in the 4th quarter. Capital International Investors now owns 3,871,368 shares of the real estate investment trust’s stock worth $679,696,000 after buying an additional 2,364,898 shares during the period. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Insider Buying and Selling

In related news, EVP Ruth T. Dowling sold 416 shares of the company’s stock in a transaction on 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 in the company, valued at $5,230,505.94. This represents a 1.39% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.08% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. Raymond James Financial reissued a “strong-buy” rating and set a $240.00 price target on shares of American Tower in a research report on Wednesday, April 29th. TD Cowen dropped their price objective on American Tower from $235.00 to $225.00 in a report on Wednesday, February 25th. Scotiabank increased their target price on American Tower from $214.00 to $218.00 and gave the company an “outperform” rating in a report on Wednesday, April 29th. Mizuho upgraded shares of American Tower from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $189.00 to $205.00 in a report on Wednesday, April 15th. Finally, Citizens Jmp reaffirmed a “market outperform” rating and set a $260.00 price target on shares of American Tower in a research report on Wednesday, April 29th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $216.20.

American Tower Stock Down 0.2%

Shares of NYSE:AMT opened at $175.66 on Friday. The firm has a 50 day simple moving average of $181.59 and a 200-day simple moving average of $179.91. American Tower Corporation has a twelve month low of $165.08 and a twelve 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 company has a market capitalization of $81.84 billion, a PE ratio of 28.38, a P/E/G ratio of 0.74 and a beta of 0.90.

American Tower (NYSE:AMT) last announced its quarterly earnings results on Tuesday, April 28th. The real estate investment trust reported $2.84 EPS for the quarter, topping the consensus estimate of $1.60 by $1.24. The firm had revenue of $2.74 billion for 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%. American Tower’s revenue for the quarter was up 6.8% compared to the same quarter last year. During the same period last year, the business earned $2.75 EPS. American Tower has set its FY 2026 guidance at 10.900-11.07 EPS. On average, equities analysts predict that American Tower Corporation will post 10.66 EPS for the current fiscal year.

American Tower Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 13th. Stockholders 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 4.1%. The ex-dividend date of this dividend is Friday, June 12th. American Tower’s dividend payout ratio is presently 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.