73,066 Shares in American Tower Corporation $AMT Bought by Wealthfront Advisers LLC

Wealthfront Advisers LLC bought a new stake in shares of American Tower Corporation (NYSE:AMT) in the second quarter, HoldingsChannel reports. The institutional investor bought 73,066 shares of the real estate investment trust’s stock, valued at approximately $11,951,000.

Several other institutional investors and hedge funds also recently bought and sold shares of AMT. BlackRock Inc. bought a new stake in American Tower during the second quarter valued at about $7,490,943,000. J. Stern & Co. LLP raised its stake in shares of American Tower by 28,121.1% in the fourth 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 buying an additional 37,553,436 shares during the period. Northwestern Mutual Wealth Management Co. lifted its position in shares of American Tower by 20,721.6% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 9,712,672 shares of the real estate investment trust’s stock valued at $1,705,254,000 after buying an additional 9,666,025 shares in the last quarter. Deutsche Bank AG purchased a new position in shares of American Tower during the 2nd quarter valued at about $1,096,186,000. Finally, Norges Bank bought a new position in shares of American Tower during the 4th quarter valued at approximately $1,171,180,000. 92.69% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

AMT has been the topic of a number of recent analyst reports. Truist Financial restated a “buy” rating and set a $207.00 target price (down from $208.00) on shares of American Tower in a research note on Wednesday, August 12th. Weiss Ratings upgraded shares of American Tower from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, July 14th. The Goldman Sachs Group set a $210.00 price objective on shares of American Tower in a research note on Tuesday, July 28th. Raymond James Financial restated a “strong-buy” rating and set a $240.00 price objective on shares of American Tower in a research report on Wednesday, April 29th. Finally, JPMorgan Chase & Co. lowered their target price on shares of American Tower from $245.00 to $240.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 29th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $215.14.

Insiders Place Their Bets

In related news, EVP Ruth T. Dowling sold 1,106 shares of the stock in a transaction dated Wednesday, July 29th. The shares were sold at an average price of $174.96, for a total value of $193,505.76. Following the completion of the transaction, the executive vice president owned 27,711 shares of the company’s stock, valued at approximately $4,848,316.56. This trade represents a 3.84% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Robert Joseph Meyer sold 5,000 shares of American Tower stock in a transaction dated Wednesday, July 29th. The stock was 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 of the company’s stock, valued at approximately $3,833,254.92. This represents a 18.92% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 6,791 shares of company stock valued at $1,204,091 over the last three months. Corporate insiders own 0.08% of the company’s stock.

American Tower Stock Performance

NYSE:AMT opened at $172.45 on Wednesday. The company has a market cap of $80.35 billion, a price-to-earnings ratio of 23.72, a PEG ratio of 2.79 and a beta of 0.90. American Tower Corporation has a 1 year low of $160.06 and a 1 year high of $214.79. The stock’s 50 day simple moving average is $172.11 and its two-hundred day simple moving average is $177.84. The company has a debt-to-equity ratio of 3.12, a current ratio of 0.52 and a quick ratio of 0.52.

American Tower (NYSE:AMT) last posted its earnings results on Tuesday, July 28th. The real estate investment trust reported $2.71 EPS for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $2.70 billion. During the same period in the prior year, the company earned $2.60 EPS. The company’s quarterly revenue was up 4.6% compared to the same quarter last year. American Tower has set its FY 2026 guidance at 11.000-11.170 EPS. As a group, equities analysts anticipate that American Tower Corporation will post 10.78 earnings per share for the current fiscal year.

American Tower Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 13th. Shareholders of record on Friday, June 12th were given a dividend of $1.79 per share. The ex-dividend date was Friday, June 12th. This represents a $7.16 annualized dividend and a yield of 4.2%. American Tower’s dividend payout ratio (DPR) is 98.49%.

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.