SteelPeak Wealth LLC Invests $235,000 in American Tower Corporation $AMT

SteelPeak Wealth LLC acquired a new stake in American Tower Corporation (NYSE:AMT) during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 1,063 shares of the real estate investment trust’s stock, valued at approximately $235,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Prime Capital Investment Advisors LLC increased its stake in shares of American Tower by 11.8% in the 2nd quarter. Prime Capital Investment Advisors LLC now owns 5,312 shares of the real estate investment trust’s stock worth $1,174,000 after purchasing an additional 562 shares in the last quarter. Iowa State Bank increased its stake in shares of American Tower by 0.7% in the 2nd quarter. Iowa State Bank now owns 15,748 shares of the real estate investment trust’s stock worth $3,481,000 after purchasing an additional 109 shares in the last quarter. Relyea Zuckerberg Hanson LLC increased its stake in shares of American Tower by 6.1% in the 2nd quarter. Relyea Zuckerberg Hanson LLC now owns 1,430 shares of the real estate investment trust’s stock worth $316,000 after purchasing an additional 82 shares in the last quarter. Sendero Wealth Management LLC increased its stake in shares of American Tower by 20.2% in the 2nd quarter. Sendero Wealth Management LLC now owns 1,204 shares of the real estate investment trust’s stock worth $266,000 after purchasing an additional 202 shares in the last quarter. Finally, Valeo Financial Advisors LLC increased its stake in shares of American Tower by 2,866.1% in the 2nd quarter. Valeo Financial Advisors LLC now owns 275,732 shares of the real estate investment trust’s stock worth $60,942,000 after purchasing an additional 266,436 shares in the last quarter. 92.69% of the stock is owned by institutional investors.

American Tower Price Performance

Shares of AMT opened at $185.16 on Friday. The company has a market cap of $86.70 billion, a price-to-earnings ratio of 67.33, a price-to-earnings-growth ratio of 1.15 and a beta of 0.86. American Tower Corporation has a twelve month low of $172.51 and a twelve month high of $234.33. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 3.36. The company has a 50 day moving average of $199.26 and a two-hundred day moving average of $210.97.

American Tower (NYSE:AMT) last posted its quarterly earnings data on Tuesday, July 29th. The real estate investment trust reported $2.60 EPS for the quarter, topping the consensus estimate of $2.59 by $0.01. American Tower had a net margin of 12.60% and a return on equity of 24.85%. The business had revenue of $2.63 billion during the quarter, compared to the consensus estimate of $2.58 billion. During the same period in the previous year, the firm posted $2.79 earnings per share. The business’s revenue for the quarter was down 9.4% compared to the same quarter last year. American Tower has set its FY 2025 guidance at 10.460-10.650 EPS. As a group, analysts predict that American Tower Corporation will post 10.14 earnings per share for the current fiscal year.

American Tower Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, October 20th. Stockholders of record on Tuesday, September 30th will be paid a dividend of $1.70 per share. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.7%. American Tower’s payout ratio is currently 247.27%.

Insider Activity at American Tower

In related news, CEO Juan Font sold 720 shares of the company’s stock in a transaction dated Thursday, July 31st. The shares were sold at an average price of $208.33, for a total transaction of $149,997.60. Following the completion of the sale, the chief executive officer owned 23,425 shares of the company’s stock, valued at approximately $4,880,130.25. This represents a 2.98% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.17% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. UBS Group increased their price target on American Tower from $250.00 to $260.00 and gave the stock a “buy” rating in a research note on Tuesday, July 8th. BMO Capital Markets reiterated an “outperform” rating and issued a $245.00 price target (down previously from $250.00) on shares of American Tower in a research note on Wednesday, July 30th. Weiss Ratings reissued a “hold (c-)” rating on shares of American Tower in a report on Wednesday. HSBC downgraded shares of American Tower from a “buy” rating to a “hold” rating and set a $235.00 price objective for the company. in a report on Wednesday, July 30th. Finally, Barclays increased their price objective on shares of American Tower from $246.00 to $250.00 and gave the company an “overweight” rating in a report on Monday, August 18th. Two research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $242.07.

American Tower Profile

American Tower, one of the largest global REITs, is a leading independent owner, operator and developer of multitenant communications real estate with a portfolio of over 224,000 communications sites and a highly interconnected footprint of U.S. data center facilities.