Destination Wealth Management Has $17.22 Million Stock Position in American Tower Corporation $AMT

Destination Wealth Management decreased its stake in shares of American Tower Corporation (NYSE:AMT) by 7.9% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 98,065 shares of the real estate investment trust’s stock after selling 8,438 shares during the quarter. Destination Wealth Management’s holdings in American Tower were worth $17,217,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in AMT. Northwestern Mutual Wealth Management Co. increased 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 worth $1,705,254,000 after purchasing an additional 9,666,025 shares during the last quarter. Norges Bank acquired a new position in shares of American Tower during the 4th quarter worth approximately $1,171,180,000. Lazard Asset Management LLC increased its position in shares of American Tower by 1,984.8% during 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 last quarter. Capital International Investors increased its position in shares of American Tower by 157.0% during 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 purchasing an additional 2,364,898 shares during the last quarter. Finally, Viking Global Investors LP increased its position in shares of American Tower by 233.5% during 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 last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

Wall Street Analyst Weigh In

AMT has been the topic of several recent analyst reports. Weiss Ratings raised American Tower from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, May 11th. Barclays lowered their price target on American Tower from $200.00 to $195.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 16th. Scotiabank lifted their target price on American Tower from $214.00 to $218.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 29th. BMO Capital Markets lifted their target price 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. Finally, Jefferies Financial Group lifted their target price on American Tower from $209.00 to $210.00 and gave the stock a “buy” rating in a research note on Tuesday, April 14th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, American Tower presently has a consensus rating of “Moderate Buy” and an average price target of $216.20.

Insider Transactions at American Tower

In related news, EVP Ruth T. Dowling sold 416 shares of the business’s stock in a transaction on Wednesday, April 29th. The stock was 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 directly owned 29,461 shares in the company, valued at $5,230,505.94. The trade was a 1.39% decrease in their position. The transaction was disclosed in a document filed with the SEC, 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 owned by company insiders.

American Tower Stock Performance

Shares of NYSE AMT opened at $187.20 on Friday. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 3.07. American Tower Corporation has a 12 month low of $165.08 and a 12 month high of $234.33. The stock has a 50 day moving average of $181.01 and a 200-day moving average of $179.92. The company has a market capitalization of $87.22 billion, a P/E ratio of 30.24, a P/E/G ratio of 0.78 and a beta of 0.90.

American Tower (NYSE:AMT) last issued its 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. American Tower had a return on equity of 27.79% and a net margin of 26.81%.The company had revenue of $2.74 billion during the quarter, compared to the consensus estimate of $2.66 billion. During the same period in the previous year, the company posted $2.75 EPS. The firm’s revenue for the quarter was up 6.8% compared to the same quarter last year. American Tower has set its FY 2026 guidance at 10.900-11.07 EPS. As a group, equities research analysts predict that American Tower Corporation will post 10.67 EPS for the current year.

American Tower Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 13th. Investors of record on Friday, June 12th will be paid a $1.79 dividend. The ex-dividend date is Friday, June 12th. This represents a $7.16 annualized dividend and a yield of 3.8%. American Tower’s payout ratio is 115.67%.

American Tower Company Profile

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.