Spartan Wealth Advisory Services LLC Takes $2.70 Million Position in American Tower Corporation $AMT

Spartan Wealth Advisory Services LLC bought a new stake in shares of American Tower Corporation (NYSE:AMT) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 15,626 shares of the real estate investment trust’s stock, valued at approximately $2,697,000.

Several other large investors have also added to or reduced their stakes in the business. Brighton Jones LLC increased its stake in shares of American Tower by 113.0% in the 4th quarter. Brighton Jones LLC now owns 3,966 shares of the real estate investment trust’s stock valued at $727,000 after acquiring an additional 2,104 shares in the last quarter. Sivia Capital Partners LLC lifted its position in shares of American Tower by 34.3% during the 2nd quarter. Sivia Capital Partners LLC now owns 1,442 shares of the real estate investment trust’s stock valued at $319,000 after acquiring an additional 368 shares during the period. United Bank boosted its stake in American Tower by 12.7% during the second quarter. United Bank now owns 6,488 shares of the real estate investment trust’s stock worth $1,434,000 after acquiring an additional 733 shares in the last quarter. Treasurer of the State of North Carolina boosted its stake in American Tower by 2.2% during the second quarter. Treasurer of the State of North Carolina now owns 218,511 shares of the real estate investment trust’s stock worth $48,295,000 after acquiring an additional 4,778 shares in the last quarter. Finally, Ieq Capital LLC grew its holdings in American Tower by 52.2% in the second quarter. Ieq Capital LLC now owns 34,248 shares of the real estate investment trust’s stock worth $7,570,000 after purchasing an additional 11,751 shares during the period. Institutional investors and hedge funds own 92.69% of the company’s stock.

Analyst Upgrades and Downgrades

AMT has been the topic of several research reports. Sanford C. Bernstein upgraded shares of American Tower from a “market perform” rating to an “outperform” rating and set a $207.00 price objective on the stock in a report on Tuesday, May 19th. Weiss Ratings upgraded American Tower from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday. JPMorgan Chase & Co. decreased their target price on American Tower from $245.00 to $240.00 and set an “overweight” rating for the company in a research report on Wednesday, April 29th. The Goldman Sachs Group started coverage on American Tower in a research note on Friday, June 26th. They set a “buy” rating and a $215.00 price target on the stock. Finally, Scotiabank increased their price target on American Tower from $214.00 to $218.00 and gave the stock an “outperform” rating in a report on Wednesday, April 29th. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $215.57.

Insider Buying and Selling at American Tower

In related news, EVP Ruth T. Dowling sold 416 shares of the firm’s stock in a transaction dated Wednesday, April 29th. The shares were sold at an average price of $177.54, for a total value of $73,856.64. Following the transaction, the executive vice president owned 29,461 shares of the company’s stock, valued at approximately $5,230,505.94. This trade represents a 1.39% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed 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 corporate insiders.

American Tower Stock Performance

Shares of AMT stock opened at $170.13 on Friday. The firm has a market capitalization of $79.26 billion, a PE ratio of 27.48, a price-to-earnings-growth ratio of 0.71 and a beta of 0.91. The firm has a fifty day simple moving average of $177.64 and a two-hundred day simple moving average of $178.70. 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 $160.06 and a 12 month high of $234.33.

American Tower (NYSE:AMT) last released its quarterly earnings data on Tuesday, April 28th. The real estate investment trust reported $2.84 earnings per share for the quarter, topping the consensus estimate of $1.60 by $1.24. American Tower had a net margin of 26.81% and a return on equity of 27.79%. The firm had revenue of $2.74 billion for the quarter, compared to the consensus estimate of $2.66 billion. During the same quarter in the prior year, the company posted $2.75 earnings per share. The business’s revenue was up 6.8% on a year-over-year basis. American Tower has set its FY 2026 guidance at 10.900-11.07 EPS. Analysts forecast that American Tower Corporation will post 10.66 EPS for the current fiscal year.

American Tower Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, July 13th. Investors of record on Friday, June 12th were issued a $1.79 dividend. This represents a $7.16 dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date was Friday, June 12th. American Tower’s dividend payout ratio is currently 115.67%.

American Tower 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.