American Tower Corporation $AMT Shares Bought by Prestige Wealth Management Group LLC

Prestige Wealth Management Group LLC grew its position in American Tower Corporation (NYSE:AMT) by 5,582.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,967 shares of the real estate investment trust’s stock after acquiring an additional 5,862 shares during the period. Prestige Wealth Management Group LLC’s holdings in American Tower were worth $1,030,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. J. Stern & Co. LLP lifted its position in 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 valued at $6,616,703,000 after purchasing an additional 37,553,436 shares during the period. State Street Corp increased its position in American Tower by 0.3% during the 4th quarter. State Street Corp now owns 20,987,534 shares of the real estate investment trust’s stock worth $3,719,634,000 after purchasing an additional 71,605 shares during the period. Geode Capital Management LLC increased its position in American Tower by 1.7% during the 4th quarter. Geode Capital Management LLC now owns 13,499,035 shares of the real estate investment trust’s stock worth $2,361,675,000 after purchasing an additional 227,361 shares during the period. Northwestern Mutual Wealth Management Co. raised its stake 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 buying an additional 9,666,025 shares in the last quarter. Finally, Invesco Ltd. raised its stake in shares of American Tower by 0.9% during the 4th quarter. Invesco Ltd. now owns 6,948,190 shares of the real estate investment trust’s stock worth $1,219,894,000 after buying an additional 59,557 shares in the last quarter. 92.69% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the company. JPMorgan Chase & Co. decreased their price target on American Tower from $245.00 to $240.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 29th. Royal Bank Of Canada upgraded American Tower from a “sector perform” rating to an “outperform” rating and increased their price objective for the stock from $195.00 to $205.00 in a research report on Friday, June 26th. Barclays reduced their target price on American Tower from $200.00 to $195.00 and set an “equal weight” rating for the company in a report on Thursday, April 16th. Citizens Jmp restated a “market outperform” rating and set a $260.00 target price on shares of American Tower in a research report on Wednesday, April 29th. Finally, Raymond James Financial reaffirmed a “strong-buy” rating and set a $240.00 price target on shares of American Tower in a research note 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 given a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $215.57.

Insider Buying and Selling at American Tower

In other news, EVP Ruth T. Dowling sold 556 shares of the firm’s stock in a transaction on Tuesday, April 28th. The stock was sold at an average price of $178.48, for a total value of $99,234.88. Following the completion of the transaction, the executive vice president owned 29,877 shares in the company, valued at $5,332,446.96. This trade represents a 1.83% decrease in their ownership of the stock. The sale was disclosed in a filing 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 currently owned by corporate insiders.

American Tower Price Performance

Shares of NYSE:AMT opened at $166.24 on Thursday. The firm has a market capitalization of $77.45 billion, a price-to-earnings ratio of 26.86, a price-to-earnings-growth ratio of 0.68 and a beta of 0.91. The company has a debt-to-equity ratio of 3.07, a current ratio of 0.43 and a quick ratio of 0.43. The business’s 50 day simple moving average is $176.97 and its 200-day simple moving average is $178.50. 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, beating the consensus estimate of $1.60 by $1.24. The firm had revenue of $2.74 billion during the quarter, compared to the consensus estimate of $2.66 billion. American Tower had a return on equity of 27.79% and a net margin of 26.81%.American Tower’s quarterly revenue was up 6.8% on a year-over-year basis. During the same period last year, the business posted $2.75 EPS. American Tower has set its FY 2026 guidance at 10.900-11.07 EPS. As a group, equities analysts forecast that American Tower Corporation will post 10.66 earnings per share for the current fiscal year.

American Tower Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, July 13th. Shareholders of record on Friday, June 12th were issued a $1.79 dividend. The ex-dividend date of this dividend was Friday, June 12th. This represents a $7.16 annualized dividend and a yield of 4.3%. American Tower’s dividend payout ratio is 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.