Western Wealth Management LLC Raises Stock Holdings in American Tower Corporation $AMT

Western Wealth Management LLC raised its position in shares of American Tower Corporation (NYSE:AMT) by 75.2% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,342 shares of the real estate investment trust’s stock after buying an additional 3,152 shares during the period. Western Wealth Management LLC’s holdings in American Tower were worth $1,267,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the company. Richards Merrill & Peterson Inc. bought a new stake in shares of American Tower in the fourth quarter worth about $25,000. Oakworth Capital Inc. grew its position in shares of American Tower by 90.7% in the 4th quarter. Oakworth Capital Inc. now owns 143 shares of the real estate investment trust’s stock worth $25,000 after buying an additional 68 shares during the last quarter. Swiss RE Ltd. bought a new stake in shares of American Tower in the 4th quarter worth approximately $25,000. Triumph Capital Management purchased a new position in shares of American Tower during the third quarter valued at approximately $29,000. Finally, Acumen Wealth Advisors LLC bought a new position in shares of American Tower during the fourth quarter valued at approximately $29,000. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. Jefferies Financial Group cut their price target on shares of American Tower from $210.00 to $201.00 and set a “buy” rating on the stock in a report on Wednesday, July 15th. Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $214.00 target price on shares of American Tower in a research report on Wednesday. Mizuho upgraded shares of American Tower from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $189.00 to $205.00 in a research report on Wednesday, April 15th. Raymond James Financial reaffirmed 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, Barclays decreased their target price on American Tower from $200.00 to $195.00 and set an “equal weight” rating for the company in a research report on Thursday, April 16th. One 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 company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $215.19.

Insiders Place Their Bets

In other American Tower news, EVP Ruth T. Dowling sold 1,106 shares of American Tower 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 directly owned 27,711 shares of the company’s stock, valued at approximately $4,848,316.56. The trade was a 3.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Robert Joseph Meyer sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 29th. The stock was sold at an average price of $178.89, for a total transaction of $894,450.00. Following the completion of the transaction, the chief financial officer owned 21,428 shares in the company, 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. Over the last three months, insiders sold 6,791 shares of company stock worth $1,204,091. Insiders own 0.08% of the company’s stock.

American Tower Price Performance

Shares of AMT opened at $173.82 on Friday. American Tower Corporation has a fifty-two week low of $160.06 and a fifty-two week high of $217.39. The firm’s 50-day simple moving average is $175.87 and its two-hundred day simple moving average is $178.39. The stock has a market cap of $80.98 billion, a PE ratio of 23.91, a price-to-earnings-growth ratio of 2.78 and a beta of 0.91. The company has a debt-to-equity ratio of 3.12, a quick ratio of 0.43 and a current ratio of 0.52.

American Tower Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 13th. Shareholders of record on Friday, June 12th were paid a dividend of $1.79 per share. The ex-dividend date was Friday, June 12th. This represents a $7.16 dividend on an annualized basis and a yield of 4.1%. American Tower’s payout ratio is presently 98.49%.

American Tower News Roundup

Here are the key news stories impacting American Tower this week:

• Positive Sentiment: Analysts raised their valuation expectations for American Tower. One firm lifted its price target to $220, while BMO Capital Markets increased its target to $195, suggesting potential upside from recent trading levels. American Tower Price Target Raised to $220 BMO Raises American Tower Price Target
• Positive Sentiment: American Tower’s latest results were stronger than expected, with revenue up 6.8% year over year to $2.74 billion and EPS of $2.84 versus the $1.60 consensus estimate. Record CoreSite data-center leasing and continued demand from cloud and artificial-intelligence infrastructure provide additional growth support.
• Neutral Sentiment: EVP Ruth Dowling sold 1,791 shares across two transactions for approximately $309,641 under a pre-arranged Rule 10b5-1 plan. Because the sales were scheduled and she retained a sizable stake, the transactions are a limited signal about management’s outlook. SEC Insider Trading Filing
• Negative Sentiment: CFO Robert Joseph Meyer sold 5,000 shares worth approximately $894,450, reducing his ownership by 18.92%. Although the sale does not necessarily indicate deteriorating fundamentals, the larger transaction may weigh on investor sentiment. CFO SEC Insider Trading Filing
• Negative Sentiment: American Tower remains highly leveraged, with a debt-to-equity ratio of 3.12, making it sensitive to higher interest rates. Rising borrowing costs can pressure REIT valuations and reduce the appeal of its approximately 4.1% dividend yield.

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.