15,626 Shares in American Tower Corporation $AMT Acquired by Spartan Wealth Advisory Services LLC

Key Points

• Spartan Wealth Advisory Services disclosed a new first-quarter stake in American Tower, buying 15,626 shares valued at about $2.7 million.
• Institutional ownership in American Tower remains very high at 92.69%, and several large funds recently increased or adjusted their positions in the REIT.
• Analysts remain generally bullish: American Tower has an average “Moderate Buy” rating with a consensus price target of $215.57, while the stock recently traded around $170.13 and pays a quarterly dividend of $1.79 per share.

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

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. J. Stern & Co. LLP boosted its holdings in shares of American Tower by 28,121.1% during the 4th 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 acquiring an additional 37,553,436 shares in the last quarter. State Street Corp increased its holdings in American Tower by 0.3% in 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 in the last quarter. Geode Capital Management LLC increased its holdings in American Tower by 1.7% in 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 in the last quarter. Northwestern Mutual Wealth Management Co. raised its position in American Tower by 20,721.6% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 9,712,672 shares of the real estate investment trust's stock valued at $1,705,254,000 after purchasing an additional 9,666,025 shares during the last quarter. Finally, Invesco Ltd. boosted its stake in shares of American Tower by 0.9% during the fourth quarter. Invesco Ltd. now owns 6,948,190 shares of the real estate investment trust's stock valued at $1,219,894,000 after purchasing an additional 59,557 shares in the last quarter. Institutional investors own 92.69% of the company's stock.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Sanford C. Bernstein upgraded American Tower from a "market perform" rating to an "outperform" rating and set a $207.00 price target on the stock in a report on Tuesday, May 19th. Truist Financial raised their price objective on shares of American Tower from $205.00 to $208.00 and gave the company a "buy" rating in a report on Thursday, April 30th. Wolfe Research upgraded shares of American Tower from a "peer perform" rating to an "outperform" rating and set a $188.00 target price on the stock in a research report on Wednesday, July 8th. Citizens Jmp reissued a "market outperform" rating and set a $260.00 target price on shares of American Tower in a report on Wednesday, April 29th. Finally, Scotiabank upped their price target on shares of American Tower from $214.00 to $218.00 and gave the company an "outperform" rating in a research report on Wednesday, April 29th. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $215.57.

American Tower Trading Up 0.7%

NYSE AMT 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 business's 50-day moving average price is $177.64 and its two-hundred day moving average price is $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 - Get Free Report) last issued its quarterly earnings data on Tuesday, April 28th. The real estate investment trust reported $2.84 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.60 by $1.24. The company 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%.The firm's revenue was up 6.8% compared to the same quarter last year. During the same period last year, the company earned $2.75 earnings per share. American Tower has set its FY 2026 guidance at 10.900-11.07 EPS. On average, analysts expect that American Tower Corporation will post 10.66 EPS for the current year.

American Tower Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, July 13th. Shareholders of record on Friday, June 12th were issued a dividend of $1.79 per share. The ex-dividend date was Friday, June 12th. This represents a $7.16 annualized dividend and a yield of 4.2%. American Tower's dividend payout ratio (DPR) is presently 115.67%.

Insider Transactions at American Tower

In other news, EVP Ruth T. Dowling sold 556 shares of the business's stock in a transaction that occurred on Tuesday, April 28th. The shares were sold at an average price of $178.48, for a total value of $99,234.88. Following the transaction, the executive vice president owned 29,877 shares in the company, valued at approximately $5,332,446.96. The trade was a 1.83% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.08% of the company's stock.

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.

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