7,018 Shares in American Tower Corporation $AMT Acquired by Focus Partners Advisor Solutions LLC

Key Points

• Focus Partners Advisor Solutions acquired 7,018 shares of American Tower worth approximately $1.15 million, while institutional investors collectively own 92.69% of the REIT.
• Analysts maintain a bullish outlook, with the stock receiving a consensus “Moderate Buy” rating and an average price target of $215.14 versus its $175.68 opening price.
• American Tower exceeded quarterly earnings expectations, reporting $2.71 in EPS and $2.75 billion in revenue, while paying a quarterly dividend of $1.79, equal to a 4.1% annualized yield.

Focus Partners Advisor Solutions LLC acquired a new position in shares of American Tower Corporation (NYSE:AMT - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 7,018 shares of the real estate investment trust's stock, valued at approximately $1,148,000.

A number of other hedge funds also recently modified their holdings of AMT. Richards Merrill & Peterson Inc. acquired a new position in American Tower during the fourth quarter valued at $25,000. Oakworth Capital Inc. boosted its position in American Tower by 90.7% during the 4th quarter. Oakworth Capital Inc. now owns 143 shares of the real estate investment trust's stock worth $25,000 after acquiring an additional 68 shares during the period. Swiss RE Ltd. purchased a new position in American Tower during the 4th quarter valued at about $25,000. Allied Private Wealth LLC acquired a new position in shares of American Tower in the 2nd quarter valued at about $29,000. Finally, Triumph Capital Management acquired a new position in shares of American Tower in the 3rd quarter valued at about $29,000. Hedge funds and other institutional investors own 92.69% of the company's stock.

Insiders Place Their Bets

In related news, CFO Robert Joseph Meyer sold 5,000 shares of American Tower stock in a transaction on Wednesday, July 29th. The shares were sold at an average price of $178.89, for a total value of $894,450.00. Following the transaction, the chief financial officer owned 21,428 shares in the company, valued at $3,833,254.92. This trade represents a 18.92% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Ruth T. Dowling sold 1,106 shares of the business's stock in a transaction on Wednesday, July 29th. The stock was sold at an average price of $174.96, for a total transaction of $193,505.76. Following the transaction, the executive vice president directly owned 27,711 shares of the company's stock, valued at approximately $4,848,316.56. This represents a 3.84% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 6,791 shares of company stock worth $1,204,091 over the last quarter. 0.08% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts recently commented on AMT shares. JPMorgan Chase & Co. decreased their price target on shares of American Tower from $245.00 to $240.00 and set an "overweight" rating for the company in a report on Wednesday, April 29th. Wolfe Research upgraded American Tower from a "peer perform" rating to an "outperform" rating and set a $188.00 price objective for the company in a report on Wednesday, July 8th. Scotiabank restated an "outperform" rating on shares of American Tower in a research note on Wednesday, July 29th. Truist Financial reiterated a "buy" rating and set a $207.00 price target (down from $208.00) on shares of American Tower in a report on Wednesday, August 12th. Finally, Raymond James Financial restated a "strong-buy" rating and issued a $240.00 price objective on shares of American Tower in a report on Wednesday, April 29th. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $215.14.

American Tower Price Performance

Shares of NYSE:AMT opened at $175.68 on Monday. The stock has a market capitalization of $81.86 billion, a P/E ratio of 24.17, a P/E/G ratio of 2.79 and a beta of 0.90. The business has a 50-day moving average of $172.82 and a two-hundred day moving average of $177.93. American Tower Corporation has a fifty-two week low of $160.06 and a fifty-two week high of $214.79. The company has a debt-to-equity ratio of 3.12, a current ratio of 0.52 and a quick ratio of 0.52.

American Tower (NYSE:AMT - Get Free Report) last issued its quarterly earnings data on Tuesday, July 28th. The real estate investment trust reported $2.71 EPS for the quarter, beating analysts' consensus estimates of $1.57 by $1.14. American Tower had a return on equity of 32.76% and a net margin of 31.08%.The business had revenue of $2.75 billion for the quarter, compared to analyst estimates of $2.70 billion. During the same quarter in the prior year, the firm posted $2.60 EPS. The firm's revenue for the quarter was up 4.6% on a year-over-year basis. American Tower has set its FY 2026 guidance at 11.000-11.170 EPS. On average, equities research analysts predict that American Tower Corporation will post 10.78 EPS for the current fiscal year.

American Tower Dividend Announcement

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

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.

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