Allworth Financial LP Has $11.21 Million Stock Holdings in American Tower Corporation $AMT

Key Points

• Allworth Financial LP boosted its stake in American Tower by 39.7% in the fourth quarter, bringing its holdings to 63,860 shares valued at about $11.21 million.
• Analysts remain broadly positive on AMT, with an average rating of “Moderate Buy” and a consensus price target of $218.05 after several firms adjusted their targets and ratings.
• American Tower reported strong quarterly results, with EPS of $2.84 beating estimates and revenue rising 6.8% year over year, while also raising its quarterly dividend to $1.79 per share.

Allworth Financial LP increased its holdings in shares of American Tower Corporation (NYSE:AMT - Free Report) by 39.7% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 63,860 shares of the real estate investment trust's stock after purchasing an additional 18,143 shares during the period. Allworth Financial LP's holdings in American Tower were worth $11,212,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the business. Personal CFO Solutions LLC raised its holdings in American Tower by 3.5% in the 4th quarter. Personal CFO Solutions LLC now owns 1,667 shares of the real estate investment trust's stock valued at $293,000 after acquiring an additional 57 shares in the last quarter. Pines Wealth Management LLC raised its holdings in American Tower by 4.1% in the 3rd quarter. Pines Wealth Management LLC now owns 1,488 shares of the real estate investment trust's stock valued at $286,000 after acquiring an additional 58 shares in the last quarter. Conscious Wealth Investments LLC raised its holdings in American Tower by 0.5% in the 3rd quarter. Conscious Wealth Investments LLC now owns 11,852 shares of the real estate investment trust's stock valued at $2,121,000 after acquiring an additional 60 shares in the last quarter. Dynamic Wealth Strategies LLC raised its holdings in American Tower by 19.9% in the 3rd quarter. Dynamic Wealth Strategies LLC now owns 367 shares of the real estate investment trust's stock valued at $71,000 after acquiring an additional 61 shares in the last quarter. Finally, SPC Financial Inc. grew its stake in shares of American Tower by 1.5% in the 3rd quarter. SPC Financial Inc. now owns 4,093 shares of the real estate investment trust's stock valued at $787,000 after purchasing an additional 61 shares during the period. Institutional investors and hedge funds own 92.69% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on AMT shares. Mizuho upgraded American Tower from a "neutral" rating to an "outperform" rating and upped their price objective for the company from $189.00 to $205.00 in a research note on Wednesday, April 15th. Scotiabank upped their price objective on American Tower from $214.00 to $218.00 and gave the company an "outperform" rating in a research note on Wednesday, April 29th. Barclays lowered their price objective on American Tower from $200.00 to $195.00 and set an "equal weight" rating on the stock in a research note on Thursday, April 16th. The Goldman Sachs Group lowered their price objective on American Tower from $230.00 to $210.00 and set a "buy" rating on the stock in a research note on Friday, January 16th. Finally, Jefferies Financial Group upped their price objective on American Tower from $209.00 to $210.00 and gave the company a "buy" rating in a research note on Tuesday, April 14th. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $218.05.

Insider Activity

In related news, Director Rajesh Kalathur purchased 2,671 shares of the business's stock in a transaction dated Tuesday, March 10th. The shares were bought at an average price of $185.30 per share, with a total value of $494,936.30. Following the purchase, the director directly owned 4,936 shares in the company, valued at $914,640.80. This trade represents a 117.92% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, EVP Ruth T. Dowling sold 556 shares of the stock in a transaction 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 completion of the transaction, the executive vice president directly owned 29,877 shares in the company, valued at approximately $5,332,446.96. This trade represents a 1.83% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 42,181 shares of company stock valued at $8,046,071 in the last 90 days. 0.08% of the stock is owned by company insiders.

American Tower Stock Down 2.1%

NYSE:AMT opened at $170.28 on Friday. The stock's fifty day moving average price is $178.20 and its two-hundred day moving average price is $179.17. American Tower Corporation has a 52-week low of $165.08 and a 52-week high of $234.33. The company has a debt-to-equity ratio of 3.07, a quick ratio of 0.43 and a current ratio of 0.43. The company has a market cap of $79.33 billion, a price-to-earnings ratio of 27.51, a P/E/G ratio of 0.73 and a beta of 0.90.

American Tower (NYSE:AMT - Get Free Report) last posted its quarterly earnings data on Tuesday, April 28th. The real estate investment trust reported $2.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.60 by $1.24. American Tower had a return on equity of 27.79% and a net margin of 26.81%.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 business earned $2.75 EPS. The business's revenue for the quarter was up 6.8% compared to the same quarter last year. American Tower has set its FY 2026 guidance at 10.900-11.07 EPS. On average, analysts anticipate that American Tower Corporation will post 10.67 EPS for the current year.

American Tower Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 28th. Stockholders of record on Tuesday, April 14th were paid a $1.79 dividend. This is an increase from American Tower's previous quarterly dividend of $1.70. The ex-dividend date of this dividend was Tuesday, April 14th. This represents a $7.16 dividend on an annualized basis and a dividend yield of 4.2%. American Tower's dividend payout ratio (DPR) 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.

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