Assetmark Inc. Has $20.90 Million Position in American Tower Corporation $AMT

Key Points

• Assetmark Inc. increased its stake in American Tower by 36.3% in the first quarter, buying 32,269 additional shares and bringing its total holding to 121,090 shares valued at about $20.9 million.
• American Tower reported strong quarterly earnings on April 28, with EPS of $2.84 beating estimates by a wide margin and revenue of $2.74 billion topping expectations; revenue also rose 6.8% year over year.
• The company paid a quarterly dividend of $1.79, or $7.16 annualized, for a yield of about 4.2%, while analysts remain broadly positive with a consensus rating of Moderate Buy and an average target price of $215.57.

Assetmark Inc. lifted its holdings in American Tower Corporation (NYSE:AMT - Free Report) by 36.3% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 121,090 shares of the real estate investment trust's stock after purchasing an additional 32,269 shares during the quarter. Assetmark Inc.'s holdings in American Tower were worth $20,898,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of AMT. J. Stern & Co. LLP raised its holdings in shares of American Tower by 28,121.1% during the fourth quarter. J. Stern & Co. LLP now owns 37,686,978 shares of the real estate investment trust's stock worth $6,616,703,000 after acquiring an additional 37,553,436 shares during the period. State Street Corp lifted its holdings in shares of American Tower by 0.3% in the fourth quarter. State Street Corp now owns 20,987,534 shares of the real estate investment trust's stock valued at $3,719,634,000 after purchasing an additional 71,605 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of American Tower by 1.7% in the fourth quarter. Geode Capital Management LLC now owns 13,499,035 shares of the real estate investment trust's stock valued at $2,361,675,000 after purchasing an additional 227,361 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its position in shares of American Tower by 20,721.6% during the fourth 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 during the period. Finally, Invesco Ltd. grew its holdings 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 worth $1,219,894,000 after buying an additional 59,557 shares in the last quarter. 92.69% of the stock is owned by institutional investors.

American Tower Price Performance

Shares of AMT opened at $170.13 on Friday. The company has a market cap of $79.26 billion, a price-to-earnings ratio of 27.48, a PEG ratio of 0.71 and a beta of 0.91. American Tower Corporation has a 1-year low of $160.06 and a 1-year high of $234.33. The company's fifty day simple moving average is $177.64 and its 200 day simple moving average 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 (NYSE:AMT - Get Free Report) last announced its quarterly earnings results on Tuesday, April 28th. The real estate investment trust reported $2.84 EPS for the quarter, beating analysts' consensus estimates of $1.60 by $1.24. American Tower had a net margin of 26.81% and a return on equity of 27.79%. The firm had revenue of $2.74 billion during the quarter, compared to analysts' expectations of $2.66 billion. During the same quarter last year, the company posted $2.75 earnings per share. The company'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, research analysts forecast that American Tower Corporation will post 10.66 earnings per share for the current fiscal year.

American Tower Announces Dividend

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

Insider Buying and Selling

In related news, EVP Ruth T. Dowling sold 556 shares of American Tower stock in a transaction dated Tuesday, April 28th. The stock was sold at an average price of $178.48, for a total transaction of $99,234.88. Following the completion of the transaction, the executive vice president owned 29,877 shares in the company, valued at approximately $5,332,446.96. This trade represents a 1.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.08% of the company's stock.

Analyst Upgrades and Downgrades

AMT has been the topic of a number of recent research reports. Wolfe Research raised 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. Scotiabank raised their price target on shares of American Tower from $214.00 to $218.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 29th. Weiss Ratings upgraded shares of American Tower from a "hold (c-)" rating to a "hold (c)" rating in a report on Tuesday. Royal Bank Of Canada upgraded shares of American Tower from a "sector perform" rating to an "outperform" rating and increased their target price for the stock from $195.00 to $205.00 in a report on Friday, June 26th. Finally, Sanford C. Bernstein raised shares of American Tower from a "market perform" rating to an "outperform" rating and set a $207.00 target price for the company in a research report on Tuesday, May 19th. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $215.57.

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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