Clearstead Trust LLC Invests $1.83 Million in American Tower Corporation $AMT

Key Points

• Clearstead Trust LLC acquired 11,171 shares of American Tower during the second quarter, valued at approximately $1.83 million. Institutional investors collectively own 92.69% of the company.
• American Tower reported quarterly earnings of $2.71 per share, exceeding the $1.57 analyst consensus, while revenue rose 4.6% year over year to $2.75 billion.
• The REIT pays a quarterly dividend of $1.79 per share, equivalent to $7.16 annually and a 4.1% yield. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $215.14.

Clearstead Trust LLC acquired a new position in shares of American Tower Corporation (NYSE:AMT - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 11,171 shares of the real estate investment trust's stock, valued at approximately $1,827,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Oakworth Capital Inc. raised its stake in American Tower by 90.7% in the fourth quarter. Oakworth Capital Inc. now owns 143 shares of the real estate investment trust's stock valued at $25,000 after purchasing an additional 68 shares in the last quarter. Richards Merrill & Peterson Inc. acquired a new stake in American Tower during the fourth quarter worth about $25,000. Swiss RE Ltd. bought a new position in American Tower in the 4th quarter valued at about $25,000. Triumph Capital Management bought a new position in American Tower in the 3rd quarter valued at about $29,000. Finally, Acumen Wealth Advisors LLC acquired a new position in shares of American Tower in the 4th quarter valued at approximately $29,000. Institutional investors own 92.69% of the company's stock.

Insider Activity at American Tower

In other news, 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 value of $894,450.00. Following the completion of the transaction, the chief financial officer directly owned 21,428 shares of the company's stock, valued at $3,833,254.92. This represents a 18.92% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Ruth T. Dowling sold 1,106 shares of the stock in a transaction that occurred on Wednesday, July 29th. The shares were sold at an average price of $174.96, for a total value of $193,505.76. Following the sale, the executive vice president directly owned 27,711 shares of the company's stock, valued at $4,848,316.56. The trade was a 3.84% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 6,791 shares of company stock worth $1,204,091. Corporate insiders own 0.08% of the company's stock.

American Tower Stock Performance

Shares of American Tower stock opened at $175.68 on Friday. The company's fifty day moving average is $172.82 and its 200 day moving average is $177.94. American Tower Corporation has a twelve month low of $160.06 and a twelve month high of $214.79. The stock has a market cap of $81.86 billion, a price-to-earnings ratio of 24.17, a P/E/G ratio of 2.79 and a beta of 0.90. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 3.12.

American Tower (NYSE:AMT - Get Free Report) last released its earnings results on Tuesday, July 28th. The real estate investment trust reported $2.71 earnings per share for the quarter, beating analysts' consensus estimates of $1.57 by $1.14. The business had revenue of $2.75 billion during the quarter, compared to the consensus estimate of $2.70 billion. American Tower had a net margin of 31.08% and a return on equity of 32.76%. The company's revenue for the quarter was up 4.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.60 EPS. American Tower has set its FY 2026 guidance at 11.000-11.170 EPS. Sell-side analysts forecast that American Tower Corporation will post 10.78 EPS for the current year.

American Tower Dividend Announcement

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

Analysts Set New Price Targets

Several equities analysts have recently issued reports on AMT shares. Wolfe Research upgraded American Tower from a "peer perform" rating to an "outperform" rating and set a $188.00 price target on the stock in a research note on Wednesday, July 8th. The Goldman Sachs Group set a $210.00 price objective on American Tower in a research report on Tuesday, July 28th. Weiss Ratings raised American Tower from a "hold (c-)" rating to a "hold (c)" rating in a research note on Tuesday, July 14th. Jefferies Financial Group decreased their target price on American Tower from $210.00 to $201.00 and set a "buy" rating on the stock in a research report on Wednesday, July 15th. Finally, Truist Financial reissued a "buy" rating and set a $207.00 target price (down from $208.00) on shares of American Tower in a research note on Wednesday. One research 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, the stock has an average rating of "Moderate Buy" and a consensus price target of $215.14.

About American Tower

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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