VCI Wealth Management LLC Takes $1.32 Million Position in American Tower Corporation $AMT

Key Points

• VCI Wealth Management LLC opened a new position in American Tower during the first quarter, buying 7,647 shares worth about $1.32 million.
• Institutional ownership remains very high, with 92.69% of American Tower stock held by hedge funds and other institutional investors; meanwhile, EVP Ruth T. Dowling sold 416 shares in a pre-arranged insider transaction.
• American Tower reported strong quarterly results, with EPS of $2.84 beating estimates and revenue of $2.74 billion topping forecasts, while analysts currently rate the stock a Moderate Buy with a consensus target price of $216.95.

VCI Wealth Management LLC bought a new stake in shares of American Tower Corporation (NYSE:AMT - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 7,647 shares of the real estate investment trust's stock, valued at approximately $1,320,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. CIBC Bancorp USA Inc. bought a new position in American Tower during the third quarter valued at about $35,633,000. Nordea Investment Management AB raised its position in American Tower by 10.4% in the fourth quarter. Nordea Investment Management AB now owns 1,743,321 shares of the real estate investment trust's stock worth $306,284,000 after acquiring an additional 164,645 shares during the period. Legal & General Group Plc boosted its stake in American Tower by 4.7% in the fourth quarter. Legal & General Group Plc now owns 4,873,695 shares of the real estate investment trust's stock valued at $855,675,000 after acquiring an additional 220,447 shares during the last quarter. Rathbones Group PLC boosted its stake in American Tower by 14.9% in the fourth quarter. Rathbones Group PLC now owns 474,216 shares of the real estate investment trust's stock valued at $83,258,000 after acquiring an additional 61,428 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its position in shares of American Tower by 5.4% during the 3rd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 939,247 shares of the real estate investment trust's stock valued at $180,636,000 after acquiring an additional 47,966 shares during the period. 92.69% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other American Tower news, EVP Ruth T. Dowling sold 416 shares of the business's stock in a transaction dated Wednesday, April 29th. The shares were sold at an average price of $177.54, for a total value of $73,856.64. Following the transaction, the executive vice president owned 29,461 shares in the company, valued at approximately $5,230,505.94. The trade was a 1.39% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.08% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on AMT. Barclays decreased their price target on shares of American Tower from $200.00 to $195.00 and set an "equal weight" rating for the company in a research note on Thursday, April 16th. Sanford C. Bernstein raised American Tower from a "market perform" rating to an "outperform" rating and set a $207.00 price objective for the company in a report on Tuesday, May 19th. Raymond James Financial reissued a "strong-buy" rating and issued a $240.00 target price on shares of American Tower in a research report on Wednesday, April 29th. JPMorgan Chase & Co. lowered their target price on American Tower from $245.00 to $240.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 29th. Finally, Jefferies Financial Group upped their price target on American Tower from $209.00 to $210.00 and gave the company a "buy" rating in a research report on Tuesday, April 14th. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $216.95.

American Tower Trading Up 4.0%

Shares of AMT stock opened at $175.41 on Friday. The company has a debt-to-equity ratio of 3.07, a quick ratio of 0.43 and a current ratio of 0.43. American Tower Corporation has a 52-week low of $165.08 and a 52-week high of $234.33. The company has a market capitalization of $81.72 billion, a PE ratio of 28.34, a price-to-earnings-growth ratio of 0.70 and a beta of 0.90. The business's fifty day moving average is $181.20 and its 200 day moving average is $179.83.

American Tower (NYSE:AMT - Get Free Report) last released its quarterly earnings results on Tuesday, April 28th. The real estate investment trust reported $2.84 earnings per share for the quarter, beating analysts' consensus estimates of $1.60 by $1.24. The business had revenue of $2.74 billion for 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 company's revenue for the quarter was up 6.8% on a year-over-year basis. During the same quarter last year, the business posted $2.75 earnings per share. American Tower has set its FY 2026 guidance at 10.900-11.07 EPS. On average, equities research analysts anticipate that American Tower Corporation will post 10.66 EPS for the current fiscal year.

American Tower Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, July 13th. Investors of record on Friday, June 12th will be issued 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 is Friday, June 12th. American Tower's dividend payout ratio 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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