Wealthfront Advisers LLC Has $18.81 Million Stock Holdings in American Tower Corporation $AMT

Key Points

• Wealthfront Advisers LLC increased its stake in American Tower by 11.3% in the first quarter, bringing its holdings to 109,012 shares worth about $18.81 million.
• Other institutional investors also adjusted positions, and hedge funds and institutions now own 92.69% of American Tower’s stock, underscoring strong professional ownership.
• American Tower reported better-than-expected quarterly results, with EPS of $2.84 versus the $1.60 estimate, and it also pays a quarterly dividend of $1.79 per share, equal to a 4.2% annualized yield.

Wealthfront Advisers LLC lifted its position in shares of American Tower Corporation (NYSE:AMT - Free Report) by 11.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 109,012 shares of the real estate investment trust's stock after purchasing an additional 11,051 shares during the period. Wealthfront Advisers LLC's holdings in American Tower were worth $18,813,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. D.A. Davidson & CO. increased its position in American Tower by 15.4% in the 1st quarter. D.A. Davidson & CO. now owns 16,373 shares of the real estate investment trust's stock valued at $2,826,000 after acquiring an additional 2,187 shares during the period. Navigation Group LLC acquired a new position in shares of American Tower during the first quarter worth $616,000. Bank of New York Mellon Corp lifted its holdings in shares of American Tower by 2.1% during the first quarter. Bank of New York Mellon Corp now owns 2,773,447 shares of the real estate investment trust's stock worth $478,642,000 after purchasing an additional 57,595 shares during the period. Harel Insurance Investments & Financial Services Ltd. grew its stake in shares of American Tower by 375.3% in the first quarter. Harel Insurance Investments & Financial Services Ltd. now owns 2,429 shares of the real estate investment trust's stock worth $419,000 after purchasing an additional 1,918 shares during the last quarter. Finally, Advisors Preferred LLC acquired a new stake in American Tower in the first quarter valued at $4,355,000. Institutional investors and hedge funds own 92.69% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. JPMorgan Chase & Co. lowered their target price on American Tower from $245.00 to $240.00 and set an "overweight" rating for the company in a research report on Wednesday, April 29th. Barclays decreased their price target on 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 upgraded American Tower from a "market perform" rating to an "outperform" rating and set a $207.00 price objective for the company in a research report on Tuesday, May 19th. Royal Bank Of Canada raised American Tower from a "sector perform" rating to an "outperform" rating and lifted their price objective for the stock from $195.00 to $205.00 in a research note on Friday, June 26th. Finally, Raymond James Financial reiterated a "strong-buy" rating and issued a $240.00 target price 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 assigned a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $215.57.

Insider Activity at American Tower

In other news, EVP Ruth T. Dowling sold 416 shares of the firm's stock in a transaction that occurred on Wednesday, April 29th. The shares were sold at an average price of $177.54, for a total transaction of $73,856.64. Following the completion of the sale, the executive vice president owned 29,461 shares of the company's stock, valued at $5,230,505.94. This trade represents a 1.39% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.08% of the stock is currently owned by company insiders.

American Tower Stock Up 0.1%

Shares of NYSE:AMT opened at $168.87 on Friday. American Tower Corporation has a 1 year low of $160.06 and a 1 year high of $234.33. The company has a debt-to-equity ratio of 3.07, a current ratio of 0.43 and a quick ratio of 0.43. The business's 50-day moving average is $177.77 and its 200-day moving average is $178.76. The company has a market capitalization of $78.68 billion, a price-to-earnings ratio of 27.28, a P/E/G ratio of 0.70 and a beta of 0.91.

American Tower (NYSE:AMT - Get Free Report) last released its earnings results on Tuesday, April 28th. The real estate investment trust reported $2.84 EPS for the quarter, topping the consensus estimate of $1.60 by $1.24. The business had revenue of $2.74 billion during the quarter, compared to analysts' expectations of $2.66 billion. American Tower had a return on equity of 27.79% and a net margin of 26.81%.The firm's revenue was up 6.8% on a year-over-year basis. During the same quarter last year, the firm posted $2.75 earnings per share. American Tower has set its FY 2026 guidance at 10.900-11.07 EPS. Equities research analysts predict that American Tower Corporation will post 10.66 earnings per share for the current year.

American Tower Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, July 13th. Shareholders of record on Friday, June 12th were issued a dividend of $1.79 per share. This represents a $7.16 dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date was Friday, June 12th. American Tower's dividend payout ratio is presently 115.67%.

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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