Wealthfront Advisers LLC Makes New Investment in American Tower Corporation $AMT

Key Points

• Wealthfront Advisers bought 73,066 shares of American Tower worth approximately $11.95 million, while institutional investors collectively own 92.69% of the REIT.
• Analysts remain broadly positive, with a consensus “Moderate Buy” rating and an average price target of $215.14, implying upside from the stock’s $172.45 opening price.
• American Tower reported quarterly EPS of $2.71, exceeding estimates of $1.57, while revenue rose 4.6% year over year to $2.75 billion; the company also maintains a $7.16 annualized dividend yielding about 4.2%.

Wealthfront Advisers LLC purchased a new stake in shares of American Tower Corporation (NYSE:AMT - Free Report) in the second quarter, according to its most recent 13F filing with the SEC. The fund purchased 73,066 shares of the real estate investment trust's stock, valued at approximately $11,951,000.

Other large investors also recently added to or reduced their stakes in the company. Raleigh Capital Management Inc. lifted its position in American Tower by 489.1% in the 1st quarter. Raleigh Capital Management Inc. now owns 13,703 shares of the real estate investment trust's stock worth $2,365,000 after buying an additional 11,377 shares during the last quarter. Canal Capital Management LLC lifted its holdings in shares of American Tower by 81.9% in the 1st quarter. Canal Capital Management LLC now owns 34,471 shares of the real estate investment trust's stock worth $5,949,000 after acquiring an additional 15,520 shares during the last quarter. Bernzott Capital Advisors boosted its stake in shares of American Tower by 29.3% in the 1st quarter. Bernzott Capital Advisors now owns 42,161 shares of the real estate investment trust's stock valued at $7,276,000 after purchasing an additional 9,556 shares in the last quarter. Legal & General Group Plc boosted its stake in shares of American Tower by 4.7% in the 4th 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 purchasing an additional 220,447 shares in the last quarter. Finally, Swiss Life Asset Management Ltd grew its holdings in shares of American Tower by 13.9% during the 4th quarter. Swiss Life Asset Management Ltd now owns 101,993 shares of the real estate investment trust's stock valued at $17,907,000 after purchasing an additional 12,464 shares during the last quarter. Institutional investors own 92.69% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on AMT shares. Citizens Jmp restated a "market outperform" rating and set a $260.00 price target on shares of American Tower in a research report on Wednesday, April 29th. Scotiabank reissued an "outperform" rating on shares of American Tower in a research note on Wednesday, July 29th. Jefferies Financial Group cut their target price on shares of American Tower from $210.00 to $201.00 and set a "buy" rating on the stock in a report on Wednesday, July 15th. Royal Bank Of Canada raised shares of American Tower from a "sector perform" rating to an "outperform" rating and lifted their target price for the stock from $195.00 to $205.00 in a research note on Friday, June 26th. Finally, The Goldman Sachs Group set a $210.00 price target on shares of American Tower in a report on Tuesday, July 28th. One 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 stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $215.14.

Insiders Place Their Bets

In other American Tower news, CFO Robert Joseph Meyer sold 5,000 shares of American Tower stock in a transaction 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 sale, the chief financial officer owned 21,428 shares of the company's stock, valued at approximately $3,833,254.92. This trade represents a 18.92% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Ruth T. Dowling sold 1,106 shares of the business's stock in a transaction on Wednesday, July 29th. The stock was sold at an average price of $174.96, for a total value of $193,505.76. Following the completion of the transaction, the executive vice president owned 27,711 shares of the company's stock, valued at $4,848,316.56. This represents a 3.84% 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. In the last three months, insiders sold 6,791 shares of company stock valued at $1,204,091. Corporate insiders own 0.08% of the company's stock.

American Tower Stock Up 0.1%

NYSE:AMT opened at $172.45 on Wednesday. The firm has a market cap of $80.35 billion, a P/E ratio of 23.72, a P/E/G ratio of 2.79 and a beta of 0.90. The company has a debt-to-equity ratio of 3.12, a quick ratio of 0.52 and a current ratio of 0.52. American Tower Corporation has a fifty-two week low of $160.06 and a fifty-two week high of $214.79. The firm has a 50-day simple moving average of $172.11 and a two-hundred day simple moving average of $177.84.

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

American Tower Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, July 13th. Shareholders of record on Friday, June 12th were paid a dividend of $1.79 per share. 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 currently 98.49%.

American Tower Company 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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