NewEdge Wealth LLC Has $2.76 Million Stock Holdings in American Tower Corporation $AMT

NewEdge Wealth LLC lifted its position in shares of American Tower Corporation (NYSE:AMT) by 34.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,719 shares of the real estate investment trust’s stock after purchasing an additional 4,068 shares during the quarter. NewEdge Wealth LLC’s holdings in American Tower were worth $2,760,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in AMT. Lazard Asset Management LLC boosted its position in shares of American Tower by 1,984.8% during the third quarter. Lazard Asset Management LLC now owns 4,464,382 shares of the real estate investment trust’s stock worth $858,552,000 after purchasing an additional 4,250,242 shares in the last quarter. Viking Global Investors LP boosted its stake in shares of American Tower by 233.5% during the 2nd quarter. Viking Global Investors LP now owns 2,797,125 shares of the real estate investment trust’s stock worth $618,221,000 after buying an additional 1,958,329 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC acquired a new position in shares of American Tower during the 3rd quarter worth about $305,872,000. Arrowstreet Capital Limited Partnership raised its holdings in shares of American Tower by 35.0% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 2,796,007 shares of the real estate investment trust’s stock valued at $537,728,000 after purchasing an additional 724,504 shares during the period. Finally, Two Sigma Investments LP raised its holdings in shares of American Tower by 733.1% in the 3rd quarter. Two Sigma Investments LP now owns 804,761 shares of the real estate investment trust’s stock valued at $154,772,000 after purchasing an additional 708,158 shares during the period. 92.69% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

AMT has been the topic of several research analyst reports. Raymond James Financial reissued a “strong-buy” rating and issued a $240.00 price target on shares of American Tower in a report on Wednesday, April 29th. Sanford C. Bernstein increased their target price on shares of American Tower from $205.00 to $207.00 and gave the stock a “market perform” rating in a research report on Tuesday, April 28th. Jefferies Financial Group increased their price target on shares of American Tower from $209.00 to $210.00 and gave the stock a “buy” rating in a research report on Tuesday, April 14th. TD Cowen reduced their price target on shares of American Tower from $235.00 to $225.00 in a research report on Wednesday, February 25th. Finally, Barclays cut their target price on shares of American Tower from $200.00 to $195.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 16th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, American Tower presently has an average rating of “Moderate Buy” and a consensus price target of $218.05.

American Tower Trading Up 0.8%

NYSE:AMT opened at $178.80 on Wednesday. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 3.07. The stock has a market capitalization of $83.30 billion, a price-to-earnings ratio of 28.89, a PEG ratio of 0.74 and a beta of 0.90. The firm has a fifty day simple moving average of $178.92 and a two-hundred day simple moving average of $179.43. American Tower Corporation has a 12 month low of $165.08 and a 12 month high of $234.33.

American Tower (NYSE:AMT) last posted its quarterly earnings results on Tuesday, April 28th. The real estate investment trust reported $2.84 EPS for the quarter, topping analysts’ consensus estimates 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 net margin of 26.81% and a return on equity of 27.79%. The business’s quarterly revenue was up 6.8% on a year-over-year basis. During the same period last year, the company posted $2.75 earnings per share. American Tower has set its FY 2026 guidance at 10.900-11.07 EPS. Analysts expect that American Tower Corporation will post 10.67 EPS for the current fiscal year.

American Tower Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 28th. Shareholders of record on Tuesday, April 14th were given a $1.79 dividend. This is a positive change from American Tower’s previous quarterly dividend of $1.70. This represents a $7.16 annualized dividend and a yield of 4.0%. The ex-dividend date of this dividend was Tuesday, April 14th. American Tower’s payout ratio is presently 115.67%.

Insiders Place Their Bets

In other American Tower news, EVP Ruth T. Dowling sold 416 shares of American Tower 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 sale, the executive vice president owned 29,461 shares of the company’s stock, valued at approximately $5,230,505.94. The trade was a 1.39% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Rajesh Kalathur acquired 2,671 shares of the stock in a transaction on Tuesday, March 10th. The stock was bought at an average cost of $185.30 per share, for a total transaction of $494,936.30. Following the transaction, the director owned 4,936 shares of the company’s stock, valued at approximately $914,640.80. This trade represents a 117.92% increase in their position. The SEC filing for this purchase provides additional information. Over the last 90 days, insiders have sold 42,181 shares of company stock valued at $8,046,071. Company insiders own 0.08% of the company’s stock.

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.