Wealthfront Advisers LLC Purchases 11,051 Shares of American Tower Corporation $AMT

Wealthfront Advisers LLC increased its position in shares of American Tower Corporation (NYSE:AMT) by 11.3% during the first quarter, Holdings Channel reports. The institutional investor 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 SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in AMT. Brighton Jones LLC increased its holdings in shares of American Tower by 113.0% during the fourth quarter. Brighton Jones LLC now owns 3,966 shares of the real estate investment trust’s stock valued at $727,000 after acquiring an additional 2,104 shares in the last quarter. Sivia Capital Partners LLC lifted its holdings in shares of American Tower by 34.3% in the 2nd quarter. Sivia Capital Partners LLC now owns 1,442 shares of the real estate investment trust’s stock worth $319,000 after purchasing an additional 368 shares in the last quarter. United Bank grew its position in American Tower by 12.7% in the 2nd quarter. United Bank now owns 6,488 shares of the real estate investment trust’s stock valued at $1,434,000 after purchasing an additional 733 shares during the period. Treasurer of the State of North Carolina grew its position in American Tower by 2.2% in the 2nd quarter. Treasurer of the State of North Carolina now owns 218,511 shares of the real estate investment trust’s stock valued at $48,295,000 after purchasing an additional 4,778 shares during the period. Finally, Ieq Capital LLC increased its stake in American Tower by 52.2% during the 2nd quarter. Ieq Capital LLC now owns 34,248 shares of the real estate investment trust’s stock valued at $7,570,000 after purchasing an additional 11,751 shares in the last quarter. Institutional investors own 92.69% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on AMT. Jefferies Financial Group upped their price objective on shares of American Tower from $209.00 to $210.00 and gave the stock a “buy” rating in a report on Tuesday, April 14th. Citizens Jmp reiterated a “market outperform” rating and set a $260.00 price objective on shares of American Tower in a report on Wednesday, April 29th. Truist Financial upped their target price on shares of American Tower from $205.00 to $208.00 and gave the stock a “buy” rating in a report on Thursday, April 30th. Mizuho raised shares of American Tower from a “neutral” rating to an “outperform” rating and raised their price target for the company from $189.00 to $205.00 in a research report on Wednesday, April 15th. Finally, Wolfe Research upgraded American Tower from a “peer perform” rating to an “outperform” rating and set a $188.00 price target for the company in a research note on Wednesday, July 8th. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, American Tower currently has a consensus rating of “Moderate Buy” and a consensus price target of $215.57.

American Tower Price Performance

Shares of NYSE:AMT opened at $168.87 on Friday. 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’s fifty day simple moving average is $177.77 and its two-hundred day simple moving average is $178.76. American Tower Corporation has a 1-year low of $160.06 and a 1-year high of $234.33. The stock has a market cap of $78.68 billion, a PE ratio of 27.28, a price-to-earnings-growth ratio of 0.70 and a beta of 0.91.

American Tower (NYSE:AMT) last posted its quarterly earnings data on Tuesday, April 28th. The real estate investment trust reported $2.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.60 by $1.24. American Tower had a net margin of 26.81% and a return on equity of 27.79%. The firm had revenue of $2.74 billion for the quarter, compared to the consensus estimate of $2.66 billion. During the same period in the previous year, the firm earned $2.75 EPS. The business’s revenue for the quarter was up 6.8% compared to the same quarter last year. American Tower has set its FY 2026 guidance at 10.900-11.07 EPS. As a group, analysts forecast that American Tower Corporation will post 10.66 EPS for the current fiscal year.

American Tower Announces Dividend

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

Insider Transactions at American Tower

In other American Tower news, EVP Ruth T. Dowling sold 416 shares of the 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 completion of the sale, the executive vice president owned 29,461 shares in the company, valued at approximately $5,230,505.94. This trade represents a 1.39% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.08% of the company’s stock.

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.