SteelPeak Wealth LLC Takes $3.28 Million Position in American Tower Corporation $AMT

SteelPeak Wealth LLC bought a new position in shares of American Tower Corporation (NYSE:AMT) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 18,992 shares of the real estate investment trust’s stock, valued at approximately $3,278,000.

A number of other large investors also recently modified their holdings of the company. Richards Merrill & Peterson Inc. bought a new position in shares of American Tower during the fourth quarter valued at about $25,000. Oakworth Capital Inc. grew its position in American Tower by 90.7% in the 4th quarter. Oakworth Capital Inc. now owns 143 shares of the real estate investment trust’s stock worth $25,000 after purchasing an additional 68 shares in the last quarter. Swiss RE Ltd. purchased a new stake in American Tower in the 4th quarter valued at about $25,000. Holos Integrated Wealth LLC bought a new position in shares of American Tower during the 4th quarter worth approximately $27,000. Finally, Triumph Capital Management bought a new position in shares of American Tower during the 3rd quarter worth approximately $29,000. 92.69% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, EVP Ruth T. Dowling sold 556 shares of American Tower stock in a transaction dated Tuesday, April 28th. The shares were sold at an average price of $178.48, for a total value of $99,234.88. Following the completion of the transaction, the executive vice president owned 29,877 shares in the company, valued at $5,332,446.96. This trade represents a 1.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 Ratings Changes

Several equities research analysts have recently issued reports on the company. Wolfe Research raised American Tower from a “peer perform” rating to an “outperform” rating and set a $188.00 target price for the company in a research report on Wednesday, July 8th. The Goldman Sachs Group started coverage on shares of American Tower in a report on Friday, June 26th. They issued a “buy” rating and a $215.00 price target on the stock. Royal Bank Of Canada upgraded shares of American Tower from a “sector perform” rating to an “outperform” rating and raised their price objective for the stock from $195.00 to $205.00 in a report on Friday, June 26th. Weiss Ratings raised shares of American Tower from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday. Finally, Truist Financial boosted their target price on shares of American Tower from $205.00 to $208.00 and gave the company a “buy” rating in a research note on Thursday, April 30th. One research 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 stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $215.57.

American Tower Stock Performance

Shares of AMT opened at $170.13 on Friday. The firm has a market cap of $79.26 billion, a PE ratio of 27.48, a PEG ratio of 0.71 and a beta of 0.91. The stock’s fifty day moving average price is $177.64 and its two-hundred day moving average price is $178.70. The company has a debt-to-equity ratio of 3.07, a current ratio of 0.43 and a quick ratio of 0.43. American Tower Corporation has a 1 year low of $160.06 and a 1 year 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 earnings per share for the quarter, topping the consensus estimate of $1.60 by $1.24. American Tower had a return on equity of 27.79% and a net margin of 26.81%.The company had revenue of $2.74 billion during the quarter, compared to the consensus estimate of $2.66 billion. During the same quarter in the prior year, the company earned $2.75 EPS. The firm’s quarterly revenue 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. On average, equities research analysts forecast that American Tower Corporation will post 10.66 EPS for the current year.

American Tower Dividend Announcement

The firm also recently disclosed 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. The ex-dividend date of this dividend was Friday, June 12th. This represents a $7.16 annualized dividend and a yield of 4.2%. American Tower’s dividend payout ratio is 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.