NewEdge Wealth LLC Sells 5,267 Shares of American Tower Corporation $AMT

NewEdge Wealth LLC decreased its position in shares of American Tower Corporation (NYSE:AMT) by 33.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,452 shares of the real estate investment trust’s stock after selling 5,267 shares during the period. NewEdge Wealth LLC’s holdings in American Tower were worth $1,804,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the company. Oakworth Capital Inc. boosted its stake in American Tower by 90.7% during the fourth quarter. Oakworth Capital Inc. now owns 143 shares of the real estate investment trust’s stock valued at $25,000 after buying an additional 68 shares during the last quarter. Richards Merrill & Peterson Inc. purchased a new stake in shares of American Tower during the 4th quarter worth approximately $25,000. Swiss RE Ltd. purchased a new stake in shares of American Tower during the 4th quarter worth approximately $25,000. Triumph Capital Management bought a new position in shares of American Tower during the 3rd quarter valued at approximately $29,000. Finally, Acumen Wealth Advisors LLC purchased a new position in shares of American Tower in the fourth quarter valued at $29,000. 92.69% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at American Tower

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

American Tower Stock Up 1.2%

NYSE AMT opened at $166.66 on Friday. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 3.07. The company has a fifty day moving average of $176.77 and a two-hundred day moving average of $178.35. The firm has a market capitalization of $77.65 billion, a price-to-earnings ratio of 26.92, a PEG ratio of 0.70 and a beta of 0.91. American Tower Corporation has a 52 week low of $160.06 and a 52 week high of $231.54.

American Tower (NYSE:AMT) last announced its earnings results on Tuesday, April 28th. The real estate investment trust reported $2.84 earnings per share for the quarter, beating the consensus estimate of $1.60 by $1.24. The business had revenue of $2.74 billion for the quarter, compared to the consensus estimate of $2.66 billion. American Tower had a net margin of 26.81% and a return on equity of 27.79%. The business’s revenue for the quarter was up 6.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.75 earnings per share. American Tower has set its FY 2026 guidance at 10.900-11.07 EPS. On average, analysts predict that American Tower Corporation will post 10.66 earnings per share for the current 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. This represents a $7.16 annualized dividend and a yield of 4.3%. The ex-dividend date was Friday, June 12th. American Tower’s dividend payout ratio is presently 115.67%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on AMT. Weiss Ratings raised shares of American Tower from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, July 14th. Truist Financial lifted their price objective on shares of American Tower from $205.00 to $208.00 and gave the stock a “buy” rating in a research note on Thursday, April 30th. Raymond James Financial restated a “strong-buy” rating and issued a $240.00 target price on shares of American Tower in a report on Wednesday, April 29th. Royal Bank Of Canada raised shares of American Tower from a “sector perform” rating to an “outperform” rating and increased their price target for the company from $195.00 to $205.00 in a report on Friday, June 26th. Finally, The Goldman Sachs Group assumed coverage on American Tower in a research report on Friday, June 26th. They issued a “buy” rating and a $215.00 price target for the company. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $215.57.

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.