Phillips Wealth Planners LLC Makes New $511,000 Investment in American Tower Corporation $AMT

Phillips Wealth Planners LLC purchased a new stake in shares of American Tower Corporation (NYSE:AMT) in the second quarter, HoldingsChannel reports. The firm purchased 3,094 shares of the real estate investment trust’s stock, valued at approximately $511,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Brighton Jones LLC boosted its position in shares of American Tower by 113.0% during the 4th quarter. Brighton Jones LLC now owns 3,966 shares of the real estate investment trust’s stock worth $727,000 after purchasing an additional 2,104 shares during the period. Sivia Capital Partners LLC raised its position in American Tower by 34.3% in the second quarter. Sivia Capital Partners LLC now owns 1,442 shares of the real estate investment trust’s stock valued at $319,000 after purchasing an additional 368 shares during the period. United Bank lifted its stake in American Tower by 12.7% during the second quarter. United Bank now owns 6,488 shares of the real estate investment trust’s stock worth $1,434,000 after purchasing an additional 733 shares in the last quarter. Treasurer of the State of North Carolina boosted its position in shares of American Tower by 2.2% during the second quarter. Treasurer of the State of North Carolina now owns 218,511 shares of the real estate investment trust’s stock worth $48,295,000 after buying an additional 4,778 shares during the period. Finally, Ieq Capital LLC grew its stake in shares of American Tower by 52.2% in the second quarter. Ieq Capital LLC now owns 34,248 shares of the real estate investment trust’s stock valued at $7,570,000 after buying an additional 11,751 shares in the last quarter. 92.69% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on AMT shares. Truist Financial reissued a “buy” rating and set a $207.00 target price (down from $208.00) on shares of American Tower in a research note on Wednesday, August 12th. The Goldman Sachs Group set a $210.00 target price on American Tower in a research report on Tuesday, July 28th. Weiss Ratings upgraded shares of American Tower from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, July 14th. Wolfe Research raised shares of American Tower from a “peer perform” rating to an “outperform” rating and set a $188.00 price target on the stock in a research report on Wednesday, July 8th. Finally, BMO Capital Markets raised their price objective on shares of American Tower from $190.00 to $195.00 and gave the company a “market perform” rating in a research note on Wednesday, July 29th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $215.14.

Insider Buying and Selling at American Tower

In other American Tower news, CFO Robert Joseph Meyer sold 5,000 shares of American Tower stock in a transaction dated Wednesday, July 29th. The stock was sold at an average price of $178.89, for a total transaction of $894,450.00. Following the completion of the sale, the chief financial officer directly owned 21,428 shares of the company’s stock, valued at $3,833,254.92. The trade was a 18.92% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Ruth T. Dowling sold 1,106 shares of the company’s stock in a transaction dated Wednesday, July 29th. The stock was sold at an average price of $174.96, for a total value of $193,505.76. Following the transaction, the executive vice president directly owned 27,711 shares of the company’s stock, valued at approximately $4,848,316.56. This represents a 3.84% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 6,791 shares of company stock worth $1,204,091 in the last three months. 0.08% of the stock is currently owned by corporate insiders.

American Tower Stock Down 2.0%

Shares of American Tower stock opened at $172.12 on Tuesday. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 3.12. American Tower Corporation has a 52-week low of $160.06 and a 52-week high of $214.79. The company has a market capitalization of $80.20 billion, a P/E ratio of 23.68, a P/E/G ratio of 2.79 and a beta of 0.90. The company has a 50 day moving average of $172.48 and a 200 day moving average of $177.87.

American Tower (NYSE:AMT) last announced its quarterly earnings data on Tuesday, July 28th. The real estate investment trust reported $2.71 EPS for the quarter, beating analysts’ consensus estimates of $1.57 by $1.14. American Tower had a net margin of 31.08% and a return on equity of 32.76%. The company had revenue of $2.75 billion for the quarter, compared to the consensus estimate of $2.70 billion. During the same period in the prior year, the firm posted $2.60 EPS. The company’s quarterly revenue was up 4.6% compared to the same quarter last year. American Tower has set its FY 2026 guidance at 11.000-11.170 EPS. As a group, research analysts forecast that American Tower Corporation will post 10.78 EPS for the current fiscal year.

American Tower Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, July 13th. Investors of record on Friday, June 12th were paid a dividend of $1.79 per share. The ex-dividend date was Friday, June 12th. This represents a $7.16 dividend on an annualized basis and a dividend yield of 4.2%. American Tower’s payout ratio is presently 98.49%.

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.