Wealthfront Advisers LLC Makes New Investment in American Tower Corporation $AMT

Wealthfront Advisers LLC purchased a new stake in shares of American Tower Corporation (NYSE:AMT) in the second quarter, according to its most recent 13F filing with the SEC. The fund purchased 73,066 shares of the real estate investment trust’s stock, valued at approximately $11,951,000.

Other large investors also recently added to or reduced their stakes in the company. Raleigh Capital Management Inc. lifted its position in American Tower by 489.1% in the 1st quarter. Raleigh Capital Management Inc. now owns 13,703 shares of the real estate investment trust’s stock worth $2,365,000 after buying an additional 11,377 shares during the last quarter. Canal Capital Management LLC lifted its holdings in shares of American Tower by 81.9% in the 1st quarter. Canal Capital Management LLC now owns 34,471 shares of the real estate investment trust’s stock worth $5,949,000 after acquiring an additional 15,520 shares during the last quarter. Bernzott Capital Advisors boosted its stake in shares of American Tower by 29.3% in the 1st quarter. Bernzott Capital Advisors now owns 42,161 shares of the real estate investment trust’s stock valued at $7,276,000 after purchasing an additional 9,556 shares in the last quarter. Legal & General Group Plc boosted its stake in shares of American Tower by 4.7% in the 4th quarter. Legal & General Group Plc now owns 4,873,695 shares of the real estate investment trust’s stock valued at $855,675,000 after purchasing an additional 220,447 shares in the last quarter. Finally, Swiss Life Asset Management Ltd grew its holdings in shares of American Tower by 13.9% during the 4th quarter. Swiss Life Asset Management Ltd now owns 101,993 shares of the real estate investment trust’s stock valued at $17,907,000 after purchasing an additional 12,464 shares during the last quarter. Institutional investors own 92.69% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on AMT shares. Citizens Jmp restated a “market outperform” rating and set a $260.00 price target on shares of American Tower in a research report on Wednesday, April 29th. Scotiabank reissued an “outperform” rating on shares of American Tower in a research note on Wednesday, July 29th. Jefferies Financial Group cut their target price on shares of American Tower from $210.00 to $201.00 and set a “buy” rating on the stock in a report on Wednesday, July 15th. Royal Bank Of Canada raised shares of American Tower from a “sector perform” rating to an “outperform” rating and lifted their target price for the stock from $195.00 to $205.00 in a research note on Friday, June 26th. Finally, The Goldman Sachs Group set a $210.00 price target on shares of American Tower in a report on Tuesday, July 28th. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $215.14.

Insiders Place Their Bets

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

American Tower Stock Up 0.1%

NYSE:AMT opened at $172.45 on Wednesday. The firm has a market cap of $80.35 billion, a P/E ratio of 23.72, a P/E/G ratio of 2.79 and a beta of 0.90. The company has a debt-to-equity ratio of 3.12, a quick ratio of 0.52 and a current ratio of 0.52. American Tower Corporation has a fifty-two week low of $160.06 and a fifty-two week high of $214.79. The firm has a 50-day simple moving average of $172.11 and a two-hundred day simple moving average of $177.84.

American Tower (NYSE:AMT) last issued its earnings results on Tuesday, July 28th. The real estate investment trust reported $2.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.57 by $1.14. American Tower had a net margin of 31.08% and a return on equity of 32.76%. The firm had revenue of $2.75 billion for the quarter, compared to the consensus estimate of $2.70 billion. During the same quarter in the prior year, the firm posted $2.60 earnings per share. The business’s revenue was up 4.6% on a year-over-year basis. American Tower has set its FY 2026 guidance at 11.000-11.170 EPS. Analysts predict that American Tower Corporation will post 10.78 earnings per share for the current fiscal year.

American Tower Dividend Announcement

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

American Tower Company 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.