NewEdge Wealth LLC Decreases Position in American Tower Corporation $AMT

NewEdge Wealth LLC cut its holdings in shares of American Tower Corporation (NYSE:AMT) by 33.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund 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.

Other large investors also recently bought and sold shares of the company. Raleigh Capital Management Inc. boosted its position in American Tower by 489.1% in the first quarter. Raleigh Capital Management Inc. now owns 13,703 shares of the real estate investment trust’s stock worth $2,365,000 after purchasing an additional 11,377 shares during the last quarter. Canal Capital Management LLC increased its position in shares of American Tower by 81.9% during the 1st quarter. Canal Capital Management LLC now owns 34,471 shares of the real estate investment trust’s stock valued at $5,949,000 after purchasing an additional 15,520 shares during the last quarter. Bernzott Capital Advisors lifted 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 worth $7,276,000 after purchasing an additional 9,556 shares during the period. Legal & General Group Plc lifted 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 worth $855,675,000 after purchasing an additional 220,447 shares during the period. Finally, Rathbones Group PLC boosted its holdings in shares of American Tower by 14.9% in the fourth quarter. Rathbones Group PLC now owns 474,216 shares of the real estate investment trust’s stock worth $83,258,000 after buying an additional 61,428 shares during the last quarter. 92.69% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Barclays cut their target price on shares of American Tower from $200.00 to $195.00 and set an “equal weight” rating for the company in a research report on Thursday, April 16th. Raymond James Financial reiterated a “strong-buy” rating and issued a $240.00 price target on shares of American Tower in a research report on Wednesday, April 29th. Scotiabank lifted their price target on shares of American Tower from $214.00 to $218.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 29th. Royal Bank Of Canada raised shares of American Tower from a “sector perform” rating to an “outperform” rating and boosted their price objective for the company from $195.00 to $205.00 in a research report on Friday, June 26th. Finally, JPMorgan Chase & Co. decreased their target price on American Tower from $245.00 to $240.00 and set an “overweight” rating on the stock in a report on Wednesday, April 29th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, American Tower presently has a consensus rating of “Moderate Buy” and a consensus price target of $215.57.

American Tower Price Performance

NYSE AMT opened at $166.66 on Friday. American Tower Corporation has a 12 month low of $160.06 and a 12 month high of $231.54. The stock has a market cap of $77.65 billion, a price-to-earnings ratio of 26.92, a PEG ratio of 0.70 and a beta of 0.91. The company’s 50 day moving average is $176.77 and its two-hundred day moving average is $178.35. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 3.07.

American Tower (NYSE:AMT) last issued its 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 net margin of 26.81% and a return on equity of 27.79%. 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 firm posted $2.75 EPS. American Tower’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. As a group, research analysts anticipate that American Tower Corporation will post 10.66 earnings per share for the current year.

American Tower Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, July 13th. Investors of record on Friday, June 12th were given a dividend of $1.79 per share. The ex-dividend date was Friday, June 12th. This represents a $7.16 annualized dividend and a dividend yield of 4.3%. American Tower’s dividend payout ratio (DPR) is currently 115.67%.

Insider Activity

In related news, EVP Ruth T. Dowling sold 416 shares of American Tower 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 sale, the executive vice president owned 29,461 shares of the company’s stock, valued at approximately $5,230,505.94. This trade represents a 1.39% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.08% of the company’s stock.

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.