Elevation Point Wealth Partners LLC Acquires 3,878 Shares of American Tower Corporation $AMT

Elevation Point Wealth Partners LLC grew its holdings in American Tower Corporation (NYSE:AMT) by 56.3% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 10,763 shares of the real estate investment trust’s stock after acquiring an additional 3,878 shares during the period. Elevation Point Wealth Partners LLC’s holdings in American Tower were worth $1,858,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the business. CIBC Bancorp USA Inc. bought a new stake in shares of American Tower in the 3rd quarter worth about $35,633,000. Nordea Investment Management AB grew its holdings in American Tower by 10.4% during the 4th quarter. Nordea Investment Management AB now owns 1,743,321 shares of the real estate investment trust’s stock valued at $306,284,000 after purchasing an additional 164,645 shares during the last quarter. Legal & General Group Plc raised its position in 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. Rathbones Group PLC lifted its stake in 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 purchasing an additional 61,428 shares during the last quarter. Finally, Merit Financial Group LLC boosted its position in shares of American Tower by 60.6% during the fourth quarter. Merit Financial Group LLC now owns 23,212 shares of the real estate investment trust’s stock valued at $4,075,000 after buying an additional 8,758 shares during the period. 92.69% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at American Tower

In related news, EVP Ruth T. Dowling sold 556 shares of American Tower stock in a transaction dated Tuesday, April 28th. The stock was sold at an average price of $178.48, for a total value of $99,234.88. Following the completion of the sale, the executive vice president directly owned 29,877 shares in the company, valued at $5,332,446.96. The trade was a 1.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 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 Stock Performance

American Tower stock opened at $165.84 on Monday. The company has a debt-to-equity ratio of 3.07, a quick ratio of 0.43 and a current ratio of 0.43. The company has a market capitalization of $77.27 billion, a PE ratio of 26.79, a P/E/G ratio of 0.69 and a beta of 0.91. The company has a 50 day moving average price of $179.93 and a 200-day moving average price of $179.30. American Tower Corporation has a fifty-two week low of $162.27 and a fifty-two week high of $234.33.

American Tower (NYSE:AMT) last released its quarterly earnings data on Tuesday, April 28th. The real estate investment trust reported $2.84 EPS for the quarter, topping the consensus estimate of $1.60 by $1.24. The company had revenue of $2.74 billion for the quarter, compared to the consensus estimate of $2.66 billion. American Tower had a return on equity of 27.79% and a net margin of 26.81%.American Tower’s quarterly revenue was up 6.8% on a year-over-year basis. During the same period last year, the business posted $2.75 EPS. American Tower has set its FY 2026 guidance at 10.900-11.07 EPS. As a group, equities analysts forecast 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 will be paid on Monday, July 13th. Stockholders of record on Friday, June 12th will be paid a dividend of $1.79 per share. The ex-dividend date is 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%.

Analyst Ratings Changes

AMT has been the topic of a number of analyst reports. Royal Bank Of Canada raised American Tower from a “sector perform” rating to an “outperform” rating and upped their target price for the company from $195.00 to $205.00 in a research note on Friday, June 26th. JPMorgan Chase & Co. dropped their price objective on American Tower from $245.00 to $240.00 and set an “overweight” rating for the company in a report on Wednesday, April 29th. Mizuho raised American Tower from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $189.00 to $205.00 in a research report on Wednesday, April 15th. Barclays reduced their target price on American Tower from $200.00 to $195.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 16th. 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 equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $216.95.

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.