Pacific Heights Asset Management LLC Purchases 75,000 Shares of American Tower Corporation $AMT

Pacific Heights Asset Management LLC lifted its position in shares of American Tower Corporation (NYSE:AMT) by 60.0% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 200,000 shares of the real estate investment trust’s stock after purchasing an additional 75,000 shares during the quarter. American Tower accounts for 1.3% of Pacific Heights Asset Management LLC’s investment portfolio, making the stock its 16th largest holding. Pacific Heights Asset Management LLC’s holdings in American Tower were worth $35,114,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of AMT. Richards Merrill & Peterson Inc. bought a new stake in American Tower during the 4th quarter valued at $25,000. Oakworth Capital Inc. lifted its stake in shares of American Tower by 90.7% in 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 in the last quarter. Holos Integrated Wealth LLC acquired a new position in shares of American Tower during the fourth quarter valued at about $27,000. Triumph Capital Management bought a new stake in shares of American Tower during the third quarter worth about $29,000. Finally, Steph & Co. increased its position in shares of American Tower by 87.2% during the fourth quarter. Steph & Co. now owns 176 shares of the real estate investment trust’s stock worth $31,000 after acquiring an additional 82 shares in the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on AMT shares. Raymond James Financial reaffirmed a “strong-buy” rating and issued a $240.00 price target on shares of American Tower in a research report on Wednesday, April 29th. UBS Group lowered their price objective on American Tower from $254.00 to $248.00 and set a “buy” rating for the company in a research note on Wednesday, February 25th. Citizens Jmp restated a “market outperform” rating and issued a $260.00 target price on shares of American Tower in a report on Wednesday, April 29th. Weiss Ratings upgraded American Tower from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, May 11th. Finally, Mizuho raised American Tower from a “neutral” rating to an “outperform” rating and increased their price target for the company from $189.00 to $205.00 in a research report on Wednesday, April 15th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $218.05.

American Tower Trading Up 0.1%

NYSE:AMT opened at $170.74 on Monday. American Tower Corporation has a 52 week low of $165.08 and a 52 week high of $234.33. The firm has a 50-day moving average price of $177.80 and a two-hundred day moving average price of $179.04. The firm has a market cap of $79.54 billion, a price-to-earnings ratio of 27.58, a price-to-earnings-growth ratio of 0.71 and a beta of 0.90. The company has a debt-to-equity ratio of 3.07, a quick ratio of 0.43 and a current ratio of 0.43.

American Tower (NYSE:AMT) last issued its quarterly earnings results on Tuesday, April 28th. The real estate investment trust reported $2.84 EPS for the quarter, beating analysts’ consensus estimates of $1.60 by $1.24. American Tower had a return on equity of 27.79% and a net margin of 26.81%.The company had revenue of $2.74 billion during the quarter, compared to the consensus estimate of $2.66 billion. During the same period last year, the business posted $2.75 earnings per share. American Tower’s revenue was up 6.8% on a year-over-year basis. American Tower has set its FY 2026 guidance at 10.900-11.07 EPS. On average, equities analysts expect that American Tower Corporation will post 10.67 earnings per share for the current fiscal year.

American Tower Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 28th. Investors of record on Tuesday, April 14th were paid a $1.79 dividend. The ex-dividend date was Tuesday, April 14th. This represents a $7.16 dividend on an annualized basis and a yield of 4.2%. This is an increase from American Tower’s previous quarterly dividend of $1.70. American Tower’s dividend payout ratio (DPR) is presently 115.67%.

Insider Buying and Selling at American Tower

In related news, EVP Ruth T. Dowling sold 416 shares of the firm’s stock in a transaction that occurred on Wednesday, April 29th. The shares were sold at an average price of $177.54, for a total value of $73,856.64. Following the completion of the transaction, the executive vice president directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Rajesh Kalathur purchased 2,671 shares of the business’s stock in a transaction dated Tuesday, March 10th. The stock was bought at an average cost of $185.30 per share, with a total value of $494,936.30. Following the completion of the acquisition, the director directly owned 4,936 shares of the company’s stock, valued at approximately $914,640.80. This trade represents a 117.92% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have sold a total of 42,181 shares of company stock valued at $8,046,071 over the last three months. 0.08% of the stock is currently owned by insiders.

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.