Perigon Wealth Management LLC Invests $1.06 Million in American Tower Corporation $AMT

Perigon Wealth Management LLC purchased a new position in shares of American Tower Corporation (NYSE:AMT) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 6,497 shares of the real estate investment trust’s stock, valued at approximately $1,063,000.

Other institutional investors have also added to or reduced their stakes in the company. Richards Merrill & Peterson Inc. bought a new position in American Tower during the 4th quarter worth $25,000. Oakworth Capital Inc. boosted its position 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 acquiring an additional 68 shares during the period. Swiss RE Ltd. acquired a new position in shares of American Tower in the fourth quarter valued at about $25,000. Allied Private Wealth LLC bought a new position in American Tower during the second quarter worth about $29,000. Finally, Triumph Capital Management bought a new position in American Tower during the third quarter worth about $29,000. 92.69% of the stock is currently owned by institutional investors.

Insider Activity at American Tower

In other American Tower news, CFO Robert Joseph Meyer sold 5,000 shares of the firm’s 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 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 sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Ruth T. Dowling sold 1,106 shares of American Tower stock in a transaction on Wednesday, July 29th. The shares were 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 in the company, valued at approximately $4,848,316.56. The trade was a 3.84% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 6,791 shares of company stock worth $1,204,091 in the last quarter. 0.08% of the stock is currently owned by company insiders.

American Tower Stock Up 0.1%

AMT stock opened at $172.45 on Wednesday. American Tower Corporation has a 52 week low of $160.06 and a 52 week high of $214.79. The business has a 50-day simple moving average of $172.11 and a 200 day simple moving average of $177.84. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 3.12. The company has a market cap of $80.35 billion, a PE ratio of 23.72, a price-to-earnings-growth ratio of 2.79 and a beta of 0.90.

American Tower (NYSE:AMT) last announced its quarterly earnings data on Tuesday, July 28th. The real estate investment trust reported $2.71 earnings per share (EPS) for the quarter, topping 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 firm 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 company posted $2.60 earnings per share. The business’s revenue for the quarter was up 4.6% on a year-over-year basis. American Tower has set its FY 2026 guidance at 11.000-11.170 EPS. Sell-side analysts anticipate that American Tower Corporation will post 10.78 EPS for the current fiscal year.

American Tower Dividend Announcement

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

Analysts Set New Price Targets

A number of analysts have issued reports on AMT shares. Wolfe Research raised shares of American Tower from a “peer perform” rating to an “outperform” rating and set a $188.00 price objective for the company in a report on Wednesday, July 8th. Truist Financial reaffirmed a “buy” rating and set a $207.00 target price (down from $208.00) on shares of American Tower in a report on Wednesday, August 12th. Scotiabank reiterated an “outperform” rating on shares of American Tower in a research report on Wednesday, July 29th. The Goldman Sachs Group set a $210.00 price target on American Tower in a research note on Tuesday, July 28th. Finally, Weiss Ratings raised American Tower from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, July 14th. 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 company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $215.14.

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.