Prestige Wealth Management Group LLC Grows Position in American Tower Corporation $AMT

Prestige Wealth Management Group LLC raised its stake in American Tower Corporation (NYSE:AMT) by 5,582.9% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,967 shares of the real estate investment trust’s stock after acquiring an additional 5,862 shares during the quarter. Prestige Wealth Management Group LLC’s holdings in American Tower were worth $1,030,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Lasalle Investment Management Securities LLC boosted its stake in shares of American Tower by 22.9% during the first quarter. Lasalle Investment Management Securities LLC now owns 648,257 shares of the real estate investment trust’s stock valued at $111,876,000 after acquiring an additional 120,641 shares during the last quarter. AR Asset Management Inc. acquired a new position in American Tower in the 1st quarter valued at about $1,035,000. First Citizens Bank & Trust Co. raised its stake in American Tower by 9.1% in the 1st quarter. First Citizens Bank & Trust Co. now owns 1,356 shares of the real estate investment trust’s stock valued at $234,000 after purchasing an additional 113 shares during the last quarter. Acumen Wealth Advisors LLC lifted its holdings in American Tower by 1,840.0% in the 1st quarter. Acumen Wealth Advisors LLC now owns 3,201 shares of the real estate investment trust’s stock valued at $552,000 after purchasing an additional 3,036 shares in the last quarter. Finally, CI Investments Inc. lifted its holdings in American Tower by 6.3% in the 1st quarter. CI Investments Inc. now owns 88,755 shares of the real estate investment trust’s stock valued at $15,317,000 after purchasing an additional 5,271 shares in the last quarter. 92.69% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. Weiss Ratings upgraded shares of American Tower from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, July 14th. Mizuho raised shares of 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 note on Wednesday, April 15th. JPMorgan Chase & Co. decreased their target price on shares of American Tower from $245.00 to $240.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 29th. The Goldman Sachs Group assumed coverage on shares of American Tower in a research note on Friday, June 26th. They issued a “buy” rating and a $215.00 target price for the company. Finally, Jefferies Financial Group boosted their price target on American Tower from $209.00 to $210.00 and gave the company a “buy” rating in a report on Tuesday, April 14th. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $215.57.

Insiders Place Their Bets

In related news, EVP Ruth T. Dowling sold 556 shares of American Tower stock in a transaction on Tuesday, April 28th. The stock was sold at an average price of $178.48, for a total value of $99,234.88. Following the transaction, the executive vice president owned 29,877 shares in the company, valued at approximately $5,332,446.96. This trade represents a 1.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.08% of the company’s stock.

American Tower Trading Up 1.7%

Shares of AMT stock opened at $166.24 on Thursday. The firm’s 50-day simple moving average is $176.97 and its 200-day simple moving average is $178.50. The company has a debt-to-equity ratio of 3.07, a current ratio of 0.43 and a quick ratio of 0.43. American Tower Corporation has a 1-year low of $160.06 and a 1-year high of $234.33. The firm has a market cap of $77.45 billion, a P/E ratio of 26.86, a PEG ratio of 0.68 and a beta of 0.91.

American Tower (NYSE:AMT) last released its earnings results on Tuesday, April 28th. The real estate investment trust reported $2.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.60 by $1.24. American Tower had a net margin of 26.81% and a return on equity of 27.79%. The firm had revenue of $2.74 billion during the quarter, compared to the consensus estimate of $2.66 billion. During the same period in the previous year, the firm earned $2.75 earnings per share. American Tower’s 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, equities analysts forecast that American Tower Corporation will post 10.66 EPS for the current year.

American Tower Announces Dividend

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

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.