Harrison Street Private Wealth LLC Buys New Shares in American Tower Corporation $AMT

Harrison Street Private Wealth LLC purchased a new stake in American Tower Corporation (NYSE:AMT) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 17,910 shares of the real estate investment trust’s stock, valued at approximately $3,091,000. American Tower comprises 4.1% of Harrison Street Private Wealth LLC’s holdings, making the stock its 17th largest holding.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in AMT. Richards Merrill & Peterson Inc. bought a new position in shares of American Tower in the 4th quarter valued at about $25,000. Oakworth Capital Inc. raised its holdings in American Tower by 90.7% during the fourth quarter. Oakworth Capital Inc. now owns 143 shares of the real estate investment trust’s stock worth $25,000 after acquiring an additional 68 shares in the last quarter. Swiss RE Ltd. bought a new stake in American Tower during the fourth quarter worth about $25,000. Holos Integrated Wealth LLC acquired a new position in American Tower during the fourth quarter valued at approximately $27,000. Finally, Triumph Capital Management acquired a new position in American Tower during the third quarter valued at approximately $29,000. 92.69% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

AMT has been the topic of several recent analyst reports. Raymond James Financial reaffirmed a “strong-buy” rating and set a $240.00 price target on shares of American Tower in a research report on Wednesday, April 29th. Mizuho raised American Tower from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $189.00 to $205.00 in a report on Wednesday, April 15th. Weiss Ratings cut shares of American Tower from a “hold (c)” rating to a “hold (c-)” rating in a research note on Monday. Jefferies Financial Group boosted their target price on shares of American Tower from $209.00 to $210.00 and gave the stock a “buy” rating in a report on Tuesday, April 14th. Finally, Barclays dropped their price target on shares of American Tower from $200.00 to $195.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 16th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, American Tower currently has an average rating of “Moderate Buy” and an average price target of $216.95.

Insider Transactions at American Tower

In other American Tower news, EVP Ruth T. Dowling sold 416 shares of the company’s stock in a transaction on Wednesday, April 29th. The stock was sold at an average price of $177.54, for a total value of $73,856.64. Following the transaction, the executive vice president directly owned 29,461 shares of the company’s stock, valued at $5,230,505.94. This represents a 1.39% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.08% of the stock is owned by company insiders.

American Tower Stock Down 0.1%

American Tower stock opened at $165.84 on Friday. The company’s 50-day moving average price is $180.14 and its two-hundred day moving average price is $179.40. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 3.07. The stock has a market cap of $77.27 billion, a P/E ratio of 26.79, a P/E/G ratio of 0.69 and a beta of 0.91. American Tower Corporation has a twelve month low of $162.27 and a twelve month high of $234.33.

American Tower (NYSE:AMT) last issued its quarterly earnings data on Tuesday, April 28th. The real estate investment trust reported $2.84 earnings per share (EPS) for the quarter, topping 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 analysts’ expectations of $2.66 billion. During the same quarter in the previous year, the company posted $2.75 earnings per share. The business’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. As a group, analysts expect that American Tower Corporation will post 10.66 EPS for the current year.

American Tower Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, July 13th. Investors of record on Friday, June 12th will be paid a $1.79 dividend. The ex-dividend date is Friday, June 12th. This represents a $7.16 annualized dividend and a yield of 4.3%. American Tower’s payout ratio 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.