Phillips Wealth Planners LLC Invests $511,000 in American Tower Corporation $AMT

Phillips Wealth Planners LLC purchased a new position in shares of American Tower Corporation (NYSE:AMT) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 3,094 shares of the real estate investment trust’s stock, valued at approximately $511,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. J. Stern & Co. LLP boosted its holdings in American Tower by 28,121.1% in the 4th quarter. J. Stern & Co. LLP now owns 37,686,978 shares of the real estate investment trust’s stock worth $6,616,703,000 after buying an additional 37,553,436 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its holdings in shares of American Tower by 20,721.6% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 9,712,672 shares of the real estate investment trust’s stock valued at $1,705,254,000 after acquiring an additional 9,666,025 shares during the last quarter. Norges Bank acquired a new position in shares of American Tower during the fourth quarter valued at approximately $1,171,180,000. Lazard Asset Management LLC lifted its position in shares of American Tower by 1,984.8% in the third quarter. Lazard Asset Management LLC now owns 4,464,382 shares of the real estate investment trust’s stock valued at $858,552,000 after acquiring an additional 4,250,242 shares in the last quarter. Finally, Bank of New York Mellon Corp acquired a new stake in shares of American Tower in the second quarter worth approximately $500,016,000. 92.69% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently commented on AMT shares. Scotiabank reiterated an “outperform” rating on shares of American Tower in a research report on Wednesday, July 29th. JPMorgan Chase & Co. decreased their price objective on American Tower from $245.00 to $240.00 and set an “overweight” rating on the stock in a report on Wednesday, April 29th. Jefferies Financial Group lowered their target price on shares of American Tower from $210.00 to $201.00 and set a “buy” rating on the stock in a research note on Wednesday, July 15th. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $214.00 target price on shares of American Tower in a report on Wednesday, July 29th. Finally, TD Cowen increased their target price on shares of American Tower from $225.00 to $227.00 and gave the company a “buy” rating in a research report on Wednesday, July 29th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $215.14.

American Tower Trading Down 2.0%

Shares of AMT opened at $172.12 on Tuesday. American Tower Corporation has a 12-month low of $160.06 and a 12-month high of $214.79. The firm has a market capitalization of $80.20 billion, a P/E ratio of 23.68, a P/E/G ratio of 2.79 and a beta of 0.90. The firm has a 50-day moving average price of $172.48 and a 200 day moving average price of $177.87. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 3.12.

American Tower (NYSE:AMT) last issued its earnings results on Tuesday, July 28th. The real estate investment trust reported $2.71 EPS for the quarter, topping analysts’ consensus estimates of $1.57 by $1.14. The company had revenue of $2.75 billion for the quarter, compared to the consensus estimate of $2.70 billion. American Tower had a net margin of 31.08% and a return on equity of 32.76%. American Tower’s quarterly revenue was up 4.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.60 earnings per share. American Tower has set its FY 2026 guidance at 11.000-11.170 EPS. Sell-side analysts forecast that American Tower Corporation will post 10.78 EPS for the current 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 given a dividend of $1.79 per share. This represents a $7.16 annualized dividend and a dividend yield of 4.2%. The ex-dividend date of this dividend was Friday, June 12th. American Tower’s payout ratio is presently 98.49%.

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 transaction of $894,450.00. Following the completion of the sale, the chief financial officer owned 21,428 shares of the company’s stock, valued at $3,833,254.92. This trade represents a 18.92% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available 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 sale, the executive vice president owned 27,711 shares in the company, valued at $4,848,316.56. This represents 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. In the last ninety days, insiders have sold 6,791 shares of company stock worth $1,204,091. Corporate insiders own 0.08% of the company’s stock.

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.