SteelPeak Wealth LLC Acquires New Shares in American Tower Corporation $AMT

SteelPeak Wealth LLC acquired a new position in shares of American Tower Corporation (NYSE:AMT) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 18,992 shares of the real estate investment trust’s stock, valued at approximately $3,278,000.

Several other large investors have also added to or reduced their stakes in the stock. Richards Merrill & Peterson Inc. bought a new stake in shares of American Tower during the fourth quarter valued at about $25,000. Oakworth Capital Inc. lifted its holdings 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 worth $25,000 after buying an additional 68 shares in the last quarter. Swiss RE Ltd. bought a new position in shares of American Tower in the fourth quarter valued at approximately $25,000. Holos Integrated Wealth LLC purchased a new position in American Tower during the fourth quarter valued at approximately $27,000. Finally, Triumph Capital Management bought a new stake in American Tower during the 3rd quarter worth approximately $29,000. Institutional investors own 92.69% of the company’s stock.

Insider Transactions at American Tower

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

American Tower Trading Up 0.7%

Shares of AMT opened at $170.13 on Friday. American Tower Corporation has a 1-year low of $160.06 and a 1-year high of $234.33. The company has a market capitalization of $79.26 billion, a P/E ratio of 27.48, a P/E/G ratio of 0.71 and a beta of 0.91. The company has a debt-to-equity ratio of 3.07, a current ratio of 0.43 and a quick ratio of 0.43. The firm’s 50 day simple moving average is $177.64 and its 200 day simple moving average is $178.70.

American Tower (NYSE:AMT) last released its quarterly earnings results on Tuesday, April 28th. The real estate investment trust reported $2.84 EPS for the quarter, topping analysts’ consensus estimates of $1.60 by $1.24. The business had revenue of $2.74 billion during the quarter, compared to analysts’ expectations of $2.66 billion. American Tower had a net margin of 26.81% and a return on equity of 27.79%. The business’s quarterly revenue was up 6.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.75 EPS. American Tower has set its FY 2026 guidance at 10.900-11.07 EPS. Sell-side analysts forecast that American Tower Corporation will post 10.66 earnings per share for the current fiscal year.

American Tower Announces Dividend

The business also recently disclosed 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 payout ratio is currently 115.67%.

Wall Street Analyst Weigh In

Several research firms have issued reports on AMT. Scotiabank increased their target price on shares of American Tower from $214.00 to $218.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 29th. Weiss Ratings upgraded shares of American Tower from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday. Truist Financial increased their price objective on American Tower from $205.00 to $208.00 and gave the stock a “buy” rating in a research report on Thursday, April 30th. Jefferies Financial Group lifted their price objective on American Tower from $209.00 to $210.00 and gave the company a “buy” rating in a research note on Tuesday, April 14th. Finally, Raymond James Financial restated a “strong-buy” rating and set a $240.00 target price on shares of American Tower in a research report on Wednesday, April 29th. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, American Tower has an average rating of “Moderate Buy” and a consensus target price of $215.57.

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.