Gibbs Wealth Management Grows Position in American Tower Corporation $AMT

Gibbs Wealth Management boosted its position in shares of American Tower Corporation (NYSE:AMT) by 102.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,956 shares of the real estate investment trust’s stock after buying an additional 6,057 shares during the period. Gibbs Wealth Management’s holdings in American Tower were worth $2,063,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Sei Investments Co. grew its position in shares of American Tower by 8.0% during the first quarter. Sei Investments Co. now owns 867,418 shares of the real estate investment trust’s stock worth $149,704,000 after acquiring an additional 63,924 shares during the last quarter. Keynote Financial Services LLC acquired a new position in shares of American Tower in the 1st quarter valued at $205,000. Davis R M Inc. raised its position in American Tower by 1.4% in the 1st quarter. Davis R M Inc. now owns 289,155 shares of the real estate investment trust’s stock valued at $49,902,000 after purchasing an additional 4,008 shares during the last quarter. Cetera Investment Advisers raised its position in American Tower by 33.7% in the 1st quarter. Cetera Investment Advisers now owns 243,488 shares of the real estate investment trust’s stock valued at $42,021,000 after purchasing an additional 61,421 shares during the last quarter. Finally, Dynamic Wealth Strategies LLC boosted its stake in American Tower by 21.2% during the 1st quarter. Dynamic Wealth Strategies LLC now owns 565 shares of the real estate investment trust’s stock worth $98,000 after purchasing an additional 99 shares during the period. Hedge funds and other institutional investors own 92.69% of the company’s stock.

American Tower Stock Down 0.8%

Shares of American Tower stock opened at $164.72 on Friday. American Tower Corporation has a one year low of $160.06 and a one year high of $234.33. The company has a market cap of $76.74 billion, a P/E ratio of 26.61, a PEG ratio of 0.69 and a beta of 0.91. The company has a debt-to-equity ratio of 3.07, a quick ratio of 0.43 and a current ratio of 0.43. The firm has a fifty day moving average of $176.85 and a two-hundred day moving average of $178.43.

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

American Tower Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 13th. Shareholders of record on Friday, June 12th were issued a $1.79 dividend. This represents a $7.16 dividend on an annualized basis and a yield of 4.3%. The ex-dividend date of this dividend was Friday, June 12th. American Tower’s payout ratio is currently 115.67%.

Insiders Place Their Bets

In other American Tower news, EVP Ruth T. Dowling sold 416 shares of the business’s stock in a transaction that occurred on Wednesday, April 29th. The stock was sold at an average price of $177.54, for a total transaction of $73,856.64. Following the transaction, the executive vice president owned 29,461 shares in the company, valued at approximately $5,230,505.94. The trade was a 1.39% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.08% of the company’s stock.

Analyst Upgrades and Downgrades

AMT has been the topic of several research reports. Weiss Ratings raised shares of American Tower from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, July 14th. Sanford C. Bernstein raised shares of American Tower from a “market perform” rating to an “outperform” rating and set a $207.00 target price for the company in a report on Tuesday, May 19th. Barclays decreased their target price on shares of American Tower from $200.00 to $195.00 and set an “equal weight” rating for the company in a research note on Thursday, April 16th. Wolfe Research raised American Tower from a “peer perform” rating to an “outperform” rating and set a $188.00 price target on the stock in a report on Wednesday, July 8th. Finally, Royal Bank Of Canada upgraded American Tower from a “sector perform” rating to an “outperform” rating and boosted their price target for the company from $195.00 to $205.00 in a research report on Friday, June 26th. One research 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. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $215.57.

About American Tower

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.