Clearstead Trust LLC Takes $1.83 Million Position in American Tower Corporation $AMT

Clearstead Trust LLC acquired a new position in shares of American Tower Corporation (NYSE:AMT) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 11,171 shares of the real estate investment trust’s stock, valued at approximately $1,827,000.

Several other large investors have also added to or reduced their stakes in AMT. Riverwater Partners LLC increased its position in shares of American Tower by 3.8% during the fourth quarter. Riverwater Partners LLC now owns 1,536 shares of the real estate investment trust’s stock valued at $270,000 after buying an additional 56 shares during the period. Triumph Capital Management raised its position in shares of American Tower by 37.3% during the 4th quarter. Triumph Capital Management now owns 206 shares of the real estate investment trust’s stock valued at $36,000 after buying an additional 56 shares in the last quarter. Twin City Private Wealth LLC raised its position in American Tower by 0.7% during the fourth quarter. Twin City Private Wealth LLC now owns 7,799 shares of the real estate investment trust’s stock valued at $1,382,000 after purchasing an additional 58 shares in the last quarter. Asset Advisory Group Inc. lifted its stake in American Tower by 3.0% during the first quarter. Asset Advisory Group Inc. now owns 2,072 shares of the real estate investment trust’s stock worth $358,000 after purchasing an additional 60 shares during the last quarter. Finally, Argent Advisors Inc. lifted its stake in American Tower by 0.9% during the fourth quarter. Argent Advisors Inc. now owns 6,625 shares of the real estate investment trust’s stock worth $1,163,000 after purchasing an additional 61 shares during the last quarter. Institutional investors own 92.69% of the company’s stock.

Insider Transactions at American Tower

In other American Tower news, CFO Robert Joseph Meyer sold 5,000 shares of the company’s stock in a transaction that occurred 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 transaction, the chief financial officer owned 21,428 shares of the company’s stock, valued at $3,833,254.92. This represents a 18.92% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Ruth T. Dowling sold 1,106 shares of American Tower stock in a transaction that occurred on Wednesday, July 29th. The stock was 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 approximately $4,848,316.56. This represents a 3.84% decrease in their ownership of the stock. 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 90 days, insiders have sold 6,791 shares of company stock worth $1,204,091. 0.08% of the stock is owned by company insiders.

American Tower Price Performance

AMT opened at $175.68 on Friday. The company has a debt-to-equity ratio of 3.12, a current ratio of 0.52 and a quick ratio of 0.52. The stock’s 50 day simple moving average is $172.82 and its 200 day simple moving average is $177.94. The firm has a market cap of $81.86 billion, a price-to-earnings ratio of 24.17, a PEG ratio of 2.79 and a beta of 0.90. American Tower Corporation has a 1 year low of $160.06 and a 1 year high of $214.79.

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 the consensus estimate of $1.57 by $1.14. American Tower had a net margin of 31.08% and a return on equity of 32.76%. The company had revenue of $2.75 billion for the quarter, compared to the consensus estimate of $2.70 billion. During the same period in the previous year, the firm earned $2.60 earnings per share. The firm’s revenue for the quarter was up 4.6% on a year-over-year basis. American Tower has set its FY 2026 guidance at 11.000-11.170 EPS. As a group, analysts predict that American Tower Corporation will post 10.78 earnings per share for the current year.

American Tower Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, July 13th. Investors of record on Friday, June 12th were paid a $1.79 dividend. The ex-dividend date of this dividend was Friday, June 12th. This represents a $7.16 annualized dividend and a dividend yield of 4.1%. American Tower’s dividend payout ratio (DPR) is presently 98.49%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Jefferies Financial Group reduced their price objective on American Tower from $210.00 to $201.00 and set a “buy” rating on the stock in a research report on Wednesday, July 15th. BMO Capital Markets lifted their price target on shares of American Tower from $190.00 to $195.00 and gave the stock a “market perform” rating in a research note on Wednesday, July 29th. TD Cowen boosted their price objective on shares of American Tower from $225.00 to $227.00 and gave the stock a “buy” rating in a report on Wednesday, July 29th. Royal Bank Of Canada raised shares of American Tower from a “sector perform” rating to an “outperform” rating and upped their price objective for the company from $195.00 to $205.00 in a research note on Friday, June 26th. Finally, 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. One 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’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $215.14.

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.