Elevation Point Wealth Partners LLC Acquires 4,245 Shares of American Tower Corporation $AMT

Elevation Point Wealth Partners LLC boosted its holdings in shares of American Tower Corporation (NYSE:AMT) by 1,448.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,538 shares of the real estate investment trust’s stock after buying an additional 4,245 shares during the quarter. Elevation Point Wealth Partners LLC’s holdings in American Tower were worth $880,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Abound Wealth Management lifted its holdings in American Tower by 137.3% during the 3rd quarter. Abound Wealth Management now owns 140 shares of the real estate investment trust’s stock valued at $27,000 after purchasing an additional 81 shares during the last quarter. Root Financial Partners LLC bought a new position in shares of American Tower in the third quarter valued at about $32,000. Physician Wealth Advisors Inc. lifted its stake in shares of American Tower by 85.9% during the 3rd quarter. Physician Wealth Advisors Inc. now owns 171 shares of the real estate investment trust’s stock worth $33,000 after buying an additional 79 shares during the last quarter. Westside Investment Management Inc. lifted its stake in shares of American Tower by 103.6% during the 3rd quarter. Westside Investment Management Inc. now owns 169 shares of the real estate investment trust’s stock worth $33,000 after buying an additional 86 shares during the last quarter. Finally, VSM Wealth Advisory LLC boosted its holdings in shares of American Tower by 136.4% during the 2nd quarter. VSM Wealth Advisory LLC now owns 156 shares of the real estate investment trust’s stock worth $34,000 after buying an additional 90 shares during the period. Institutional investors own 92.69% of the company’s stock.

American Tower Stock Performance

NYSE AMT opened at $184.54 on Tuesday. The firm has a 50-day moving average price of $181.59 and a two-hundred day moving average price of $183.82. American Tower Corporation has a 12-month low of $166.88 and a 12-month high of $234.33. The company has a market capitalization of $86.01 billion, a P/E ratio of 34.24, a P/E/G ratio of 0.77 and a beta of 0.92. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 3.27.

American Tower (NYSE:AMT) last announced its earnings results on Tuesday, February 24th. The real estate investment trust reported $1.75 EPS for the quarter, missing the consensus estimate of $2.54 by ($0.79). American Tower had a return on equity of 24.36% and a net margin of 23.76%.The business had revenue of $2.74 billion for the quarter, compared to the consensus estimate of $2.69 billion. During the same period in the prior year, the business posted $2.62 earnings per share. The firm’s revenue for the quarter was up 7.5% compared to the same quarter last year. American Tower has set its FY 2026 guidance at 10.780-10.950 EPS. Analysts anticipate that American Tower Corporation will post 10.14 earnings per share for the current year.

American Tower Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 28th. Shareholders of record on Tuesday, April 14th will be paid a dividend of $1.79 per share. This is a boost from American Tower’s previous quarterly dividend of $1.70. The ex-dividend date is Tuesday, April 14th. This represents a $7.16 dividend on an annualized basis and a yield of 3.9%. American Tower’s dividend payout ratio is 126.16%.

Insider Buying and Selling at American Tower

In other news, COO Eugene M. Noel sold 41,209 shares of the stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $191.05, for a total transaction of $7,872,979.45. Following the sale, the chief operating officer directly owned 29,592 shares of the company’s stock, valued at approximately $5,653,551.60. This represents a 58.20% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Rajesh Kalathur purchased 2,671 shares of the firm’s stock in a transaction that occurred on Tuesday, March 10th. The stock was bought at an average price of $185.30 per share, for a total transaction of $494,936.30. Following the transaction, the director directly owned 4,936 shares of the company’s stock, valued at $914,640.80. This trade represents a 117.92% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 0.18% of the stock is owned by insiders.

Analyst Ratings Changes

Several research firms have weighed in on AMT. Barclays reissued an “equal weight” rating and issued a $200.00 price target (down from $203.00) on shares of American Tower in a report on Monday, December 1st. Mizuho reduced their price objective on American Tower from $217.00 to $189.00 and set a “neutral” rating for the company in a report on Monday, January 12th. Scotiabank lowered their target price on American Tower from $220.00 to $214.00 and set a “sector outperform” rating on the stock in a research note on Wednesday, February 25th. New Street Research raised American Tower from a “neutral” rating to a “buy” rating and set a $203.00 price target for the company in a report on Monday, January 5th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of American Tower in a research note on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $217.35.

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.