Portside Wealth Group LLC Has $1.64 Million Stock Holdings in American Tower Corporation $AMT

Portside Wealth Group LLC lifted its stake in shares of American Tower Corporation (NYSE:AMT) by 47.8% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 9,357 shares of the real estate investment trust’s stock after buying an additional 3,026 shares during the quarter. Portside Wealth Group LLC’s holdings in American Tower were worth $1,643,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. 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 worth $27,000 after purchasing an additional 81 shares during the last quarter. Holos Integrated Wealth LLC acquired a new stake in American Tower during the 4th quarter worth approximately $27,000. Triumph Capital Management acquired a new stake in American Tower during the 3rd quarter worth approximately $29,000. Root Financial Partners LLC acquired a new stake in American Tower during the 3rd quarter worth approximately $32,000. Finally, Physician Wealth Advisors Inc. lifted its holdings in 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 purchasing an additional 79 shares during the last quarter. 92.69% of the stock is owned by institutional investors and hedge funds.

American Tower Price Performance

Shares of NYSE AMT opened at $176.20 on Tuesday. The stock has a market capitalization of $82.12 billion, a PE ratio of 32.69, a P/E/G ratio of 0.73 and a beta of 0.92. The company has a debt-to-equity ratio of 3.27, a current ratio of 0.60 and a quick ratio of 0.60. The business has a fifty day moving average price of $180.95 and a two-hundred day moving average price of $181.48. American Tower Corporation has a fifty-two week low of $165.08 and a fifty-two week high of $234.33.

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

American Tower Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 28th. Stockholders of record on Tuesday, April 14th will be given a $1.79 dividend. This represents a $7.16 annualized dividend and a dividend yield of 4.1%. The ex-dividend date is Tuesday, April 14th. This is a boost from American Tower’s previous quarterly dividend of $1.70. American Tower’s dividend payout ratio is presently 126.16%.

Insider Activity at American Tower

In other news, Director Rajesh Kalathur bought 2,671 shares of the company’s stock in a transaction dated Tuesday, March 10th. The stock was bought at an average cost of $185.30 per share, for a total transaction of $494,936.30. Following the transaction, the director owned 4,936 shares of the company’s stock, valued at $914,640.80. This represents a 117.92% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Eugene M. Noel sold 41,209 shares of the business’s stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $191.05, for a total transaction of $7,872,979.45. Following the completion of the transaction, the chief operating officer owned 29,592 shares of the company’s stock, valued at $5,653,551.60. The trade was a 58.20% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.17% of the stock is currently owned by insiders.

Analysts Set New Price Targets

AMT has been the subject of several research reports. TD Cowen dropped their price target on American Tower from $235.00 to $225.00 in a report on Wednesday, February 25th. Jefferies Financial Group lifted their price objective on shares of American Tower from $200.00 to $209.00 and gave the stock a “buy” rating in a research note on Thursday, February 26th. UBS Group dropped their price objective on shares of American Tower from $254.00 to $248.00 and set a “buy” rating for the company in a research note on Wednesday, February 25th. JPMorgan Chase & Co. dropped their price objective on shares of American Tower from $250.00 to $245.00 and set an “overweight” rating for the company in a research note on Monday, January 12th. Finally, BMO Capital Markets lifted their price objective on shares of American Tower from $185.00 to $200.00 and gave the stock a “market perform” rating in a research note on Wednesday, February 25th. Two research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat, American Tower currently has an average rating of “Moderate Buy” and an average target price of $216.76.

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.