7,647 Shares in American Tower Corporation $AMT Acquired by VCI Wealth Management LLC

VCI Wealth Management LLC purchased a new position in American Tower Corporation (NYSE:AMT) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 7,647 shares of the real estate investment trust’s stock, valued at approximately $1,320,000.

Several other institutional investors also recently modified their holdings of AMT. Topsail Wealth Management LLC raised its position in American Tower by 8.2% in the 1st quarter. Topsail Wealth Management LLC now owns 1,393 shares of the real estate investment trust’s stock worth $240,000 after buying an additional 106 shares during the last quarter. Louisiana State Employees Retirement System bought a new stake in shares of American Tower in the first quarter worth approximately $4,125,000. KFG Wealth Management LLC grew its stake in shares of American Tower by 9.0% in the first quarter. KFG Wealth Management LLC now owns 2,233 shares of the real estate investment trust’s stock worth $385,000 after acquiring an additional 184 shares during the period. Silver Oak Securities Incorporated raised its holdings in shares of American Tower by 20.8% during the first quarter. Silver Oak Securities Incorporated now owns 2,730 shares of the real estate investment trust’s stock valued at $471,000 after purchasing an additional 470 shares during the last quarter. Finally, Ritholtz Wealth Management lifted its position in American Tower by 28.2% during the first quarter. Ritholtz Wealth Management now owns 7,622 shares of the real estate investment trust’s stock valued at $1,315,000 after purchasing an additional 1,675 shares during the period. 92.69% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

AMT has been the topic of a number of recent research reports. Jefferies Financial Group increased their target price on American Tower from $209.00 to $210.00 and gave the company a “buy” rating in a report on Tuesday, April 14th. JPMorgan Chase & Co. reduced their price target on shares of American Tower from $245.00 to $240.00 and set an “overweight” rating for the company in a research report on Wednesday, April 29th. Truist Financial increased their price objective on shares of American Tower from $205.00 to $208.00 and gave the stock a “buy” rating in a research note on Thursday, April 30th. Mizuho upgraded shares of American Tower from a “neutral” rating to an “outperform” rating and boosted their target price for the company from $189.00 to $205.00 in a research report on Wednesday, April 15th. Finally, Citizens Jmp reaffirmed a “market outperform” rating and set a $260.00 target price on shares of American Tower in a report on Wednesday, April 29th. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $216.95.

Insiders Place Their Bets

In other news, EVP Ruth T. Dowling sold 416 shares of the stock in a transaction on Wednesday, April 29th. The shares were sold at an average price of $177.54, for a total value of $73,856.64. Following the sale, the executive vice president owned 29,461 shares of the company’s stock, valued at approximately $5,230,505.94. This represents a 1.39% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.08% of the company’s stock.

American Tower Trading Up 4.0%

Shares of American Tower stock opened at $175.41 on Friday. American Tower Corporation has a twelve month low of $165.08 and a twelve month high of $234.33. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 3.07. The business has a 50-day moving average price of $181.20 and a 200-day moving average price of $179.83. The firm has a market cap of $81.72 billion, a price-to-earnings ratio of 28.34, a PEG ratio of 0.70 and a beta of 0.90.

American Tower (NYSE:AMT) last announced its quarterly earnings results on Tuesday, April 28th. The real estate investment trust reported $2.84 earnings per share for the quarter, topping the consensus estimate of $1.60 by $1.24. The company had revenue of $2.74 billion for 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%. American Tower’s quarterly revenue was up 6.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.75 earnings per share. American Tower has set its FY 2026 guidance at 10.900-11.07 EPS. Equities research analysts anticipate that American Tower Corporation will post 10.66 EPS for the current fiscal year.

American Tower Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 13th. Investors of record on Friday, June 12th will be issued a dividend of $1.79 per share. This represents a $7.16 annualized dividend and a yield of 4.1%. The ex-dividend date is Friday, June 12th. American Tower’s dividend payout ratio is presently 115.67%.

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.