American Tower Corporation (NYSE:AMT – Get Free Report) has been given a consensus rating of “Moderate Buy” by the twenty ratings firms that are currently covering the stock, Marketbeat reports. Three analysts have rated the stock with a hold recommendation, sixteen have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year target price among brokers that have covered the stock in the last year is $215.1429.
AMT has been the topic of a number of research analyst reports. Sanford C. Bernstein reiterated an “outperform” rating and set a $214.00 price objective on shares of American Tower in a research note on Wednesday, July 29th. Truist Financial reiterated a “buy” rating and set a $207.00 price objective (down from $208.00) on shares of American Tower in a research report on Wednesday, August 12th. BMO Capital Markets boosted their target price on American Tower from $190.00 to $195.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 29th. 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. Finally, TD Cowen increased their price target on American Tower from $225.00 to $227.00 and gave the company a “buy” rating in a research report on Wednesday, July 29th.
Read Our Latest Report on American Tower
American Tower Stock Performance
American Tower (NYSE:AMT – Get Free Report) last released its earnings results on Tuesday, July 28th. The real estate investment trust reported $2.71 earnings per share for the quarter, beating 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 firm had revenue of $2.75 billion during the quarter, compared to analyst estimates of $2.70 billion. During the same quarter in the previous year, the firm earned $2.60 earnings per share. The firm’s revenue for the quarter was up 4.6% compared to the same quarter last year. American Tower has set its FY 2026 guidance at 11.000-11.170 EPS. On average, research analysts anticipate that American Tower will post 10.78 earnings per share for the current fiscal year.
Insider Transactions at American Tower
In other news, CFO Robert Joseph Meyer sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 29th. The shares were sold at an average price of $178.89, for a total transaction of $894,450.00. Following the sale, the chief financial officer owned 21,428 shares in the company, valued at $3,833,254.92. The trade was a 18.92% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Ruth T. Dowling sold 1,106 shares of the company’s stock in a transaction that occurred on Wednesday, July 29th. The shares were sold at an average price of $174.96, for a total transaction of $193,505.76. Following the completion of the sale, the executive vice president owned 27,711 shares of the company’s stock, valued at approximately $4,848,316.56. This trade represents a 3.84% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 6,791 shares of company stock valued at $1,204,091 over the last ninety days. Insiders own 0.08% of the company’s stock.
Institutional Trading of American Tower
A number of hedge funds have recently modified their holdings of the business. Brighton Jones LLC boosted its position in American Tower by 113.0% during the fourth quarter. Brighton Jones LLC now owns 3,966 shares of the real estate investment trust’s stock valued at $727,000 after purchasing an additional 2,104 shares during the last quarter. Sivia Capital Partners LLC grew its stake in American Tower by 34.3% in the 2nd quarter. Sivia Capital Partners LLC now owns 1,442 shares of the real estate investment trust’s stock valued at $319,000 after buying an additional 368 shares during the last quarter. United Bank increased its stake in shares of American Tower by 12.7% in the second quarter. United Bank now owns 6,488 shares of the real estate investment trust’s stock worth $1,434,000 after purchasing an additional 733 shares during the period. Treasurer of the State of North Carolina boosted its position in shares of American Tower by 2.2% in the second quarter. Treasurer of the State of North Carolina now owns 218,511 shares of the real estate investment trust’s stock valued at $48,295,000 after acquiring an additional 4,778 shares during the period. Finally, Ieq Capital LLC grew its position in American Tower by 52.2% in the 2nd quarter. Ieq Capital LLC now owns 34,248 shares of the real estate investment trust’s stock worth $7,570,000 after purchasing an additional 11,751 shares during the last quarter. Hedge funds and other institutional investors own 92.69% of the company’s stock.
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.
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