Cibc World Market Inc. increased its stake in American Tower Corporation (NYSE:AMT – Free Report) by 59.6% during the second quarter, HoldingsChannel.com reports. The fund owned 337,290 shares of the real estate investment trust’s stock after buying an additional 125,950 shares during the period. Cibc World Market Inc.’s holdings in American Tower were worth $55,171,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently modified their holdings of the company. Raleigh Capital Management Inc. raised its holdings in American Tower by 489.1% during the 1st quarter. Raleigh Capital Management Inc. now owns 13,703 shares of the real estate investment trust’s stock worth $2,365,000 after buying an additional 11,377 shares during the period. Canal Capital Management LLC boosted its holdings in shares of American Tower by 81.9% in the first quarter. Canal Capital Management LLC now owns 34,471 shares of the real estate investment trust’s stock worth $5,949,000 after buying an additional 15,520 shares during the period. Bernzott Capital Advisors increased its position in shares of American Tower by 29.3% in the first quarter. Bernzott Capital Advisors now owns 42,161 shares of the real estate investment trust’s stock worth $7,276,000 after acquiring an additional 9,556 shares in the last quarter. Legal & General Group Plc raised its holdings in shares of American Tower by 4.7% during the fourth quarter. Legal & General Group Plc now owns 4,873,695 shares of the real estate investment trust’s stock valued at $855,675,000 after acquiring an additional 220,447 shares during the period. Finally, Swiss Life Asset Management Ltd raised its holdings in shares of American Tower by 13.9% during the fourth quarter. Swiss Life Asset Management Ltd now owns 101,993 shares of the real estate investment trust’s stock valued at $17,907,000 after acquiring an additional 12,464 shares during the period. 92.69% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of equities analysts recently commented on AMT shares. Scotiabank reaffirmed an “outperform” rating on shares of American Tower in a research note on Wednesday, July 29th. Wolfe Research raised shares of American Tower from a “peer perform” rating to an “outperform” rating and set a $188.00 target price on the stock in a research note on Wednesday, July 8th. Jefferies Financial Group reduced their target price on American Tower from $210.00 to $201.00 and set a “buy” rating for the company in a report on Wednesday, July 15th. BMO Capital Markets raised 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. Finally, Citizens Jmp reiterated a “market outperform” rating and set a $260.00 price target on shares of American Tower in a report on Wednesday, April 29th. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $215.29.
American Tower Stock Performance
Shares of AMT opened at $176.36 on Monday. The company has a market capitalization of $82.18 billion, a PE ratio of 24.26, a PEG ratio of 2.78 and a beta of 0.90. The company has a debt-to-equity ratio of 3.12, a quick ratio of 0.52 and a current ratio of 0.52. The company’s 50 day moving average price is $171.26 and its 200 day moving average price is $177.78. American Tower Corporation has a 52 week low of $160.06 and a 52 week high of $214.79.
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 (EPS) for the quarter, topping analysts’ consensus estimates of $1.57 by $1.14. The company had revenue of $2.75 billion during the quarter, compared to the consensus estimate of $2.70 billion. American Tower had a net margin of 31.08% and a return on equity of 32.76%. The company’s revenue was up 4.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.60 EPS. American Tower has set its FY 2026 guidance at 11.000-11.170 EPS. Research analysts expect that American Tower Corporation will post 10.8 EPS for the current fiscal year.
Insider Buying and Selling at American Tower
In related news, EVP Ruth T. Dowling sold 1,106 shares of American Tower stock in a transaction on Wednesday, July 29th. The stock was 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Robert Joseph Meyer sold 5,000 shares of the business’s stock in a transaction dated Wednesday, July 29th. The shares were sold at an average price of $178.89, for a total value of $894,450.00. Following the completion of the transaction, the chief financial officer owned 21,428 shares in the company, valued at $3,833,254.92. This trade represents a 18.92% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 6,791 shares of company stock valued at $1,204,091. 0.08% of the stock is owned by corporate insiders.
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.
Featured Articles
- Five stocks we like better than American Tower
- VIG, VYM, and VYMI: Which Vanguard Dividend ETF Is Right for You?
- 3 Closed-End Funds to Maximize Dividend Payments
- Rocket Lab’s Sell-Off Is Fading—Is It Finally Safe to Buy?
- $27 Billion in Buybacks: 3 Stocks Betting Their Strong Runs Aren’t Over
Want to see what other hedge funds are holding AMT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for American Tower Corporation (NYSE:AMT – Free Report).
Receive News & Ratings for American Tower Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for American Tower and related companies with MarketBeat.com's FREE daily email newsletter.
