OMERS ADMINISTRATION Corp increased its position in American Tower Corporation (NYSE:AMT – Free Report) by 716.8% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 176,998 shares of the real estate investment trust’s stock after acquiring an additional 155,327 shares during the quarter. OMERS ADMINISTRATION Corp’s holdings in American Tower were worth $28,952,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Oakworth Capital Inc. boosted its position in shares of American Tower by 90.7% in the fourth quarter. Oakworth Capital Inc. now owns 143 shares of the real estate investment trust’s stock worth $25,000 after purchasing an additional 68 shares during the period. Swiss RE Ltd. bought a new stake in shares of American Tower during the 4th quarter valued at $25,000. Allied Private Wealth LLC bought a new stake in shares of American Tower during the 2nd quarter valued at $29,000. Triumph Capital Management purchased a new position in shares of American Tower during the 3rd quarter valued at $29,000. Finally, Acumen Wealth Advisors LLC bought a new position in American Tower in the 4th quarter worth $29,000. Institutional investors own 92.69% of the company’s stock.
Insider Buying and Selling
In other American Tower news, EVP Ruth T. Dowling sold 1,106 shares of American Tower stock in a transaction that occurred on Wednesday, July 29th. The stock was sold at an average price of $174.96, for a total value of $193,505.76. Following the sale, the executive vice president owned 27,711 shares of the company’s stock, valued at $4,848,316.56. The trade was a 3.84% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available 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 company’s stock in a transaction that occurred on Wednesday, July 29th. The stock was sold at an average price of $178.89, for a total value of $894,450.00. Following the sale, the chief financial officer directly owned 21,428 shares in the company, valued at $3,833,254.92. This trade represents a 18.92% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 6,791 shares of company stock valued at $1,204,091. 0.08% of the stock is owned by corporate insiders.
American Tower Stock Performance
American Tower (NYSE:AMT – Get Free Report) last released its quarterly earnings data on Tuesday, July 28th. The real estate investment trust reported $2.71 EPS for the quarter, beating the consensus estimate of $1.57 by $1.14. The business 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 business’s revenue was up 4.6% on a year-over-year basis. 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. As a group, analysts anticipate that American Tower Corporation will post 10.8 EPS for the current fiscal year.
Analysts Set New Price Targets
A number of equities research analysts have issued reports on the company. Wolfe Research upgraded American Tower from a “peer perform” rating to an “outperform” rating and set a $188.00 price target for the company in a research note on Wednesday, July 8th. Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $214.00 price objective on shares of American Tower in a research note on Wednesday, July 29th. Mizuho set a $208.00 target price on American Tower in a research report on Thursday. Raymond James Financial reissued a “strong-buy” rating and set a $240.00 target price on shares of American Tower in a research note on Wednesday, April 29th. Finally, Truist Financial reissued a “buy” rating and issued a $207.00 price target (down from $208.00) on shares of American Tower in a report on Wednesday, August 12th. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $215.29.
Read Our Latest Report on American Tower
American Tower 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.
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