Legal & General Group Plc boosted its stake in American Tower Corporation (NYSE:AMT – Free Report) by 0.6% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 4,853,850 shares of the real estate investment trust’s stock after buying an additional 27,929 shares during the period. Legal & General Group Plc’s holdings in American Tower were worth $793,944,000 at the end of the most recent reporting period.
A number of other large investors have also recently bought and sold shares of AMT. Raleigh Capital Management Inc. increased its stake in shares of American Tower by 489.1% in the first quarter. Raleigh Capital Management Inc. now owns 13,703 shares of the real estate investment trust’s stock valued at $2,365,000 after buying an additional 11,377 shares in the last quarter. Canal Capital Management LLC lifted its position in American Tower by 81.9% during the 1st 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 in the last quarter. Bernzott Capital Advisors lifted its position in American Tower by 29.3% during the 1st quarter. Bernzott Capital Advisors now owns 42,161 shares of the real estate investment trust’s stock worth $7,276,000 after buying an additional 9,556 shares in the last quarter. BIP Wealth LLC bought a new stake in American Tower during the 2nd quarter worth about $1,004,000. Finally, Swiss Life Asset Management Ltd increased its position in American Tower by 13.9% in the 4th 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 in the last quarter. 92.69% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
A number of equities analysts have weighed in on the stock. TD Cowen boosted their target price on shares of American Tower from $225.00 to $227.00 and gave the stock a “buy” rating in a research note on Wednesday, July 29th. Scotiabank reissued an “outperform” rating on shares of American Tower in a report on Wednesday, July 29th. Raymond James Financial restated a “strong-buy” rating and issued a $240.00 price objective on shares of American Tower in a research report on Wednesday, April 29th. Jefferies Financial Group reduced their price objective on American Tower from $210.00 to $201.00 and set a “buy” rating on the stock in a report on Wednesday, July 15th. Finally, BMO Capital Markets increased their price objective on American Tower from $190.00 to $195.00 and gave the company a “market perform” rating in a research report on Wednesday, July 29th. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, American Tower currently has a consensus rating of “Moderate Buy” and an average price target of $215.29.
American Tower Stock Up 1.5%
Shares of NYSE:AMT opened at $178.38 on Tuesday. American Tower Corporation has a one year low of $160.06 and a one year high of $211.91. The company has a 50 day moving average of $171.11 and a 200-day moving average of $177.82. The company has a debt-to-equity ratio of 3.12, a current ratio of 0.52 and a quick ratio of 0.52. The stock has a market cap of $83.12 billion, a price-to-earnings ratio of 24.54, a P/E/G ratio of 2.78 and a beta of 0.90.
American Tower (NYSE:AMT – Get Free Report) last announced its quarterly earnings data 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 business had revenue of $2.75 billion for the quarter, compared to analyst estimates of $2.70 billion. During the same period in the prior year, the business posted $2.60 earnings per share. American Tower’s revenue 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, sell-side analysts forecast that American Tower Corporation will post 10.8 earnings per share for the current year.
Insider Buying and Selling at American Tower
In related news, EVP Ruth T. Dowling sold 1,106 shares of the company’s stock in a transaction dated Wednesday, July 29th. The stock was sold at an average price of $174.96, for a total value of $193,505.76. Following the completion of the sale, the executive vice president owned 27,711 shares in the company, valued at approximately $4,848,316.56. This represents a 3.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Robert Joseph Meyer sold 5,000 shares of the 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 directly owned 21,428 shares in the company, valued at $3,833,254.92. The trade was a 18.92% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 6,791 shares of company stock valued at $1,204,091 in the last quarter. Corporate insiders own 0.08% of the company’s stock.
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.
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