Royal London Asset Management Ltd. lowered its holdings in American Tower Corporation (NYSE:AMT – Free Report) by 11.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 207,710 shares of the real estate investment trust’s stock after selling 27,180 shares during the period. Royal London Asset Management Ltd.’s holdings in American Tower were worth $33,975,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Mufg Securities Americas Inc. boosted its stake in shares of American Tower by 8.3% during the 2nd quarter. Mufg Securities Americas Inc. now owns 14,033 shares of the real estate investment trust’s stock worth $2,295,000 after buying an additional 1,079 shares during the last quarter. Van ECK Associates Corp increased its position in shares of American Tower by 7.3% in the second quarter. Van ECK Associates Corp now owns 203,505 shares of the real estate investment trust’s stock valued at $33,287,000 after acquiring an additional 13,875 shares during the last quarter. Ferguson Wellman Capital Management Inc. increased its position in shares of American Tower by 9.2% in the second quarter. Ferguson Wellman Capital Management Inc. now owns 5,456 shares of the real estate investment trust’s stock valued at $892,000 after acquiring an additional 458 shares during the last quarter. Nissay Asset Management Corp Japan raised its holdings in American Tower by 5.4% during the second quarter. Nissay Asset Management Corp Japan now owns 117,683 shares of the real estate investment trust’s stock worth $19,249,000 after acquiring an additional 6,077 shares in the last quarter. Finally, Hsbc Holdings PLC boosted its position in American Tower by 13.9% during the second quarter. Hsbc Holdings PLC now owns 1,821,488 shares of the real estate investment trust’s stock valued at $298,797,000 after purchasing an additional 222,411 shares during the last quarter. 92.69% of the stock is owned by institutional investors.
Analysts Set New Price Targets
AMT has been the subject of a number of analyst reports. The Goldman Sachs Group set a $210.00 price target on American Tower in a research note on Tuesday, July 28th. Royal Bank Of Canada raised American Tower from a “sector perform” rating to an “outperform” rating and increased their price objective for the company from $195.00 to $205.00 in a report on Friday, June 26th. BMO Capital Markets raised their target price on shares of American Tower from $190.00 to $195.00 and gave the company a “market perform” rating in a research note on Wednesday, July 29th. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $214.00 price target on shares of American Tower in a research report on Wednesday, July 29th. Finally, Wolfe Research upgraded shares of 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. 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. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $215.29.
American Tower Stock Performance
Shares of NYSE AMT opened at $176.25 on Friday. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 3.12. American Tower Corporation has a 12 month low of $160.06 and a 12 month high of $205.21. The stock has a 50 day moving average of $170.87 and a 200-day moving average of $177.87. The company has a market capitalization of $82.13 billion, a P/E ratio of 24.24, a P/E/G ratio of 2.79 and a beta of 0.90.
American Tower (NYSE:AMT – Get Free Report) last posted its quarterly earnings results on Tuesday, July 28th. The real estate investment trust reported $2.71 earnings per share for the quarter, beating analysts’ consensus estimates of $1.57 by $1.14. American Tower had a return on equity of 32.76% and a net margin of 31.08%.The business had revenue of $2.75 billion for the quarter, compared to analysts’ expectations of $2.70 billion. During the same quarter in the prior year, the business earned $2.60 EPS. The firm’s revenue for the quarter was up 4.6% on a year-over-year basis. American Tower has set its FY 2026 guidance at 11.000-11.170 EPS. As a group, equities research analysts predict that American Tower Corporation will post 10.8 EPS for the current 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 dated 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. The trade was a 3.84% decrease in their position. The sale was disclosed in a filing with the SEC, 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 stock in a transaction dated Wednesday, July 29th. The shares were sold at an average price of $178.89, for a total transaction of $894,450.00. Following the completion of the transaction, the chief financial officer directly owned 21,428 shares in the company, valued at approximately $3,833,254.92. This represents a 18.92% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 6,791 shares of company stock worth $1,204,091 over the last ninety days. 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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