West Family Investments Inc. purchased a new stake in American Tower Corporation (NYSE:AMT – Free Report) in the 2nd quarter, HoldingsChannel reports. The fund purchased 2,900 shares of the real estate investment trust’s stock, valued at approximately $474,000.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Operose Advisors LLC acquired a new stake in shares of American Tower in the 2nd quarter valued at about $25,000. Swiss RE Ltd. bought a new position in American Tower in the fourth quarter worth approximately $25,000. Allied Private Wealth LLC bought a new position in American Tower in the second quarter worth approximately $29,000. Triumph Capital Management acquired a new stake in American Tower in the third quarter valued at approximately $29,000. Finally, Acumen Wealth Advisors LLC acquired a new stake in American Tower in the fourth quarter valued at approximately $29,000. Institutional investors own 92.69% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of equities analysts recently issued reports on AMT shares. Wolfe Research upgraded American Tower from a “peer perform” rating to an “outperform” rating and set a $188.00 target price on the stock in a report on Wednesday, July 8th. The Goldman Sachs Group set a $210.00 price objective on shares of American Tower in a report on Tuesday, July 28th. Mizuho set a $208.00 price objective on shares of American Tower in a research note on Thursday, August 20th. TD Cowen lifted their price objective on shares of American Tower from $225.00 to $227.00 and gave the company a “buy” rating in a report on Wednesday, July 29th. Finally, Royal Bank Of Canada upgraded shares of American Tower from a “sector perform” rating to an “outperform” rating and upped their target price for the stock from $195.00 to $205.00 in a report on Friday, June 26th. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, American Tower currently has a consensus rating of “Moderate Buy” and an average price target of $215.29.
Insider Buying and Selling
In related news, EVP Ruth Dowling sold 1,106 shares of the business’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 sale, the executive vice president directly owned 27,711 shares in the company, valued at approximately $4,848,316.56. The trade was a 3.84% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Rajesh Kalathur acquired 2,829 shares of the company’s stock in a transaction on Friday, August 21st. The shares were acquired at an average cost of $177.00 per share, for a total transaction of $500,733.00. Following the completion of the acquisition, the director owned 7,765 shares of the company’s stock, valued at approximately $1,374,405. The trade was a 57.31% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last 90 days, insiders sold 6,791 shares of company stock valued at $1,204,091. 0.08% of the stock is owned by insiders.
American Tower Price Performance
Shares of NYSE:AMT opened at $175.77 on Wednesday. The company has a market capitalization of $81.90 billion, a P/E ratio of 24.18, a price-to-earnings-growth ratio of 2.82 and a beta of 0.89. The company’s 50-day moving average is $171.33 and its 200 day moving average is $177.33. The company has a debt-to-equity ratio of 3.12, a quick ratio of 0.52 and a current ratio of 0.52. American Tower Corporation has a fifty-two week low of $160.06 and a fifty-two week high of $199.13.
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 EPS for the quarter, topping analysts’ consensus estimates of $1.57 by $1.14. The company had revenue of $2.75 billion for the quarter, compared to analysts’ expectations of $2.70 billion. American Tower had a net margin of 31.08% and a return on equity of 32.76%. American Tower’s revenue was up 4.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.60 EPS. American Tower has set its FY 2026 guidance at 11.000-11.170 EPS. On average, equities research analysts forecast that American Tower Corporation will post 10.8 earnings per share for the current year.
About American Tower
American Tower Corporation (NYSE:AMT) is a global owner, operator and developer of wireless communications infrastructure. The company leases space on communications sites, including towers, rooftops and other structures, to wireless carriers, broadcasters, government agencies and other customers. Its infrastructure supports wireless networks and the transmission of voice, data and video services.
In addition to traditional macro towers, American Tower provides distributed antenna systems and other in-building or venue-based communications solutions designed to improve wireless coverage and capacity.
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