Sanctuary Advisors LLC reduced its stake in shares of American Tower Corporation (NYSE:AMT – Free Report) by 5.2% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 57,761 shares of the real estate investment trust’s stock after selling 3,171 shares during the period. Sanctuary Advisors LLC’s holdings in American Tower were worth $9,448,000 at the end of the most recent quarter.
A number of other large investors have also recently made changes to their positions in AMT. Raleigh Capital Management Inc. raised its position 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 last quarter. Canal Capital Management LLC boosted its holdings in shares of American Tower by 81.9% in the 1st quarter. Canal Capital Management LLC now owns 34,471 shares of the real estate investment trust’s stock valued at $5,949,000 after acquiring an additional 15,520 shares during the last quarter. Bernzott Capital Advisors boosted its holdings in shares of American Tower by 29.3% in the 1st quarter. Bernzott Capital Advisors now owns 42,161 shares of the real estate investment trust’s stock valued at $7,276,000 after acquiring an additional 9,556 shares during the last quarter. Legal & General Group Plc increased its stake in shares of American Tower by 4.7% in the fourth quarter. Legal & General Group Plc now owns 4,873,695 shares of the real estate investment trust’s stock worth $855,675,000 after acquiring an additional 220,447 shares during the period. Finally, BIP Wealth LLC acquired a new stake in shares of American Tower in the second quarter worth $1,004,000. 92.69% of the stock is owned by hedge funds and other institutional investors.
Insider Activity at American Tower
In other news, EVP Ruth T. Dowling sold 1,106 shares of the firm’s 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 transaction, the executive vice president owned 27,711 shares in the company, valued at $4,848,316.56. This trade represents a 3.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available 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 American Tower 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 completion of the sale, the chief financial officer directly owned 21,428 shares in the company, valued at $3,833,254.92. This 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 quarter, insiders have sold 6,791 shares of company stock valued at $1,204,091. 0.08% of the stock is owned by company insiders.
American Tower Stock Up 1.5%
American Tower (NYSE:AMT – Get Free Report) last released its 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 business had revenue of $2.75 billion during 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%. The company’s quarterly revenue was up 4.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.60 earnings per share. American Tower has set its FY 2026 guidance at 11.000-11.170 EPS. Equities analysts predict that American Tower Corporation will post 10.8 EPS for the current fiscal year.
Analyst Upgrades and Downgrades
Several equities research analysts have commented on AMT shares. Truist Financial reaffirmed 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. Weiss Ratings raised American Tower from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, July 14th. Royal Bank Of Canada upgraded 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 research note on Friday, June 26th. Scotiabank restated an “outperform” rating on shares of American Tower in a research note on Wednesday, July 29th. Finally, JPMorgan Chase & Co. dropped their target price on American Tower from $245.00 to $240.00 and set an “overweight” rating on the stock in a report on Wednesday, April 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 company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $215.29.
Read Our Latest Stock Report on AMT
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.
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