56,539 Shares in American Tower Corporation $AMT Acquired by Jupiter Topco LLC

Key Points

• Jupiter Topco LLC acquired 56,539 American Tower shares in the second quarter, valued at approximately $9.25 million. Institutional investors collectively own 92.69% of the REIT’s stock.
• American Tower reported quarterly EPS of $2.71, beating estimates of $1.57, while revenue rose 4.6% year over year to $2.75 billion. Shares opened at $176.25, below the consensus analyst target of $215.29.
• Analysts maintain a generally positive outlook, with the stock carrying a “Moderate Buy” consensus rating. Meanwhile, company insiders sold 6,791 shares worth about $1.2 million over the past 90 days.

Jupiter Topco LLC bought a new position in American Tower Corporation (NYSE:AMT - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 56,539 shares of the real estate investment trust's stock, valued at approximately $9,246,000.

A number of other large investors also recently made changes to their positions in the business. Swiss RE Ltd. acquired a new position in American Tower in the fourth quarter valued at $25,000. Allied Private Wealth LLC acquired a new stake in American Tower in the 2nd quarter worth about $29,000. Triumph Capital Management purchased a new stake in American Tower in the 3rd quarter valued at about $29,000. Acumen Wealth Advisors LLC purchased a new stake in American Tower in the 4th quarter valued at about $29,000. Finally, Lloyd Advisory Services LLC. acquired a new position in shares of American Tower during the 4th quarter valued at about $30,000. Hedge funds and other institutional investors own 92.69% of the company's stock.

American Tower Stock Up 0.0%

Shares of NYSE:AMT opened at $176.25 on Monday. The stock has a 50-day simple moving average of $170.87 and a 200-day simple moving average of $177.90. The stock has a market capitalization of $82.13 billion, a P/E ratio of 24.24, a PEG ratio of 2.79 and a beta of 0.90. American Tower Corporation has a 1 year low of $160.06 and a 1 year high of $205.21. 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 (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, 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 firm had revenue of $2.75 billion for the quarter, compared to analyst estimates of $2.70 billion. During the same quarter last year, the firm posted $2.60 earnings per share. American Tower's revenue for the quarter 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. Equities analysts forecast that American Tower Corporation will post 10.8 earnings per share for the current year.

Analyst Upgrades and Downgrades

AMT has been the topic of several research analyst reports. Royal Bank Of Canada raised shares of American Tower from a "sector perform" rating to an "outperform" rating and raised their target price for the stock from $195.00 to $205.00 in a research report on Friday, June 26th. Wolfe Research raised shares of American Tower from a "peer perform" rating to an "outperform" rating and set a $188.00 price target on the stock in a research note on Wednesday, July 8th. Truist Financial reiterated 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. Jefferies Financial Group lowered their price objective on shares of American Tower from $210.00 to $201.00 and set a "buy" rating for the company in a research note on Wednesday, July 15th. Finally, BMO Capital Markets upped their price objective on American Tower from $190.00 to $195.00 and gave the stock a "market perform" rating in a report on Wednesday, July 29th. 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 company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $215.29.

Insider Activity

In related news, EVP Ruth T. Dowling sold 1,106 shares of American Tower stock in a transaction on Wednesday, July 29th. The shares were sold at an average price of $174.96, for a total transaction of $193,505.76. Following the transaction, the executive vice president 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 transaction was disclosed in a legal filing 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 business's stock in a transaction dated Wednesday, July 29th. The stock was sold at an average price of $178.89, for a total value of $894,450.00. Following the transaction, the chief financial officer owned 21,428 shares in the company, valued at approximately $3,833,254.92. This represents a 18.92% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 6,791 shares of company stock valued at $1,204,091. Company insiders own 0.08% of the company's stock.

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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