Adelante Capital Management LLC Invests $8.53 Million in American Tower Corporation $AMT

Adelante Capital Management LLC bought a new position in American Tower Corporation (NYSE:AMT - Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 52,165 shares of the real estate investment trust's stock, valued at approximately $8,533,000.

Several other large investors also recently added to or reduced their stakes in the company. BlackRock Inc. bought a new stake in American Tower in the second quarter worth approximately $7,490,943,000. J. Stern & Co. LLP boosted its holdings in American Tower by 28,121.1% in the fourth quarter. J. Stern & Co. LLP now owns 37,686,978 shares of the real estate investment trust's stock worth $6,616,703,000 after purchasing an additional 37,553,436 shares in the last quarter. State Street Corp increased its position in American Tower by 0.3% during the fourth quarter. State Street Corp now owns 20,987,534 shares of the real estate investment trust's stock worth $3,719,634,000 after buying an additional 71,605 shares during the last quarter. Geode Capital Management LLC increased its position in American Tower by 1.7% during the fourth quarter. Geode Capital Management LLC now owns 13,499,035 shares of the real estate investment trust's stock worth $2,361,675,000 after buying an additional 227,361 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. lifted its position in shares of American Tower by 20,721.6% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 9,712,672 shares of the real estate investment trust's stock worth $1,705,254,000 after buying an additional 9,666,025 shares during the last quarter. 92.69% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Mizuho set a $208.00 target price on American Tower in a research report on Thursday, August 20th. Truist Financial reaffirmed a "buy" rating and set a $207.00 price objective (down from $208.00) on shares of American Tower in a report on Wednesday, August 12th. 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 report on Wednesday, July 29th. Weiss Ratings upgraded shares of American Tower from a "hold (c-)" rating to a "hold (c)" rating in a report on Tuesday, July 14th. Finally, Royal Bank Of Canada upgraded American Tower from a "sector perform" rating to an "outperform" rating and lifted their price objective for the stock from $195.00 to $205.00 in a research note on Friday, June 26th. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat.com, American Tower currently has an average rating of "Moderate Buy" and an average target price of $215.29.

Insider Activity

In other American Tower news, Director Rajesh Kalathur bought 2,829 shares of the stock in a transaction on Friday, August 21st. The stock was purchased at an average price of $177.00 per share, with a total value of $500,733.00. Following 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 purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Ruth T. Dowling sold 1,106 shares of the company's stock in a transaction dated Wednesday, July 29th. The shares were 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 of the company's stock, valued at $4,848,316.56. This represents a 3.84% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 6,791 shares of company stock valued at $1,204,091. Company insiders own 0.08% of the company's stock.

American Tower Stock Performance

NYSE:AMT opened at $175.78 on Thursday. The stock has a market capitalization of $81.91 billion, a P/E ratio of 24.18, a price-to-earnings-growth ratio of 2.83 and a beta of 0.90. 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 1 year low of $160.06 and a 1 year high of $208.03. The firm has a 50 day moving average of $170.89 and a 200-day moving average of $177.86.

American Tower (NYSE:AMT - Get Free Report) last released its quarterly earnings results on Tuesday, July 28th. The real estate investment trust reported $2.71 earnings per share (EPS) 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 during the quarter, compared to analysts' expectations of $2.70 billion. During the same period in the previous year, the business posted $2.60 earnings per share. The firm'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. As a group, sell-side analysts anticipate that American Tower Corporation will post 10.8 EPS for the current fiscal year.

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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