Allworth Financial LP Has $7.66 Million Position in American Tower Corporation $AMT

Key Points

• Allworth Financial reduced its American Tower position by 27% in the second quarter, selling 17,323 shares and retaining 46,849 shares valued at approximately $7.66 million.
• Institutional investors own 92.69% of American Tower, while analysts maintain a broadly positive outlook with a consensus “Moderate Buy” rating and a $215.29 price target.
• American Tower exceeded quarterly earnings expectations, reporting $2.71 in earnings per share and $2.75 billion in revenue, with revenue up 4.6% year over year.

Allworth Financial LP cut its position in shares of American Tower Corporation (NYSE:AMT - Free Report) by 27.0% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 46,849 shares of the real estate investment trust's stock after selling 17,323 shares during the quarter. Allworth Financial LP's holdings in American Tower were worth $7,663,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. BlackRock Inc. acquired a new stake in American Tower in the 2nd quarter valued at $7,490,943,000. J. Stern & Co. LLP raised its stake in shares of American Tower by 28,121.1% during the 4th 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. Northwestern Mutual Wealth Management Co. raised its stake in shares of American Tower by 20,721.6% during the 4th 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 purchasing an additional 9,666,025 shares in the last quarter. Deutsche Bank AG acquired a new stake in shares of American Tower in the 2nd quarter valued at approximately $1,096,186,000. Finally, Norges Bank bought a new position in shares of American Tower in the fourth quarter valued at $1,171,180,000. Institutional investors and hedge funds own 92.69% of the company's stock.

Wall Street Analysts Forecast Growth

AMT has been the subject of a number of analyst reports. Citizens Jmp reissued a "market outperform" rating and issued a $260.00 price objective on shares of American Tower in a research report on Wednesday, April 29th. Sanford C. Bernstein reaffirmed an "outperform" rating and issued a $214.00 target price on shares of American Tower in a report on Wednesday, July 29th. Jefferies Financial Group reduced their price target on American Tower from $210.00 to $201.00 and set a "buy" rating for the company in a report on Wednesday, July 15th. JPMorgan Chase & Co. decreased 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. Finally, The Goldman Sachs Group set a $210.00 price target on shares of American Tower in a research note on Tuesday, July 28th. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $215.29.

American Tower Stock Performance

NYSE AMT opened at $175.99 on Friday. The firm's 50 day simple moving average is $171.48 and its 200 day simple moving average is $177.77. The firm has a market capitalization of $82.00 billion, a price-to-earnings ratio of 24.21, a P/E/G ratio of 2.77 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 $214.79.

American Tower (NYSE:AMT - Get Free Report) last released its earnings results on Tuesday, July 28th. The real estate investment trust reported $2.71 earnings per share for the quarter, topping the consensus estimate of $1.57 by $1.14. American Tower had a return on equity of 32.76% and a net margin of 31.08%.The firm had revenue of $2.75 billion during the quarter, compared to analysts' expectations of $2.70 billion. During the same period in the prior year, the company earned $2.60 earnings per share. The company's quarterly revenue 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, research analysts expect that American Tower Corporation will post 10.78 earnings per share for the current fiscal year.

Insider Buying and Selling at American Tower

In other American Tower news, 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 transaction of $894,450.00. Following the completion of the transaction, the chief financial officer owned 21,428 shares of the company's stock, valued at approximately $3,833,254.92. The trade was a 18.92% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Ruth T. Dowling sold 1,106 shares of the stock in a transaction dated Wednesday, July 29th. The stock was sold at an average price of $174.96, for a total transaction of $193,505.76. Following the completion of the transaction, the executive vice president directly owned 27,711 shares of the company's stock, valued at $4,848,316.56. This trade 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. Over the last 90 days, insiders have sold 6,791 shares of company stock valued at $1,204,091. 0.08% of the stock is owned by corporate insiders.

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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