American Tower Corporation $AMT Position Increased by Alyeska Investment Group L.P.

Key Points

• Alyeska Investment Group increased its American Tower stake by 172.7% during the second quarter, adding 524,590 shares to own 828,424 shares valued at approximately $135.5 million.
• Institutional investors own 92.69% of American Tower, while recent insider activity included a director’s purchase of 2,829 shares and an executive vice president’s sale of 1,106 shares.
• Analysts maintain a positive outlook, with a consensus “Moderate Buy” rating and a $215.29 price target. American Tower also exceeded quarterly EPS and revenue estimates, reporting $2.71 EPS and $2.75 billion in revenue.

Alyeska Investment Group L.P. grew its stake in shares of American Tower Corporation (NYSE:AMT - Free Report) by 172.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 828,424 shares of the real estate investment trust's stock after purchasing an additional 524,590 shares during the quarter. Alyeska Investment Group L.P. owned approximately 0.18% of American Tower worth $135,505,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Flputnam Investment Management Co. grew its holdings in American Tower by 7.5% in the 2nd quarter. Flputnam Investment Management Co. now owns 2,259 shares of the real estate investment trust's stock worth $369,000 after buying an additional 158 shares in the last quarter. Wedbush Securities Inc. lifted its holdings in American Tower by 10.3% in the second quarter. Wedbush Securities Inc. now owns 11,596 shares of the real estate investment trust's stock worth $1,897,000 after purchasing an additional 1,080 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in American Tower by 4.3% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,526,261 shares of the real estate investment trust's stock valued at $740,361,000 after buying an additional 186,767 shares in the last quarter. New Mexico Educational Retirement Board increased its stake in American Tower by 8.9% during the 2nd quarter. New Mexico Educational Retirement Board now owns 23,268 shares of the real estate investment trust's stock valued at $3,806,000 after buying an additional 1,900 shares during the period. Finally, Mufg Securities Americas Inc. increased its stake in American Tower by 8.3% during the 2nd quarter. Mufg Securities Americas Inc. now owns 14,033 shares of the real estate investment trust's stock valued at $2,295,000 after buying an additional 1,079 shares during the period. Institutional investors own 92.69% of the company's stock.

Insider Buying and Selling at American Tower

In other American Tower news, EVP Ruth T. Dowling sold 1,106 shares of the business's stock in a transaction 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 of the company's stock, valued at approximately $4,848,316.56. The trade was a 3.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Rajesh Kalathur purchased 2,829 shares of the business's stock in a transaction that occurred on Friday, August 21st. The stock was acquired at an average cost of $177.00 per share, with a total value of $500,733.00. Following the completion of the acquisition, the director directly owned 7,765 shares of the company's stock, valued at $1,374,405. The trade was a 57.31% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last quarter, insiders sold 6,791 shares of company stock worth $1,204,091. 0.08% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

AMT has been the topic of a number of research analyst reports. Truist Financial reaffirmed a "buy" rating and set a $207.00 target price (down from $208.00) on shares of American Tower in a report on Wednesday, August 12th. Scotiabank reiterated an "outperform" rating on shares of American Tower in a research note on Wednesday, July 29th. The Goldman Sachs Group set a $210.00 target price on American Tower in a report on Tuesday, July 28th. Royal Bank Of Canada upgraded shares of American Tower from a "sector perform" rating to an "outperform" rating and upped their price target for the company from $195.00 to $205.00 in a report on Friday, June 26th. Finally, Weiss Ratings upgraded American Tower from a "hold (c-)" rating to a "hold (c)" rating in a research note on Tuesday, July 14th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $215.29.

American Tower Stock Performance

Shares of NYSE:AMT opened at $176.25 on Friday. The business's fifty day moving average price is $170.87 and its two-hundred day moving average price is $177.87. The company has a debt-to-equity ratio of 3.12, a current ratio of 0.52 and a quick ratio of 0.52. American Tower Corporation has a fifty-two week low of $160.06 and a fifty-two week high of $205.21. The stock has a market capitalization of $82.13 billion, a price-to-earnings ratio of 24.24, a price-to-earnings-growth ratio of 2.79 and a beta of 0.90.

American Tower (NYSE:AMT - Get Free Report) last announced its quarterly earnings results on Tuesday, July 28th. The real estate investment trust reported $2.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.57 by $1.14. The firm had revenue of $2.75 billion during the quarter, compared to the consensus estimate of $2.70 billion. American Tower had a net margin of 31.08% and a return on equity of 32.76%. The firm's quarterly revenue was up 4.6% on a year-over-year basis. During the same period last year, the firm posted $2.60 EPS. American Tower has set its FY 2026 guidance at 11.000-11.170 EPS. As a group, analysts predict that American Tower Corporation will post 10.8 EPS for the current fiscal year.

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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