Bank of New York Mellon Corp Purchases New Stake in American Tower Corporation $AMT

Key Points

• Bank of New York Mellon acquired 3.06 million American Tower shares worth approximately $500 million, representing about 0.66% of the REIT. Institutional investors collectively own 92.69% of AMT.
• American Tower reported quarterly EPS of $2.71, exceeding the $1.57 consensus estimate, while revenue rose 4.6% year over year to $2.75 billion. The company issued fiscal 2026 EPS guidance of $11.00–$11.17.
• Analysts maintain a largely positive view, with a consensus “Moderate Buy” rating and an average price target of $215.29 versus the stock’s reported $176.36 price. Company insiders sold 6,791 shares worth about $1.2 million over the past three months.

Bank of New York Mellon Corp acquired a new position in shares of American Tower Corporation (NYSE:AMT - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 3,056,891 shares of the real estate investment trust's stock, valued at approximately $500,016,000. Bank of New York Mellon Corp owned about 0.66% of American Tower as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in the stock. Riverwater Partners LLC raised its position in American Tower by 3.8% in the fourth quarter. Riverwater Partners LLC now owns 1,536 shares of the real estate investment trust's stock valued at $270,000 after purchasing an additional 56 shares during the period. Triumph Capital Management raised its holdings in shares of American Tower by 37.3% in the 4th quarter. Triumph Capital Management now owns 206 shares of the real estate investment trust's stock valued at $36,000 after buying an additional 56 shares during the period. Twin City Private Wealth LLC raised its holdings in shares of American Tower by 0.7% in the 4th quarter. Twin City Private Wealth LLC now owns 7,799 shares of the real estate investment trust's stock valued at $1,382,000 after buying an additional 58 shares during the period. Asset Advisory Group Inc. lifted its stake in American Tower by 3.0% during the 1st quarter. Asset Advisory Group Inc. now owns 2,072 shares of the real estate investment trust's stock worth $358,000 after acquiring an additional 60 shares in the last quarter. Finally, Argent Advisors Inc. boosted its holdings in American Tower by 0.9% during the 4th quarter. Argent Advisors Inc. now owns 6,625 shares of the real estate investment trust's stock valued at $1,163,000 after acquiring an additional 61 shares during the period. 92.69% of the stock is currently owned by hedge funds and other institutional investors.

American Tower Price Performance

AMT stock opened at $176.36 on Friday. The stock's 50 day moving average price is $171.26 and its 200 day moving average price is $177.76. The firm has a market cap of $82.18 billion, a P/E ratio of 24.26, a PEG ratio of 2.79 and a beta of 0.90. 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 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 issued its quarterly earnings data 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. 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 for the quarter, compared to the consensus estimate of $2.70 billion. During the same period in the prior year, the business earned $2.60 earnings per share. The business's 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. On average, sell-side analysts expect that American Tower Corporation will post 10.78 earnings per share for the current fiscal year.

Insider Activity at American Tower

In other news, CFO Robert Joseph Meyer sold 5,000 shares of the business's stock in a transaction on Wednesday, July 29th. The shares were sold at an average price of $178.89, for a total transaction of $894,450.00. Following the completion of the sale, the chief financial officer directly owned 21,428 shares of the company's stock, valued at $3,833,254.92. The trade was a 18.92% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Ruth T. Dowling sold 1,106 shares of the company'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 sale, 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 disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 6,791 shares of company stock worth $1,204,091 over the last three months. Corporate insiders own 0.08% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on AMT. Raymond James Financial reissued a "strong-buy" rating and issued a $240.00 price target on shares of American Tower in a research report on Wednesday, April 29th. Citizens Jmp reaffirmed a "market outperform" rating and set a $260.00 price objective on shares of American Tower in a research report on Wednesday, April 29th. Truist Financial reiterated a "buy" rating and set a $207.00 target price (down from $208.00) on shares of American Tower in a research note on Wednesday, August 12th. The Goldman Sachs Group set a $210.00 price target on shares of American Tower in a research note on Tuesday, July 28th. Finally, TD Cowen raised their price objective on American Tower from $225.00 to $227.00 and gave the stock a "buy" 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's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $215.29.

American Tower 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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