Danske Bank A S trimmed its position in shares of American Tower Corporation (NYSE:AMT - Free Report) by 2.4% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 252,978 shares of the real estate investment trust's stock after selling 6,200 shares during the period. Danske Bank A S owned approximately 0.05% of American Tower worth $41,380,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Brighton Jones LLC grew its stake in shares of American Tower by 113.0% in the 4th quarter. Brighton Jones LLC now owns 3,966 shares of the real estate investment trust's stock worth $727,000 after buying an additional 2,104 shares in the last quarter. Sivia Capital Partners LLC lifted its holdings in shares of American Tower by 34.3% in the 2nd quarter. Sivia Capital Partners LLC now owns 1,442 shares of the real estate investment trust's stock valued at $319,000 after acquiring an additional 368 shares during the last quarter. United Bank grew its position in American Tower by 12.7% in the second quarter. United Bank now owns 6,488 shares of the real estate investment trust's stock worth $1,434,000 after acquiring an additional 733 shares in the last quarter. Treasurer of the State of North Carolina raised its position in American Tower by 2.2% during the second quarter. Treasurer of the State of North Carolina now owns 218,511 shares of the real estate investment trust's stock valued at $48,295,000 after purchasing an additional 4,778 shares during the period. Finally, Ieq Capital LLC raised its position in American Tower by 52.2% during the second quarter. Ieq Capital LLC now owns 34,248 shares of the real estate investment trust's stock valued at $7,570,000 after purchasing an additional 11,751 shares during the period. 92.69% of the stock is currently owned by institutional investors.
Insider Transactions at American Tower
In related news, CFO Robert Joseph Meyer sold 5,000 shares of the stock in a transaction that occurred on 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 of the company's stock, valued at $3,833,254.92. This represents a 18.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Ruth T. Dowling sold 1,106 shares of the firm'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 in the company, valued at $4,848,316.56. The trade was a 3.84% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 6,791 shares of company stock worth $1,204,091 over the last 90 days. Insiders own 0.08% of the company's stock.
American Tower Stock Performance
AMT stock opened at $174.54 on Thursday. American Tower Corporation has a twelve month low of $160.06 and a twelve month high of $214.79. The firm has a market cap of $81.33 billion, a price-to-earnings ratio of 24.01, a PEG ratio of 2.73 and a beta of 0.90. The business's fifty day simple moving average is $171.75 and its two-hundred day simple moving average is $177.79. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 3.12.
American Tower (NYSE:AMT - Get Free Report) last issued its 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. The firm had revenue of $2.75 billion during the quarter, compared to analyst estimates of $2.70 billion. American Tower had a net margin of 31.08% and a return on equity of 32.76%. The business's revenue was up 4.6% on a year-over-year basis. During the same period in the previous year, the firm earned $2.60 earnings per share. American Tower has set its FY 2026 guidance at 11.000-11.170 EPS. Analysts predict that American Tower Corporation will post 10.78 earnings per share for the current year.
Analysts Set New Price Targets
A number of equities analysts have recently commented on the company. Weiss Ratings upgraded American Tower from a "hold (c-)" rating to a "hold (c)" rating in a report on Tuesday, July 14th. JPMorgan Chase & Co. decreased their price target on American Tower from $245.00 to $240.00 and set an "overweight" rating on the stock in a report on Wednesday, April 29th. Scotiabank restated an "outperform" rating on shares of American Tower in a research report on Wednesday, July 29th. Royal Bank Of Canada upgraded shares of American Tower from a "sector perform" rating to an "outperform" rating and boosted their price objective for the company from $195.00 to $205.00 in a research report on Friday, June 26th. Finally, The Goldman Sachs Group set a $210.00 target price on shares of American Tower in a research note on Tuesday, July 28th. One investment 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 MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $215.14.
Read Our Latest Research Report on American Tower
About American Tower
(
Free Report)
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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