EP Wealth Advisors LLC Cuts Position in American Tower Corporation $AMT

Key Points

• EP Wealth Advisors LLC cut its American Tower position by 60.5% during the second quarter, selling 48,997 shares and retaining 31,956 shares valued at approximately $5.23 million.
• Analysts remain broadly positive, with a consensus rating of “Moderate Buy” and an average price target of $215.29. Institutional investors and hedge funds own 92.69% of American Tower’s outstanding shares.
• American Tower reported quarterly EPS of $2.71, well above the $1.57 consensus estimate, while revenue rose 4.6% year over year to $2.75 billion. Shares opened at $176.36, and company insiders sold 6,791 shares worth about $1.2 million during the last quarter.

EP Wealth Advisors LLC reduced its position in shares of American Tower Corporation (NYSE:AMT - Free Report) by 60.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 31,956 shares of the real estate investment trust's stock after selling 48,997 shares during the period. EP Wealth Advisors LLC's holdings in American Tower were worth $5,227,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also modified their holdings of AMT. Raleigh Capital Management Inc. increased its stake in American Tower by 489.1% during the 1st quarter. Raleigh Capital Management Inc. now owns 13,703 shares of the real estate investment trust's stock worth $2,365,000 after buying an additional 11,377 shares during the period. Canal Capital Management LLC increased its position in shares of American Tower by 81.9% during the first quarter. Canal Capital Management LLC now owns 34,471 shares of the real estate investment trust's stock worth $5,949,000 after acquiring an additional 15,520 shares during the period. Bernzott Capital Advisors raised its stake in shares of American Tower by 29.3% in the first quarter. Bernzott Capital Advisors now owns 42,161 shares of the real estate investment trust's stock valued at $7,276,000 after acquiring an additional 9,556 shares in the last quarter. Legal & General Group Plc grew its stake in American Tower by 4.7% during the 4th quarter. Legal & General Group Plc now owns 4,873,695 shares of the real estate investment trust's stock worth $855,675,000 after purchasing an additional 220,447 shares in the last quarter. Finally, Swiss Life Asset Management Ltd increased its holdings in American Tower by 13.9% during the 4th quarter. Swiss Life Asset Management Ltd now owns 101,993 shares of the real estate investment trust's stock worth $17,907,000 after purchasing an additional 12,464 shares during the period. 92.69% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on AMT shares. Weiss Ratings raised American Tower from a "hold (c-)" rating to a "hold (c)" rating in a research report on Tuesday, July 14th. The Goldman Sachs Group set a $210.00 price target on shares of 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 raised their price objective for the company from $195.00 to $205.00 in a report on Friday, June 26th. Jefferies Financial Group lowered their target price on shares of American Tower from $210.00 to $201.00 and set a "buy" rating for the company in a research note on Wednesday, July 15th. Finally, TD Cowen raised their price target on American Tower from $225.00 to $227.00 and gave the company a "buy" rating in a research note on Wednesday, July 29th. One investment 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. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $215.29.

Insider Transactions at American Tower

In related news, CFO Robert Joseph Meyer sold 5,000 shares of the firm's stock in a transaction that occurred on Wednesday, July 29th. The stock was sold at an average price of $178.89, for a total transaction of $894,450.00. Following the transaction, the chief financial officer owned 21,428 shares in the company, valued at $3,833,254.92. This trade represents a 18.92% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Ruth T. Dowling sold 1,106 shares of American Tower stock in a transaction that occurred 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 directly owned 27,711 shares in the company, valued at approximately $4,848,316.56. This trade represents a 3.84% decrease in their position. 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 have sold 6,791 shares of company stock worth $1,204,091 in the last quarter. Insiders own 0.08% of the company's stock.

American Tower Stock Up 0.4%

Shares of NYSE:AMT opened at $176.36 on Friday. The firm has a 50 day simple moving average of $171.26 and a 200-day simple moving average of $177.76. American Tower Corporation has a twelve month low of $160.06 and a twelve month high of $214.79. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 3.12. The company has a market capitalization of $82.18 billion, a PE ratio of 24.26, a P/E/G ratio of 2.79 and a beta of 0.90.

American Tower (NYSE:AMT - Get Free Report) last posted its earnings results on Tuesday, July 28th. The real estate investment trust reported $2.71 EPS for the quarter, beating analysts' consensus estimates of $1.57 by $1.14. American Tower had a net margin of 31.08% and a return on equity of 32.76%. The firm had revenue of $2.75 billion for the quarter, compared to the consensus estimate of $2.70 billion. During the same period last year, the firm posted $2.60 EPS. The company'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, equities analysts predict that American Tower Corporation will post 10.78 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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