Global Retirement Partners LLC bought a new stake in American Tower Corporation (NYSE:AMT - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 14,679 shares of the real estate investment trust's stock, valued at approximately $2,401,000.
A number of other large investors have also recently made changes to their positions in the company. Brighton Jones LLC boosted its holdings in shares of American Tower by 113.0% in the fourth quarter. Brighton Jones LLC now owns 3,966 shares of the real estate investment trust's stock valued at $727,000 after acquiring an additional 2,104 shares during the period. Sivia Capital Partners LLC raised its position in 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 purchasing an additional 368 shares during the last quarter. United Bank raised its position in American Tower by 12.7% in the 2nd quarter. United Bank now owns 6,488 shares of the real estate investment trust's stock valued at $1,434,000 after purchasing an additional 733 shares during the last quarter. Treasurer of the State of North Carolina boosted its stake in American Tower by 2.2% during the 2nd quarter. Treasurer of the State of North Carolina now owns 218,511 shares of the real estate investment trust's stock worth $48,295,000 after purchasing an additional 4,778 shares during the period. Finally, Ieq Capital LLC boosted its stake in American Tower by 52.2% during the 2nd quarter. Ieq Capital LLC now owns 34,248 shares of the real estate investment trust's stock worth $7,570,000 after purchasing an additional 11,751 shares during the period. 92.69% of the stock is owned by institutional investors and hedge funds.
American Tower Price Performance
Shares of AMT opened at $175.68 on Monday. American Tower Corporation has a twelve month low of $160.06 and a twelve month high of $214.79. The stock's 50 day moving average is $172.82 and its two-hundred day moving average is $177.93. The firm has a market capitalization of $81.86 billion, a PE ratio of 24.17, a P/E/G ratio of 2.79 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 (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, topping analysts' consensus estimates of $1.57 by $1.14. The business had revenue of $2.75 billion during the quarter, compared to the consensus estimate of $2.70 billion. American Tower had a return on equity of 32.76% and a net margin of 31.08%.The company's revenue for the quarter was up 4.6% on a year-over-year basis. During the same period in the prior year, the business posted $2.60 EPS. American Tower has set its FY 2026 guidance at 11.000-11.170 EPS. Research analysts anticipate that American Tower Corporation will post 10.78 earnings per share for the current year.
American Tower Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 13th. Investors of record on Friday, June 12th were issued a dividend of $1.79 per share. This represents a $7.16 dividend on an annualized basis and a yield of 4.1%. The ex-dividend date of this dividend was Friday, June 12th. American Tower's dividend payout ratio is currently 98.49%.
Insider Buying and Selling at American Tower
In other news, CFO Robert Joseph Meyer sold 5,000 shares of the company'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 transaction, the chief financial officer directly owned 21,428 shares of the company's stock, valued at $3,833,254.92. This represents a 18.92% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 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 transaction 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 ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 6,791 shares of company stock valued at $1,204,091 in the last quarter. 0.08% of the stock is currently owned by company insiders.
Analyst Ratings Changes
A number of research analysts have commented on the stock. Weiss Ratings upgraded shares of American Tower from a "hold (c-)" rating to a "hold (c)" rating in a research note on Tuesday, July 14th. Citizens Jmp reiterated a "market outperform" rating and set a $260.00 target price on shares of American Tower in a research note on Wednesday, April 29th. Scotiabank restated an "outperform" rating on shares of American Tower in a research report on Wednesday, July 29th. Jefferies Financial Group reduced their price objective on 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, Truist Financial reaffirmed a "buy" rating and set a $207.00 price objective (down from $208.00) on shares of American Tower in a research report on Wednesday, August 12th. 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 MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $215.14.
View Our Latest Stock 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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