Groupe la Francaise Acquires 25,508 Shares of American Tower Corporation $AMT

Key Points

• Groupe la Francaise increased its American Tower stake by 319% in the second quarter, acquiring 25,508 shares and ending the period with 33,505 shares valued at approximately $5.48 million. Institutional investors collectively own 92.69% of the company.
• Insider activity was mixed: Director Rajesh Kalathur bought 2,829 shares for roughly $500,733, while CFO Robert Joseph Meyer sold 5,000 shares for approximately $894,450. Insiders own just 0.08% of American Tower.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and a $215.29 price target. American Tower also exceeded quarterly earnings expectations, reporting $2.71 in EPS on $2.75 billion in revenue.

Groupe la Francaise grew its holdings in American Tower Corporation (NYSE:AMT - Free Report) by 319.0% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 33,505 shares of the real estate investment trust's stock after buying an additional 25,508 shares during the quarter. Groupe la Francaise's holdings in American Tower were worth $5,481,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Operose Advisors LLC bought a new stake in American Tower during the 2nd quarter worth about $25,000. Swiss RE Ltd. acquired a new position in shares of American Tower during the fourth quarter worth approximately $25,000. Allied Private Wealth LLC bought a new stake in shares of American Tower during the second quarter valued at approximately $29,000. Triumph Capital Management acquired a new stake in shares of American Tower in the third quarter valued at approximately $29,000. Finally, Acumen Wealth Advisors LLC acquired a new stake in shares of American Tower in the fourth quarter valued at approximately $29,000. Institutional investors and hedge funds own 92.69% of the company's stock.

Insider Buying and Selling at American Tower

In other news, Director Rajesh Kalathur bought 2,829 shares of the business's stock in a transaction on Friday, August 21st. The shares were bought at an average cost of $177.00 per share, for a total transaction of $500,733.00. Following the completion of the acquisition, the director owned 7,765 shares in the company, valued at approximately $1,374,405. This trade represents a 57.31% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Robert Joseph Meyer sold 5,000 shares of American Tower stock in a transaction 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 directly owned 21,428 shares in the company, valued at approximately $3,833,254.92. This represents a 18.92% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 6,791 shares of company stock valued at $1,204,091. Corporate insiders own 0.08% of the company's stock.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Mizuho set a $208.00 price objective on American Tower in a report on Thursday, August 20th. Sanford C. Bernstein reissued an "outperform" rating and issued a $214.00 target price on shares of American Tower in a research note on Wednesday, July 29th. BMO Capital Markets boosted their target price on American Tower from $190.00 to $195.00 and gave the stock a "market perform" rating in a research report on Wednesday, July 29th. Royal Bank Of Canada raised 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 research note on Friday, June 26th. Finally, Truist Financial reiterated a "buy" rating and issued a $207.00 price objective (down from $208.00) on shares of American Tower in a research report on Wednesday, August 12th. 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. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $215.29.

American Tower Price Performance

American Tower stock opened at $175.83 on Tuesday. The firm has a market capitalization of $81.93 billion, a P/E ratio of 24.19, a PEG ratio of 2.82 and a beta of 0.89. American Tower Corporation has a 1 year low of $160.06 and a 1 year high of $199.40. The business has a 50-day moving average of $171.09 and a 200-day moving average of $177.40. 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 announced its quarterly earnings results on Tuesday, July 28th. The real estate investment trust reported $2.71 earnings per share 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 business 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 company posted $2.60 EPS. American Tower's revenue for the quarter 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 anticipate that American Tower Corporation will post 10.8 EPS for the current year.

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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