Inspire Investing LLC Buys 9,920 Shares of American Tower Corporation $AMT

Key Points

• Inspire Investing significantly increased its American Tower stake, acquiring 9,920 additional shares in the third quarter and bringing its holdings to 9,924 shares valued at approximately $1.62 million. Institutional investors collectively own 92.69% of AMT.
• American Tower is benefiting from potential wireless infrastructure demand tied to SpaceX’s reported plans for roughly 80,000 cell sites, as well as strong data-center leasing momentum at its CoreSite business.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $214.90. The company recently exceeded quarterly EPS and revenue expectations and pays a quarterly dividend of $1.79, equivalent to a 3.8% yield.

Inspire Investing LLC grew its stake in American Tower Corporation (NYSE:AMT - Free Report) by 248,000.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,924 shares of the real estate investment trust's stock after acquiring an additional 9,920 shares during the quarter. Inspire Investing LLC's holdings in American Tower were worth $1,624,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of AMT. Dynamic Wealth Strategies LLC boosted its stake in American Tower by 11.1% during the 3rd quarter. Dynamic Wealth Strategies LLC now owns 549 shares of the real estate investment trust's stock worth $90,000 after acquiring an additional 55 shares during the last quarter. Pinnacle Bancorp Inc. increased its stake in American Tower by 1.3% in the third quarter. Pinnacle Bancorp Inc. now owns 4,491 shares of the real estate investment trust's stock valued at $736,000 after purchasing an additional 59 shares in the last quarter. William Allan Corp increased its stake in American Tower by 4.7% in the third quarter. William Allan Corp now owns 1,391 shares of the real estate investment trust's stock valued at $228,000 after purchasing an additional 62 shares in the last quarter. Community Financial Services Group LLC increased its stake in American Tower by 1.2% in the second quarter. Community Financial Services Group LLC now owns 5,388 shares of the real estate investment trust's stock valued at $895,000 after purchasing an additional 65 shares in the last quarter. Finally, Sunburst Financial Group LLC raised its holdings in American Tower by 3.5% in the second quarter. Sunburst Financial Group LLC now owns 1,933 shares of the real estate investment trust's stock worth $316,000 after purchasing an additional 66 shares during the period. 92.69% of the stock is owned by institutional investors.

American Tower News Roundup

Here are the key news stories impacting American Tower this week:

• Positive Sentiment: Reports that SpaceX may pursue approximately 80,000 cell sites to support a nationwide wireless service boosted the outlook for tower operators. American Tower could benefit from new tenants, higher site utilization and incremental recurring rental revenue. SpaceX Talks Send Cell Tower Stocks Surging
• Positive Sentiment: Investors are also citing strong data-center leasing momentum at American Tower’s CoreSite business, adding a second growth catalyst alongside 5G deployments and traditional tower leasing. American Tower climbs as data-center leasing hits fresh records
• Positive Sentiment: Before its upcoming third-quarter report, analysts expect revenue and adjusted funds from operations to benefit from 5G activity, leasing demand and data-center growth. The company’s prior quarter exceeded earnings expectations and revenue increased year over year.
• Neutral Sentiment: Director Teresa Hillary Clarke disclosed several small purchases of American Tower shares, including a recent purchase at approximately $183 per share. The buying provides a modest confidence signal, but the transactions are small relative to the company’s market value and several disclosed trades are older.
• Negative Sentiment: Valuation concerns remain: an analyst recently reduced the price target, while commentary suggested American Tower’s former valuation discount has largely disappeared. This could limit further gains if quarterly results or guidance fail to exceed expectations. American Tower price target cut by Sanford C. Bernstein

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on AMT shares. Jefferies Financial Group reduced their price target on shares of American Tower from $210.00 to $201.00 and set a "buy" rating on the stock in a research report on Wednesday, July 15th. Weiss Ratings upgraded shares of American Tower from a "hold (c-)" rating to a "hold (c)" rating in a research report on Friday. TD Cowen upped their price objective on shares of American Tower from $225.00 to $227.00 and gave the company a "buy" rating in a research report on Wednesday, July 29th. 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 note on Wednesday, August 12th. Finally, The Goldman Sachs Group set a $210.00 target price on American Tower in a report on Tuesday, July 28th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $214.90.

American Tower Price Performance

Shares of AMT opened at $189.25 on Monday. The company has a debt-to-equity ratio of 3.12, a quick ratio of 0.52 and a current ratio of 0.52. The stock has a 50 day simple moving average of $174.69 and a 200 day simple moving average of $175.73. American Tower Corporation has a 52-week low of $160.06 and a 52-week high of $202.50. The firm has a market capitalization of $88.18 billion, a PE ratio of 26.03, a P/E/G ratio of 3.03 and a beta of 0.88.

American Tower (NYSE:AMT - Get Free Report) last posted 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 analysts' expectations of $2.70 billion. American Tower had a return on equity of 32.76% and a net margin of 31.08%. American Tower's revenue for the quarter was up 4.6% compared to the same quarter last year. During the same period in the prior year, the business earned $2.60 EPS. American Tower has set its FY 2026 guidance at 11.000-11.170 EPS. Sell-side analysts predict that American Tower Corporation will post 10.80 EPS for the current fiscal year.

American Tower Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 20th. Stockholders of record on Wednesday, September 30th were issued a $1.79 dividend. This represents a $7.16 annualized dividend and a dividend yield of 3.8%. The ex-dividend date was Wednesday, September 30th. American Tower's dividend payout ratio is 98.49%.

Insider Activity

In other news, CFO Robert Joseph Meyer sold 5,000 shares of the 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 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Rajesh Kalathur acquired 2,829 shares of the stock in a transaction dated Friday, August 21st. The shares were bought at an average cost of $177.00 per share, with a total value of $500,733.00. Following the transaction, the director directly owned 7,765 shares of the company's stock, valued at $1,374,405. This represents a 57.31% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders sold 6,791 shares of company stock worth $1,204,091 over the last quarter. 0.08% of the stock is currently owned by company insiders.

American Tower Profile

American Tower Corporation NYSE: AMT is a real estate investment trust that owns, operates and develops wireless communications infrastructure. Its portfolio primarily includes communications towers, rooftop sites, distributed antenna systems and other infrastructure used by wireless carriers, broadcasters, governments and businesses to support voice, data and video communications.

The company leases space on its sites to multiple customers, allowing them to install antennas and related equipment without building and maintaining individual tower locations.

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