NEOS Investment Management LLC Purchases 17,914 Shares of American Tower Corporation $AMT

Key Points

• NEOS Investment Management increased its American Tower stake by 14.3% in the second quarter, purchasing 17,914 shares and bringing its holdings to 143,505 shares valued at approximately $23.5 million. Institutional investors collectively own 92.69% of the stock.
• Analysts maintain a generally positive outlook, with American Tower receiving a “Moderate Buy” consensus rating and an average price target of $215.29. Recent target increases included RBC’s move to $205 and Goldman Sachs’ $210 objective.
• American Tower reported quarterly earnings of $2.71 per share, well above the $1.57 consensus estimate, while revenue rose 4.6% year over year to $2.75 billion. Shares recently traded at $175.83, down 1.1%, and an insider director purchased about $501,000 of stock while the CFO sold shares.

NEOS Investment Management LLC lifted its holdings in American Tower Corporation (NYSE:AMT - Free Report) by 14.3% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 143,505 shares of the real estate investment trust's stock after purchasing an additional 17,914 shares during the period. NEOS Investment Management LLC's holdings in American Tower were worth $23,473,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Outfitters Financial LLC raised its position in American Tower by 1.3% in the second quarter. Outfitters Financial LLC now owns 6,730 shares of the real estate investment trust's stock worth $1,101,000 after acquiring an additional 85 shares during the period. Nykredit A S bought a new stake in shares of American Tower during the 2nd quarter valued at $27,221,000. B. Metzler seel. Sohn & Co. AG increased its stake in shares of American Tower by 17.2% in the 2nd quarter. B. Metzler seel. Sohn & Co. AG now owns 66,057 shares of the real estate investment trust's stock worth $10,805,000 after purchasing an additional 9,692 shares in the last quarter. Sunburst Financial Group LLC increased its stake in shares of American Tower by 3.5% in the 2nd 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 in the last quarter. Finally, Natural Investments LLC raised its holdings in American Tower by 0.8% in the 2nd quarter. Natural Investments LLC now owns 9,674 shares of the real estate investment trust's stock worth $1,582,000 after purchasing an additional 75 shares during the period. 92.69% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have issued reports on the company. BMO Capital Markets boosted their price target on American Tower from $190.00 to $195.00 and gave the company a "market perform" rating in a report on Wednesday, July 29th. The Goldman Sachs Group set a $210.00 price objective on American Tower in a research note on Tuesday, July 28th. Wolfe Research upgraded American Tower from a "peer perform" rating to an "outperform" rating and set a $188.00 price objective for the company in a research note on Wednesday, July 8th. Scotiabank restated an "outperform" rating on shares of American Tower in a research note on Wednesday, July 29th. Finally, Royal Bank Of Canada raised shares of American Tower from a "sector perform" rating to an "outperform" rating and lifted their price target for the company from $195.00 to $205.00 in a report on Friday, June 26th. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $215.29.

American Tower Trading Down 1.1%

Shares of AMT stock opened at $175.83 on Friday. 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 fifty day simple moving average of $170.94 and a two-hundred day simple moving average of $177.62. The firm has a market capitalization of $81.93 billion, a PE ratio of 24.19, a PEG ratio of 2.85 and a beta of 0.89. American Tower Corporation has a 52-week low of $160.06 and a 52-week high of $199.40.

American Tower (NYSE:AMT - Get Free Report) last announced its quarterly earnings data on Tuesday, July 28th. The real estate investment trust reported $2.71 EPS for the quarter, beating the consensus estimate of $1.57 by $1.14. American Tower had a return on equity of 32.76% and a net margin of 31.08%.The business had revenue of $2.75 billion for the quarter, compared to the consensus estimate of $2.70 billion. During the same period in the previous year, the business earned $2.60 earnings per share. The business'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, analysts predict that American Tower Corporation will post 10.8 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Rajesh Kalathur bought 2,829 shares of the stock in a transaction dated Friday, August 21st. The shares were purchased at an average price of $177.00 per share, with a total value of $500,733.00. Following the completion of the acquisition, the director 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 purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Robert Joseph Meyer sold 5,000 shares of the company's 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 owned 21,428 shares of the company's stock, valued at approximately $3,833,254.92. This represents a 18.92% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 6,791 shares of company stock worth $1,204,091 in the last three months. 0.08% of the stock is owned by company insiders.

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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