Ninepoint Partners LP Takes $1.86 Million Position in American Tower Corporation $AMT

Key Points

• Ninepoint Partners acquired 11,389 American Tower shares worth approximately $1.86 million during the second quarter. Institutional investors collectively own 92.69% of the company.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $215.29, compared with the stock’s reported opening price of $175.99.
• American Tower exceeded quarterly expectations, reporting $2.71 in EPS versus the $1.57 estimate and $2.75 billion in revenue, up 4.6% year over year. Insiders sold 6,791 shares worth about $1.2 million over the past 90 days.

Ninepoint Partners LP bought a new position in shares of American Tower Corporation (NYSE:AMT - Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 11,389 shares of the real estate investment trust's stock, valued at approximately $1,863,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Oakworth Capital Inc. grew its stake in shares of American Tower by 90.7% during the fourth quarter. Oakworth Capital Inc. now owns 143 shares of the real estate investment trust's stock worth $25,000 after purchasing an additional 68 shares in the last quarter. Swiss RE Ltd. acquired a new stake in American Tower during the 4th quarter worth $25,000. Allied Private Wealth LLC purchased a new stake in American Tower in the second quarter valued at $29,000. Triumph Capital Management purchased a new stake in American Tower in the third quarter valued at $29,000. Finally, Acumen Wealth Advisors LLC acquired a new position in American Tower in the fourth quarter valued at $29,000. Institutional investors and hedge funds own 92.69% of the company's stock.

Analysts Set New Price Targets

A number of research firms have recently commented on AMT. Citizens Jmp reiterated a "market outperform" rating and set a $260.00 target price on shares of American Tower in a research report on Wednesday, April 29th. Truist Financial restated a "buy" rating and set a $207.00 price target (down from $208.00) on shares of American Tower in a research note on Wednesday, August 12th. Scotiabank restated an "outperform" rating on shares of American Tower in a research report on Wednesday, July 29th. The Goldman Sachs Group set a $210.00 price objective on American Tower in a report on Tuesday, July 28th. Finally, Sanford C. Bernstein reiterated an "outperform" rating and issued a $214.00 price objective on shares of American Tower in a research report on Wednesday, July 29th. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $215.29.

Insider Transactions at American Tower

In other American Tower news, CFO Robert Joseph Meyer sold 5,000 shares of the 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 sale, the chief financial officer owned 21,428 shares in the company, valued at approximately $3,833,254.92. This represents a 18.92% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Ruth T. Dowling sold 1,106 shares of the firm's stock in a transaction 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 of the company's stock, valued at $4,848,316.56. The trade was 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. In the last 90 days, insiders have sold 6,791 shares of company stock valued at $1,204,091. 0.08% of the stock is currently owned by company insiders.

American Tower Trading Up 0.9%

Shares of AMT stock opened at $175.99 on Friday. American Tower Corporation has a fifty-two week low of $160.06 and a fifty-two week high of $214.79. The stock has a market cap of $82.00 billion, a P/E ratio of 24.21, a P/E/G ratio of 2.77 and a beta of 0.90. The business has a fifty day simple moving average of $171.48 and a 200-day simple moving average of $177.77. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 3.12.

American Tower (NYSE:AMT - Get Free Report) last released its quarterly earnings data on Tuesday, July 28th. The real estate investment trust reported $2.71 EPS for the quarter, topping the consensus estimate 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 analyst estimates of $2.70 billion. During the same period in the previous year, the firm earned $2.60 EPS. The business's revenue for the quarter was up 4.6% compared to the same quarter last year. American Tower has set its FY 2026 guidance at 11.000-11.170 EPS. On average, analysts forecast that American Tower Corporation will post 10.78 earnings per share for the current fiscal year.

About American Tower

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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