Syntax Research Inc. Has $791,000 Stock Position in American Tower Corporation $AMT

Key Points

• Syntax Research cut its American Tower position by 65.3% in the second quarter, selling 9,089 shares and retaining 4,836 shares valued at approximately $791,000.
• Institutional ownership remains substantial at 92.69%, with BlackRock, Deutsche Bank, Norges Bank and other major investors adding or initiating positions.
• American Tower reported quarterly EPS of $2.71, well above the $1.57 consensus estimate, while analysts maintain a “Moderate Buy” rating and an average price target of $215.29.

Syntax Research Inc. lowered its position in shares of American Tower Corporation (NYSE:AMT - Free Report) by 65.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,836 shares of the real estate investment trust's stock after selling 9,089 shares during the quarter. American Tower accounts for about 0.6% of Syntax Research Inc.'s holdings, making the stock its 29th largest position. Syntax Research Inc.'s holdings in American Tower were worth $791,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the company. BlackRock Inc. acquired a new stake in American Tower during the 2nd quarter valued at $7,490,943,000. J. Stern & Co. LLP boosted its position in shares of American Tower by 28,121.1% in the fourth quarter. J. Stern & Co. LLP now owns 37,686,978 shares of the real estate investment trust's stock worth $6,616,703,000 after buying an additional 37,553,436 shares during the period. Northwestern Mutual Wealth Management Co. grew its holdings in shares of American Tower by 20,721.6% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 9,712,672 shares of the real estate investment trust's stock valued at $1,705,254,000 after buying an additional 9,666,025 shares in the last quarter. Deutsche Bank AG purchased a new position in shares of American Tower during the second quarter valued at $1,096,186,000. Finally, Norges Bank acquired a new position in American Tower during the fourth quarter valued at $1,171,180,000. Hedge funds and other institutional investors own 92.69% of the company's stock.

Insiders Place Their Bets

In related news, Director Rajesh Kalathur purchased 2,829 shares of American Tower stock in a transaction on Friday, August 21st. The stock was bought at an average price of $177.00 per share, with a total value of $500,733.00. Following the completion of the transaction, the director directly owned 7,765 shares of the company's stock, valued at approximately $1,374,405. This represents a 57.31% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Ruth Dowling sold 1,106 shares of the stock in a transaction dated Wednesday, July 29th. The shares were 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 in the company, valued at approximately $4,848,316.56. This represents a 3.84% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 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 over the last quarter. Insiders own 0.08% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on AMT. Scotiabank reissued an "outperform" rating on shares of American Tower in a research note on Wednesday, July 29th. Wolfe Research upgraded American Tower from a "peer perform" rating to an "outperform" rating and set a $188.00 target price on the stock in a report on Wednesday, July 8th. Royal Bank Of Canada raised shares of American Tower from a "sector perform" rating to an "outperform" rating and increased their price target for the stock from $195.00 to $205.00 in a research report on Friday, June 26th. Weiss Ratings upgraded shares of American Tower from a "hold (c-)" rating to a "hold (c)" rating in a report on Tuesday, July 14th. Finally, Jefferies Financial Group lowered their price objective 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. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $215.29.

American Tower Stock Performance

Shares of AMT opened at $177.51 on Friday. The firm has a market cap of $82.71 billion, a price-to-earnings ratio of 24.42, a price-to-earnings-growth ratio of 2.78 and a beta of 0.89. The company's fifty day moving average is $170.93 and its 200-day moving average is $177.64. 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 Corporation has a 12 month low of $160.06 and a 12 month high of $199.40.

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 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.57 by $1.14. The business had revenue of $2.75 billion during the quarter, compared to analyst estimates of $2.70 billion. American Tower had a net margin of 31.08% and a return on equity of 32.76%. American Tower's quarterly revenue was up 4.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.60 EPS. American Tower has set its FY 2026 guidance at 11.000-11.170 EPS. Equities analysts expect that American Tower Corporation will post 10.8 EPS for the current fiscal 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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