Rajesh Kalathur Buys 2,829 Shares of American Tower (NYSE:AMT) Stock

American Tower Corporation (NYSE:AMT) Director Rajesh Kalathur purchased 2,829 shares of the business’s stock in a transaction that occurred on Friday, August 21st. The stock was bought at an average cost of $177.00 per share, for a total transaction of $500,733.00. Following the acquisition, the director owned 7,765 shares in the company, valued at approximately $1,374,405. The trade was a 57.31% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

American Tower Price Performance

Shares of AMT opened at $175.78 on Thursday. American Tower Corporation has a 12 month low of $160.06 and a 12 month high of $208.03. The company has a debt-to-equity ratio of 3.12, a current ratio of 0.52 and a quick ratio of 0.52. The stock has a fifty day moving average price of $170.89 and a 200 day moving average price of $177.86. The company has a market cap of $81.91 billion, a P/E ratio of 24.18, a PEG ratio of 2.83 and a beta of 0.90.

American Tower (NYSE:AMT) last announced its quarterly earnings results 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 company had revenue of $2.75 billion during the quarter, compared to the consensus estimate of $2.70 billion. American Tower had a net margin of 31.08% and a return on equity of 32.76%. The company’s revenue for the quarter was up 4.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.60 earnings per share. American Tower has set its FY 2026 guidance at 11.000-11.170 EPS. On average, research analysts forecast that American Tower Corporation will post 10.8 earnings per share for the current year.

Analysts Set New Price Targets

AMT has been the topic of a number of recent analyst reports. TD Cowen boosted their price target on shares of American Tower from $225.00 to $227.00 and gave the stock a “buy” rating in a research report on Wednesday, July 29th. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $214.00 price target on shares of American Tower in a research note on Wednesday, July 29th. Scotiabank reaffirmed an “outperform” rating on shares of American Tower in a research note on Wednesday, July 29th. Truist Financial reissued a “buy” rating and issued a $207.00 price target (down from $208.00) on shares of American Tower in a report on Wednesday, August 12th. Finally, Citizens Jmp reissued a “market outperform” rating and set a $260.00 target price on shares of American Tower in a research note on Wednesday, April 29th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, American Tower has an average rating of “Moderate Buy” and a consensus target price of $215.29.

Institutional Trading of American Tower

Hedge funds and other institutional investors have recently modified their holdings of the business. Amundi boosted its stake in shares of American Tower by 5.6% during the 2nd quarter. Amundi now owns 4,045,753 shares of the real estate investment trust’s stock valued at $661,757,000 after buying an additional 215,220 shares during the period. Groupe la Francaise grew its position in American Tower by 319.0% in the second quarter. Groupe la Francaise now owns 33,505 shares of the real estate investment trust’s stock worth $5,481,000 after acquiring an additional 25,508 shares in the last quarter. CYBER HORNET ETFs LLC lifted its stake in shares of American Tower by 81.5% in the 2nd quarter. CYBER HORNET ETFs LLC now owns 2,334 shares of the real estate investment trust’s stock valued at $360,000 after purchasing an additional 1,048 shares during the last quarter. California State Teachers Retirement System boosted its holdings in American Tower by 17,056.3% in the second quarter. California State Teachers Retirement System now owns 117,012,907 shares of the real estate investment trust’s stock worth $19,139,801,000 after purchasing an additional 116,330,867 shares in the last quarter. Finally, Kintra Wealth LLC acquired a new position in American Tower during the second quarter worth $635,000. Institutional investors and hedge funds own 92.69% of the company’s stock.

American Tower Company 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.