Brasada Capital Management LP Takes Position in American Tower Corporation $AMT

Brasada Capital Management LP purchased a new position in American Tower Corporation (NYSE:AMT) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 3,064 shares of the real estate investment trust’s stock, valued at approximately $501,000.

Other institutional investors have also made changes to their positions in the company. BlackRock Inc. purchased a new stake in American Tower in the 2nd quarter worth approximately $7,490,943,000. J. Stern & Co. LLP grew its holdings in shares of American Tower by 28,121.1% during the 4th quarter. J. Stern & Co. LLP now owns 37,686,978 shares of the real estate investment trust’s stock valued at $6,616,703,000 after acquiring an additional 37,553,436 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in shares of American Tower by 20,721.6% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 9,712,672 shares of the real estate investment trust’s stock worth $1,705,254,000 after acquiring an additional 9,666,025 shares during the last quarter. Deutsche Bank AG purchased a new stake in shares of American Tower during the second quarter worth $1,096,186,000. Finally, Norges Bank purchased a new stake in shares of American Tower during the fourth quarter worth $1,171,180,000. 92.69% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at American Tower

In related news, Director Rajesh Kalathur bought 2,829 shares of American Tower stock in a transaction that occurred on Friday, August 21st. The stock was purchased 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 $1,374,405. This trade represents a 57.31% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Ruth T. Dowling sold 1,106 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the executive vice president owned 27,711 shares of the company’s stock, valued at approximately $4,848,316.56. This trade represents a 3.84% decrease in their ownership of the stock. 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 quarter, insiders sold 6,791 shares of company stock worth $1,204,091. 0.08% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages have commented on AMT. Royal Bank Of Canada upgraded American Tower from a “sector perform” rating to an “outperform” rating and boosted their target price for the company from $195.00 to $205.00 in a research note on Friday, June 26th. 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. Jefferies Financial Group reduced their price target on American Tower from $210.00 to $201.00 and set a “buy” rating for the company in a report on Wednesday, July 15th. The Goldman Sachs Group set a $210.00 price target on American Tower in a research note on Tuesday, July 28th. Finally, Weiss Ratings upgraded American Tower from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, July 14th. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, American Tower presently has an average rating of “Moderate Buy” and an average target price of $215.29.

American Tower Stock Down 0.9%

AMT stock opened at $174.15 on Friday. The firm has a market cap of $81.15 billion, a PE ratio of 23.95, a PEG ratio of 2.78 and a beta of 0.90. American Tower Corporation has a 1 year low of $160.06 and a 1 year high of $205.21. The company has a fifty day simple moving average of $170.86 and a 200 day simple moving average of $177.88. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 3.12.

American Tower (NYSE:AMT) last posted its earnings results 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 firm had revenue of $2.75 billion for the quarter, compared to the consensus estimate of $2.70 billion. During the same period in the prior year, the business posted $2.60 earnings per share. The business’s quarterly 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. Sell-side analysts anticipate that American Tower Corporation will post 10.8 EPS 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.