United Capital Financial Advisors LLC Buys New Shares in American Tower Corporation $AMT

United Capital Financial Advisors LLC purchased a new stake in shares of American Tower Corporation (NYSE:AMT) in the 2nd quarter, Holdings Channel reports. The institutional investor purchased 99,063 shares of the real estate investment trust’s stock, valued at approximately $16,204,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of AMT. Brighton Jones LLC lifted its holdings in American Tower by 113.0% during the fourth quarter. Brighton Jones LLC now owns 3,966 shares of the real estate investment trust’s stock valued at $727,000 after purchasing an additional 2,104 shares in the last quarter. Sivia Capital Partners LLC boosted its position in shares of American Tower by 34.3% in the second quarter. Sivia Capital Partners LLC now owns 1,442 shares of the real estate investment trust’s stock worth $319,000 after purchasing an additional 368 shares during the period. United Bank increased its stake in shares of American Tower by 12.7% in the second quarter. United Bank now owns 6,488 shares of the real estate investment trust’s stock worth $1,434,000 after purchasing an additional 733 shares in the last quarter. Treasurer of the State of North Carolina increased its stake in shares of American Tower by 2.2% in the second quarter. Treasurer of the State of North Carolina now owns 218,511 shares of the real estate investment trust’s stock worth $48,295,000 after purchasing an additional 4,778 shares in the last quarter. Finally, Ieq Capital LLC raised its position in shares of American Tower by 52.2% during the 2nd quarter. Ieq Capital LLC now owns 34,248 shares of the real estate investment trust’s stock valued at $7,570,000 after purchasing an additional 11,751 shares during the period. Hedge funds and other institutional investors own 92.69% of the company’s stock.

American Tower Trading Down 0.9%

Shares of AMT stock opened at $174.15 on Friday. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 3.12. The stock has a market capitalization of $81.15 billion, a price-to-earnings ratio of 23.95, a price-to-earnings-growth ratio of 2.78 and a beta of 0.90. American Tower Corporation has a 12-month low of $160.06 and a 12-month high of $205.21. The stock’s 50-day moving average price is $170.86 and its 200-day moving average price is $177.88.

American Tower (NYSE:AMT) last announced its quarterly earnings results on Tuesday, July 28th. The real estate investment trust reported $2.71 EPS for the quarter, beating analysts’ consensus estimates of $1.57 by $1.14. The company had revenue of $2.75 billion during the quarter, compared to analyst estimates of $2.70 billion. American Tower had a return on equity of 32.76% and a net margin of 31.08%.The firm’s revenue was up 4.6% on a year-over-year basis. During the same period in the prior year, the company earned $2.60 earnings per share. American Tower has set its FY 2026 guidance at 11.000-11.170 EPS. Equities research analysts predict that American Tower Corporation will post 10.8 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on AMT. Mizuho set a $208.00 target price on shares of American Tower in a research note on Thursday, August 20th. Weiss Ratings raised American Tower from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, July 14th. BMO Capital Markets boosted their price objective on American Tower from $190.00 to $195.00 and gave the company a “market perform” rating in a research report on Wednesday, July 29th. Jefferies Financial Group dropped their price objective on American Tower from $210.00 to $201.00 and set a “buy” rating for the company in a research note on Wednesday, July 15th. Finally, Truist Financial reissued a “buy” rating and set a $207.00 target price (down from $208.00) on shares of American Tower in a research note on Wednesday, August 12th. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, American Tower has an average rating of “Moderate Buy” and a consensus price target of $215.29.

Insider Activity

In related news, CFO Robert Joseph Meyer sold 5,000 shares of the business’s stock in a transaction on Wednesday, July 29th. The shares were sold at an average price of $178.89, for a total value 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. The trade was a 18.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Rajesh Kalathur purchased 2,829 shares of the firm’s stock in a transaction that occurred on Friday, August 21st. The shares were acquired at an average cost of $177.00 per share, for a total transaction of $500,733.00. Following the purchase, 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 disclosure for this purchase is available in the SEC filing. In the last ninety days, insiders sold 6,791 shares of company stock worth $1,204,091. 0.08% of the stock is currently owned by 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.