Korea Investment CORP Raises Position in American Tower Corporation $AMT

Korea Investment CORP grew its position in shares of American Tower Corporation (NYSE:AMT) by 130.4% during the second quarter, Holdings Channel reports. The fund owned 438,103 shares of the real estate investment trust’s stock after purchasing an additional 247,967 shares during the period. Korea Investment CORP’s holdings in American Tower were worth $71,661,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Oakworth Capital Inc. raised its holdings in American Tower by 90.7% in 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. purchased a new position in American Tower during the fourth quarter valued at $25,000. Allied Private Wealth LLC bought a new stake in shares of American Tower during the 2nd quarter valued at $29,000. Triumph Capital Management purchased a new stake in shares of American Tower in the 3rd quarter worth about $29,000. Finally, Acumen Wealth Advisors LLC bought a new position in shares of American Tower in the 4th quarter worth about $29,000. Institutional investors own 92.69% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Robert Joseph Meyer sold 5,000 shares of the business’s stock in a transaction on Wednesday, July 29th. The stock was sold at an average price of $178.89, for a total value of $894,450.00. Following the completion of the transaction, the chief financial officer owned 21,428 shares in the company, valued at $3,833,254.92. The trade was a 18.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Ruth T. Dowling sold 1,106 shares of the company’s stock in a transaction on 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. The trade was a 3.84% decrease in their ownership of the stock. 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. In the last three months, insiders sold 6,791 shares of company stock valued at $1,204,091. Corporate insiders own 0.08% of the company’s stock.

American Tower Trading Up 0.4%

NYSE:AMT opened at $176.36 on Friday. The company’s 50 day moving average price is $171.26 and its 200-day moving average price is $177.76. American Tower Corporation has a 52 week low of $160.06 and a 52 week high of $214.79. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 3.12. The stock has a market cap of $82.18 billion, a price-to-earnings ratio of 24.26, a PEG ratio of 2.79 and a beta of 0.90.

American Tower (NYSE:AMT) last announced its quarterly earnings data on Tuesday, July 28th. The real estate investment trust reported $2.71 earnings per share for the quarter, topping 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 net margin of 31.08% and a return on equity of 32.76%. The firm’s revenue for the quarter was up 4.6% on a year-over-year basis. During the same period in the previous year, the business earned $2.60 EPS. American Tower has set its FY 2026 guidance at 11.000-11.170 EPS. On average, equities research analysts forecast that American Tower Corporation will post 10.78 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

AMT has been the subject of a number of recent research reports. Mizuho set a $208.00 price target on shares of American Tower in a research report on Thursday. Raymond James Financial reaffirmed a “strong-buy” rating and set a $240.00 target price on shares of American Tower in a research note on Wednesday, April 29th. TD Cowen lifted their target price on shares of American Tower from $225.00 to $227.00 and gave the company a “buy” rating in a report on Wednesday, July 29th. Scotiabank reaffirmed an “outperform” rating on shares of American Tower in a research report on Wednesday, July 29th. Finally, Truist Financial reissued a “buy” rating and issued a $207.00 target price (down from $208.00) on shares of American Tower in a report on Wednesday, August 12th. One research 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 company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $215.29.

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.