Pacific Heights Asset Management LLC Invests $32.71 Million in American Tower Corporation $AMT

Pacific Heights Asset Management LLC purchased a new stake in American Tower Corporation (NYSE:AMT) during the 2nd quarter, Holdings Channel reports. The institutional investor purchased 200,000 shares of the real estate investment trust’s stock, valued at approximately $32,714,000. American Tower comprises approximately 1.0% of Pacific Heights Asset Management LLC’s holdings, making the stock its 26th largest holding.

A number of other large investors have also recently added to or reduced their stakes in the stock. Riverwater Partners LLC grew its holdings in American Tower by 3.8% during the 4th quarter. Riverwater Partners LLC now owns 1,536 shares of the real estate investment trust’s stock worth $270,000 after acquiring an additional 56 shares in the last quarter. Triumph Capital Management raised its stake in shares of American Tower by 37.3% in the 4th quarter. Triumph Capital Management now owns 206 shares of the real estate investment trust’s stock valued at $36,000 after purchasing an additional 56 shares in the last quarter. Twin City Private Wealth LLC lifted its position in shares of American Tower by 0.7% during the fourth quarter. Twin City Private Wealth LLC now owns 7,799 shares of the real estate investment trust’s stock worth $1,382,000 after purchasing an additional 58 shares during the last quarter. Asset Advisory Group Inc. lifted its position in shares of American Tower by 3.0% during the first quarter. Asset Advisory Group Inc. now owns 2,072 shares of the real estate investment trust’s stock worth $358,000 after purchasing an additional 60 shares during the last quarter. Finally, Argent Advisors Inc. grew its stake in American Tower by 0.9% in the fourth quarter. Argent Advisors Inc. now owns 6,625 shares of the real estate investment trust’s stock worth $1,163,000 after purchasing an additional 61 shares in the last quarter. 92.69% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on AMT shares. Jefferies Financial Group lowered their price objective on American Tower from $210.00 to $201.00 and set a “buy” rating for the company in a report on Wednesday, July 15th. Scotiabank reiterated an “outperform” rating on shares of American Tower in a research report on Wednesday, July 29th. Royal Bank Of Canada upgraded American Tower from a “sector perform” rating to an “outperform” rating and boosted their price target for the company from $195.00 to $205.00 in a report on Friday, June 26th. Weiss Ratings raised American Tower from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, July 14th. Finally, TD Cowen raised their price objective on American Tower from $225.00 to $227.00 and gave the stock a “buy” rating in a research note on Wednesday, July 29th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $215.29.

Insider Buying and Selling

In related news, Director Rajesh Kalathur purchased 2,829 shares of the business’s stock in a transaction that occurred on Friday, August 21st. The shares were acquired at an average price of $177.00 per share, with a total value of $500,733.00. Following the acquisition, the director owned 7,765 shares in the company, valued at approximately $1,374,405. This trade represents a 57.31% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Robert Joseph Meyer sold 5,000 shares of the company’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 transaction, the chief financial officer owned 21,428 shares of the company’s stock, valued at approximately $3,833,254.92. The trade was a 18.92% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 6,791 shares of company stock valued at $1,204,091. Insiders own 0.08% of the company’s stock.

American Tower Price Performance

AMT opened at $174.15 on Friday. The firm has a market cap 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 fifty-two week low of $160.06 and a fifty-two week high of $205.21. The company’s 50-day moving average price is $170.86 and its 200 day moving average price is $177.88. 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 (NYSE:AMT) last issued its 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 the consensus estimate of $2.70 billion. American Tower had a return on equity of 32.76% and a net margin of 31.08%.American Tower’s quarterly revenue was up 4.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.60 earnings per share. American Tower has set its FY 2026 guidance at 11.000-11.170 EPS. As a group, sell-side analysts expect that American Tower Corporation will post 10.8 earnings per share for the current year.

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.