Rockbridge Asset Management LLC Has $12.90 Million Stock Position in American Tower Corporation $AMT

Rockbridge Asset Management LLC lessened its holdings in shares of American Tower Corporation (NYSE:AMT) by 5.0% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 78,863 shares of the real estate investment trust’s stock after selling 4,147 shares during the period. American Tower accounts for about 8.3% of Rockbridge Asset Management LLC’s portfolio, making the stock its 5th largest position. Rockbridge Asset Management LLC’s holdings in American Tower were worth $12,900,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. BlackRock Inc. acquired a new position in shares of American Tower in the 2nd quarter valued at $7,490,943,000. J. Stern & Co. LLP grew its position in shares of American Tower by 28,121.1% in 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 purchasing an additional 37,553,436 shares during the period. Northwestern Mutual Wealth Management Co. increased its position in shares of American Tower by 20,721.6% during 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 in the last quarter. Deutsche Bank AG bought a new position in American Tower during the 2nd quarter worth about $1,096,186,000. Finally, Norges Bank bought a new position in shares of American Tower during the fourth quarter worth about $1,171,180,000. Institutional investors and hedge funds own 92.69% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on AMT. Raymond James Financial restated a “strong-buy” rating and issued a $240.00 price target on shares of American Tower in a research note on Wednesday, April 29th. Wolfe Research upgraded shares of American Tower from a “peer perform” rating to an “outperform” rating and set a $188.00 price objective for the company in a research report on Wednesday, July 8th. Weiss Ratings raised shares of American Tower from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, July 14th. Jefferies Financial Group reduced their price target on American Tower from $210.00 to $201.00 and set a “buy” rating on the stock in a research report on Wednesday, July 15th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of American Tower from $245.00 to $240.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 29th. One investment 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, American Tower currently has a consensus rating of “Moderate Buy” and an average price target of $215.14.

Insider Activity

In related news, CFO Robert Joseph Meyer sold 5,000 shares of the stock in a transaction dated Wednesday, July 29th. The shares were 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 directly owned 21,428 shares in the company, valued at $3,833,254.92. This trade represents a 18.92% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Ruth T. Dowling sold 1,106 shares of the firm’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 owned 27,711 shares of the company’s stock, valued at $4,848,316.56. The trade was a 3.84% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 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. Company insiders own 0.08% of the company’s stock.

American Tower Stock Up 1.3%

Shares of NYSE:AMT opened at $174.54 on Thursday. American Tower Corporation has a 12-month low of $160.06 and a 12-month 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 $81.33 billion, a price-to-earnings ratio of 24.01, a PEG ratio of 2.73 and a beta of 0.90. The business’s 50 day moving average is $171.75 and its 200 day moving average is $177.79.

American Tower (NYSE:AMT) last issued 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 firm had revenue of $2.75 billion for the quarter, compared to analysts’ expectations of $2.70 billion. American Tower had a return on equity of 32.76% and a net margin of 31.08%.The business’s revenue for the quarter was up 4.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.60 EPS. American Tower has set its FY 2026 guidance at 11.000-11.170 EPS. On average, sell-side analysts forecast that American Tower Corporation will post 10.78 earnings per share for the current fiscal year.

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.