West Family Investments Inc. Takes Position in American Tower Corporation $AMT

West Family Investments Inc. acquired a new stake in shares of American Tower Corporation (NYSE:AMT) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 2,900 shares of the real estate investment trust’s stock, valued at approximately $474,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. BlackRock Inc. bought a new position in shares of American Tower during the 2nd quarter valued at $7,490,943,000. J. Stern & Co. LLP lifted its holdings in American Tower by 28,121.1% in the fourth 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 during the period. State Street Corp boosted its position in American Tower by 0.3% in the fourth quarter. State Street Corp now owns 20,987,534 shares of the real estate investment trust’s stock worth $3,719,634,000 after purchasing an additional 71,605 shares during the last quarter. Geode Capital Management LLC boosted its position in American Tower by 1.7% in the fourth quarter. Geode Capital Management LLC now owns 13,499,035 shares of the real estate investment trust’s stock worth $2,361,675,000 after purchasing an additional 227,361 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. grew its stake in shares of American Tower by 20,721.6% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 9,712,672 shares of the real estate investment trust’s stock valued at $1,705,254,000 after purchasing an additional 9,666,025 shares during the period. Hedge funds and other institutional investors own 92.69% of the company’s stock.

American Tower Price Performance

NYSE AMT opened at $175.99 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. American Tower Corporation has a 12 month low of $160.06 and a 12 month high of $214.79. The stock has a market cap of $82.00 billion, a price-to-earnings ratio of 24.21, a PEG ratio of 2.77 and a beta of 0.90. The company’s 50 day moving average is $171.48 and its two-hundred day moving average is $177.77.

American Tower (NYSE:AMT) last posted its quarterly earnings results 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 business 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 company’s revenue was up 4.6% on a year-over-year basis. During the same period in the prior year, the business posted $2.60 earnings per share. American Tower has set its FY 2026 guidance at 11.000-11.170 EPS. As a group, research analysts anticipate that American Tower Corporation will post 10.78 earnings per share for the current year.

Insider Buying and Selling at American Tower

In other news, CFO Robert Joseph Meyer sold 5,000 shares of the business’s stock in a transaction dated 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 directly 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Ruth T. Dowling sold 1,106 shares of the stock in a transaction dated Wednesday, July 29th. The stock was sold at an average price of $174.96, for a total value of $193,505.76. Following the sale, the executive vice president owned 27,711 shares of the company’s stock, valued at $4,848,316.56. This represents a 3.84% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 6,791 shares of company stock valued at $1,204,091 in the last ninety days. 0.08% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on AMT. Scotiabank reiterated an “outperform” rating on shares of American Tower in a research note on Wednesday, July 29th. Jefferies Financial Group reduced their target price on shares of American Tower from $210.00 to $201.00 and set a “buy” rating for the company in a report on Wednesday, July 15th. Truist Financial reiterated a “buy” rating and issued a $207.00 price target (down from $208.00) on shares of American Tower in a research report on Wednesday, August 12th. Weiss Ratings upgraded shares of American Tower from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, July 14th. Finally, Wolfe Research upgraded American Tower from a “peer perform” rating to an “outperform” rating and set a $188.00 price objective for the company in a research note on Wednesday, July 8th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, American Tower currently has an average rating of “Moderate Buy” and a consensus price target of $215.29.

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.