Canada Pension Plan Investment Board Has $291.37 Million Holdings in American Tower Corporation $AMT

Canada Pension Plan Investment Board trimmed its position in American Tower Corporation (NYSE:AMT) by 25.4% in the second quarter, Holdings Channel reports. The fund owned 1,781,306 shares of the real estate investment trust’s stock after selling 605,299 shares during the quarter. Canada Pension Plan Investment Board’s holdings in American Tower were worth $291,368,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Legal & General Group Plc grew its position in American Tower by 0.6% during the 2nd quarter. Legal & General Group Plc now owns 4,853,850 shares of the real estate investment trust’s stock worth $793,944,000 after acquiring an additional 27,929 shares during the last quarter. Sone Capital Management LLC raised its position in American Tower by 373.9% in the second quarter. Sone Capital Management LLC now owns 198,247 shares of the real estate investment trust’s stock valued at $32,427,000 after purchasing an additional 156,412 shares during the last quarter. Park Place Capital Corp boosted its stake in shares of American Tower by 3.1% during the second quarter. Park Place Capital Corp now owns 14,278 shares of the real estate investment trust’s stock valued at $2,336,000 after purchasing an additional 433 shares in the last quarter. Fiduciary Financial Advisors bought a new stake in shares of American Tower during the second quarter worth about $175,000. Finally, L2 Asset Management LLC increased its stake in shares of American Tower by 5.5% in the second quarter. L2 Asset Management LLC now owns 2,661 shares of the real estate investment trust’s stock valued at $435,000 after buying an additional 138 shares during the period. Institutional investors own 92.69% of the company’s stock.

Insider Buying and Selling

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 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 filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 transaction of $193,505.76. Following the sale, the executive vice president directly owned 27,711 shares in the company, valued at $4,848,316.56. This trade 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 6,791 shares of company stock valued at $1,204,091 over the last quarter. Insiders own 0.08% of the company’s stock.

Analyst Upgrades and Downgrades

AMT has been the topic of several recent research reports. Royal Bank Of Canada upgraded shares of American Tower from a “sector perform” rating to an “outperform” rating and lifted their target price for the stock from $195.00 to $205.00 in a research report on Friday, June 26th. Truist Financial reiterated a “buy” rating and set a $207.00 price target (down from $208.00) on shares of American Tower in a report on Wednesday, August 12th. Citizens Jmp reissued a “market outperform” rating and issued a $260.00 price objective on shares of American Tower in a research note on Wednesday, April 29th. BMO Capital Markets increased their price objective on American Tower from $190.00 to $195.00 and gave the company a “market perform” rating in a report on Wednesday, July 29th. Finally, Weiss Ratings raised American Tower from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, July 14th. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, American Tower presently has a consensus rating of “Moderate Buy” and a consensus target price of $215.29.

American Tower Stock Performance

NYSE:AMT opened at $178.66 on Wednesday. The company has a debt-to-equity ratio of 3.12, a quick ratio of 0.52 and a current ratio of 0.52. American Tower Corporation has a fifty-two week low of $160.06 and a fifty-two week high of $209.10. The company has a 50 day simple moving average of $171.00 and a two-hundred day simple moving average of $177.83. The company has a market capitalization of $83.25 billion, a PE ratio of 24.58, a P/E/G ratio of 2.82 and a beta of 0.90.

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