Saudi Central Bank Purchases 15,346 Shares of American Tower Corporation $AMT

Saudi Central Bank lifted its position in shares of American Tower Corporation (NYSE:AMT) by 9.3% in the second quarter, HoldingsChannel.com reports. The firm owned 180,106 shares of the real estate investment trust’s stock after purchasing an additional 15,346 shares during the period. Saudi Central Bank’s holdings in American Tower were worth $30,417,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of AMT. Brighton Jones LLC raised its position in American Tower by 113.0% during the 4th quarter. Brighton Jones LLC now owns 3,966 shares of the real estate investment trust’s stock valued at $727,000 after purchasing an additional 2,104 shares during the last quarter. Sivia Capital Partners LLC grew its position in shares of American Tower by 34.3% in the 2nd quarter. Sivia Capital Partners LLC now owns 1,442 shares of the real estate investment trust’s stock worth $319,000 after buying an additional 368 shares during the last quarter. United Bank increased its stake in shares of American Tower by 12.7% during the second quarter. United Bank now owns 6,488 shares of the real estate investment trust’s stock valued at $1,434,000 after buying an additional 733 shares during the period. Treasurer of the State of North Carolina raised its holdings in shares of American Tower by 2.2% during the second quarter. Treasurer of the State of North Carolina now owns 218,511 shares of the real estate investment trust’s stock valued at $48,295,000 after acquiring an additional 4,778 shares in the last quarter. Finally, Ieq Capital LLC lifted its stake in American Tower by 52.2% in the second quarter. Ieq Capital LLC now owns 34,248 shares of the real estate investment trust’s stock worth $7,570,000 after acquiring an additional 11,751 shares during the period. 92.69% of the stock is owned by institutional investors.

American Tower Stock Performance

Shares of American Tower stock opened at $175.83 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. The firm has a market capitalization of $81.93 billion, a P/E ratio of 24.19, a P/E/G ratio of 2.82 and a beta of 0.89. The business has a fifty day simple moving average of $170.94 and a two-hundred day simple moving average of $177.62. American Tower Corporation has a 12 month low of $160.06 and a 12 month high of $199.40.

American Tower (NYSE:AMT) last announced 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 firm had revenue of $2.75 billion for the quarter, compared to analysts’ expectations of $2.70 billion. American Tower had a net margin of 31.08% and a return on equity of 32.76%. The company’s quarterly revenue was up 4.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.60 EPS. American Tower has set its FY 2026 guidance at 11.000-11.170 EPS. On average, equities analysts forecast that American Tower Corporation will post 10.8 earnings per share for the current fiscal year.

Insider Buying and Selling

In other American Tower news, Director Rajesh Kalathur acquired 2,829 shares of the business’s stock in a transaction on Friday, August 21st. The shares were acquired at an average price of $177.00 per share, for a total transaction of $500,733.00. Following the completion of the acquisition, the director owned 7,765 shares in the company, valued at $1,374,405. This trade represents a 57.31% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Robert Joseph Meyer sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 29th. The shares were sold at an average price of $178.89, for a total transaction of $894,450.00. Following the transaction, the chief financial officer directly owned 21,428 shares of the company’s stock, valued at $3,833,254.92. This represents a 18.92% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 6,791 shares of company stock valued at $1,204,091 over the last quarter. Corporate insiders own 0.08% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. The Goldman Sachs Group set a $210.00 price objective on shares of American Tower in a research report on Tuesday, July 28th. 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. Scotiabank reaffirmed an “outperform” rating on shares of American Tower in a research note on Wednesday, July 29th. Mizuho set a $208.00 price target on shares of American Tower in a research report on Thursday, August 20th. Finally, Sanford C. Bernstein restated an “outperform” rating and issued a $214.00 price objective on shares of American Tower in a report on Wednesday, July 29th. 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 stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average 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.