Waverly Advisors LLC Has $8.72 Million Holdings in American Tower Corporation $AMT

Waverly Advisors LLC raised its position in shares of American Tower Corporation (NYSE:AMT) by 16.7% in the second quarter, Holdings Channel reports. The firm owned 53,328 shares of the real estate investment trust’s stock after buying an additional 7,649 shares during the period. Waverly Advisors LLC’s holdings in American Tower were worth $8,723,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in AMT. Operose Advisors LLC acquired a new position in American Tower in the second quarter worth approximately $25,000. Swiss RE Ltd. acquired a new stake in American Tower in the fourth quarter valued at approximately $25,000. Allied Private Wealth LLC bought a new stake in American Tower in the second quarter worth approximately $29,000. Triumph Capital Management acquired a new position in shares of American Tower during the 3rd quarter worth $29,000. Finally, Acumen Wealth Advisors LLC acquired a new position in shares of American Tower during the 4th quarter worth $29,000. Institutional investors own 92.69% of the company’s stock.

Insider Buying and Selling at American Tower

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

American Tower Stock Performance

Shares of NYSE:AMT opened at $175.57 on Thursday. The stock has a market capitalization of $81.81 billion, a price-to-earnings ratio of 24.15, a price-to-earnings-growth ratio of 2.82 and a beta of 0.89. The company has a debt-to-equity ratio of 3.12, a current ratio of 0.52 and a quick ratio of 0.52. The business’s fifty day moving average price is $171.52 and its two-hundred day moving average price is $177.26. American Tower Corporation has a fifty-two week low of $160.06 and a fifty-two week high of $199.13.

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, topping the consensus estimate of $1.57 by $1.14. The company 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% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.60 earnings per share. American Tower has set its FY 2026 guidance at 11.000-11.170 EPS. As a group, analysts predict that American Tower Corporation will post 10.8 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on AMT shares. BMO Capital Markets lifted their price objective on shares of American Tower from $190.00 to $195.00 and gave the company a “market perform” rating in a research note on Wednesday, July 29th. Scotiabank reissued an “outperform” rating on shares of American Tower in a report on Wednesday, July 29th. The Goldman Sachs Group set a $210.00 price objective on American Tower in a research note on Tuesday, July 28th. Jefferies Financial Group reduced their target price on American Tower from $210.00 to $201.00 and set a “buy” rating for the company in a report on Wednesday, July 15th. Finally, Truist Financial reaffirmed a “buy” rating and set a $207.00 target price (down from $208.00) on shares of American Tower in a research report on Wednesday, August 12th. 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 data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $215.29.

American Tower Profile

American Tower Corporation (NYSE:AMT) is a global owner, operator and developer of wireless communications infrastructure. The company leases space on communications sites, including towers, rooftops and other structures, to wireless carriers, broadcasters, government agencies and other customers. Its infrastructure supports wireless networks and the transmission of voice, data and video services.

In addition to traditional macro towers, American Tower provides distributed antenna systems and other in-building or venue-based communications solutions designed to improve wireless coverage and capacity.