Rakuten Investment Management Inc. Purchases Shares of 76,213 American Tower Corporation $AMT

Rakuten Investment Management Inc. purchased a new stake in American Tower Corporation (NYSE:AMT) in the 2nd quarter, HoldingsChannel reports. The fund purchased 76,213 shares of the real estate investment trust’s stock, valued at approximately $12,855,000.

Other hedge funds also recently made changes to their positions in the company. RB Capital Management LLC acquired a new position in shares of American Tower in the second quarter worth approximately $501,000. Glenview Trust Co bought a new stake in American Tower in the second quarter valued at approximately $287,000. Empowered Funds LLC acquired a new stake in American Tower during the 2nd quarter valued at approximately $5,074,000. United Capital Financial Advisors LLC acquired a new stake in American Tower during the 2nd quarter valued at approximately $16,204,000. Finally, Caitlin John LLC bought a new position in American Tower during the 2nd quarter worth approximately $38,000. 92.69% of the stock is currently owned by institutional investors.

Insider Buying and Selling at American Tower

In related news, EVP Ruth T. Dowling sold 1,106 shares of American Tower stock in a transaction on Wednesday, July 29th. The stock was 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 approximately $4,848,316.56. This trade represents a 3.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Rajesh Kalathur purchased 2,829 shares of the business’s stock in a transaction that occurred on Friday, August 21st. The stock was bought at an average cost of $177.00 per share, for a total transaction of $500,733.00. Following the completion of the acquisition, the director directly owned 7,765 shares in the company, valued at $1,374,405. The trade was a 57.31% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last three months, insiders have sold 6,791 shares of company stock worth $1,204,091. Corporate insiders own 0.08% of the company’s stock.

American Tower Stock Performance

Shares of AMT opened at $176.25 on Friday. American Tower Corporation has a one year low of $160.06 and a one year high of $205.21. The company has a market cap of $82.13 billion, a PE ratio of 24.24, a P/E/G ratio of 2.76 and a beta of 0.90. The stock has a 50-day moving average of $170.87 and a 200-day moving average of $177.87. The company has a debt-to-equity ratio of 3.12, a current ratio of 0.52 and a quick ratio of 0.52.

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 for the quarter, compared to the consensus estimate of $2.70 billion. American Tower had a return on equity of 32.76% and a net margin of 31.08%.The firm’s revenue for the quarter was up 4.6% on a year-over-year basis. During the same period in the prior year, the business earned $2.60 EPS. American Tower has set its FY 2026 guidance at 11.000-11.170 EPS. On average, equities research analysts predict that American Tower Corporation will post 10.8 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have recently commented on AMT. Mizuho set a $208.00 price objective on shares of American Tower in a research note on Thursday, August 20th. BMO Capital Markets lifted their target price on shares of American Tower from $190.00 to $195.00 and gave the stock a “market perform” rating in a research note on Wednesday, July 29th. Sanford C. Bernstein restated an “outperform” rating and issued a $214.00 target price on shares of American Tower in a report on Wednesday, July 29th. TD Cowen lifted their price objective on American Tower from $225.00 to $227.00 and gave the stock a “buy” rating in a research report on Wednesday, July 29th. Finally, Truist Financial reaffirmed a “buy” rating and set a $207.00 price objective (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 given a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $215.29.

About American Tower

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.