Empowered Funds LLC Acquires New Stake in American Tower Corporation $AMT

Empowered Funds LLC bought a new position in shares of American Tower Corporation (NYSE:AMT) during the 2nd quarter, HoldingsChannel reports. The institutional investor bought 31,020 shares of the real estate investment trust’s stock, valued at approximately $5,074,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Swiss RE Ltd. acquired a new position in American Tower in the 4th quarter valued at about $25,000. Allied Private Wealth LLC acquired a new stake in shares of American Tower during the second quarter worth about $29,000. Triumph Capital Management purchased a new position in shares of American Tower in the third quarter valued at approximately $29,000. Acumen Wealth Advisors LLC purchased a new position in shares of American Tower in the fourth quarter valued at approximately $29,000. Finally, Lloyd Advisory Services LLC. acquired a new position in shares of American Tower in the fourth quarter valued at approximately $30,000. 92.69% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at American Tower

In related news, CFO Robert Joseph Meyer sold 5,000 shares of the business’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 completion of the sale, 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 document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Rajesh Kalathur purchased 2,829 shares of the company’s stock in a transaction on Friday, August 21st. The stock was bought at an average price of $177.00 per share, for a total transaction of $500,733.00. Following the completion of the purchase, the director directly owned 7,765 shares of the company’s stock, valued at $1,374,405. The trade was a 57.31% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last 90 days, insiders have sold 6,791 shares of company stock valued at $1,204,091. Corporate insiders own 0.08% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on AMT. Scotiabank reaffirmed an “outperform” rating on shares of American Tower in a research note on Wednesday, July 29th. Mizuho set a $208.00 price objective on American Tower in a research note on Thursday, August 20th. Jefferies Financial Group decreased 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. Weiss Ratings raised American Tower from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, July 14th. Finally, The Goldman Sachs Group set a $210.00 price target on American Tower in a research report on Tuesday, July 28th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, American Tower has a consensus rating of “Moderate Buy” and a consensus target price of $215.29.

American Tower Stock Performance

Shares of AMT stock opened at $175.94 on Tuesday. The company has a market cap of $81.98 billion, a P/E ratio of 24.20, a PEG ratio of 2.79 and a beta of 0.90. The firm has a fifty day moving average price of $170.86 and a 200 day moving average price of $177.88. 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 $205.21.

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, beating analysts’ consensus estimates 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%.American Tower’s quarterly revenue was up 4.6% on a year-over-year basis. During the same period last year, the firm earned $2.60 earnings per share. American Tower has set its FY 2026 guidance at 11.000-11.170 EPS. Sell-side analysts predict that American Tower Corporation will post 10.8 earnings per share for the current fiscal year.

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.