Diversify Advisory Services LLC Purchases Shares of 9,657 American Tower Corporation $AMT

Diversify Advisory Services LLC purchased a new stake in American Tower Corporation (NYSE:AMT) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 9,657 shares of the real estate investment trust’s stock, valued at approximately $1,610,000.

Several other institutional investors have also recently modified their holdings of the stock. Oakworth Capital Inc. lifted its stake in American Tower by 90.7% in the 4th quarter. Oakworth Capital Inc. now owns 143 shares of the real estate investment trust’s stock valued at $25,000 after buying an additional 68 shares in the last quarter. Richards Merrill & Peterson Inc. purchased a new position in American Tower during the fourth quarter worth $25,000. Swiss RE Ltd. acquired a new position in shares of American Tower in the fourth quarter worth $25,000. Triumph Capital Management acquired a new position in shares of American Tower in the third quarter worth $29,000. Finally, Acumen Wealth Advisors LLC purchased a new stake in shares of American Tower in the fourth quarter valued at $29,000. 92.69% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms recently commented on AMT. Royal Bank Of Canada upgraded American Tower from a “sector perform” rating to an “outperform” rating and lifted their price objective for the stock from $195.00 to $205.00 in a research report on Friday, June 26th. Wolfe Research upgraded shares of American Tower from a “peer perform” rating to an “outperform” rating and set a $188.00 target price on the stock in a report on Wednesday, July 8th. Weiss Ratings raised shares of American Tower from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, July 14th. 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. Finally, Sanford C. Bernstein reissued an “outperform” rating and issued a $214.00 price objective on shares of American Tower in a research report on Wednesday, July 29th. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $215.14.

Insiders Place Their Bets

In other American Tower news, CFO Robert Joseph Meyer sold 5,000 shares of American Tower 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. This trade represents a 18.92% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Ruth T. Dowling sold 1,106 shares of the company’s stock in a transaction on Wednesday, July 29th. The stock was sold at an average price of $174.96, for a total value of $193,505.76. Following the sale, the executive vice president owned 27,711 shares of the company’s stock, valued at approximately $4,848,316.56. The trade was a 3.84% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 6,791 shares of company stock worth $1,204,091. 0.08% of the stock is owned by company insiders.

American Tower Trading Up 1.3%

NYSE AMT opened at $174.54 on Thursday. The company has a market cap of $81.33 billion, a P/E ratio of 24.01, a P/E/G ratio of 2.73 and a beta of 0.90. American Tower Corporation has a 12 month low of $160.06 and a 12 month high of $214.79. 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 company has a 50-day moving average of $171.75 and a 200-day moving average of $177.79.

American Tower (NYSE:AMT) last released its earnings results on Tuesday, July 28th. The real estate investment trust reported $2.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.57 by $1.14. American Tower had a net margin of 31.08% and a return on equity of 32.76%. The business had revenue of $2.75 billion for the quarter, compared to analysts’ expectations of $2.70 billion. During the same period last year, the company earned $2.60 earnings per share. The company’s quarterly revenue was up 4.6% on a year-over-year basis. American Tower has set its FY 2026 guidance at 11.000-11.170 EPS. As a group, equities analysts predict that American Tower Corporation will post 10.78 earnings per share for the current year.

American Tower Company 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.