Legal & General Group Plc Buys 27,929 Shares of American Tower Corporation $AMT

Legal & General Group Plc lifted its stake in American Tower Corporation (NYSE:AMT) by 0.6% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 4,853,850 shares of the real estate investment trust’s stock after acquiring an additional 27,929 shares during the period. Legal & General Group Plc owned 1.04% of American Tower worth $793,944,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Riverwater Partners LLC boosted its position in American Tower by 3.8% during the fourth quarter. Riverwater Partners LLC now owns 1,536 shares of the real estate investment trust’s stock worth $270,000 after purchasing an additional 56 shares during the period. Triumph Capital Management raised its position in shares of American Tower by 37.3% in the fourth quarter. Triumph Capital Management now owns 206 shares of the real estate investment trust’s stock valued at $36,000 after purchasing an additional 56 shares during the period. Twin City Private Wealth LLC lifted its stake in shares of American Tower by 0.7% in the fourth quarter. Twin City Private Wealth LLC now owns 7,799 shares of the real estate investment trust’s stock worth $1,382,000 after buying an additional 58 shares during the last quarter. Asset Advisory Group Inc. lifted its stake in shares of American Tower by 3.0% in the first quarter. Asset Advisory Group Inc. now owns 2,072 shares of the real estate investment trust’s stock worth $358,000 after buying an additional 60 shares during the last quarter. Finally, Argent Advisors Inc. boosted its holdings in shares of American Tower by 0.9% during the 4th quarter. Argent Advisors Inc. now owns 6,625 shares of the real estate investment trust’s stock worth $1,163,000 after buying an additional 61 shares during the period. 92.69% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, EVP Ruth T. Dowling sold 1,106 shares of the firm’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 completion of the transaction, the executive vice president directly owned 27,711 shares of the company’s stock, valued at $4,848,316.56. This trade represents a 3.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Robert Joseph Meyer sold 5,000 shares of American Tower stock in a transaction 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 represents a 18.92% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 6,791 shares of company stock valued at $1,204,091. 0.08% of the stock is owned by corporate insiders.

American Tower Trading Up 1.5%

Shares of AMT stock opened at $178.38 on Tuesday. The firm has a market capitalization of $83.12 billion, a P/E ratio of 24.54, a price-to-earnings-growth ratio of 2.78 and a beta of 0.90. American Tower Corporation has a 1 year low of $160.06 and a 1 year high of $211.91. The firm’s fifty day simple moving average is $171.11 and its 200 day simple moving average is $177.82. 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 (NYSE:AMT) last issued 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 firm had revenue of $2.75 billion during the quarter, compared to the consensus estimate of $2.70 billion. American Tower had a net margin of 31.08% and a return on equity of 32.76%. The business’s revenue was up 4.6% on a year-over-year basis. During the same period in the prior year, the firm earned $2.60 EPS. American Tower has set its FY 2026 guidance at 11.000-11.170 EPS. As a group, sell-side analysts predict that American Tower Corporation will post 10.8 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on AMT shares. 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 report on Wednesday, July 29th. Jefferies Financial Group decreased their price target on shares of American Tower from $210.00 to $201.00 and set a “buy” rating for the company in a report on Wednesday, July 15th. Scotiabank reiterated an “outperform” rating on shares of American Tower in a research note on Wednesday, July 29th. JPMorgan Chase & Co. cut their price objective on American Tower from $245.00 to $240.00 and set an “overweight” rating for the company in a research report on Wednesday, April 29th. Finally, The Goldman Sachs Group set a $210.00 target price on American Tower in a research note 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 assigned a Hold rating to the stock. According to data from MarketBeat.com, American Tower currently has a consensus rating of “Moderate Buy” and a consensus target price 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.