Jupiter Topco LLC Buys New Stake in American Tower Corporation $AMT

Jupiter Topco LLC purchased a new stake in shares of American Tower Corporation (NYSE:AMT) during the second quarter, Holdings Channel.com reports. The institutional investor purchased 56,539 shares of the real estate investment trust’s stock, valued at approximately $9,246,000.

Other institutional investors have also bought and sold shares of the company. Swiss RE Ltd. bought a new stake in American Tower during the fourth quarter worth approximately $25,000. Triumph Capital Management bought a new position in American Tower during the 3rd quarter valued at $29,000. Acumen Wealth Advisors LLC acquired a new position in shares of American Tower during the 4th quarter valued at $29,000. Lloyd Advisory Services LLC. acquired a new position in shares of American Tower during the 4th quarter valued at $30,000. Finally, Allied Private Wealth LLC bought a new stake in shares of American Tower in the 2nd quarter worth $29,000. Institutional investors and hedge funds own 92.69% of the company’s stock.

American Tower Price Performance

Shares of American Tower stock opened at $176.25 on Monday. 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 firm has a fifty day moving average price of $170.87 and a two-hundred day moving average price of $177.90. American Tower Corporation has a fifty-two week low of $160.06 and a fifty-two week high of $205.21. The company has a market cap of $82.13 billion, a PE ratio of 24.24, a price-to-earnings-growth ratio of 2.79 and a beta of 0.90.

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 (EPS) for the quarter, beating the consensus estimate of $1.57 by $1.14. American Tower had a return on equity of 32.76% and a net margin of 31.08%.The firm had revenue of $2.75 billion for the quarter, compared to analyst estimates of $2.70 billion. During the same period in the previous year, the company posted $2.60 earnings per share. The company’s quarterly revenue was up 4.6% compared to the same quarter last year. American Tower has set its FY 2026 guidance at 11.000-11.170 EPS. Analysts expect that American Tower Corporation will post 10.8 EPS for the current year.

Analyst Ratings Changes

A number of research firms recently commented on AMT. Scotiabank reiterated an “outperform” rating on shares of American Tower in a report on Wednesday, July 29th. Wolfe Research upgraded American Tower from a “peer perform” rating to an “outperform” rating and set a $188.00 price objective for the company in a research report on Wednesday, July 8th. TD Cowen boosted their price target on shares of American Tower from $225.00 to $227.00 and gave the company a “buy” rating in a report on Wednesday, July 29th. Weiss Ratings raised American Tower from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, July 14th. Finally, Sanford C. Bernstein reissued an “outperform” rating and set a $214.00 target price on shares of American Tower in a research report on Wednesday, July 29th. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $215.29.

Insider Activity

In related news, CFO Robert Joseph Meyer sold 5,000 shares of the company’s stock in a transaction dated Wednesday, July 29th. The shares were sold at an average price of $178.89, for a total value of $894,450.00. Following the sale, the chief financial officer owned 21,428 shares of the company’s stock, 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 legal filing with the SEC, which is available through this hyperlink. Also, EVP Ruth T. Dowling sold 1,106 shares of the company’s stock in a transaction that occurred on Wednesday, July 29th. The shares were sold at an average price of $174.96, for a total value of $193,505.76. Following the completion of the sale, the executive vice president owned 27,711 shares in the company, valued at approximately $4,848,316.56. This represents a 3.84% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 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 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.