West Family Investments Inc. Takes $474,000 Position in American Tower Corporation $AMT

West Family Investments Inc. bought a new position in shares of American Tower Corporation (NYSE:AMT) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 2,900 shares of the real estate investment trust’s stock, valued at approximately $474,000.

A number of other hedge funds have also added to or reduced their stakes in AMT. Waverly Advisors LLC boosted its stake in shares of American Tower by 16.7% during the 2nd quarter. Waverly Advisors LLC now owns 53,328 shares of the real estate investment trust’s stock worth $8,723,000 after buying an additional 7,649 shares during the last quarter. Nykredit A S acquired a new stake in shares of American Tower in the second quarter valued at about $24,126,000. Second Line Capital LLC raised its holdings in American Tower by 16.1% during the second quarter. Second Line Capital LLC now owns 18,630 shares of the real estate investment trust’s stock worth $3,077,000 after acquiring an additional 2,580 shares in the last quarter. Amundi raised its holdings in American Tower by 5.6% during the second quarter. Amundi now owns 4,045,753 shares of the real estate investment trust’s stock worth $661,757,000 after acquiring an additional 215,220 shares in the last quarter. Finally, Groupe la Francaise boosted its position in American Tower by 319.0% during the second quarter. Groupe la Francaise now owns 33,505 shares of the real estate investment trust’s stock valued at $5,481,000 after purchasing an additional 25,508 shares during the last quarter. Institutional investors own 92.69% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on AMT. The Goldman Sachs Group set a $210.00 price objective on shares of American Tower in a research report on Tuesday, July 28th. TD Cowen lifted their price target on American Tower from $225.00 to $227.00 and gave the stock a “buy” rating in a report on Wednesday, July 29th. Mizuho set a $208.00 price objective on American Tower in a research note on Thursday, August 20th. Wolfe Research upgraded American Tower from a “peer perform” rating to an “outperform” rating and set a $188.00 target price for the company in a research note on Wednesday, July 8th. Finally, Royal Bank Of Canada raised American Tower from a “sector perform” rating to an “outperform” rating and boosted their target price for the stock from $195.00 to $205.00 in a report on Friday, June 26th. One investment 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 stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $215.29.

Insider Buying and Selling

In related news, Director Rajesh Kalathur purchased 2,829 shares of the firm’s stock in a transaction dated Friday, August 21st. The stock was bought at an average price of $177.00 per share, with a total value of $500,733.00. Following the completion of the purchase, the director owned 7,765 shares in the company, valued at approximately $1,374,405. This represents a 57.31% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Robert Joseph Meyer sold 5,000 shares of the firm’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 transaction, the chief financial officer owned 21,428 shares of the company’s stock, valued at approximately $3,833,254.92. The trade was a 18.92% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 6,791 shares of company stock valued at $1,204,091 in the last three months. Insiders own 0.08% of the company’s stock.

American Tower Stock Performance

NYSE:AMT opened at $175.77 on Wednesday. American Tower Corporation has a twelve month low of $160.06 and a twelve month high of $199.13. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 3.12. The stock’s 50-day simple moving average is $171.33 and its 200 day simple moving average is $177.33. The firm has a market capitalization of $81.90 billion, a PE ratio of 24.18, a price-to-earnings-growth ratio of 2.82 and a beta of 0.89.

American Tower (NYSE:AMT) last posted its 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 firm had revenue of $2.75 billion for the quarter, compared to analysts’ expectations of $2.70 billion. American Tower had a net margin of 31.08% and a return on equity of 32.76%. The company’s revenue was up 4.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.60 earnings per share. American Tower has set its FY 2026 guidance at 11.000-11.170 EPS. On average, analysts anticipate that American Tower Corporation will post 10.8 EPS for the current fiscal year.

American Tower Profile

American Tower Corporation (NYSE:AMT) is a global owner, operator and developer of wireless communications infrastructure. The company leases space on communications sites, including towers, rooftops and other structures, to wireless carriers, broadcasters, government agencies and other customers. Its infrastructure supports wireless networks and the transmission of voice, data and video services.

In addition to traditional macro towers, American Tower provides distributed antenna systems and other in-building or venue-based communications solutions designed to improve wireless coverage and capacity.