K.J. Harrison & Partners Inc Purchases Shares of 16,500 American Tower Corporation $AMT

K.J. Harrison & Partners Inc purchased a new stake in shares of American Tower Corporation (NYSE:AMT) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 16,500 shares of the real estate investment trust’s stock, valued at approximately $2,699,000.

Several other institutional investors have also modified their holdings of AMT. Richards Merrill & Peterson Inc. bought a new position in American Tower during the fourth quarter valued at about $25,000. Oakworth Capital Inc. raised its position in American Tower by 90.7% in the fourth quarter. Oakworth Capital Inc. now owns 143 shares of the real estate investment trust’s stock worth $25,000 after acquiring an additional 68 shares in the last quarter. Swiss RE Ltd. acquired a new stake in American Tower in the 4th quarter valued at about $25,000. Allied Private Wealth LLC acquired a new stake in American Tower in the 2nd quarter valued at about $29,000. Finally, Triumph Capital Management bought a new position in shares of American Tower during the 3rd quarter valued at about $29,000. Institutional investors and hedge funds own 92.69% of the company’s stock.

Insider Activity at American Tower

In related news, 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 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 completion of the transaction, the chief financial officer directly owned 21,428 shares of the company’s stock, 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 90 days, insiders sold 6,791 shares of company stock valued at $1,204,091. 0.08% of the stock is owned by insiders.

American Tower Trading Down 2.0%

Shares of AMT opened at $172.12 on Tuesday. The business’s 50-day moving average price is $172.48 and its 200 day moving average price is $177.87. The stock has a market capitalization of $80.20 billion, a P/E ratio of 23.68, a P/E/G ratio of 2.79 and a beta of 0.90. American Tower Corporation has a 1-year low of $160.06 and a 1-year high of $214.79. 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 posted its quarterly earnings data on Tuesday, July 28th. The real estate investment trust reported $2.71 EPS for the quarter, beating analysts’ consensus estimates of $1.57 by $1.14. American Tower had a net margin of 31.08% and a return on equity of 32.76%. The company had revenue of $2.75 billion during the quarter, compared to analyst estimates of $2.70 billion. During the same period in the prior year, the firm earned $2.60 earnings per share. The business’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. Analysts expect that American Tower Corporation will post 10.78 earnings per share for the current year.

American Tower Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, July 13th. Stockholders of record on Friday, June 12th were issued a dividend of $1.79 per share. The ex-dividend date was Friday, June 12th. This represents a $7.16 dividend on an annualized basis and a dividend yield of 4.2%. American Tower’s payout ratio is currently 98.49%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on AMT. Scotiabank reaffirmed an “outperform” rating on shares of American Tower in a research note on Wednesday, July 29th. Royal Bank Of Canada upgraded shares of American Tower from a “sector perform” rating to an “outperform” rating and raised their target price for the stock from $195.00 to $205.00 in a report on Friday, June 26th. JPMorgan Chase & Co. decreased their price target on shares of American Tower from $245.00 to $240.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 29th. Raymond James Financial reaffirmed a “strong-buy” rating and issued a $240.00 price target on shares of American Tower in a report on Wednesday, April 29th. Finally, The Goldman Sachs Group set a $210.00 price objective on American Tower in a research report on Tuesday, July 28th. 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 company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $215.14.

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.