West Family Investments Inc. Buys New Shares in American Tower Corporation $AMT

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

Several other hedge funds have also recently added to or reduced their stakes in AMT. NewEdge Wealth LLC boosted its holdings in shares of American Tower by 7.0% in the 2nd quarter. NewEdge Wealth LLC now owns 11,184 shares of the real estate investment trust’s stock worth $1,829,000 after purchasing an additional 732 shares in the last quarter. Essential Partners LLC boosted its stake in American Tower by 958.7% in the second quarter. Essential Partners LLC now owns 1,281 shares of the real estate investment trust’s stock worth $210,000 after buying an additional 1,160 shares in the last quarter. Great Lakes Advisors LLC grew its position in American Tower by 4.7% during the second quarter. Great Lakes Advisors LLC now owns 470,536 shares of the real estate investment trust’s stock valued at $76,966,000 after acquiring an additional 20,929 shares during the last quarter. Diversify Advisory Services LLC bought a new position in American Tower during the second quarter valued at approximately $1,610,000. Finally, Wealthfront Advisers LLC purchased a new position in shares of American Tower during the second quarter worth approximately $11,951,000. Institutional investors own 92.69% of the company’s stock.

American Tower Stock Up 0.9%

Shares of American Tower stock opened at $175.99 on Friday. 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 $171.48 and a 200 day moving average of $177.77. The firm has a market cap of $82.00 billion, a price-to-earnings ratio of 24.21, a PEG ratio of 2.77 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.

American Tower (NYSE:AMT) last announced its quarterly earnings data 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. 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 quarter in the prior year, the company earned $2.60 earnings per share. The business’s 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. As a group, sell-side analysts anticipate that American Tower Corporation will post 10.78 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Ruth T. Dowling sold 1,106 shares of American Tower stock in a transaction dated 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 owned 27,711 shares of the company’s stock, valued at $4,848,316.56. The trade was a 3.84% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available 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 company’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 owned 21,428 shares in the company, valued at approximately $3,833,254.92. This represents a 18.92% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 6,791 shares of company stock valued at $1,204,091 in the last quarter. 0.08% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on AMT. 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. Wolfe Research raised American Tower from a “peer perform” rating to an “outperform” rating and set a $188.00 price objective on the stock in a research note on Wednesday, July 8th. BMO Capital Markets boosted their target price on American Tower from $190.00 to $195.00 and gave the company a “market perform” rating in a research note on Wednesday, July 29th. The Goldman Sachs Group set a $210.00 price objective on shares of American Tower in a research report on Tuesday, July 28th. Finally, Royal Bank Of Canada raised shares of American Tower from a “sector perform” rating to an “outperform” rating and boosted their price objective for the company from $195.00 to $205.00 in a research report on Friday, June 26th. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, American Tower presently has an average rating of “Moderate Buy” and a consensus target price of $215.29.

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.