Connor Clark & Lunn Investment Management Ltd. Acquires 43,914 Shares of American Tower Corporation $AMT

Connor Clark & Lunn Investment Management Ltd. lifted its holdings in American Tower Corporation (NYSE:AMT) by 23.1% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 233,828 shares of the real estate investment trust’s stock after acquiring an additional 43,914 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in American Tower were worth $38,247,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Oakworth Capital Inc. lifted its holdings in American Tower by 90.7% in the 4th quarter. Oakworth Capital Inc. now owns 143 shares of the real estate investment trust’s stock worth $25,000 after purchasing an additional 68 shares in the last quarter. Swiss RE Ltd. purchased a new stake in American Tower during the 4th quarter valued at approximately $25,000. Allied Private Wealth LLC bought a new stake in shares of American Tower during the second quarter valued at approximately $29,000. Triumph Capital Management bought a new stake in shares of American Tower during the third quarter valued at approximately $29,000. Finally, Acumen Wealth Advisors LLC purchased a new position in shares of American Tower in the fourth quarter worth $29,000. Hedge funds and other institutional investors own 92.69% of the company’s stock.

American Tower Stock Up 1.5%

Shares of NYSE AMT opened at $178.38 on Tuesday. American Tower Corporation has a 1 year low of $160.06 and a 1 year high of $211.91. The firm has a 50-day simple moving average of $171.11 and a two-hundred day simple moving average of $177.82. The company has a market cap of $83.12 billion, a P/E ratio of 24.54, a PEG ratio of 2.78 and a beta of 0.90. The company has a debt-to-equity ratio of 3.12, a current ratio of 0.52 and a quick ratio of 0.52.

American Tower (NYSE:AMT) last issued its earnings results on Tuesday, July 28th. The real estate investment trust reported $2.71 earnings per share (EPS) 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 analyst estimates 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 previous year, the firm earned $2.60 earnings per share. American Tower has set its FY 2026 guidance at 11.000-11.170 EPS. Research analysts anticipate that American Tower Corporation will post 10.8 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms recently weighed in on AMT. The Goldman Sachs Group set a $210.00 target price on shares of American Tower in a research note on Tuesday, July 28th. Weiss Ratings raised shares of American Tower from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, July 14th. Citizens Jmp restated a “market outperform” rating and set a $260.00 price objective on shares of American Tower in a research report on Wednesday, April 29th. Raymond James Financial reaffirmed a “strong-buy” rating and issued a $240.00 target price on shares of American Tower in a report on Wednesday, April 29th. Finally, BMO Capital Markets increased their price target 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. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $215.29.

Insider Activity

In related news, EVP Ruth T. Dowling sold 1,106 shares of the company’s stock in a transaction dated 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 directly owned 27,711 shares of the company’s stock, valued at $4,848,316.56. This represents a 3.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing 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 stock in a transaction dated 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 in the company, valued at approximately $3,833,254.92. The trade was a 18.92% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 6,791 shares of company stock valued at $1,204,091 over the last 90 days. 0.08% of the stock is currently owned by corporate insiders.

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.