Rakuten Investment Management Inc. Buys Shares of 76,213 American Tower Corporation $AMT

Rakuten Investment Management Inc. bought a new stake in American Tower Corporation (NYSE:AMT) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 76,213 shares of the real estate investment trust’s stock, valued at approximately $12,855,000.

Several other large investors have also made changes to their positions in the company. BlackRock Inc. acquired a new position in American Tower during the second quarter valued at approximately $7,490,943,000. J. Stern & Co. LLP boosted its holdings in shares of American Tower by 28,121.1% in the 4th quarter. J. Stern & Co. LLP now owns 37,686,978 shares of the real estate investment trust’s stock valued at $6,616,703,000 after purchasing an additional 37,553,436 shares in the last quarter. State Street Corp increased its stake in shares of American Tower by 0.3% in the 4th quarter. State Street Corp now owns 20,987,534 shares of the real estate investment trust’s stock valued at $3,719,634,000 after purchasing an additional 71,605 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of American Tower by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 13,499,035 shares of the real estate investment trust’s stock valued at $2,361,675,000 after purchasing an additional 227,361 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. raised its holdings in shares of American Tower by 20,721.6% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 9,712,672 shares of the real estate investment trust’s stock worth $1,705,254,000 after buying an additional 9,666,025 shares in the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

American Tower Trading Up 1.2%

NYSE AMT opened at $176.25 on Friday. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 3.12. American Tower Corporation has a twelve month low of $160.06 and a twelve month high of $205.21. The company has a market cap of $82.13 billion, a price-to-earnings ratio of 24.24, a price-to-earnings-growth ratio of 2.76 and a beta of 0.90. The business’s fifty day moving average is $170.87 and its 200 day moving average is $177.87.

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, topping analysts’ consensus estimates of $1.57 by $1.14. The business had revenue of $2.75 billion during the quarter, compared to analysts’ expectations of $2.70 billion. American Tower had a return on equity of 32.76% and a net margin of 31.08%.The business’s revenue for the quarter was up 4.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.60 EPS. American Tower has set its FY 2026 guidance at 11.000-11.170 EPS. As a group, sell-side analysts expect that American Tower Corporation will post 10.8 EPS for the current fiscal year.

Insider Transactions at American Tower

In related news, EVP Ruth T. Dowling sold 1,106 shares of American Tower stock in a transaction that occurred on Wednesday, July 29th. The shares were sold at an average price of $174.96, for a total transaction of $193,505.76. Following the sale, the executive vice president directly owned 27,711 shares in the company, valued at $4,848,316.56. This trade represents a 3.84% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Robert Joseph Meyer sold 5,000 shares of the business’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 sale, the chief financial officer directly owned 21,428 shares in the company, valued at $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. Over the last three months, insiders have sold 6,791 shares of company stock worth $1,204,091. Insiders own 0.08% of the company’s stock.

Analysts Set New Price Targets

AMT has been the subject of several recent analyst reports. The Goldman Sachs Group set a $210.00 price objective on American Tower in a research report on Tuesday, July 28th. Wolfe Research upgraded American Tower from a “peer perform” rating to an “outperform” rating and set a $188.00 target price on the stock in a research report on Wednesday, July 8th. Weiss Ratings raised American Tower from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, July 14th. Sanford C. Bernstein restated an “outperform” rating and issued a $214.00 price target on shares of American Tower in a research note on Wednesday, July 29th. Finally, Mizuho set a $208.00 price objective on shares of American Tower in a research report on Thursday, August 20th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, American Tower presently has a consensus rating of “Moderate Buy” and a consensus target price of $215.29.

About American Tower

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.