Syntax Research Inc. Has $791,000 Stake in American Tower Corporation $AMT

Syntax Research Inc. trimmed its position in shares of American Tower Corporation (NYSE:AMT) by 65.3% in the second quarter, Holdings Channel reports. The fund owned 4,836 shares of the real estate investment trust’s stock after selling 9,089 shares during the quarter. American Tower comprises approximately 0.6% of Syntax Research Inc.’s investment portfolio, making the stock its 29th biggest holding. Syntax Research Inc.’s holdings in American Tower were worth $791,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. BlackRock Inc. acquired a new position in shares of American Tower during the 2nd quarter worth about $7,490,943,000. J. Stern & Co. LLP boosted its stake in American Tower by 28,121.1% during 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 during the period. State Street Corp grew its holdings in 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 buying an additional 71,605 shares during the last quarter. Geode Capital Management LLC increased its position in 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 worth $2,361,675,000 after buying an additional 227,361 shares during the period. Finally, Northwestern Mutual Wealth Management Co. increased its position in American Tower by 20,721.6% in 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 during the period. 92.69% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Rajesh Kalathur acquired 2,829 shares of the business’s stock in a transaction on Friday, August 21st. The stock was bought at an average cost of $177.00 per share, with a total value of $500,733.00. Following the completion of the acquisition, the director owned 7,765 shares in the company, valued at $1,374,405. The trade was a 57.31% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Ruth Dowling sold 1,106 shares of the company’s stock in a transaction dated Wednesday, July 29th. The stock was sold at an average price of $174.96, for a total transaction of $193,505.76. Following the completion of the sale, the executive vice president directly owned 27,711 shares in the company, valued at approximately $4,848,316.56. The trade was a 3.84% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 6,791 shares of company stock worth $1,204,091 over the last three months. 0.08% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on AMT shares. Royal Bank Of Canada raised American Tower from a “sector perform” rating to an “outperform” rating and increased their price objective for the company from $195.00 to $205.00 in a research report on Friday, June 26th. Wolfe Research upgraded shares of 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. BMO Capital Markets increased their price target on shares of American Tower from $190.00 to $195.00 and gave the company a “market perform” rating in a report on Wednesday, July 29th. The Goldman Sachs Group set a $210.00 price target on shares of American Tower in a research report on Tuesday, July 28th. Finally, Sanford C. Bernstein restated an “outperform” rating and set a $214.00 price objective on shares of American Tower in a report on Wednesday, July 29th. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $215.29.

American Tower Stock Up 2.7%

NYSE AMT opened at $177.51 on Friday. American Tower Corporation has a 1-year low of $160.06 and a 1-year high of $199.40. The company has a market capitalization of $82.71 billion, a price-to-earnings ratio of 24.42, a PEG ratio of 2.78 and a beta of 0.89. The stock’s 50 day moving average is $170.93 and its two-hundred day moving average is $177.64. 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 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%.American Tower’s quarterly revenue was up 4.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.60 EPS. American Tower has set its FY 2026 guidance at 11.000-11.170 EPS. Equities analysts forecast that American Tower Corporation will post 10.8 earnings per share for the current fiscal year.

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.