Hsbc Holdings PLC Purchases 222,411 Shares of American Tower Corporation $AMT

Hsbc Holdings PLC lifted its holdings in American Tower Corporation (NYSE:AMT) by 13.9% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,821,488 shares of the real estate investment trust’s stock after purchasing an additional 222,411 shares during the quarter. Hsbc Holdings PLC owned 0.39% of American Tower worth $298,797,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. BlackRock Inc. bought a new stake in shares of American Tower in the 2nd quarter worth about $7,490,943,000. J. Stern & Co. LLP grew its position in American Tower by 28,121.1% in the fourth quarter. J. Stern & Co. LLP now owns 37,686,978 shares of the real estate investment trust’s stock worth $6,616,703,000 after acquiring an additional 37,553,436 shares in the last quarter. State Street Corp increased its stake in American Tower by 0.3% during the fourth quarter. State Street Corp now owns 20,987,534 shares of the real estate investment trust’s stock worth $3,719,634,000 after acquiring an additional 71,605 shares during the last quarter. Geode Capital Management LLC raised its position in American Tower by 1.7% during the fourth 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 period. Finally, Northwestern Mutual Wealth Management Co. lifted its stake in shares of 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 valued at $1,705,254,000 after purchasing an additional 9,666,025 shares during the last quarter. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on AMT shares. Weiss Ratings raised American Tower from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, July 14th. Jefferies Financial Group cut their price objective on shares of American Tower from $210.00 to $201.00 and set a “buy” rating on the stock in a research report on Wednesday, July 15th. TD Cowen lifted their price target on shares of American Tower from $225.00 to $227.00 and gave the stock a “buy” 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, Wolfe Research upgraded American Tower from a “peer perform” rating to an “outperform” rating and set a $188.00 target price for the company in a research report on Wednesday, July 8th. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $215.29.

Insiders Place Their Bets

In other American Tower news, EVP Ruth T. Dowling sold 1,106 shares of American Tower stock in a transaction on 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 of the company’s stock, valued at $4,848,316.56. The trade was a 3.84% decrease in their position. The sale was disclosed in a document filed with the SEC, 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 stock in a transaction on Wednesday, July 29th. The stock was sold at an average price of $178.89, for a total value of $894,450.00. Following the transaction, 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 position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 6,791 shares of company stock worth $1,204,091 in the last ninety days. 0.08% of the stock is owned by company insiders.

American Tower Trading Up 0.2%

AMT stock opened at $178.66 on Wednesday. American Tower Corporation has a 12 month low of $160.06 and a 12 month high of $209.10. The firm’s 50-day moving average is $171.00 and its 200 day moving average is $177.83. The company has a market capitalization of $83.25 billion, a PE ratio of 24.58, a P/E/G ratio of 2.82 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 EPS 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 the consensus estimate of $2.70 billion. During the same period in the prior year, the firm earned $2.60 EPS. The company’s revenue for the quarter 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. On average, research analysts anticipate that American Tower Corporation will post 10.8 EPS for the current 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.