Empowered Funds LLC Buys Shares of 31,020 American Tower Corporation $AMT

Empowered Funds LLC purchased a new position in American Tower Corporation (NYSE:AMT) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 31,020 shares of the real estate investment trust’s stock, valued at approximately $5,074,000.

Other hedge funds have also recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new stake in shares of American Tower during the second quarter worth $7,490,943,000. J. Stern & Co. LLP boosted its position in American Tower by 28,121.1% during 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 during the last quarter. State Street Corp grew its stake in American Tower by 0.3% during 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 acquiring an additional 71,605 shares in the last quarter. Geode Capital Management LLC raised its holdings 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 valued at $2,361,675,000 after acquiring an additional 227,361 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. lifted its stake 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 purchasing an additional 9,666,025 shares in the last quarter. 92.69% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at American Tower

In other American Tower news, Director Rajesh Kalathur purchased 2,829 shares of the stock in a transaction dated Friday, August 21st. The stock was acquired at an average cost of $177.00 per share, for a total transaction of $500,733.00. Following the acquisition, the director owned 7,765 shares in the company, valued at $1,374,405. This trade represents a 57.31% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Robert Joseph Meyer sold 5,000 shares of American Tower stock in a transaction dated Wednesday, July 29th. The shares were sold at an average price of $178.89, for a total transaction of $894,450.00. Following the sale, the chief financial officer owned 21,428 shares of the company’s stock, valued at approximately $3,833,254.92. This represents a 18.92% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 6,791 shares of company stock worth $1,204,091. 0.08% of the stock is currently owned by company insiders.

American Tower Stock Down 0.2%

Shares of NYSE AMT opened at $175.94 on Tuesday. The company has a market capitalization of $81.98 billion, a P/E ratio of 24.20, a P/E/G ratio of 2.79 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. The company has a 50 day simple moving average of $170.86 and a 200-day simple moving average of $177.88. American Tower Corporation has a 1 year low of $160.06 and a 1 year high of $205.21.

American Tower (NYSE:AMT) last released its quarterly earnings data on Tuesday, July 28th. The real estate investment trust reported $2.71 EPS for the quarter, beating analysts’ consensus estimates of $1.57 by $1.14. The firm had revenue of $2.75 billion for 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 firm’s quarterly revenue was up 4.6% on a year-over-year basis. During the same period in the prior year, the firm posted $2.60 earnings per share. American Tower has set its FY 2026 guidance at 11.000-11.170 EPS. On average, equities research analysts predict that American Tower Corporation will post 10.8 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. Sanford C. Bernstein restated an “outperform” rating and issued a $214.00 price target on shares of American Tower in a research report on Wednesday, July 29th. Jefferies Financial Group reduced their price objective on American Tower from $210.00 to $201.00 and set a “buy” rating on the stock in a research report on Wednesday, July 15th. Mizuho set a $208.00 price objective on American Tower in a research note on Thursday, August 20th. TD Cowen raised their target price on American Tower from $225.00 to $227.00 and gave the stock a “buy” rating in a research note on Wednesday, July 29th. Finally, Truist Financial reiterated a “buy” rating and set a $207.00 price target (down from $208.00) on shares of American Tower in a report on Wednesday, August 12th. One 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 stock. According to data from MarketBeat.com, American Tower presently has a consensus rating of “Moderate Buy” and an average 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.