Oppenheimer Asset Management Inc. Takes $21.77 Million Position in American Tower Corporation $AMT

Oppenheimer Asset Management Inc. bought a new stake in American Tower Corporation (NYSE:AMT) in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 133,110 shares of the real estate investment trust’s stock, valued at approximately $21,773,000.

Several other institutional investors also recently added to or reduced their stakes in the company. Oakworth Capital Inc. lifted its stake in American Tower by 90.7% in the fourth quarter. Oakworth Capital Inc. now owns 143 shares of the real estate investment trust’s stock valued at $25,000 after buying an additional 68 shares during the last quarter. Richards Merrill & Peterson Inc. purchased a new position in shares of American Tower during the fourth quarter worth approximately $25,000. Swiss RE Ltd. purchased a new position in shares of American Tower during the fourth quarter worth approximately $25,000. Triumph Capital Management acquired a new position in shares of American Tower in the 3rd quarter valued at $29,000. Finally, Acumen Wealth Advisors LLC purchased a new stake in American Tower in the 4th quarter valued at $29,000. Institutional investors and hedge funds own 92.69% of the company’s stock.

American Tower Stock Performance

NYSE:AMT opened at $175.68 on Friday. The firm’s fifty day moving average price is $172.82 and its 200 day moving average price is $177.94. American Tower Corporation has a 1-year low of $160.06 and a 1-year high of $214.79. 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 firm has a market cap of $81.86 billion, a price-to-earnings ratio of 24.17, a price-to-earnings-growth ratio of 2.76 and a beta of 0.90.

American Tower (NYSE:AMT) last announced its quarterly earnings data 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. The company had revenue of $2.75 billion during the quarter, compared to the consensus estimate of $2.70 billion. American Tower had a net margin of 31.08% and a return on equity of 32.76%. American Tower’s quarterly revenue was up 4.6% on a year-over-year basis. 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. On average, sell-side analysts expect that American Tower Corporation will post 10.78 EPS for the current year.

American Tower Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, July 13th. Stockholders of record on Friday, June 12th were paid a dividend of $1.79 per share. This represents a $7.16 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date of this dividend was Friday, June 12th. American Tower’s dividend payout ratio is 98.49%.

Insider Activity at American Tower

In other American Tower news, 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 completion of the transaction, the chief financial officer owned 21,428 shares in the company, valued at approximately $3,833,254.92. This represents a 18.92% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Ruth T. Dowling sold 1,106 shares of the firm’s stock in a transaction on 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 approximately $4,848,316.56. This trade represents a 3.84% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 6,791 shares of company stock valued at $1,204,091 over the last three months. Insiders own 0.08% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on AMT shares. TD Cowen increased 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. BMO Capital Markets upped their target price 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. JPMorgan Chase & Co. decreased their target price on shares of American Tower from $245.00 to $240.00 and set an “overweight” rating for the company in a research note on Wednesday, April 29th. Scotiabank reissued an “outperform” rating on shares of American Tower in a report on Wednesday, July 29th. Finally, Wolfe Research upgraded American Tower from a “peer perform” rating to an “outperform” rating and set a $188.00 price target on the stock in a research report on Wednesday, July 8th. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $215.14.

American Tower 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.