Impax Asset Management Group plc Has $3.54 Million Holdings in American Tower Corporation $AMT

Impax Asset Management Group plc reduced its position in shares of American Tower Corporation (NYSE:AMT) by 71.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,623 shares of the real estate investment trust’s stock after selling 54,603 shares during the period. Impax Asset Management Group plc’s holdings in American Tower were worth $3,537,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in AMT. Riverwater Partners LLC increased its stake in shares of American Tower by 3.8% in the 4th quarter. Riverwater Partners LLC now owns 1,536 shares of the real estate investment trust’s stock valued at $270,000 after purchasing an additional 56 shares during the last quarter. Triumph Capital Management raised its holdings in shares of American Tower by 37.3% during the 4th quarter. Triumph Capital Management now owns 206 shares of the real estate investment trust’s stock worth $36,000 after buying an additional 56 shares in the last quarter. Twin City Private Wealth LLC lifted its position in shares of American Tower by 0.7% during the 4th quarter. Twin City Private Wealth LLC now owns 7,799 shares of the real estate investment trust’s stock worth $1,382,000 after buying an additional 58 shares during the last quarter. Asset Advisory Group Inc. lifted its position in shares of American Tower by 3.0% during the 1st quarter. Asset Advisory Group Inc. now owns 2,072 shares of the real estate investment trust’s stock worth $358,000 after buying an additional 60 shares during the last quarter. Finally, Argent Advisors Inc. boosted its stake in American Tower by 0.9% in the fourth quarter. Argent Advisors Inc. now owns 6,625 shares of the real estate investment trust’s stock valued at $1,163,000 after buying an additional 61 shares in the last quarter. 92.69% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other American Tower news, CFO Robert Joseph Meyer sold 5,000 shares of the business’s stock in a transaction on Wednesday, July 29th. The shares were sold at an average price of $178.89, for a total transaction of $894,450.00. Following the completion of the sale, the chief financial officer owned 21,428 shares in the company, valued at approximately $3,833,254.92. The trade was a 18.92% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Ruth T. Dowling sold 1,106 shares of the company’s 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 transaction, the executive vice president owned 27,711 shares in the company, valued at approximately $4,848,316.56. The trade was 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 have sold 6,791 shares of company stock worth $1,204,091 over the last ninety days. 0.08% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research firms have issued reports on AMT. JPMorgan Chase & Co. decreased their target price on American Tower from $245.00 to $240.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 29th. TD Cowen increased their target price on shares of American Tower from $225.00 to $227.00 and gave the stock a “buy” rating in a report on Wednesday, July 29th. Royal Bank Of Canada upgraded shares of American Tower from a “sector perform” rating to an “outperform” rating and raised their price target for the company from $195.00 to $205.00 in a research note on Friday, June 26th. Scotiabank reaffirmed an “outperform” rating on shares of American Tower in a report on Wednesday, July 29th. Finally, Jefferies Financial Group lowered their price objective on shares of American Tower from $210.00 to $201.00 and set a “buy” rating for the company in a research report on Wednesday, July 15th. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $215.29.

American Tower Stock Performance

Shares of American Tower stock opened at $175.99 on Friday. The business has a 50-day simple moving average of $171.48 and a 200 day simple moving average of $177.77. American Tower Corporation has a one year low of $160.06 and a one 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 capitalization of $82.00 billion, a price-to-earnings ratio of 24.21, a PEG ratio of 2.77 and a beta of 0.90.

American Tower (NYSE:AMT) last announced its quarterly earnings results on Tuesday, July 28th. The real estate investment trust reported $2.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.57 by $1.14. American Tower had a return on equity of 32.76% and a net margin of 31.08%.The business had revenue of $2.75 billion for the quarter, compared to analyst estimates of $2.70 billion. During the same quarter in the prior year, the company earned $2.60 earnings per share. The company’s quarterly revenue was up 4.6% on a year-over-year basis. 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 10.78 earnings per share for the current fiscal year.

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.