Farringdon Capital Ltd. Has $289,000 Position in American Tower Corporation $AMT

Farringdon Capital Ltd. cut its holdings in shares of American Tower Corporation (NYSE:AMT) by 86.5% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,764 shares of the real estate investment trust’s stock after selling 11,275 shares during the quarter. Farringdon Capital Ltd.’s holdings in American Tower were worth $289,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the business. Brighton Jones LLC increased its position in shares of American Tower by 113.0% during the 4th quarter. Brighton Jones LLC now owns 3,966 shares of the real estate investment trust’s stock worth $727,000 after purchasing an additional 2,104 shares during the last quarter. Sivia Capital Partners LLC boosted its holdings in shares of American Tower by 34.3% in the 2nd quarter. Sivia Capital Partners LLC now owns 1,442 shares of the real estate investment trust’s stock valued at $319,000 after buying an additional 368 shares during the last quarter. United Bank boosted its holdings in shares of American Tower by 12.7% in the 2nd quarter. United Bank now owns 6,488 shares of the real estate investment trust’s stock valued at $1,434,000 after buying an additional 733 shares during the last quarter. Treasurer of the State of North Carolina grew its stake in shares of American Tower by 2.2% in the second quarter. Treasurer of the State of North Carolina now owns 218,511 shares of the real estate investment trust’s stock valued at $48,295,000 after buying an additional 4,778 shares in the last quarter. Finally, Ieq Capital LLC grew its stake in shares of American Tower by 52.2% in the second quarter. Ieq Capital LLC now owns 34,248 shares of the real estate investment trust’s stock valued at $7,570,000 after buying an additional 11,751 shares in the last quarter. 92.69% of the stock is currently owned by institutional investors and hedge funds.

American Tower Price Performance

NYSE:AMT opened at $176.36 on Friday. The company has a market cap of $82.18 billion, a P/E ratio of 24.26, a P/E/G ratio of 2.79 and a beta of 0.90. The firm’s fifty day moving average price is $171.26 and its two-hundred day moving average price is $177.76. 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.

American Tower (NYSE:AMT) last posted 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. American Tower had a net margin of 31.08% and a return on equity of 32.76%. The company had revenue of $2.75 billion during the quarter, compared to analysts’ expectations of $2.70 billion. During the same quarter last year, the company posted $2.60 EPS. American Tower’s quarterly revenue 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. Equities analysts expect that American Tower Corporation will post 10.8 earnings per share for the current year.

Insider Buying and Selling

In other news, CFO Robert Joseph Meyer sold 5,000 shares of the company’s stock in a transaction that occurred 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 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Ruth T. Dowling sold 1,106 shares of the stock in a transaction that occurred on Wednesday, July 29th. The stock was sold at an average price of $174.96, for a total value 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. 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. In the last 90 days, insiders have sold 6,791 shares of company stock valued at $1,204,091. Corporate insiders own 0.08% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on AMT. JPMorgan Chase & Co. cut their price target 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. Royal Bank Of Canada raised shares of American Tower from a “sector perform” rating to an “outperform” rating and upped their target price for the company from $195.00 to $205.00 in a 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. 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. Finally, TD Cowen boosted their price target on American Tower from $225.00 to $227.00 and gave the stock a “buy” rating in a research report on Wednesday, July 29th. One equities research 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 company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus 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.