Rajesh Kalathur Acquires 2,829 Shares of American Tower (NYSE:AMT) Stock

American Tower Corporation (NYSE:AMT) Director Rajesh Kalathur purchased 2,829 shares of American Tower stock in a transaction that occurred on Friday, August 21st. The stock was purchased at an average price of $177.00 per share, with a total value of $500,733.00. Following the completion of the purchase, the director directly owned 7,765 shares in the company, valued at $1,374,405. This trade represents a 57.31% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

American Tower Stock Performance

AMT stock traded up $0.27 during trading hours on Tuesday, hitting $178.66. 1,400,582 shares of the stock were exchanged, compared to its average volume of 3,132,643. American Tower Corporation has a 12 month low of $160.06 and a 12 month high of $209.10. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 3.12. The firm has a market capitalization of $83.25 billion, a P/E ratio of 24.58, a P/E/G ratio of 2.78 and a beta of 0.90. The company has a 50-day simple moving average of $171.11 and a two-hundred day simple moving average of $177.82.

American Tower (NYSE:AMT) last announced its earnings results on Tuesday, July 28th. The real estate investment trust reported $2.71 earnings per share (EPS) for the quarter, beating 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 in the previous year, the business posted $2.60 earnings per share. American Tower’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, analysts forecast that American Tower Corporation will post 10.8 earnings per share for the current fiscal year.

Hedge Funds Weigh In On American Tower

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Oakworth Capital Inc. increased 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 acquiring an additional 68 shares during the last quarter. Operose Advisors LLC acquired a new stake in shares of American Tower in the 2nd quarter valued at $25,000. Swiss RE Ltd. acquired a new stake in shares of American Tower in the 4th quarter valued at $25,000. Allied Private Wealth LLC bought a new position in shares of American Tower in the 2nd quarter valued at $29,000. Finally, Triumph Capital Management bought a new position in shares of American Tower in the 3rd quarter valued at $29,000. 92.69% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on AMT shares. Wolfe Research raised shares of American Tower from a “peer perform” rating to an “outperform” rating and set a $188.00 target price on the stock in a report on Wednesday, July 8th. Weiss Ratings upgraded American Tower from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, July 14th. Citizens Jmp reissued a “market outperform” rating and set a $260.00 price target on shares of American Tower in a research report on Wednesday, April 29th. Truist Financial reaffirmed a “buy” rating and issued a $207.00 price objective (down from $208.00) on shares of American Tower in a report on Wednesday, August 12th. Finally, Scotiabank reiterated an “outperform” rating on shares of American Tower in a research report on Wednesday, July 29th. 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. Based on data from MarketBeat, American Tower currently has an average rating of “Moderate Buy” and an average target price of $215.29.

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.