Wedbush Fund Advisers LLC Makes New $607,000 Investment in American Tower Corporation $AMT

Wedbush Fund Advisers LLC bought a new stake in shares of American Tower Corporation (NYSE:AMT) in the 2nd quarter, Holdings Channel reports. The institutional investor bought 3,710 shares of the real estate investment trust’s stock, valued at approximately $607,000.

A number of other large investors also recently made changes to their positions in the stock. BlackRock Inc. bought a new position in American Tower during the second quarter worth about $7,490,943,000. J. Stern & Co. LLP raised its position in shares of American Tower by 28,121.1% in the 4th quarter. J. Stern & Co. LLP now owns 37,686,978 shares of the real estate investment trust’s stock valued at $6,616,703,000 after acquiring an additional 37,553,436 shares during the period. Northwestern Mutual Wealth Management Co. raised its position in shares of 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 valued at $1,705,254,000 after acquiring an additional 9,666,025 shares during the period. Deutsche Bank AG bought a new position in American Tower during the 2nd quarter worth approximately $1,096,186,000. Finally, Norges Bank acquired a new position in American Tower during the fourth quarter valued at approximately $1,171,180,000. Institutional investors and hedge funds own 92.69% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Ruth T. Dowling sold 1,106 shares of the company’s stock in a transaction dated Wednesday, July 29th. The shares were sold at an average price of $174.96, for a total value of $193,505.76. Following the sale, the executive vice president directly owned 27,711 shares of the company’s stock, valued at approximately $4,848,316.56. This represents a 3.84% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Robert Joseph Meyer sold 5,000 shares of the firm’s 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 completion of the sale, the chief financial officer owned 21,428 shares of the company’s stock, valued at $3,833,254.92. This trade represents a 18.92% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 6,791 shares of company stock valued at $1,204,091. 0.08% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have weighed in on AMT. Wolfe Research upgraded 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. Mizuho set a $208.00 price objective on shares of American Tower in a research report on Thursday, August 20th. Raymond James Financial reaffirmed a “strong-buy” rating and set a $240.00 price objective on shares of American Tower in a research note on Wednesday, April 29th. Royal Bank Of Canada raised American Tower from a “sector perform” rating to an “outperform” rating and boosted their target price for the company from $195.00 to $205.00 in a research note on Friday, June 26th. Finally, JPMorgan Chase & Co. lowered their price target on American Tower from $245.00 to $240.00 and set an “overweight” rating for the company in a report on Wednesday, April 29th. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $215.29.

American Tower Stock Performance

Shares of NYSE AMT opened at $178.66 on Wednesday. The company has a debt-to-equity ratio of 3.12, a quick ratio of 0.52 and a current ratio of 0.52. The stock has a 50 day moving average price of $171.00 and a 200 day moving average price of $177.83. The stock has a market capitalization of $83.25 billion, a PE ratio of 24.58, a price-to-earnings-growth ratio of 2.82 and a beta of 0.90. American Tower Corporation has a 52 week low of $160.06 and a 52 week high of $209.10.

American Tower (NYSE:AMT) last announced its quarterly earnings data 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. The company 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 business’s revenue was up 4.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.60 EPS. American Tower has set its FY 2026 guidance at 11.000-11.170 EPS. Analysts predict that American Tower Corporation will post 10.8 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.