Van ECK Associates Corp Acquires 13,875 Shares of American Tower Corporation $AMT

Van ECK Associates Corp grew its stake in American Tower Corporation (NYSE:AMT) by 7.3% during the second quarter, HoldingsChannel.com reports. The firm owned 203,505 shares of the real estate investment trust’s stock after buying an additional 13,875 shares during the period. Van ECK Associates Corp’s holdings in American Tower were worth $33,287,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in AMT. Riverwater Partners LLC lifted its stake in American Tower by 3.8% in the fourth quarter. Riverwater Partners LLC now owns 1,536 shares of the real estate investment trust’s stock valued at $270,000 after buying an additional 56 shares during the period. Triumph Capital Management increased its stake in shares of American Tower by 37.3% in the 4th quarter. Triumph Capital Management now owns 206 shares of the real estate investment trust’s stock valued at $36,000 after acquiring an additional 56 shares during the last quarter. Twin City Private Wealth LLC raised its position in shares of American Tower by 0.7% in the 4th quarter. Twin City Private Wealth LLC now owns 7,799 shares of the real estate investment trust’s stock valued at $1,382,000 after acquiring an additional 58 shares during the period. Asset Advisory Group Inc. boosted its stake in 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 acquiring an additional 60 shares during the last quarter. Finally, Argent Advisors Inc. grew its holdings in American Tower by 0.9% during 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 purchasing an additional 61 shares during the period. 92.69% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have commented on AMT. Scotiabank reaffirmed an “outperform” rating on shares of American Tower in a research note on Wednesday, July 29th. BMO Capital Markets lifted their target price on American Tower from $190.00 to $195.00 and gave the stock a “market perform” rating in a report on Wednesday, July 29th. Weiss Ratings upgraded American Tower from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, July 14th. TD Cowen boosted their price objective on American Tower from $225.00 to $227.00 and gave the company a “buy” rating in a research report on Wednesday, July 29th. Finally, Wolfe Research raised shares of American Tower from a “peer perform” rating to an “outperform” rating and set a $188.00 price target on the stock in a research note on Wednesday, July 8th. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $215.29.

Insider Activity at American Tower

In other news, EVP Ruth T. Dowling sold 1,106 shares of the company’s stock in a transaction that occurred 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 sale, the executive vice president owned 27,711 shares in the company, valued at $4,848,316.56. This represents a 3.84% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. 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 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 transaction, the chief financial officer directly owned 21,428 shares of the company’s stock, valued at $3,833,254.92. This represents a 18.92% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 6,791 shares of company stock valued at $1,204,091. 0.08% of the stock is owned by insiders.

American Tower Price Performance

Shares of AMT opened at $176.25 on Monday. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 3.12. American Tower Corporation has a twelve month low of $160.06 and a twelve month high of $205.21. The stock has a market capitalization of $82.13 billion, a P/E ratio of 24.24, a P/E/G ratio of 2.79 and a beta of 0.90. The company has a 50 day moving average of $170.87 and a 200-day moving average of $177.90.

American Tower (NYSE:AMT) last announced its earnings results on Tuesday, July 28th. The real estate investment trust reported $2.71 EPS for the quarter, topping the consensus estimate of $1.57 by $1.14. American Tower had a net margin of 31.08% and a return on equity of 32.76%. The business had revenue of $2.75 billion during the quarter, compared to analysts’ expectations of $2.70 billion. During the same quarter in the prior year, the company posted $2.60 earnings per share. The firm’s 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. As a group, equities research analysts forecast that American Tower Corporation will post 10.8 EPS 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.