Jones Financial Companies Lllp Decreases Stake in American Tower Corporation $AMT

Jones Financial Companies Lllp lessened its holdings in shares of American Tower Corporation (NYSE:AMT) by 24.9% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 268,120 shares of the real estate investment trust’s stock after selling 88,975 shares during the quarter. Jones Financial Companies Lllp owned about 0.06% of American Tower worth $46,328,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Oakworth Capital Inc. boosted its holdings in American Tower by 90.7% in the 4th quarter. Oakworth Capital Inc. now owns 143 shares of the real estate investment trust’s stock worth $25,000 after buying an additional 68 shares during the period. Swiss RE Ltd. bought a new stake in American Tower during the 4th quarter valued at $25,000. Allied Private Wealth LLC purchased a new stake in shares of American Tower during the second quarter worth $29,000. Triumph Capital Management bought a new position in shares of American Tower in the third quarter worth $29,000. Finally, Acumen Wealth Advisors LLC bought a new position in shares of American Tower in the fourth quarter worth $29,000. Institutional investors own 92.69% of the company’s stock.

American Tower Stock Up 1.5%

Shares of NYSE:AMT opened at $178.38 on Tuesday. The firm has a market capitalization of $83.12 billion, a PE ratio of 24.54, a price-to-earnings-growth ratio of 2.78 and a beta of 0.90. The company has a debt-to-equity ratio of 3.12, a quick ratio of 0.52 and a current ratio of 0.52. American Tower Corporation has a 52-week low of $160.06 and a 52-week high of $211.91. The firm has a fifty day moving average of $171.11 and a 200 day moving average of $177.82.

American Tower (NYSE:AMT) last released its quarterly earnings results on Tuesday, July 28th. The real estate investment trust reported $2.71 earnings per share for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $2.70 billion. During the same quarter last year, the business posted $2.60 earnings per share. The company’s revenue for the quarter 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, research analysts anticipate that American Tower Corporation will post 10.8 EPS for the current fiscal year.

Insiders Place Their Bets

In other American Tower news, EVP Ruth T. Dowling sold 1,106 shares of the business’s stock in a transaction on Wednesday, July 29th. The shares were sold at an average price of $174.96, for a total value of $193,505.76. Following the completion of the sale, the executive vice president directly owned 27,711 shares of the company’s stock, valued at $4,848,316.56. The trade was a 3.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at 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 value of $894,450.00. Following the transaction, the chief financial officer directly owned 21,428 shares in the company, valued at $3,833,254.92. This trade represents a 18.92% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 6,791 shares of company stock valued at $1,204,091 in the last ninety days. 0.08% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts recently issued reports on AMT shares. Jefferies Financial Group dropped their price objective on American Tower from $210.00 to $201.00 and set a “buy” rating on the stock in a report on Wednesday, July 15th. Royal Bank Of Canada raised American Tower from a “sector perform” rating to an “outperform” rating and lifted their target price for the company from $195.00 to $205.00 in a report on Friday, June 26th. Sanford C. Bernstein reissued an “outperform” rating and issued a $214.00 price target on shares of American Tower in a report on Wednesday, July 29th. Raymond James Financial restated a “strong-buy” rating and issued a $240.00 price objective on shares of American Tower in a research report on Wednesday, April 29th. Finally, JPMorgan Chase & Co. lowered their price objective 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. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and three have issued 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 an average price target 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.