Nykredit A S Makes New $27.22 Million Investment in American Tower Corporation $AMT

Nykredit A S purchased a new position in shares of American Tower Corporation (NYSE:AMT) during the 2nd quarter, HoldingsChannel reports. The firm purchased 166,421 shares of the real estate investment trust’s stock, valued at approximately $27,221,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Raleigh Capital Management Inc. boosted its position in American Tower by 489.1% during the first quarter. Raleigh Capital Management Inc. now owns 13,703 shares of the real estate investment trust’s stock worth $2,365,000 after purchasing an additional 11,377 shares during the period. Canal Capital Management LLC raised its position in shares of American Tower by 81.9% in the first quarter. Canal Capital Management LLC now owns 34,471 shares of the real estate investment trust’s stock valued at $5,949,000 after purchasing an additional 15,520 shares during the period. Legal & General Group Plc lifted its stake in shares of American Tower by 4.7% in the fourth quarter. Legal & General Group Plc now owns 4,873,695 shares of the real estate investment trust’s stock worth $855,675,000 after buying an additional 220,447 shares during the last quarter. Bernzott Capital Advisors lifted its stake in shares of American Tower by 29.3% in the first quarter. Bernzott Capital Advisors now owns 42,161 shares of the real estate investment trust’s stock worth $7,276,000 after buying an additional 9,556 shares during the last quarter. Finally, BIP Wealth LLC bought a new stake in shares of American Tower during the 2nd quarter worth $1,004,000. Institutional investors and hedge funds own 92.69% of the company’s stock.

American Tower Trading Up 2.7%

Shares of AMT stock opened at $177.51 on Friday. American Tower Corporation has a 1 year low of $160.06 and a 1 year high of $199.40. The firm’s fifty day simple moving average is $170.93 and its 200 day simple moving average is $177.64. The firm has a market capitalization of $82.71 billion, a P/E ratio of 24.42, a price-to-earnings-growth ratio of 2.78 and a beta of 0.89. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 3.12.

American Tower (NYSE:AMT) last issued 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. The firm had revenue of $2.75 billion during the quarter, compared to the consensus estimate of $2.70 billion. American Tower had a net margin of 31.08% and a return on equity of 32.76%. The business’s revenue was up 4.6% on a year-over-year basis. During the same period in the prior year, the firm earned $2.60 EPS. American Tower has set its FY 2026 guidance at 11.000-11.170 EPS. As a group, sell-side analysts predict that American Tower Corporation will post 10.8 EPS for the current year.

Analyst Ratings Changes

A number of research firms recently issued reports on AMT. The Goldman Sachs Group set a $210.00 target price on shares of American Tower in a research note on Tuesday, July 28th. Royal Bank Of Canada upgraded shares of American Tower from a “sector perform” rating to an “outperform” rating and upped their price target for the company from $195.00 to $205.00 in a report on Friday, June 26th. Wolfe Research raised American Tower from a “peer perform” rating to an “outperform” rating and set a $188.00 price target on the stock in a research report on Wednesday, July 8th. Scotiabank reiterated an “outperform” rating on shares of American Tower in a research note on Wednesday, July 29th. Finally, Mizuho set a $208.00 price objective on American Tower in a research report on Thursday, August 20th. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, American Tower has an average rating of “Moderate Buy” and a consensus target price of $215.29.

Insider Activity

In related news, EVP Ruth Dowling sold 1,106 shares of the 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 completion of the sale, 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Rajesh Kalathur bought 2,829 shares of the firm’s stock in a transaction that occurred on Friday, August 21st. The shares were purchased at an average cost of $177.00 per share, for a total transaction of $500,733.00. Following the completion of the transaction, the director owned 7,765 shares of the company’s stock, valued at $1,374,405. This represents a 57.31% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last 90 days, insiders sold 6,791 shares of company stock valued at $1,204,091. Insiders own 0.08% of the company’s stock.

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.