Korea Investment CORP Purchases 247,967 Shares of American Tower Corporation $AMT

Korea Investment CORP increased its position in American Tower Corporation (NYSE:AMT) by 130.4% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 438,103 shares of the real estate investment trust’s stock after buying an additional 247,967 shares during the quarter. Korea Investment CORP owned 0.09% of American Tower worth $71,661,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Oakworth Capital Inc. boosted its stake in shares of American Tower by 90.7% in the 4th quarter. Oakworth Capital Inc. now owns 143 shares of the real estate investment trust’s stock valued at $25,000 after purchasing an additional 68 shares in the last quarter. Swiss RE Ltd. purchased a new position in American Tower in the 4th quarter worth $25,000. Triumph Capital Management bought a new stake in American Tower in the third quarter worth $29,000. Acumen Wealth Advisors LLC purchased a new stake in American Tower during the fourth quarter valued at about $29,000. Finally, Lloyd Advisory Services LLC. purchased a new stake in American Tower during the fourth quarter valued at about $30,000. 92.69% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently commented on AMT shares. Citizens Jmp reiterated a “market outperform” rating and issued a $260.00 price objective on shares of American Tower in a report on Wednesday, April 29th. Truist Financial restated a “buy” rating and set a $207.00 target price (down from $208.00) on shares of American Tower in a report on Wednesday, August 12th. Raymond James Financial restated a “strong-buy” rating and set a $240.00 price target on shares of American Tower in a research report on Wednesday, April 29th. Royal Bank Of Canada raised American Tower from a “sector perform” rating to an “outperform” rating and lifted their price target for the stock from $195.00 to $205.00 in a research note on Friday, June 26th. Finally, The Goldman Sachs Group set a $210.00 price objective on American Tower in a research note on Tuesday, July 28th. One 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 presently has an average rating of “Moderate Buy” and a consensus target price of $215.29.

American Tower Stock Performance

Shares of NYSE:AMT opened at $176.36 on Friday. 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 company has a 50-day moving average price of $171.26 and a 200-day moving average price of $177.76. The company has a market cap of $82.18 billion, a price-to-earnings ratio of 24.26, a price-to-earnings-growth ratio of 2.79 and a beta of 0.90. American Tower Corporation has a 12 month low of $160.06 and a 12 month high of $214.79.

American Tower (NYSE:AMT) last posted its earnings results on Tuesday, July 28th. The real estate investment trust reported $2.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.57 by $1.14. American Tower had a return on equity of 32.76% and a net margin of 31.08%.The company had revenue of $2.75 billion for the quarter, compared to analysts’ expectations of $2.70 billion. During the same period last year, the firm earned $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. As a group, equities analysts anticipate that American Tower Corporation will post 10.78 EPS for the current year.

Insider Activity at American Tower

In other news, CFO Robert Joseph Meyer sold 5,000 shares of American Tower stock in a transaction that occurred on Wednesday, July 29th. The stock was sold at an average price of $178.89, for a total value of $894,450.00. Following the sale, the chief financial officer directly owned 21,428 shares in the company, valued at approximately $3,833,254.92. This trade represents a 18.92% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Ruth T. Dowling sold 1,106 shares of the company’s stock in a transaction that occurred 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 transaction, the executive vice president 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 SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 6,791 shares of company stock valued at $1,204,091. Company insiders own 0.08% of the company’s stock.

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.