Farringdon Capital Ltd. Sells 11,275 Shares of American Tower Corporation $AMT

Farringdon Capital Ltd. trimmed its holdings in American Tower Corporation (NYSE:AMT) by 86.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,764 shares of the real estate investment trust’s stock after selling 11,275 shares during the period. Farringdon Capital Ltd.’s holdings in American Tower were worth $289,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Brighton Jones LLC increased its stake in American Tower by 113.0% during the 4th quarter. Brighton Jones LLC now owns 3,966 shares of the real estate investment trust’s stock worth $727,000 after acquiring an additional 2,104 shares during the period. Sivia Capital Partners LLC grew its holdings in shares of American Tower by 34.3% during the 2nd quarter. Sivia Capital Partners LLC now owns 1,442 shares of the real estate investment trust’s stock worth $319,000 after purchasing an additional 368 shares in the last quarter. United Bank grew its holdings in shares of American Tower by 12.7% during the 2nd quarter. United Bank now owns 6,488 shares of the real estate investment trust’s stock worth $1,434,000 after purchasing an additional 733 shares in the last quarter. Treasurer of the State of North Carolina increased its position in shares of American Tower by 2.2% in the second quarter. Treasurer of the State of North Carolina now owns 218,511 shares of the real estate investment trust’s stock worth $48,295,000 after purchasing an additional 4,778 shares during the period. Finally, Ieq Capital LLC raised its stake in American Tower by 52.2% in the second quarter. Ieq Capital LLC now owns 34,248 shares of the real estate investment trust’s stock valued at $7,570,000 after purchasing an additional 11,751 shares in the last quarter. 92.69% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

AMT has been the topic of a number of analyst reports. Jefferies Financial Group reduced their price objective on shares of American Tower from $210.00 to $201.00 and set a “buy” rating on the stock in a research note on Wednesday, July 15th. Citizens Jmp reaffirmed a “market outperform” rating and set a $260.00 price target on shares of American Tower in a report on Wednesday, April 29th. Sanford C. Bernstein reiterated an “outperform” rating and set a $214.00 price target on shares of American Tower in a research report on Wednesday, July 29th. Truist Financial restated a “buy” rating and set a $207.00 price objective (down from $208.00) on shares of American Tower in a research report on Wednesday, August 12th. Finally, Raymond James Financial restated a “strong-buy” rating and set a $240.00 price objective on shares of American Tower in a research report on Wednesday, April 29th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, American Tower presently has a consensus rating of “Moderate Buy” and a consensus target price of $215.29.

Insider Transactions at American Tower

In other news, CFO Robert Joseph Meyer sold 5,000 shares of American Tower stock in a transaction dated Wednesday, July 29th. The stock was sold at an average price of $178.89, for a total transaction of $894,450.00. Following the sale, the chief financial officer directly owned 21,428 shares of the company’s stock, valued at approximately $3,833,254.92. This trade represents a 18.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, 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 completion of the transaction, the executive vice president directly owned 27,711 shares of the company’s stock, valued at $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. Insiders have sold 6,791 shares of company stock worth $1,204,091 over the last three months. Insiders own 0.08% of the company’s stock.

American Tower Stock Up 0.4%

Shares of AMT opened at $176.36 on Friday. 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 $214.79. The stock has a market capitalization of $82.18 billion, a price-to-earnings ratio of 24.26, a PEG ratio of 2.79 and a beta of 0.90. The stock has a fifty day moving average of $171.26 and a 200-day moving average of $177.76.

American Tower (NYSE:AMT) last issued its quarterly earnings data on Tuesday, July 28th. The real estate investment trust reported $2.71 earnings per share for the quarter, topping 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 analyst estimates of $2.70 billion. During the same quarter in the previous year, the company posted $2.60 EPS. American Tower’s quarterly revenue was up 4.6% compared to the same quarter last year. American Tower has set its FY 2026 guidance at 11.000-11.170 EPS. As a group, sell-side analysts anticipate that American Tower Corporation will post 10.8 earnings per share for the current fiscal year.

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.