Jones Financial Companies Lllp Sells 88,975 Shares of American Tower Corporation $AMT

Jones Financial Companies Lllp reduced its position in shares of American Tower Corporation (NYSE:AMT) by 24.9% in the second quarter, HoldingsChannel.com reports. The firm owned 268,120 shares of the real estate investment trust’s stock after selling 88,975 shares during the period. Jones Financial Companies Lllp’s holdings in American Tower were worth $46,328,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. Oakworth Capital Inc. grew its position 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 worth $25,000 after buying an additional 68 shares during the last quarter. Swiss RE Ltd. bought a new stake in American Tower in the fourth quarter valued at $25,000. Allied Private Wealth LLC purchased a new position in American Tower during the 2nd quarter valued at $29,000. Triumph Capital Management purchased a new stake in American Tower in the third quarter worth about $29,000. Finally, Acumen Wealth Advisors LLC bought a new stake in American Tower during the 4th quarter valued at approximately $29,000. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Insider Buying and Selling

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 transaction of $193,505.76. Following the completion of the sale, the executive vice president directly owned 27,711 shares in the company, valued at approximately $4,848,316.56. The trade was a 3.84% decrease in their position. The sale 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, CFO Robert Joseph Meyer sold 5,000 shares of American Tower stock in a transaction 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 completion of the sale, the chief financial officer directly owned 21,428 shares of the company’s stock, valued at $3,833,254.92. The trade was a 18.92% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 6,791 shares of company stock valued at $1,204,091. 0.08% of the stock is currently owned by insiders.

American Tower Trading Up 1.5%

American Tower stock opened at $178.38 on Tuesday. American Tower Corporation has a one year low of $160.06 and a one year high of $211.91. The business’s fifty day moving average is $171.11 and its 200 day moving average is $177.82. The stock 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 current ratio of 0.52 and a quick ratio of 0.52.

American Tower (NYSE:AMT) last announced its quarterly earnings results on Tuesday, July 28th. The real estate investment trust reported $2.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.57 by $1.14. The firm had revenue of $2.75 billion for 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 quarterly revenue was up 4.6% compared to the same quarter last year. During the same quarter last year, the firm posted $2.60 EPS. American Tower has set its FY 2026 guidance at 11.000-11.170 EPS. On average, sell-side analysts predict that American Tower Corporation will post 10.8 EPS for the current year.

Analyst Ratings Changes

Several brokerages have recently issued reports on AMT. Wolfe Research raised American Tower from a “peer perform” rating to an “outperform” rating and set a $188.00 target price for the company in a research report on Wednesday, July 8th. TD Cowen upped their price objective on shares of American Tower from $225.00 to $227.00 and gave the stock a “buy” rating in a report on Wednesday, July 29th. Truist Financial reiterated 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. JPMorgan Chase & Co. dropped their price target 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. Finally, BMO Capital Markets upped their price target on American Tower from $190.00 to $195.00 and gave the stock a “market perform” rating in a research note on Wednesday, July 29th. 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. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price 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.