RB Capital Management LLC Makes New Investment in American Tower Corporation $AMT

RB Capital Management LLC acquired a new stake in shares of American Tower Corporation (NYSE:AMT) in the second quarter, according to its most recent disclosure with the SEC. The firm acquired 3,060 shares of the real estate investment trust’s stock, valued at approximately $501,000.

Several other hedge funds have also recently modified their holdings of the stock. BlackRock Inc. purchased a new position in shares of American Tower during the second quarter valued at about $7,490,943,000. J. Stern & Co. LLP increased its holdings in shares of American Tower by 28,121.1% in the fourth quarter. J. Stern & Co. LLP now owns 37,686,978 shares of the real estate investment trust’s stock worth $6,616,703,000 after purchasing an additional 37,553,436 shares during the last quarter. State Street Corp lifted its position in shares of American Tower by 0.3% in the fourth quarter. State Street Corp now owns 20,987,534 shares of the real estate investment trust’s stock worth $3,719,634,000 after buying an additional 71,605 shares in the last quarter. Geode Capital Management LLC boosted its stake in American Tower by 1.7% during the fourth quarter. Geode Capital Management LLC now owns 13,499,035 shares of the real estate investment trust’s stock valued at $2,361,675,000 after buying an additional 227,361 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. boosted its stake in American Tower by 20,721.6% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 9,712,672 shares of the real estate investment trust’s stock valued at $1,705,254,000 after buying an additional 9,666,025 shares during the last quarter. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. BMO Capital Markets lifted their price objective 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. Sanford C. Bernstein reiterated an “outperform” rating and set a $214.00 target price on shares of American Tower in a research report on Wednesday, July 29th. The Goldman Sachs Group set a $210.00 target price on shares of American Tower in a report on Tuesday, July 28th. Weiss Ratings upgraded shares of American Tower from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, July 14th. Finally, Truist Financial reaffirmed a “buy” rating and set a $207.00 price target (down from $208.00) on shares of American Tower in a research note on Wednesday, August 12th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, American Tower presently has a consensus rating of “Moderate Buy” and an average price target of $215.29.

Insider Activity at American Tower

In related news, EVP Ruth T. Dowling sold 1,106 shares of the stock in a transaction on Wednesday, July 29th. The stock was sold at an average price of $174.96, for a total transaction of $193,505.76. Following the sale, the executive vice president owned 27,711 shares in the company, valued at approximately $4,848,316.56. This represents a 3.84% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Rajesh Kalathur acquired 2,829 shares of the company’s stock in a transaction on Friday, August 21st. The shares were purchased at an average cost of $177.00 per share, with a total value of $500,733.00. Following the completion of the purchase, the director directly owned 7,765 shares of the company’s stock, valued at $1,374,405. This trade represents a 57.31% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last 90 days, insiders have sold 6,791 shares of company stock worth $1,204,091. Company insiders own 0.08% of the company’s stock.

American Tower Trading Up 1.2%

Shares of NYSE AMT opened at $176.25 on Friday. The business’s 50 day moving average is $170.87 and its two-hundred day moving average is $177.87. 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 Corporation has a 1-year low of $160.06 and a 1-year high of $205.21. The stock has a market capitalization of $82.13 billion, a P/E ratio of 24.24, a PEG ratio of 2.76 and a beta of 0.90.

American Tower (NYSE:AMT) last posted its quarterly earnings data on Tuesday, July 28th. The real estate investment trust reported $2.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.57 by $1.14. The business had revenue of $2.75 billion during the quarter, compared to analyst estimates of $2.70 billion. American Tower had a return on equity of 32.76% and a net margin of 31.08%.The company’s revenue for the quarter was up 4.6% on a year-over-year basis. During the same period last year, the company earned $2.60 EPS. American Tower has set its FY 2026 guidance at 11.000-11.170 EPS. As a group, research analysts expect that American Tower Corporation will post 10.8 EPS for the current 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.