Kingsview Wealth Management LLC Takes Position in American Tower Corporation $AMT

Kingsview Wealth Management LLC bought a new position in American Tower Corporation (NYSE:AMT) in the second quarter, Holdings Channel.com reports. The firm bought 20,624 shares of the real estate investment trust’s stock, valued at approximately $3,373,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new stake in American Tower during the 2nd quarter valued at about $7,490,943,000. J. Stern & Co. LLP raised its stake 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. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of 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 worth $1,705,254,000 after purchasing an additional 9,666,025 shares during the period. Deutsche Bank AG acquired a new stake in shares of American Tower during the second quarter worth about $1,096,186,000. Finally, Norges Bank purchased a new stake in American Tower in the fourth quarter valued at approximately $1,171,180,000. Institutional investors and hedge funds own 92.69% of the company’s stock.

American Tower Trading Up 1.2%

American Tower stock opened at $176.25 on Friday. The firm has a market cap of $82.13 billion, a PE ratio of 24.24, a P/E/G 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 $205.21. The stock’s 50 day simple moving average is $170.87 and its two-hundred day simple moving average is $177.87. 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 posted its earnings results on Tuesday, July 28th. The real estate investment trust reported $2.71 earnings per share for the quarter, beating the consensus estimate of $1.57 by $1.14. American Tower had a net margin of 31.08% and a return on equity of 32.76%. The firm had revenue of $2.75 billion during the quarter, compared to analyst estimates of $2.70 billion. During the same period in the previous year, the firm earned $2.60 EPS. The business’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. Analysts anticipate that American Tower Corporation will post 10.8 earnings per share for the current year.

Insider Activity at American Tower

In other American Tower news, CFO Robert Joseph Meyer sold 5,000 shares of American Tower stock in a transaction on Wednesday, July 29th. The shares were sold at an average price of $178.89, for a total value of $894,450.00. Following the completion of the transaction, the chief financial officer owned 21,428 shares of the company’s stock, valued at approximately $3,833,254.92. The trade was a 18.92% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Ruth T. Dowling sold 1,106 shares of the company’s stock in a transaction dated Wednesday, July 29th. The stock was sold at an average price of $174.96, for a total transaction of $193,505.76. Following the completion of the transaction, the executive vice president owned 27,711 shares of the company’s stock, valued at approximately $4,848,316.56. This trade represents a 3.84% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 6,791 shares of company stock worth $1,204,091. 0.08% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts have issued reports on AMT shares. Truist Financial reissued a “buy” rating and set a $207.00 price target (down from $208.00) on shares of American Tower in a research report on Wednesday, August 12th. The Goldman Sachs Group set a $210.00 price objective on shares of American Tower in a report on Tuesday, July 28th. Royal Bank Of Canada upgraded shares of American Tower from a “sector perform” rating to an “outperform” rating and increased their price objective for the stock from $195.00 to $205.00 in a research note on Friday, June 26th. BMO Capital Markets raised their target price on shares of American Tower from $190.00 to $195.00 and gave the stock a “market perform” rating in a report on Wednesday, July 29th. Finally, Wolfe Research upgraded shares of 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. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, American Tower presently has an average rating of “Moderate Buy” and an average target price of $215.29.

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.