Kintra Wealth LLC Purchases New Position in American Tower Corporation $AMT

Kintra Wealth LLC purchased a new stake in American Tower Corporation (NYSE:AMT) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 3,645 shares of the real estate investment trust’s stock, valued at approximately $635,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Operose Advisors LLC purchased a new stake in American Tower during the 2nd quarter worth about $25,000. Swiss RE Ltd. purchased a new position in American Tower during the 4th quarter valued at about $25,000. Allied Private Wealth LLC bought a new stake in shares of American Tower during the second quarter valued at about $29,000. Triumph Capital Management bought a new stake in shares of American Tower during the third quarter valued at about $29,000. Finally, Acumen Wealth Advisors LLC purchased a new stake in shares of American Tower in the fourth quarter worth about $29,000. 92.69% of the stock is currently owned by institutional investors.

American Tower Trading Down 0.0%

NYSE AMT opened at $175.83 on Tuesday. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 3.12. The stock’s 50-day simple moving average is $171.09 and its two-hundred day simple moving average is $177.40. American Tower Corporation has a twelve month low of $160.06 and a twelve month high of $199.40. The company has a market capitalization of $81.93 billion, a price-to-earnings ratio of 24.19, a PEG ratio of 2.82 and a beta of 0.89.

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, topping analysts’ consensus estimates of $1.57 by $1.14. The firm had revenue of $2.75 billion during the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same period in the prior year, the business earned $2.60 EPS. American Tower has set its FY 2026 guidance at 11.000-11.170 EPS. Research analysts forecast that American Tower Corporation will post 10.8 EPS for the current fiscal year.

Insider Buying and Selling

In other American Tower news, Director Rajesh Kalathur purchased 2,829 shares of the firm’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 owned 7,765 shares of the company’s stock, valued at $1,374,405. The trade was a 57.31% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Ruth T. Dowling sold 1,106 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the executive vice president owned 27,711 shares of the company’s stock, valued at approximately $4,848,316.56. The trade was a 3.84% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 6,791 shares of company stock worth $1,204,091 in the last quarter. 0.08% of the stock is owned by insiders.

Analysts Set New Price Targets

AMT has been the subject of a number of analyst reports. Scotiabank restated an “outperform” rating on shares of American Tower in a research report on Wednesday, July 29th. Weiss Ratings upgraded shares of American Tower from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, July 14th. TD Cowen raised their price target on shares of American Tower from $225.00 to $227.00 and gave the company a “buy” rating in a report on Wednesday, July 29th. Mizuho set a $208.00 price target on shares of American Tower in a research report on Thursday, August 20th. Finally, BMO Capital Markets upped their price target 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. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus 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.