200,000 Shares in American Tower Corporation $AMT Purchased by Pacific Heights Asset Management LLC

Pacific Heights Asset Management LLC acquired a new stake in shares of American Tower Corporation (NYSE:AMT) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 200,000 shares of the real estate investment trust’s stock, valued at approximately $32,714,000. American Tower comprises approximately 1.0% of Pacific Heights Asset Management LLC’s portfolio, making the stock its 26th biggest holding.

A number of other institutional investors have also recently bought and sold shares of AMT. Swiss RE Ltd. acquired a new position in shares of American Tower in the 4th quarter valued at $25,000. Triumph Capital Management acquired a new stake in shares of American Tower during the 3rd quarter worth $29,000. Acumen Wealth Advisors LLC purchased a new position in shares of American Tower in the 4th quarter worth $29,000. Lloyd Advisory Services LLC. acquired a new position in American Tower in the fourth quarter valued at $30,000. Finally, Allied Private Wealth LLC purchased a new stake in American Tower during the second quarter valued at about $29,000. 92.69% of the stock is currently owned by hedge funds and other institutional investors.

American Tower Stock Performance

Shares of NYSE:AMT opened at $174.15 on Friday. The business’s 50-day simple moving average is $170.86 and its 200 day simple moving average is $177.88. The company has a market cap of $81.15 billion, a P/E ratio of 23.95, a PEG ratio of 2.78 and a beta of 0.90. 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 one year low of $160.06 and a one year high of $205.21.

American Tower (NYSE:AMT) last released its quarterly earnings results 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 firm had revenue of $2.75 billion during the quarter, compared to analysts’ expectations of $2.70 billion. During the same quarter in the prior year, the business earned $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. On average, sell-side analysts forecast that American Tower Corporation will post 10.8 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CFO Robert Joseph Meyer sold 5,000 shares of the firm’s 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 completion of the sale, the chief financial officer directly owned 21,428 shares in the company, valued at $3,833,254.92. This trade represents a 18.92% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Rajesh Kalathur purchased 2,829 shares of the business’s stock in a transaction that occurred on Friday, August 21st. The stock was acquired at an average price of $177.00 per share, for a total transaction of $500,733.00. Following the purchase, the director owned 7,765 shares of the company’s stock, valued at approximately $1,374,405. This represents a 57.31% increase in their position. The SEC filing for this purchase provides additional information. Insiders have sold 6,791 shares of company stock valued at $1,204,091 in the last quarter. Company insiders own 0.08% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on AMT. Royal Bank Of Canada upgraded American Tower from a “sector perform” rating to an “outperform” rating and raised their price objective for the stock from $195.00 to $205.00 in a report on Friday, June 26th. 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. TD Cowen increased their target price on shares of American Tower from $225.00 to $227.00 and gave the stock a “buy” rating 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 report on Tuesday, July 14th. Finally, Sanford C. Bernstein reiterated an “outperform” rating and set a $214.00 price objective on shares of American Tower in a research note on Wednesday, July 29th. One research 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 company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target 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.