American Tower (NYSE:AMT) Director Rajesh Kalathur Purchases 2,829 Shares

American Tower Corporation (NYSE:AMT) Director Rajesh Kalathur bought 2,829 shares of the stock in a transaction on Friday, August 21st. The shares were acquired at an average cost of $177.00 per share, with a total value 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 purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

American Tower Price Performance

Shares of AMT traded up $0.27 during mid-day trading on Tuesday, reaching $178.66. The company had a trading volume of 1,400,582 shares, compared to its average volume of 3,132,643. The company’s 50 day simple moving average is $171.11 and its 200 day simple moving average is $177.82. American Tower Corporation has a 1-year low of $160.06 and a 1-year high of $209.10. The company has a debt-to-equity ratio of 3.12, a quick ratio of 0.52 and a current ratio of 0.52. The company has a market capitalization of $83.25 billion, a price-to-earnings ratio of 24.58, a P/E/G ratio of 2.78 and a beta of 0.90.

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 the consensus estimate of $1.57 by $1.14. The company had revenue of $2.75 billion for the quarter, compared to analyst estimates of $2.70 billion. American Tower had a net margin of 31.08% and a return on equity of 32.76%. The firm’s revenue was up 4.6% on a year-over-year basis. During the same period in the previous year, the firm posted $2.60 EPS. American Tower has set its FY 2026 guidance at 11.000-11.170 EPS. Analysts expect that American Tower Corporation will post 10.8 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on AMT. Sanford C. Bernstein reiterated an “outperform” rating and set a $214.00 price target on shares of American Tower in a report on Wednesday, July 29th. JPMorgan Chase & Co. cut their price objective on American Tower from $245.00 to $240.00 and set an “overweight” rating on the stock in a report on Wednesday, April 29th. Citizens Jmp restated a “market outperform” rating and set a $260.00 price objective on shares of American Tower in a research report on Wednesday, April 29th. Raymond James Financial reaffirmed a “strong-buy” rating and issued a $240.00 target price on shares of American Tower in a report on Wednesday, April 29th. Finally, BMO Capital Markets increased their target price on American Tower from $190.00 to $195.00 and gave the company a “market perform” rating in a research report on Wednesday, July 29th. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $215.29.

Hedge Funds Weigh In On American Tower

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. California State Teachers Retirement System lifted its holdings in American Tower by 17,056.3% during the 2nd quarter. California State Teachers Retirement System now owns 117,012,907 shares of the real estate investment trust’s stock worth $19,139,801,000 after buying an additional 116,330,867 shares during the period. BlackRock Inc. acquired a new stake in shares of American Tower in the second quarter valued at about $7,490,943,000. J. Stern & Co. LLP increased 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 valued at $6,616,703,000 after buying an additional 37,553,436 shares during the period. Northwestern Mutual Wealth Management Co. raised its position 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 acquiring an additional 9,666,025 shares during the last quarter. Finally, Deutsche Bank AG acquired a new position in shares of American Tower in the second quarter worth approximately $1,096,186,000. 92.69% of the stock is currently owned by institutional investors and hedge funds.

American Tower Company 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.