Landscape Capital Management L.L.C. Cuts Holdings in American Tower Corporation $AMT

Landscape Capital Management L.L.C. decreased its holdings in American Tower Corporation (NYSE:AMT) by 71.4% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,024 shares of the real estate investment trust’s stock after selling 7,551 shares during the period. Landscape Capital Management L.L.C.’s holdings in American Tower were worth $495,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the stock. Brighton Jones LLC boosted its holdings in shares of American Tower by 113.0% in the 4th quarter. Brighton Jones LLC now owns 3,966 shares of the real estate investment trust’s stock valued at $727,000 after buying an additional 2,104 shares in the last quarter. Sivia Capital Partners LLC raised its stake in shares of American Tower by 34.3% during the 2nd quarter. Sivia Capital Partners LLC now owns 1,442 shares of the real estate investment trust’s stock worth $319,000 after acquiring an additional 368 shares in the last quarter. United Bank lifted its position in American Tower by 12.7% during the second quarter. United Bank now owns 6,488 shares of the real estate investment trust’s stock valued at $1,434,000 after acquiring an additional 733 shares during the last quarter. Treasurer of the State of North Carolina lifted its position in American Tower by 2.2% during the second quarter. Treasurer of the State of North Carolina now owns 218,511 shares of the real estate investment trust’s stock valued at $48,295,000 after acquiring an additional 4,778 shares during the last quarter. Finally, Ieq Capital LLC boosted its stake in American Tower by 52.2% in the second quarter. Ieq Capital LLC now owns 34,248 shares of the real estate investment trust’s stock valued at $7,570,000 after acquiring an additional 11,751 shares in the last quarter. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Insider Transactions at American Tower

In other American Tower news, CFO Robert Joseph Meyer sold 5,000 shares of American Tower 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 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 position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Ruth T. Dowling sold 1,106 shares of the business’s stock in a transaction dated Wednesday, July 29th. The shares were sold at an average price of $174.96, for a total value 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. The trade was a 3.84% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 6,791 shares of company stock valued at $1,204,091. 0.08% of the stock is currently owned by insiders.

American Tower Trading Up 0.3%

NYSE AMT opened at $176.36 on Monday. The company has a fifty day simple moving average of $171.26 and a two-hundred day simple moving average of $177.78. The stock has a market cap of $82.18 billion, a P/E ratio of 24.26, a P/E/G ratio of 2.78 and a beta of 0.90. American Tower Corporation has a 12-month low of $160.06 and a 12-month high of $214.79. 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 announced its quarterly earnings data on Tuesday, July 28th. The real estate investment trust reported $2.71 earnings per share for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $2.70 billion. During the same period in the previous year, the company earned $2.60 earnings per share. The business’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, analysts forecast that American Tower Corporation will post 10.8 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms have issued reports on AMT. JPMorgan Chase & Co. cut their price target on shares of 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 reiterated a “market outperform” rating and set a $260.00 price objective on shares of American Tower in a report on Wednesday, April 29th. Scotiabank reissued an “outperform” rating on shares of American Tower in a research report on Wednesday, July 29th. Royal Bank Of Canada upgraded American Tower from a “sector perform” rating to an “outperform” rating and boosted their target price for the stock from $195.00 to $205.00 in a research note on Friday, June 26th. Finally, Truist Financial reaffirmed a “buy” rating and set a $207.00 target price (down from $208.00) on shares of American Tower in a research report on Wednesday, August 12th. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the company 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.