Meeder Advisory Services Inc. Makes New $1.11 Million Investment in American Tower Corporation $AMT

Meeder Advisory Services Inc. bought a new position in shares of American Tower Corporation (NYSE:AMT) during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 6,796 shares of the real estate investment trust’s stock, valued at approximately $1,112,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Richards Merrill & Peterson Inc. acquired a new stake in American Tower during the fourth quarter worth approximately $25,000. Oakworth Capital Inc. raised its holdings in American Tower by 90.7% in the 4th quarter. Oakworth Capital Inc. now owns 143 shares of the real estate investment trust’s stock valued at $25,000 after acquiring an additional 68 shares in the last quarter. Swiss RE Ltd. acquired a new position in American Tower in the 4th quarter valued at $25,000. Allied Private Wealth LLC bought a new stake in shares of American Tower during the 2nd quarter valued at $29,000. Finally, Triumph Capital Management bought a new stake in shares of American Tower during the 3rd quarter valued at $29,000. 92.69% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently commented on AMT shares. BMO Capital Markets raised their price target on American Tower from $190.00 to $195.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 29th. Jefferies Financial Group cut their price objective on shares of American Tower from $210.00 to $201.00 and set a “buy” rating for the company in a research report on Wednesday, July 15th. TD Cowen increased their price objective on shares of American Tower from $225.00 to $227.00 and gave the stock a “buy” rating in a research note on Wednesday, July 29th. Scotiabank reissued an “outperform” rating on shares of American Tower in a report on Wednesday, July 29th. Finally, Royal Bank Of Canada upgraded shares of American Tower from a “sector perform” rating to an “outperform” rating and boosted their target price for the company from $195.00 to $205.00 in a research report on Friday, June 26th. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $215.14.

Insider Transactions at American Tower

In other news, EVP Ruth T. Dowling sold 1,106 shares of the firm’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 directly owned 27,711 shares in the company, valued at $4,848,316.56. This trade represents a 3.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Robert Joseph Meyer sold 5,000 shares of the company’s stock in a transaction that occurred 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 sale, the chief financial officer owned 21,428 shares in the company, valued at $3,833,254.92. The trade was a 18.92% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 6,791 shares of company stock worth $1,204,091 in the last quarter. Corporate insiders own 0.08% of the company’s stock.

American Tower Trading Up 1.3%

Shares of AMT stock opened at $174.54 on Thursday. American Tower Corporation has a twelve month low of $160.06 and a twelve month high of $214.79. The stock’s fifty day simple moving average is $171.75 and its 200 day simple moving average is $177.79. 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 firm has a market capitalization of $81.33 billion, a P/E ratio of 24.01, a P/E/G ratio of 2.73 and a beta of 0.90.

American Tower (NYSE:AMT) last posted its earnings results on Tuesday, July 28th. The real estate investment trust reported $2.71 EPS for the quarter, topping the consensus estimate of $1.57 by $1.14. The business had revenue of $2.75 billion for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period last year, the company earned $2.60 EPS. American Tower has set its FY 2026 guidance at 11.000-11.170 EPS. As a group, sell-side analysts predict that American Tower Corporation will post 10.78 EPS for the current fiscal year.

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.