NEOS Investment Management LLC Purchases 17,914 Shares of American Tower Corporation $AMT

NEOS Investment Management LLC lifted its holdings in American Tower Corporation (NYSE:AMT) by 14.3% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 143,505 shares of the real estate investment trust’s stock after purchasing an additional 17,914 shares during the quarter. NEOS Investment Management LLC’s holdings in American Tower were worth $23,473,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of AMT. Riverwater Partners LLC increased its holdings in shares of American Tower by 3.8% in the 4th quarter. Riverwater Partners LLC now owns 1,536 shares of the real estate investment trust’s stock worth $270,000 after buying an additional 56 shares during the last quarter. Triumph Capital Management lifted its holdings in shares of American Tower by 37.3% in the 4th quarter. Triumph Capital Management now owns 206 shares of the real estate investment trust’s stock valued at $36,000 after acquiring an additional 56 shares during the last quarter. Twin City Private Wealth LLC grew its position in American Tower by 0.7% in the fourth quarter. Twin City Private Wealth LLC now owns 7,799 shares of the real estate investment trust’s stock worth $1,382,000 after acquiring an additional 58 shares in the last quarter. Asset Advisory Group Inc. grew its position in American Tower by 3.0% in the first quarter. Asset Advisory Group Inc. now owns 2,072 shares of the real estate investment trust’s stock worth $358,000 after acquiring an additional 60 shares in the last quarter. Finally, Argent Advisors Inc. increased its stake in American Tower by 0.9% during the fourth quarter. Argent Advisors Inc. now owns 6,625 shares of the real estate investment trust’s stock worth $1,163,000 after acquiring an additional 61 shares during the last quarter. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Insider Buying and Selling at American Tower

In other American Tower news, EVP Ruth Dowling sold 1,106 shares of the stock in a transaction on Wednesday, July 29th. The stock was 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 $4,848,316.56. This trade represents a 3.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Rajesh Kalathur bought 2,829 shares of the stock in a transaction dated Friday, August 21st. The shares were bought 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 directly owned 7,765 shares of the company’s stock, valued at approximately $1,374,405. This trade 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. 0.08% of the stock is owned by insiders.

Analysts Set New Price Targets

AMT has been the topic of a number of recent research reports. Royal Bank Of Canada upgraded American Tower from a “sector perform” rating to an “outperform” rating and upped their price objective for the company from $195.00 to $205.00 in a research report on Friday, June 26th. BMO Capital Markets boosted 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. Weiss Ratings upgraded American Tower from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, July 14th. Wolfe Research upgraded American Tower from a “peer perform” rating to an “outperform” rating and set a $188.00 price target for the company in a research report on Wednesday, July 8th. Finally, TD Cowen lifted 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. One 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. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $215.29.

American Tower Stock Down 1.1%

Shares of NYSE:AMT opened at $175.83 on Friday. American Tower Corporation has a 1 year low of $160.06 and a 1 year high of $199.40. The business has a 50 day simple moving average of $170.94 and a two-hundred day simple moving average of $177.62. The firm has a market capitalization of $81.93 billion, a PE ratio of 24.19, a price-to-earnings-growth ratio of 2.85 and a beta of 0.89. The company has a debt-to-equity ratio of 3.12, a current ratio of 0.52 and a quick ratio of 0.52.

American Tower (NYSE:AMT) last issued its quarterly earnings results on Tuesday, July 28th. The real estate investment trust reported $2.71 earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to the consensus estimate of $2.70 billion. During the same period in the prior year, the business posted $2.60 earnings per share. The company’s revenue for the quarter was up 4.6% on a year-over-year basis. American Tower has set its FY 2026 guidance at 11.000-11.170 EPS. On average, equities analysts predict that American Tower Corporation will post 10.8 EPS for the current year.

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.