Oppenheimer Asset Management Inc. Takes Position in American Tower Corporation $AMT

Oppenheimer Asset Management Inc. purchased a new position in shares of American Tower Corporation (NYSE:AMT) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 133,110 shares of the real estate investment trust’s stock, valued at approximately $21,773,000.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Richards Merrill & Peterson Inc. purchased a new position in American Tower in the 4th quarter valued at approximately $25,000. Oakworth Capital Inc. boosted its position in American Tower by 90.7% during the fourth quarter. Oakworth Capital Inc. now owns 143 shares of the real estate investment trust’s stock worth $25,000 after purchasing an additional 68 shares in the last quarter. Swiss RE Ltd. acquired a new stake in American Tower in the fourth quarter valued at $25,000. Allied Private Wealth LLC acquired a new stake in American Tower in the second quarter valued at $29,000. Finally, Triumph Capital Management purchased a new position in shares of American Tower in the third quarter valued at $29,000. Institutional investors and hedge funds own 92.69% of the company’s stock.

American Tower Stock Performance

NYSE:AMT opened at $175.68 on Friday. The company has a debt-to-equity ratio of 3.12, a current ratio of 0.52 and a quick ratio of 0.52. The firm has a market cap of $81.86 billion, a PE ratio of 24.17, a P/E/G ratio of 2.76 and a beta of 0.90. The firm has a 50 day simple moving average of $172.82 and a 200-day simple moving average of $177.94. American Tower Corporation has a 1-year low of $160.06 and a 1-year high of $214.79.

American Tower (NYSE:AMT) last announced its earnings results on Tuesday, July 28th. The real estate investment trust reported $2.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.57 by $1.14. The firm 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%. American Tower’s revenue was up 4.6% compared to the same quarter last year. During the same quarter last year, the business earned $2.60 earnings per share. American Tower has set its FY 2026 guidance at 11.000-11.170 EPS. On average, equities analysts expect that American Tower Corporation will post 10.78 EPS for the current year.

American Tower Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 13th. Stockholders of record on Friday, June 12th were issued a dividend of $1.79 per share. The ex-dividend date was Friday, June 12th. This represents a $7.16 annualized dividend and a dividend yield of 4.1%. American Tower’s dividend payout ratio (DPR) is 98.49%.

Insiders Place Their Bets

In other news, EVP Ruth T. Dowling sold 1,106 shares of American Tower 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 completion of the sale, the executive vice president owned 27,711 shares of the company’s stock, valued at $4,848,316.56. The trade was a 3.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 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 transaction, the chief financial officer owned 21,428 shares of the company’s stock, valued at $3,833,254.92. The trade was a 18.92% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 6,791 shares of company stock valued at $1,204,091. Company insiders own 0.08% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. TD Cowen lifted their price target on American Tower from $225.00 to $227.00 and gave the stock a “buy” rating in a research note on Wednesday, July 29th. Truist Financial reissued a “buy” rating and issued a $207.00 price objective (down from $208.00) on shares of American Tower in a research note on Wednesday. The Goldman Sachs Group set a $210.00 target price on shares of American Tower in a report on Tuesday, July 28th. JPMorgan Chase & Co. reduced 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. Finally, Wolfe Research upgraded shares of American Tower from a “peer perform” rating to an “outperform” rating and set a $188.00 price target on the stock in a research report on Wednesday, July 8th. One investment 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 stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $215.14.

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.