UNIVEST FINANCIAL Corp Purchases Shares of 62,911 American Tower Corporation $AMT

UNIVEST FINANCIAL Corp acquired a new position in American Tower Corporation (NYSE:AMT) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 62,911 shares of the real estate investment trust’s stock, valued at approximately $10,290,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Raleigh Capital Management Inc. increased its stake in shares of American Tower by 489.1% in the 1st quarter. Raleigh Capital Management Inc. now owns 13,703 shares of the real estate investment trust’s stock valued at $2,365,000 after acquiring an additional 11,377 shares in the last quarter. Canal Capital Management LLC boosted its stake in American Tower by 81.9% during the first quarter. Canal Capital Management LLC now owns 34,471 shares of the real estate investment trust’s stock worth $5,949,000 after acquiring an additional 15,520 shares in the last quarter. Bernzott Capital Advisors grew its holdings in American Tower by 29.3% in the first quarter. Bernzott Capital Advisors now owns 42,161 shares of the real estate investment trust’s stock worth $7,276,000 after purchasing an additional 9,556 shares during the period. Legal & General Group Plc grew its holdings in American Tower by 4.7% in the fourth quarter. Legal & General Group Plc now owns 4,873,695 shares of the real estate investment trust’s stock worth $855,675,000 after purchasing an additional 220,447 shares during the period. Finally, Swiss Life Asset Management Ltd increased its stake in American Tower by 13.9% in the fourth quarter. Swiss Life Asset Management Ltd now owns 101,993 shares of the real estate investment trust’s stock valued at $17,907,000 after purchasing an additional 12,464 shares in the last quarter. Institutional investors own 92.69% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on AMT. Weiss Ratings raised shares of American Tower from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, July 14th. Royal Bank Of Canada raised 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. Jefferies Financial Group cut their price target on American Tower from $210.00 to $201.00 and set a “buy” rating on the stock in a report on Wednesday, July 15th. Wolfe Research raised American Tower from a “peer perform” rating to an “outperform” rating and set a $188.00 price objective for the company in a research note on Wednesday, July 8th. Finally, The Goldman Sachs Group set a $210.00 price objective on American Tower in a report on Tuesday, July 28th. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $215.14.

American Tower Stock Down 2.0%

American Tower stock opened at $172.12 on Tuesday. The firm has a market capitalization of $80.20 billion, a price-to-earnings ratio of 23.68, a price-to-earnings-growth ratio of 2.79 and a beta of 0.90. The firm’s fifty day moving average price is $172.48 and its two-hundred day moving average price is $177.87. American Tower Corporation has a 1-year low of $160.06 and a 1-year 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 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. American Tower had a net margin of 31.08% and a return on equity of 32.76%. The company had revenue of $2.75 billion during the quarter, compared to the consensus estimate of $2.70 billion. During the same period in the previous year, the firm posted $2.60 earnings per share. The firm’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 research analysts predict that American Tower Corporation will post 10.78 earnings per share for the current fiscal year.

American Tower Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 13th. Shareholders of record on Friday, June 12th were issued a dividend of $1.79 per share. This represents a $7.16 dividend on an annualized basis and a yield of 4.2%. The ex-dividend date of this dividend was Friday, June 12th. American Tower’s payout ratio is currently 98.49%.

Insider Activity at American Tower

In other news, CFO Robert Joseph Meyer sold 5,000 shares of the stock in a transaction that occurred on Wednesday, July 29th. The stock was 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 directly owned 21,428 shares of the company’s stock, valued at $3,833,254.92. This represents a 18.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Ruth T. Dowling sold 1,106 shares of the firm’s stock in a transaction that occurred on Wednesday, July 29th. The shares were sold at an average price of $174.96, for a total value of $193,505.76. Following the completion of the transaction, the executive vice president owned 27,711 shares in the company, valued at $4,848,316.56. This represents 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. Over the last three months, insiders sold 6,791 shares of company stock valued at $1,204,091. Company insiders own 0.08% of the company’s stock.

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.