Ninepoint Partners LP Invests $1.86 Million in American Tower Corporation $AMT

Ninepoint Partners LP acquired a new stake in American Tower Corporation (NYSE:AMT) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 11,389 shares of the real estate investment trust’s stock, valued at approximately $1,863,000.

Several other institutional investors and hedge funds have also modified their holdings of the company. Oakworth Capital Inc. grew its stake 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 worth $25,000 after acquiring an additional 68 shares during the period. Swiss RE Ltd. purchased a new position in shares of American Tower during the 4th quarter worth $25,000. Triumph Capital Management purchased a new position in shares of American Tower during the 3rd quarter worth $29,000. Acumen Wealth Advisors LLC acquired a new stake in shares of American Tower during the fourth quarter worth $29,000. Finally, Lloyd Advisory Services LLC. purchased a new stake in shares of American Tower in the fourth quarter valued at $30,000. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Insider Activity at American Tower

In other American Tower news, CFO Robert Joseph Meyer sold 5,000 shares of American Tower stock in a transaction that occurred on Wednesday, July 29th. The shares were sold at an average price of $178.89, for a total transaction of $894,450.00. Following the transaction, the chief financial officer directly 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 sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Ruth T. Dowling sold 1,106 shares of the business’s stock in a transaction that occurred on Wednesday, July 29th. The stock was sold at an average price of $174.96, for a total transaction of $193,505.76. Following the sale, the executive vice president owned 27,711 shares of the company’s stock, valued at approximately $4,848,316.56. This represents a 3.84% decrease in their ownership of the stock. 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. Insiders sold 6,791 shares of company stock worth $1,204,091 in the last 90 days. 0.08% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

AMT has been the topic of several recent analyst reports. JPMorgan Chase & Co. reduced their target price on American Tower from $245.00 to $240.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 29th. Sanford C. Bernstein restated an “outperform” rating and issued a $214.00 price target on shares of American Tower in a report on Wednesday, July 29th. Truist Financial reiterated a “buy” rating and set a $207.00 price objective (down from $208.00) on shares of American Tower in a report on Wednesday, August 12th. 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 report on Friday, June 26th. Finally, Jefferies Financial Group dropped their price target 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. One equities research 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 company. According to MarketBeat, American Tower presently has an average rating of “Moderate Buy” and a consensus price target of $215.29.

American Tower Stock Performance

Shares of NYSE:AMT opened at $175.99 on Friday. The business has a 50-day moving average of $171.48 and a two-hundred day moving average of $177.77. The firm has a market capitalization of $82.00 billion, a PE ratio of 24.21, a P/E/G ratio of 2.77 and a beta of 0.90. 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 Corporation has a 12 month low of $160.06 and a 12 month high of $214.79.

American Tower (NYSE:AMT) last released its quarterly earnings data on Tuesday, July 28th. The real estate investment trust reported $2.71 earnings per share for the quarter, beating 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 business 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 posted $2.60 EPS. The company’s 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. As a group, research analysts forecast that American Tower Corporation will post 10.78 earnings per share 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.