American Tower Corporation $AMT Shares Sold by Haverford Trust Co

Haverford Trust Co reduced its stake in shares of American Tower Corporation (NYSE:AMT) by 65.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 54,307 shares of the real estate investment trust’s stock after selling 105,049 shares during the quarter. Haverford Trust Co’s holdings in American Tower were worth $8,883,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Raleigh Capital Management Inc. increased its stake in shares of American Tower by 489.1% in the first quarter. Raleigh Capital Management Inc. now owns 13,703 shares of the real estate investment trust’s stock valued at $2,365,000 after purchasing an additional 11,377 shares during the period. Canal Capital Management LLC boosted its position in shares of 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 buying an additional 15,520 shares during the period. Bernzott Capital Advisors boosted its position in shares of American Tower by 29.3% during the first quarter. Bernzott Capital Advisors now owns 42,161 shares of the real estate investment trust’s stock worth $7,276,000 after buying an additional 9,556 shares during the period. Legal & General Group Plc grew its holdings in American Tower by 4.7% in the 4th quarter. Legal & General Group Plc now owns 4,873,695 shares of the real estate investment trust’s stock worth $855,675,000 after buying an additional 220,447 shares in the last quarter. Finally, Swiss Life Asset Management Ltd increased its position in American Tower by 13.9% in the 4th 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 acquiring an additional 12,464 shares during the period. 92.69% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts have weighed in on AMT shares. Mizuho set a $208.00 target price on American Tower in a research note on Thursday. BMO Capital Markets raised their price target on American Tower from $190.00 to $195.00 and gave the company a “market perform” rating in a report on Wednesday, July 29th. Truist Financial restated a “buy” rating and set a $207.00 price objective (down from $208.00) on shares of American Tower in a research note on Wednesday, August 12th. Citizens Jmp reaffirmed a “market outperform” rating and issued a $260.00 price objective on shares of American Tower in a report on Wednesday, April 29th. Finally, Jefferies Financial Group decreased their target price 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 investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, American Tower has a consensus rating of “Moderate Buy” and a consensus target price of $215.29.

American Tower Stock Up 0.4%

AMT stock opened at $176.36 on Friday. The firm has a market cap of $82.18 billion, a PE ratio of 24.26, a P/E/G ratio of 2.79 and a beta of 0.90. American Tower Corporation has a 12 month low of $160.06 and a 12 month high of $214.79. 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 50 day simple moving average of $171.26 and a 200 day simple moving average of $177.76.

American Tower (NYSE:AMT) last posted its quarterly earnings results on Tuesday, July 28th. The real estate investment trust reported $2.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.57 by $1.14. The company had revenue of $2.75 billion for the quarter, compared to analysts’ expectations of $2.70 billion. American Tower had a return on equity of 32.76% and a net margin of 31.08%.The firm’s revenue was up 4.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.60 earnings per share. American Tower has set its FY 2026 guidance at 11.000-11.170 EPS. Equities research analysts forecast that American Tower Corporation will post 10.8 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Ruth T. Dowling sold 1,106 shares of the business’s stock in a transaction 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 directly 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 this link. 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 sale, the chief financial officer directly owned 21,428 shares of the company’s stock, valued at approximately $3,833,254.92. This represents a 18.92% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 6,791 shares of company stock worth $1,204,091 over the last ninety days. 0.08% of the stock is owned by insiders.

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.