Equitable Holdings Inc. Takes $1.58 Million Position in American Tower Corporation $AMT

Equitable Holdings Inc. bought a new position in American Tower Corporation (NYSE:AMT) in the second quarter, according to the company in its most recent filing with the SEC. The fund bought 9,649 shares of the real estate investment trust’s stock, valued at approximately $1,578,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of AMT. Centaurus Financial Inc. bought a new stake in American Tower in the second quarter worth $145,000. Brasada Capital Management LP bought a new position in American Tower during the second quarter valued at $501,000. Pacific Heights Asset Management LLC bought a new position in American Tower during the second quarter valued at $32,714,000. Public Employees Retirement System of Ohio purchased a new stake in shares of American Tower in the second quarter valued at $28,411,000. Finally, MASTERINVEST Kapitalanlage GmbH bought a new stake in shares of American Tower in the 2nd quarter worth about $280,000. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Insider Activity at American Tower

In related 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 transaction, the chief financial officer 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 Securities & Exchange Commission, which is available through the SEC website. Also, EVP Ruth T. Dowling sold 1,106 shares of the firm’s 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 transaction, the executive vice president owned 27,711 shares in the company, valued at $4,848,316.56. The trade was 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. Over the last quarter, insiders sold 6,791 shares of company stock worth $1,204,091. Company insiders own 0.08% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently commented on AMT. The Goldman Sachs Group set a $210.00 price target on shares of American Tower in a report on Tuesday, July 28th. Wolfe Research upgraded American Tower from a “peer perform” rating to an “outperform” rating and set a $188.00 target price for the company in a research report on Wednesday, July 8th. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $214.00 target price on shares of American Tower in a research note on Wednesday, July 29th. TD Cowen increased their price target on American Tower from $225.00 to $227.00 and gave the stock a “buy” rating in a report on Wednesday, July 29th. Finally, Mizuho set a $208.00 price target on American Tower in a research note on Thursday, August 20th. 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 company currently has an average rating of “Moderate Buy” and an average price target of $215.29.

American Tower Trading Up 1.2%

Shares of AMT opened at $176.25 on Friday. The firm has a market capitalization of $82.13 billion, a price-to-earnings ratio of 24.24, a PEG ratio of 2.76 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 1-year low of $160.06 and a 1-year high of $205.21. The company has a 50-day moving average of $170.87 and a 200 day moving average of $177.87.

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

American Tower Company 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.