Sequoia Financial Advisors LLC Purchases 3,221 Shares of American Tower Corporation $AMT

Sequoia Financial Advisors LLC boosted its position in American Tower Corporation (NYSE:AMT) by 35.4% during the second quarter, HoldingsChannel reports. The fund owned 12,326 shares of the real estate investment trust’s stock after buying an additional 3,221 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in American Tower were worth $2,016,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in AMT. Riverwater Partners LLC raised its position in shares of American Tower by 3.8% in the fourth quarter. Riverwater Partners LLC now owns 1,536 shares of the real estate investment trust’s stock valued at $270,000 after purchasing an additional 56 shares during the period. Twin City Private Wealth LLC grew its stake in American Tower by 0.7% in the 4th quarter. Twin City Private Wealth LLC now owns 7,799 shares of the real estate investment trust’s stock valued at $1,382,000 after buying an additional 58 shares in the last quarter. Asset Advisory Group Inc. raised its holdings in American Tower by 3.0% during the 1st quarter. Asset Advisory Group Inc. now owns 2,072 shares of the real estate investment trust’s stock valued at $358,000 after acquiring an additional 60 shares during the period. Argent Advisors Inc. raised its holdings in American Tower by 0.9% during the 4th quarter. Argent Advisors Inc. now owns 6,625 shares of the real estate investment trust’s stock valued at $1,163,000 after acquiring an additional 61 shares during the period. Finally, Anchor Investment Management LLC lifted its position in shares of American Tower by 2.7% during the fourth quarter. Anchor Investment Management LLC now owns 2,351 shares of the real estate investment trust’s stock worth $413,000 after acquiring an additional 62 shares in the last quarter. Institutional investors own 92.69% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on AMT shares. Wolfe Research upgraded American Tower from a “peer perform” rating to an “outperform” rating and set a $188.00 price target for the company in a research report on Wednesday, July 8th. Weiss Ratings raised shares of American Tower from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, July 14th. Jefferies Financial Group reduced their price objective on shares of American Tower from $210.00 to $201.00 and set a “buy” rating for the company in a research note on Wednesday, July 15th. TD Cowen upped their target price on shares of 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 shares of American Tower in a report on Thursday, August 20th. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $215.29.

Insider Activity

In other news, Director Rajesh Kalathur acquired 2,829 shares of the firm’s stock in a transaction that occurred on Friday, August 21st. The shares were bought at an average cost of $177.00 per share, with a total value of $500,733.00. Following the acquisition, the director owned 7,765 shares in the company, valued at approximately $1,374,405. This represents a 57.31% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Ruth 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 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 position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 6,791 shares of company stock worth $1,204,091. 0.08% of the stock is currently owned by insiders.

American Tower Stock Performance

American Tower stock opened at $176.88 on Tuesday. American Tower Corporation has a fifty-two week low of $160.06 and a fifty-two week high of $199.13. The company has a debt-to-equity ratio of 3.12, a quick ratio of 0.52 and a current ratio of 0.52. The stock has a market cap of $82.42 billion, a P/E ratio of 24.33, a price-to-earnings-growth ratio of 2.85 and a beta of 0.89. The firm’s fifty day moving average price is $172.21 and its 200-day moving average price is $176.98.

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 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 analyst estimates of $2.70 billion. During the same period in the previous year, the business earned $2.60 earnings per share. The firm’s quarterly 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. On average, equities research analysts expect that American Tower Corporation will post 10.8 earnings per share for the current fiscal year.

American Tower Company Profile

American Tower Corporation (NYSE:AMT) is a global owner, operator and developer of wireless communications infrastructure. The company leases space on communications sites, including towers, rooftops and other structures, to wireless carriers, broadcasters, government agencies and other customers. Its infrastructure supports wireless networks and the transmission of voice, data and video services.

In addition to traditional macro towers, American Tower provides distributed antenna systems and other in-building or venue-based communications solutions designed to improve wireless coverage and capacity.