Baird Financial Group Inc. Sells 3,264 Shares of American Tower Corporation $AMT

Baird Financial Group Inc. reduced its position in American Tower Corporation (NYSE:AMT) by 2.3% during the second quarter, HoldingsChannel.com reports. The firm owned 139,450 shares of the real estate investment trust’s stock after selling 3,264 shares during the period. Baird Financial Group Inc.’s holdings in American Tower were worth $22,810,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in AMT. Arizona State Retirement System lifted its holdings in American Tower by 0.8% during the second quarter. Arizona State Retirement System now owns 129,329 shares of the real estate investment trust’s stock worth $21,154,000 after buying an additional 1,010 shares during the period. Edge Wealth Management LLC lifted its holdings in shares of American Tower by 0.4% during the 2nd quarter. Edge Wealth Management LLC now owns 59,087 shares of the real estate investment trust’s stock valued at $9,665,000 after purchasing an additional 245 shares during the last quarter. West Family Investments Inc. acquired a new stake in shares of American Tower in the 2nd quarter worth $474,000. Waverly Advisors LLC boosted its position in shares of American Tower by 16.7% in the 2nd quarter. Waverly Advisors LLC now owns 53,328 shares of the real estate investment trust’s stock worth $8,723,000 after purchasing an additional 7,649 shares in the last quarter. Finally, Nykredit A S purchased a new position in American Tower during the 2nd quarter worth $24,126,000. 92.69% of the stock is owned by hedge funds and other institutional investors.

American Tower News Roundup

Here are the key news stories impacting American Tower this week:

• Positive Sentiment: Brokerages maintain a consensus “Moderate Buy” recommendation, supporting investor confidence in American Tower’s long-term outlook. American Tower Receives Moderate Buy Recommendation
• Positive Sentiment: Recent value-investing coverage is comparing American Tower favorably with Host Hotels, while another article highlights AMT as a potential high-yield dividend opportunity for investors seeking recurring income. These reports may be attracting income-oriented buyers. HST or AMT: Which Is the Better Value Stock? High-Yielding Monthly Dividend Investments
• Positive Sentiment: At recent investor conferences, management discussed American Tower’s telecommunications infrastructure business and its growth outlook, giving investors additional insight into operations and future demand. American Tower at Citi’s Global TMT Conference
• Neutral Sentiment: American Tower priced $1.6 billion of senior unsecured notes due in 2031, 2033 and 2036, with coupon rates ranging from 5.300% to 5.560%. The offering provides long-term funding but also adds to the company’s already substantial debt burden. American Tower Prices Senior Notes Offering
• Negative Sentiment: American Tower recently underperformed the broader market in a prior session, indicating some continued pressure from valuation, interest-rate sensitivity and leverage concerns. American Tower Dips More Than the Broader Market

American Tower Price Performance

American Tower stock opened at $178.45 on Friday. The stock has a market cap of $83.15 billion, a P/E ratio of 24.55, a PEG ratio of 2.78 and a beta of 0.89. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 3.12. The company has a 50-day moving average price of $171.91 and a 200 day moving average price of $177.17. American Tower Corporation has a 12-month low of $160.06 and a 12-month high of $199.13.

American Tower (NYSE:AMT) last released its quarterly earnings results on Tuesday, July 28th. The real estate investment trust reported $2.71 earnings per share for the quarter, topping analysts’ consensus estimates of $1.57 by $1.14. The business had revenue of $2.75 billion during 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 company’s revenue was up 4.6% compared to the same quarter last year. During the same period in the prior year, the business posted $2.60 EPS. American Tower has set its FY 2026 guidance at 11.000-11.170 EPS. Sell-side analysts anticipate that American Tower Corporation will post 10.8 earnings per share for the current year.

Insider Activity at American Tower

In other news, Director Rajesh Kalathur purchased 2,829 shares of the firm’s stock in a transaction on Friday, August 21st. The shares were bought at an average cost of $177.00 per share, for a total transaction of $500,733.00. Following the completion of the purchase, the director directly owned 7,765 shares of the company’s stock, valued at approximately $1,374,405. This trade represents a 57.31% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Robert Joseph Meyer sold 5,000 shares of American Tower 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 completion of the sale, 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 SEC filing for this sale provides additional information. In the last quarter, insiders sold 6,791 shares of company stock worth $1,204,091. Insiders own 0.08% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Royal Bank Of Canada raised shares of American Tower from a “sector perform” rating to an “outperform” rating and raised their price target for the stock from $195.00 to $205.00 in a report on Friday, June 26th. Jefferies Financial Group decreased 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. Mizuho set a $208.00 price target on American Tower in a research report on Thursday, August 20th. BMO Capital Markets lifted their price objective on shares of American Tower from $190.00 to $195.00 and gave the company a “market perform” rating in a report on Wednesday, July 29th. Finally, Scotiabank reiterated an “outperform” rating on shares of American Tower in a research report on Wednesday, July 29th. One 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 company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $215.29.

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.