Danske Bank A S Cuts Stock Holdings in American Tower Corporation $AMT

Danske Bank A S lowered its holdings in American Tower Corporation (NYSE:AMT) by 2.4% in the 2nd quarter, HoldingsChannel reports. The firm owned 252,978 shares of the real estate investment trust’s stock after selling 6,200 shares during the quarter. Danske Bank A S’s holdings in American Tower were worth $41,380,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Richards Merrill & Peterson Inc. bought a new stake in American Tower during the 4th quarter valued at $25,000. Oakworth Capital Inc. raised its position in shares of 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 in the last quarter. Swiss RE Ltd. purchased a new stake in shares of American Tower during the 4th quarter worth $25,000. Allied Private Wealth LLC purchased a new stake in shares of American Tower during the 2nd quarter worth $29,000. Finally, Triumph Capital Management bought a new stake in American Tower during the third quarter valued at about $29,000. 92.69% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have commented on AMT. Raymond James Financial reissued a “strong-buy” rating and set a $240.00 price target on shares of American Tower in a research report on Wednesday, April 29th. Weiss Ratings upgraded shares of American Tower from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, July 14th. Truist Financial reissued a “buy” rating and set a $207.00 target price (down from $208.00) on shares of American Tower in a research report on Wednesday, August 12th. TD Cowen raised their target price on shares of American Tower from $225.00 to $227.00 and gave the company a “buy” rating in a research note on Wednesday, July 29th. Finally, JPMorgan Chase & Co. cut their price target on shares of American Tower from $245.00 to $240.00 and set an “overweight” rating on the stock in a report on Wednesday, April 29th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, American Tower currently has an average rating of “Moderate Buy” and an average target price of $215.14.

Insiders Place Their Bets

In related news, EVP Ruth T. Dowling sold 1,106 shares of the company’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 directly owned 27,711 shares of the company’s stock, valued at $4,848,316.56. This represents a 3.84% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Robert Joseph Meyer sold 5,000 shares of the firm’s stock in a transaction 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 completion of the transaction, the chief financial officer owned 21,428 shares of the company’s stock, valued at $3,833,254.92. This trade represents a 18.92% decrease in their position. 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 three months. Corporate insiders own 0.08% of the company’s stock.

American Tower Stock Up 1.3%

AMT stock opened at $174.54 on Thursday. The stock has a market capitalization of $81.33 billion, a PE ratio of 24.01, a price-to-earnings-growth ratio of 2.73 and a beta of 0.90. American Tower Corporation has a 52 week low of $160.06 and a 52 week high of $214.79. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 3.12. The firm has a 50 day moving average of $171.75 and a 200 day moving average of $177.79.

American Tower (NYSE:AMT) last issued its quarterly earnings results on Tuesday, July 28th. The real estate investment trust reported $2.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.57 by $1.14. The business had revenue of $2.75 billion for the quarter, compared to analyst estimates of $2.70 billion. American Tower had a net margin of 31.08% and a return on equity of 32.76%. American Tower’s revenue for the quarter was up 4.6% compared to the same quarter last year. During the same quarter 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 forecast that American Tower Corporation will post 10.78 earnings per share 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.