Lasalle Investment Management Securities LLC Raises Stake in American Tower Corporation $AMT

Lasalle Investment Management Securities LLC grew its position in shares of American Tower Corporation (NYSE:AMT) by 7.3% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 695,301 shares of the real estate investment trust’s stock after buying an additional 47,044 shares during the quarter. American Tower accounts for 4.0% of Lasalle Investment Management Securities LLC’s portfolio, making the stock its 7th largest position. Lasalle Investment Management Securities LLC’s holdings in American Tower were worth $113,730,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the company. BlackRock Inc. bought a new position in American Tower in the 2nd quarter valued at approximately $7,490,943,000. J. Stern & Co. LLP increased its holdings in shares of American Tower by 28,121.1% in the 4th quarter. J. Stern & Co. LLP now owns 37,686,978 shares of the real estate investment trust’s stock worth $6,616,703,000 after purchasing an additional 37,553,436 shares in the last quarter. State Street Corp raised its stake in shares of American Tower by 0.3% in the fourth quarter. State Street Corp now owns 20,987,534 shares of the real estate investment trust’s stock worth $3,719,634,000 after purchasing an additional 71,605 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of American Tower by 1.7% in the fourth quarter. Geode Capital Management LLC now owns 13,499,035 shares of the real estate investment trust’s stock worth $2,361,675,000 after purchasing an additional 227,361 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. lifted its holdings in shares of American Tower by 20,721.6% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 9,712,672 shares of the real estate investment trust’s stock valued at $1,705,254,000 after purchasing an additional 9,666,025 shares in the last quarter. 92.69% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Truist Financial reiterated a “buy” rating and issued a $207.00 price objective (down from $208.00) on shares of American Tower in a report on Wednesday, August 12th. BMO Capital Markets upped their target price on shares of American Tower from $190.00 to $195.00 and gave the company a “market perform” rating in a research note on Wednesday, July 29th. The Goldman Sachs Group set a $210.00 price target on shares of American Tower in a report on Tuesday, July 28th. Scotiabank reissued an “outperform” rating on shares of American Tower in a report on Wednesday, July 29th. Finally, Wolfe Research upgraded shares of American Tower from a “peer perform” rating to an “outperform” rating and set a $188.00 price objective on the stock in a research report on Wednesday, July 8th. One 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.com, the company has a consensus rating of “Moderate Buy” and an average price target of $215.29.

American Tower Trading Up 0.4%

Shares of NYSE:AMT opened at $176.36 on Friday. The stock’s 50-day simple moving average is $171.26 and its two-hundred day simple moving average is $177.76. The stock has a market capitalization of $82.18 billion, a price-to-earnings ratio of 24.26, a PEG ratio of 2.79 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 debt-to-equity ratio of 3.12, a quick ratio of 0.52 and a current ratio of 0.52.

American Tower (NYSE:AMT) last released its quarterly earnings results on Tuesday, July 28th. The real estate investment trust reported $2.71 EPS for the quarter, beating 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 firm had revenue of $2.75 billion during the quarter, compared to analyst estimates of $2.70 billion. During the same quarter in the prior year, the firm earned $2.60 EPS. The business’s revenue for the quarter 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. Analysts expect that American Tower Corporation will post 10.8 EPS for the current year.

Insider Activity at American Tower

In other American Tower news, EVP Ruth T. Dowling sold 1,106 shares of the company’s stock in a transaction that occurred on Wednesday, July 29th. The shares were sold at an average price of $174.96, for a total transaction of $193,505.76. Following the completion of the sale, the executive vice president directly owned 27,711 shares of the company’s stock, valued at approximately $4,848,316.56. This represents a 3.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, 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 transaction of $894,450.00. Following the completion of the transaction, the chief financial officer owned 21,428 shares in the company, valued at $3,833,254.92. The trade was 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 valued at $1,204,091 over the last 90 days. 0.08% of the stock is currently owned by company 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.