J. Goldman & Co LP Sells 4,099 Shares of American Tower Corporation $AMT

J. Goldman & Co LP trimmed its position in American Tower Corporation (NYSE:AMT) by 73.2% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 1,501 shares of the real estate investment trust’s stock after selling 4,099 shares during the period. J. Goldman & Co LP’s holdings in American Tower were worth $246,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in AMT. Riverwater Partners LLC boosted its position in American Tower by 3.8% during the 4th quarter. Riverwater Partners LLC now owns 1,536 shares of the real estate investment trust’s stock valued at $270,000 after buying an additional 56 shares during the period. Triumph Capital Management increased its position in shares of American Tower by 37.3% in the fourth quarter. Triumph Capital Management now owns 206 shares of the real estate investment trust’s stock valued at $36,000 after acquiring an additional 56 shares during the period. Twin City Private Wealth LLC increased its position in shares of American Tower by 0.7% in the fourth 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 acquiring an additional 58 shares during the period. Asset Advisory Group Inc. raised its stake in shares of American Tower by 3.0% during the first 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 last quarter. Finally, Argent Advisors Inc. grew its stake in shares of American Tower by 0.9% in the fourth quarter. Argent Advisors Inc. now owns 6,625 shares of the real estate investment trust’s stock worth $1,163,000 after purchasing an additional 61 shares during the last quarter. 92.69% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have commented on AMT shares. JPMorgan Chase & Co. lowered their price target on American Tower from $245.00 to $240.00 and set an “overweight” rating for the company in a research report on Wednesday, April 29th. Citizens Jmp restated a “market outperform” rating and set a $260.00 target price on shares of American Tower in a report on Wednesday, April 29th. Jefferies Financial Group dropped their price target on American Tower from $210.00 to $201.00 and set a “buy” rating for the company in a research note on Wednesday, July 15th. Scotiabank reiterated an “outperform” rating on shares of American Tower in a report on Wednesday, July 29th. Finally, Truist Financial reissued a “buy” rating and set a $207.00 price objective (down from $208.00) on shares of American Tower in a research report on Wednesday, August 12th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, American Tower currently has a consensus rating of “Moderate Buy” and a consensus price target of $215.29.

Insider Activity at American Tower

In related news, CFO Robert Joseph Meyer sold 5,000 shares of the company’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 sale, the chief financial officer directly 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 at this link. Also, Director Rajesh Kalathur acquired 2,829 shares of the business’s stock in a transaction on Friday, August 21st. The stock was acquired at an average price of $177.00 per share, for a total transaction of $500,733.00. Following the acquisition, the director owned 7,765 shares of the company’s stock, valued at approximately $1,374,405. This trade represents a 57.31% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have sold 6,791 shares of company stock worth $1,204,091 over the last ninety days. 0.08% of the stock is owned by corporate insiders.

American Tower Stock Performance

American Tower stock opened at $175.78 on Thursday. The stock’s 50 day simple moving average is $170.89 and its two-hundred day simple moving average is $177.86. 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 $81.91 billion, a price-to-earnings ratio of 24.18, a PEG ratio of 2.83 and a beta of 0.90. American Tower Corporation has a fifty-two week low of $160.06 and a fifty-two week high of $208.03.

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 return on equity of 32.76% and a net margin of 31.08%.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 company earned $2.60 EPS. The business’s 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. As a group, analysts expect that American Tower Corporation will post 10.8 earnings per share for the current fiscal 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.