Equitable Holdings Inc. Invests $1.58 Million in American Tower Corporation $AMT

Equitable Holdings Inc. acquired a new stake in shares of American Tower Corporation (NYSE:AMT) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 9,649 shares of the real estate investment trust’s stock, valued at approximately $1,578,000.

Several other institutional investors also recently bought and sold shares of AMT. Swiss RE Ltd. purchased a new position in shares of American Tower in the 4th quarter valued at $25,000. Triumph Capital Management purchased a new stake in shares of American Tower during the 3rd quarter worth $29,000. Acumen Wealth Advisors LLC bought a new stake in American Tower during the fourth quarter valued at about $29,000. Lloyd Advisory Services LLC. bought a new stake in American Tower during the fourth quarter valued at about $30,000. Finally, Allied Private Wealth LLC purchased a new position in American Tower in the second quarter valued at about $29,000. 92.69% of the stock is owned by hedge funds and other institutional investors.

American Tower Trading Up 1.2%

American Tower stock opened at $176.25 on Friday. 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 $82.13 billion, a PE ratio of 24.24, a price-to-earnings-growth ratio of 2.76 and a beta of 0.90. The stock has a 50-day moving average of $170.87 and a two-hundred day moving average of $177.87. American Tower Corporation has a one year low of $160.06 and a one year high of $205.21.

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 for the quarter, topping analysts’ consensus estimates of $1.57 by $1.14. American Tower had a return on equity of 32.76% and a net margin of 31.08%.The business had revenue of $2.75 billion for the quarter, compared to analyst estimates of $2.70 billion. During the same quarter in the previous year, the firm earned $2.60 earnings per share. The company’s revenue was up 4.6% on a year-over-year basis. American Tower has set its FY 2026 guidance at 11.000-11.170 EPS. On average, research analysts anticipate that American Tower Corporation will post 10.8 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have commented on AMT. Mizuho set a $208.00 price target on shares of American Tower in a research report on Thursday, August 20th. Weiss Ratings raised shares of American Tower from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, July 14th. BMO Capital Markets boosted their price objective on shares of American Tower from $190.00 to $195.00 and gave the stock a “market perform” rating in a research note on Wednesday, July 29th. Scotiabank reissued an “outperform” rating on shares of American Tower in a research report on Wednesday, July 29th. Finally, Wolfe Research raised shares of American Tower from a “peer perform” rating to an “outperform” rating and set a $188.00 price target on the stock in a report on Wednesday, July 8th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, American Tower presently has an average rating of “Moderate Buy” and a consensus price target of $215.29.

Insider Buying and Selling

In other American Tower news, CFO Robert Joseph Meyer sold 5,000 shares of the firm’s 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 transaction, the chief financial officer owned 21,428 shares of the company’s stock, valued at approximately $3,833,254.92. This trade represents a 18.92% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Ruth T. Dowling sold 1,106 shares of the business’s stock in a transaction 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 sale, the executive vice president directly owned 27,711 shares in the company, valued at $4,848,316.56. This trade represents a 3.84% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 6,791 shares of company stock worth $1,204,091 in the last three months. Corporate insiders own 0.08% of the company’s stock.

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.