Global Retirement Partners LLC Invests $2.40 Million in American Tower Corporation $AMT

Global Retirement Partners LLC purchased a new position in American Tower Corporation (NYSE:AMT) during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 14,679 shares of the real estate investment trust’s stock, valued at approximately $2,401,000.

Several other hedge funds have also recently bought and sold shares of the company. Raleigh Capital Management Inc. grew its position in shares of American Tower by 489.1% in the first quarter. Raleigh Capital Management Inc. now owns 13,703 shares of the real estate investment trust’s stock valued at $2,365,000 after purchasing an additional 11,377 shares during the last quarter. Canal Capital Management LLC raised its position in shares of American Tower by 81.9% during the 1st quarter. Canal Capital Management LLC now owns 34,471 shares of the real estate investment trust’s stock worth $5,949,000 after purchasing an additional 15,520 shares during the last quarter. Bernzott Capital Advisors raised its position in shares of American Tower by 29.3% during the 1st quarter. Bernzott Capital Advisors now owns 42,161 shares of the real estate investment trust’s stock worth $7,276,000 after purchasing an additional 9,556 shares during the last quarter. Legal & General Group Plc lifted its stake in American Tower by 4.7% in the 4th quarter. Legal & General Group Plc now owns 4,873,695 shares of the real estate investment trust’s stock valued at $855,675,000 after buying an additional 220,447 shares in the last quarter. Finally, Swiss Life Asset Management Ltd grew its holdings in American Tower by 13.9% during the 4th quarter. Swiss Life Asset Management Ltd now owns 101,993 shares of the real estate investment trust’s stock valued at $17,907,000 after buying an additional 12,464 shares during the last quarter. 92.69% of the stock is owned by hedge funds and other institutional investors.

American Tower Stock Performance

American Tower stock opened at $175.68 on Monday. The stock has a fifty day moving average price of $172.82 and a 200 day moving average price of $177.93. American Tower Corporation has a 52 week low of $160.06 and a 52 week high of $214.79. The firm has a market capitalization of $81.86 billion, a P/E ratio of 24.17, a PEG ratio of 2.79 and a beta of 0.90. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 3.12.

American Tower (NYSE:AMT) last posted 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. The company 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 firm’s revenue was up 4.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.60 EPS. American Tower has set its FY 2026 guidance at 11.000-11.170 EPS. Equities research analysts anticipate that American Tower Corporation will post 10.78 earnings per share for the current year.

American Tower Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 13th. Stockholders of record on Friday, June 12th were paid a dividend of $1.79 per share. The ex-dividend date of this dividend was Friday, June 12th. This represents a $7.16 annualized dividend and a dividend yield of 4.1%. American Tower’s payout ratio is currently 98.49%.

Insiders Place Their Bets

In other news, CFO Robert Joseph Meyer sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, July 29th. The stock was sold at an average price of $178.89, for a total value of $894,450.00. Following the transaction, the chief financial officer directly owned 21,428 shares in the company, valued at $3,833,254.92. This trade represents a 18.92% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Ruth T. Dowling sold 1,106 shares of American Tower stock in a transaction dated Wednesday, July 29th. The shares were sold at an average price of $174.96, for a total value of $193,505.76. Following the completion of the transaction, the executive vice president directly owned 27,711 shares in the company, valued at $4,848,316.56. This represents a 3.84% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 6,791 shares of company stock valued at $1,204,091. Insiders own 0.08% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on AMT shares. Citizens Jmp reissued a “market outperform” rating and set a $260.00 price target on shares of American Tower in a research report on Wednesday, April 29th. Raymond James Financial restated a “strong-buy” rating and issued a $240.00 price objective on shares of American Tower in a research report on Wednesday, April 29th. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $214.00 price objective on shares of American Tower in a research note on Wednesday, July 29th. BMO Capital Markets boosted 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. Finally, JPMorgan Chase & Co. reduced their target price 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 research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $215.14.

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.