K.J. Harrison & Partners Inc Invests $2.70 Million in American Tower Corporation $AMT

K.J. Harrison & Partners Inc purchased a new stake in American Tower Corporation (NYSE:AMT) in the 2nd quarter, according to its most recent disclosure with the SEC. The fund purchased 16,500 shares of the real estate investment trust’s stock, valued at approximately $2,699,000.

A number of other institutional investors have also modified their holdings of the business. Richards Merrill & Peterson Inc. bought a new position in American Tower in the fourth quarter worth about $25,000. Oakworth Capital Inc. grew its holdings in shares of American Tower by 90.7% during the fourth quarter. Oakworth Capital Inc. now owns 143 shares of the real estate investment trust’s stock valued at $25,000 after purchasing an additional 68 shares during the last quarter. Swiss RE Ltd. acquired a new stake in shares of American Tower during the 4th quarter worth approximately $25,000. Allied Private Wealth LLC acquired a new stake in shares of American Tower during the 2nd quarter worth approximately $29,000. Finally, Triumph Capital Management bought a new stake in shares of American Tower in the 3rd quarter worth approximately $29,000. Institutional investors own 92.69% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Ruth T. Dowling sold 1,106 shares of the firm’s stock in a transaction on Wednesday, July 29th. The stock was sold at an average price of $174.96, for a total transaction of $193,505.76. Following the transaction, the executive vice president directly owned 27,711 shares of the company’s stock, valued at approximately $4,848,316.56. This trade represents a 3.84% decrease in their ownership of the stock. The sale was disclosed in a document filed 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 American Tower stock in a transaction dated Wednesday, July 29th. The shares were sold at an average price of $178.89, for a total transaction of $894,450.00. Following the sale, the chief financial officer owned 21,428 shares in the company, valued at approximately $3,833,254.92. This represents a 18.92% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 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 Performance

Shares of NYSE AMT opened at $172.12 on Tuesday. American Tower Corporation has a 12-month low of $160.06 and a 12-month high of $214.79. The company has a market cap of $80.20 billion, a PE ratio of 23.68, a P/E/G ratio of 2.79 and a beta of 0.90. The stock has a 50 day simple moving average of $172.48 and a 200-day simple moving average of $177.87. 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 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 firm had revenue of $2.75 billion for 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% compared to the same quarter last year. During the same period last year, the firm earned $2.60 EPS. American Tower has set its FY 2026 guidance at 11.000-11.170 EPS. On average, equities research analysts forecast that American Tower Corporation will post 10.78 EPS for the current year.

American Tower Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, July 13th. Stockholders of record on Friday, June 12th were paid a $1.79 dividend. The ex-dividend date of this dividend was Friday, June 12th. This represents a $7.16 annualized dividend and a dividend yield of 4.2%. American Tower’s dividend payout ratio is presently 98.49%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on AMT shares. Weiss Ratings upgraded American Tower from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, July 14th. BMO Capital Markets raised their target price on American Tower from $190.00 to $195.00 and gave the company a “market perform” rating in a research note on Wednesday, July 29th. Jefferies Financial Group reduced their price target on shares of American Tower from $210.00 to $201.00 and set a “buy” rating for the company in a report on Wednesday, July 15th. The Goldman Sachs Group set a $210.00 price target on shares of American Tower in a research report on Tuesday, July 28th. Finally, Royal Bank Of Canada raised shares of American Tower from a “sector perform” rating to an “outperform” rating and increased their price objective for the stock from $195.00 to $205.00 in a report on Friday, June 26th. 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. Based on data from MarketBeat.com, American Tower currently has a consensus rating of “Moderate Buy” and a consensus price target of $215.14.

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.