UNIVEST FINANCIAL Corp Acquires Shares of 62,911 American Tower Corporation $AMT

UNIVEST FINANCIAL Corp bought a new position in shares of American Tower Corporation (NYSE:AMT) during the 2nd quarter, HoldingsChannel.com reports. The fund bought 62,911 shares of the real estate investment trust’s stock, valued at approximately $10,290,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Oakworth Capital Inc. increased its position 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 acquiring an additional 68 shares during the last quarter. Richards Merrill & Peterson Inc. bought a new stake in American Tower during the fourth quarter worth $25,000. Swiss RE Ltd. purchased a new position in American Tower in the fourth quarter worth $25,000. Triumph Capital Management purchased a new position in American Tower in the third quarter worth $29,000. Finally, Acumen Wealth Advisors LLC bought a new position in American Tower in the 4th quarter valued at $29,000. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on AMT. Royal Bank Of Canada raised American Tower from a “sector perform” rating to an “outperform” rating and raised their target price for the company from $195.00 to $205.00 in a research report on Friday, June 26th. JPMorgan Chase & Co. reduced their price target on shares of American Tower from $245.00 to $240.00 and set an “overweight” rating for the company in a research report on Wednesday, April 29th. Raymond James Financial restated a “strong-buy” rating and set a $240.00 price objective on shares of American Tower in a report on Wednesday, April 29th. Weiss Ratings upgraded shares of American Tower from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, July 14th. Finally, Scotiabank reiterated an “outperform” rating on shares of American Tower in a research note on Wednesday, July 29th. One research 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 company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $215.14.

Insider Transactions at American Tower

In related news, CFO Robert Joseph Meyer sold 5,000 shares of the firm’s stock in a transaction that occurred 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 directly 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Ruth T. Dowling sold 1,106 shares of American Tower 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 transaction, the executive vice president owned 27,711 shares of the company’s stock, 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. Insiders have sold 6,791 shares of company stock valued at $1,204,091 in the last quarter. Company insiders own 0.08% of the company’s stock.

American Tower Stock Performance

Shares of AMT opened at $172.12 on Tuesday. American Tower Corporation has a 1 year low of $160.06 and a 1 year high of $214.79. The company has a debt-to-equity ratio of 3.12, a current ratio of 0.52 and a quick ratio of 0.52. The stock’s fifty day moving average price is $172.48 and its two-hundred day moving average price is $177.87. The firm has a market cap of $80.20 billion, a PE ratio of 23.68, a PEG ratio of 2.79 and a beta of 0.90.

American Tower (NYSE:AMT) last posted its quarterly earnings results on Tuesday, July 28th. The real estate investment trust reported $2.71 earnings per share 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 company had revenue of $2.75 billion during the quarter, compared to the consensus estimate of $2.70 billion. During the same quarter in the prior year, the company earned $2.60 EPS. The firm’s quarterly 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. 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 disclosed a quarterly dividend, which was paid on Monday, July 13th. Shareholders of record on Friday, June 12th were issued 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 yield of 4.2%. American Tower’s dividend payout ratio is 98.49%.

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.