Connor Clark & Lunn Investment Management Ltd. Acquires 43,914 Shares of American Tower Corporation $AMT

Connor Clark & Lunn Investment Management Ltd. increased its holdings in American Tower Corporation (NYSE:AMT) by 23.1% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 233,828 shares of the real estate investment trust’s stock after acquiring an additional 43,914 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned about 0.05% of American Tower worth $38,247,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in AMT. Barrow Hanley Mewhinney & Strauss LLC raised its holdings in American Tower by 29.7% in the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,057,200 shares of the real estate investment trust’s stock worth $336,496,000 after purchasing an additional 471,600 shares in the last quarter. Compass Financial Management LLC purchased a new position in shares of American Tower during the second quarter valued at about $49,000. Alta Advisers Ltd increased its position in shares of American Tower by 28.0% during the second quarter. Alta Advisers Ltd now owns 2,109 shares of the real estate investment trust’s stock valued at $345,000 after buying an additional 461 shares during the period. Stiles Financial Services Inc raised its stake in American Tower by 3.9% in the second quarter. Stiles Financial Services Inc now owns 13,062 shares of the real estate investment trust’s stock worth $2,137,000 after buying an additional 485 shares in the last quarter. Finally, Commerce Bank raised its stake in American Tower by 7.3% in the second quarter. Commerce Bank now owns 36,835 shares of the real estate investment trust’s stock worth $6,025,000 after buying an additional 2,491 shares in the last quarter. Institutional investors own 92.69% of the company’s stock.

American Tower Trading Up 1.5%

NYSE AMT opened at $178.38 on Tuesday. American Tower Corporation has a 12 month low of $160.06 and a 12 month high of $211.91. The stock has a market cap of $83.12 billion, a P/E ratio of 24.54, a P/E/G ratio of 2.78 and a beta of 0.90. The stock’s fifty day moving average price is $171.11 and its 200-day moving average price is $177.82. 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 issued 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 net margin of 31.08% and a return on equity of 32.76%. The business had revenue of $2.75 billion during the quarter, compared to analysts’ expectations of $2.70 billion. During the same period in the previous year, the company earned $2.60 earnings per share. The business’s revenue for the quarter 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, equities analysts forecast that American Tower Corporation will post 10.8 EPS for the current fiscal year.

Insider Buying and Selling

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 value of $193,505.76. Following the transaction, 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 position. The transaction was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, 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 completion of the transaction, the chief financial officer directly owned 21,428 shares in the company, valued at $3,833,254.92. The trade was a 18.92% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 6,791 shares of company stock valued at $1,204,091. 0.08% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. BMO Capital Markets lifted their price target on American Tower from $190.00 to $195.00 and gave the company a “market perform” rating in a research report on Wednesday, July 29th. Wolfe Research upgraded American Tower from a “peer perform” rating to an “outperform” rating and set a $188.00 price objective for the company in a report on Wednesday, July 8th. Scotiabank reissued an “outperform” rating on shares of American Tower in a research report on Wednesday, July 29th. Citizens Jmp reaffirmed a “market outperform” rating and issued a $260.00 target price on shares of American Tower in a research report on Wednesday, April 29th. Finally, Raymond James Financial reissued a “strong-buy” rating and set a $240.00 price target on shares of American Tower in a research report on Wednesday, April 29th. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, American Tower has an average rating of “Moderate Buy” and an average price target of $215.29.

American Tower 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.