Aberdeen Group plc Reduces Position in American Tower Corporation $AMT

Key Points

• Aberdeen Group plc has reduced its holdings in American Tower Corporation by 5.3%, selling 37,331 shares and now owning a total of 672,968 shares valued at approximately $145.98 million.
• Several institutional investors, including Golden State Wealth Management and AEGON ASSET MANAGEMENT UK Plc, have increased their stakes, indicating a mixed sentiment among major shareholders.
• American Tower's recent quarterly earnings reported an EPS of $2.60, slightly exceeding analyst expectations, with revenue of $2.63 billion, though this represents a 9.4% year-over-year decline.

Aberdeen Group plc decreased its position in shares of American Tower Corporation (NYSE:AMT - Free Report) by 5.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 672,968 shares of the real estate investment trust's stock after selling 37,331 shares during the period. Aberdeen Group plc owned approximately 0.14% of American Tower worth $145,984,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Brighton Jones LLC boosted its position in shares of American Tower by 113.0% during the 4th quarter. Brighton Jones LLC now owns 3,966 shares of the real estate investment trust's stock valued at $727,000 after acquiring an additional 2,104 shares during the last quarter. CreativeOne Wealth LLC increased its position in American Tower by 2.1% in the fourth quarter. CreativeOne Wealth LLC now owns 2,601 shares of the real estate investment trust's stock worth $477,000 after purchasing an additional 54 shares during the last quarter. XTX Topco Ltd purchased a new stake in American Tower during the fourth quarter valued at $336,000. Bridgewater Associates LP bought a new position in American Tower during the fourth quarter valued at $354,000. Finally, Regal Investment Advisors LLC lifted its position in American Tower by 22.8% during the fourth quarter. Regal Investment Advisors LLC now owns 4,930 shares of the real estate investment trust's stock valued at $904,000 after purchasing an additional 914 shares during the last quarter. 92.69% of the stock is owned by institutional investors.

Insider Transactions at American Tower

In related news, CEO Juan Font sold 720 shares of the firm's stock in a transaction dated Thursday, July 31st. The stock was sold at an average price of $208.33, for a total transaction of $149,997.60. Following the sale, the chief executive officer owned 23,425 shares of the company's stock, valued at $4,880,130.25. This trade represents a 2.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.17% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on AMT shares. The Goldman Sachs Group restated a "buy" rating on shares of American Tower in a research report on Tuesday, July 29th. Wells Fargo & Company reduced their price objective on American Tower from $240.00 to $230.00 and set an "overweight" rating on the stock in a research note on Wednesday, July 30th. Royal Bank Of Canada raised their price objective on American Tower from $250.00 to $260.00 and gave the company an "outperform" rating in a research note on Thursday, July 31st. HSBC cut American Tower from a "buy" rating to a "hold" rating and set a $235.00 target price for the company. in a report on Wednesday, July 30th. Finally, Raymond James Financial set a $250.00 price target on American Tower and gave the company a "strong-buy" rating in a report on Wednesday, July 30th. Two research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $244.73.

American Tower Trading Up 1.3%

AMT stock traded up $2.5840 during midday trading on Wednesday, reaching $209.2340. The company's stock had a trading volume of 2,217,515 shares, compared to its average volume of 2,376,061. American Tower Corporation has a 1 year low of $172.51 and a 1 year high of $243.56. The firm has a market capitalization of $97.97 billion, a price-to-earnings ratio of 76.09, a PEG ratio of 1.18 and a beta of 0.82. The stock has a fifty day simple moving average of $216.98 and a two-hundred day simple moving average of $212.11. The company has a debt-to-equity ratio of 3.36, a quick ratio of 0.95 and a current ratio of 0.95.

American Tower (NYSE:AMT - Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. The real estate investment trust reported $2.60 earnings per share for the quarter, beating the consensus estimate of $2.59 by $0.01. The firm had revenue of $2.63 billion during the quarter, compared to the consensus estimate of $2.58 billion. American Tower had a net margin of 12.60% and a return on equity of 24.85%. The company's revenue was down 9.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.79 earnings per share. American Tower has set its FY 2025 guidance at 10.460-10.650 EPS. On average, equities research analysts predict that American Tower Corporation will post 10.14 EPS for the current year.

American Tower Company Profile

American Tower, one of the largest global REITs, is a leading independent owner, operator and developer of multitenant communications real estate with a portfolio of over 224,000 communications sites and a highly interconnected footprint of U.S. data center facilities.