AG2R LA Mondiale Gestion D Actifs Makes New $3.80 Million Investment in American Tower Corporation $AMT

Key Points

• AG2R LA Mondiale Gestion D Actifs has made a new investment of approximately $3.80 million in American Tower Corporation, acquiring 17,691 shares of the REIT.
• American Tower's stock has a consensus rating of "Moderate Buy" with an average target price of $244.73, according to various analysts' reports.
• Shares of American Tower recently opened at $196.44, highlighting a 52-week range between $172.51 and $241.97.

AG2R LA Mondiale Gestion D Actifs bought a new position in shares of American Tower Corporation (NYSE:AMT - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 17,691 shares of the real estate investment trust's stock, valued at approximately $3,797,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Elmwood Wealth Management Inc. boosted its holdings in American Tower by 2.5% during the first quarter. Elmwood Wealth Management Inc. now owns 2,087 shares of the real estate investment trust's stock worth $454,000 after buying an additional 50 shares during the last quarter. 4J Wealth Management LLC boosted its holdings in American Tower by 4.0% during the first quarter. 4J Wealth Management LLC now owns 1,301 shares of the real estate investment trust's stock worth $283,000 after buying an additional 50 shares during the last quarter. TCTC Holdings LLC raised its position in shares of American Tower by 15.8% during the first quarter. TCTC Holdings LLC now owns 374 shares of the real estate investment trust's stock worth $81,000 after purchasing an additional 51 shares during the period. Coyle Financial Counsel LLC raised its position in shares of American Tower by 2.4% during the first quarter. Coyle Financial Counsel LLC now owns 2,238 shares of the real estate investment trust's stock worth $487,000 after purchasing an additional 53 shares during the period. Finally, Fortitude Advisory Group L.L.C. raised its position in shares of American Tower by 2.9% during the first quarter. Fortitude Advisory Group L.L.C. now owns 1,907 shares of the real estate investment trust's stock worth $416,000 after purchasing an additional 54 shares during the period. Institutional investors own 92.69% of the company's stock.

Analysts Set New Price Targets

A number of research firms have recently commented on AMT. UBS Group raised their price target on American Tower from $250.00 to $260.00 and gave the stock a "buy" rating in a research report on Tuesday, July 8th. HSBC lowered American Tower from a "buy" rating to a "hold" rating and set a $235.00 price target on the stock. in a research report on Wednesday, July 30th. Hsbc Global Res lowered American Tower from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, July 30th. Wells Fargo & Company dropped their price target on American Tower from $240.00 to $230.00 and set an "overweight" rating on the stock in a research report on Wednesday, July 30th. Finally, Raymond James Financial set a $250.00 price target on American Tower and gave the stock a "strong-buy" rating in a research report on Wednesday, July 30th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $244.73.

Insider Buying and Selling at American Tower

In other American Tower news, CEO Juan Font sold 720 shares of the business's stock in a transaction that occurred on Thursday, July 31st. The stock was sold at an average price of $208.33, for a total transaction of $149,997.60. Following the transaction, the chief executive officer owned 23,425 shares of the company's stock, valued at $4,880,130.25. The trade was a 2.98% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.17% of the stock is owned by company insiders.

American Tower Stock Up 1.4%

Shares of American Tower stock opened at $196.44 on Friday. The business's 50 day simple moving average is $211.36 and its 200 day simple moving average is $213.42. American Tower Corporation has a 52-week low of $172.51 and a 52-week high of $241.97. The firm has a market cap of $91.98 billion, a PE ratio of 71.43, a P/E/G ratio of 1.20 and a beta of 0.86. 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 announced its earnings results on Tuesday, July 29th. The real estate investment trust reported $2.60 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.59 by $0.01. The business had revenue of $2.63 billion for the quarter, compared to analyst estimates of $2.58 billion. American Tower had a return on equity of 24.85% and a net margin of 12.60%.American Tower's revenue for the quarter was down 9.4% compared to the same quarter last year. During the same quarter last year, the firm earned $2.79 EPS. American Tower has set its FY 2025 guidance at 10.460-10.650 EPS. On average, analysts predict that American Tower Corporation will post 10.14 earnings per share for the current fiscal year.

American Tower 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.

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