Alyeska Investment Group L.P. Purchases Shares of 745,070 American Tower Corporation $AMT

Key Points

• Alyeska Investment Group L.P. acquired 745,070 shares of American Tower Corporation, valued at approximately $162 million, now owning 0.16% of the company.
• American Tower's recent earnings report revealed a 9.4% year-over-year revenue decline but exceeded EPS expectations with a reported $2.60 EPS.
• Wall Street analysts have varying opinions, with HSBC lowering its rating to "hold," while Raymond James and JPMorgan have set price targets as high as $255 to $260 with a "strong buy" rating.

Alyeska Investment Group L.P. bought a new stake in American Tower Corporation (NYSE:AMT - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 745,070 shares of the real estate investment trust's stock, valued at approximately $162,127,000. Alyeska Investment Group L.P. owned about 0.16% of American Tower as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of AMT. Elmwood Wealth Management Inc. boosted its stake 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 acquiring an additional 50 shares in the last quarter. 4J Wealth Management LLC lifted its stake in American Tower by 4.0% during the 1st quarter. 4J Wealth Management LLC now owns 1,301 shares of the real estate investment trust's stock valued at $283,000 after acquiring an additional 50 shares in the last quarter. TCTC Holdings LLC grew its stake in American Tower by 15.8% in the 1st quarter. TCTC Holdings LLC now owns 374 shares of the real estate investment trust's stock valued at $81,000 after purchasing an additional 51 shares during the period. Coyle Financial Counsel LLC grew its stake in American Tower by 2.4% in the 1st quarter. Coyle Financial Counsel LLC now owns 2,238 shares of the real estate investment trust's stock valued at $487,000 after purchasing an additional 53 shares during the period. Finally, Fortitude Advisory Group L.L.C. raised its holdings in shares of American Tower by 2.9% in the 1st 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 and hedge funds own 92.69% of the company's stock.

Analyst Upgrades and Downgrades

AMT has been the subject of a number of analyst reports. Wells Fargo & Company cut their price target on American Tower from $240.00 to $230.00 and set an "overweight" rating for the company in a report on Wednesday, July 30th. Barclays increased their target price on shares of American Tower from $246.00 to $250.00 and gave the company an "overweight" rating in a report on Monday, August 18th. Royal Bank Of Canada boosted their price target on shares of American Tower from $250.00 to $260.00 and gave the stock an "outperform" rating in a research note on Thursday, July 31st. Bank of America assumed coverage on shares of American Tower in a report on Monday, May 19th. They issued a "buy" rating and a $255.00 target price on the stock. Finally, HSBC lowered shares of American Tower from a "buy" rating to a "hold" rating and set a $235.00 price target for the company. in a report on Wednesday, July 30th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat, American Tower has an average rating of "Moderate Buy" and an average price target of $244.73.

Insider Activity at American Tower

In other news, CEO Juan Font sold 720 shares of the firm's stock in a transaction on Thursday, July 31st. The shares were sold at an average price of $208.33, for a total transaction of $149,997.60. Following the sale, the chief executive officer directly owned 23,425 shares in the company, valued at $4,880,130.25. This trade represents a 2.98% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.18% of the stock is owned by insiders.

American Tower Stock Performance

Shares of AMT stock traded down $7.21 during mid-day trading on Monday, reaching $191.12. 2,293,295 shares of the company's stock traded hands, compared to its average volume of 2,615,369. The firm has a market capitalization of $89.49 billion, a PE ratio of 69.55, a price-to-earnings-growth ratio of 1.22 and a beta of 0.86. American Tower Corporation has a 12 month low of $172.51 and a 12 month high of $243.56. The firm has a 50 day moving average price of $213.60 and a two-hundred day moving average price of $213.65. 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 quarterly earnings data on Tuesday, July 29th. The real estate investment trust reported $2.60 EPS for the quarter, beating the consensus estimate of $2.59 by $0.01. The firm had revenue of $2.63 billion for 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 period last year, the firm earned $2.79 EPS. American Tower has set its FY 2025 guidance at 10.460-10.650 EPS. On average, research analysts forecast that American Tower Corporation will post 10.14 EPS for the current 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.