J. Stern & Co. LLP Acquires 12,821 Shares of American Tower Corporation $AMT

Key Points

• J. Stern & Co. LLP has increased its holdings in American Tower Corporation (NYSE:AMT) by 10.5%, making it the 19th largest position in their portfolio, now valued at approximately $29.46 million.
• American Tower's recent quarterly earnings showed an EPS of $2.60, exceeding expectations, although their revenue declined 9.4% year-over-year to $2.63 billion.
• Institutional investors and hedge funds own a substantial 92.69% of American Tower's stock, indicating strong interest and confidence in the company.

J. Stern & Co. LLP raised its holdings in American Tower Corporation (NYSE:AMT - Free Report) by 10.5% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 135,397 shares of the real estate investment trust's stock after purchasing an additional 12,821 shares during the quarter. American Tower accounts for 2.8% of J. Stern & Co. LLP's holdings, making the stock its 19th largest holding. J. Stern & Co. LLP's holdings in American Tower were worth $29,462,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Golden State Wealth Management LLC grew its stake in American Tower by 23.0% during the 1st quarter. Golden State Wealth Management LLC now owns 369 shares of the real estate investment trust's stock worth $80,000 after purchasing an additional 69 shares in the last quarter. Shum Financial Group Inc. grew its stake in American Tower by 3.5% during the 1st quarter. Shum Financial Group Inc. now owns 4,196 shares of the real estate investment trust's stock worth $913,000 after buying an additional 141 shares during the last quarter. Kovitz Investment Group Partners LLC lifted its position in American Tower by 126.0% during the 1st quarter. Kovitz Investment Group Partners LLC now owns 97,495 shares of the real estate investment trust's stock worth $21,215,000 after acquiring an additional 54,360 shares during the period. AEGON ASSET MANAGEMENT UK Plc lifted its position in American Tower by 13.3% during the 1st quarter. AEGON ASSET MANAGEMENT UK Plc now owns 231,913 shares of the real estate investment trust's stock worth $50,487,000 after acquiring an additional 27,194 shares during the period. Finally, Georgetown University lifted its position in American Tower by 128.2% during the 4th quarter. Georgetown University now owns 45,654 shares of the real estate investment trust's stock worth $8,373,000 after acquiring an additional 25,651 shares during the period. Hedge funds and other institutional investors own 92.69% of the company's stock.

American Tower Stock Performance

Shares of NYSE:AMT traded up $1.14 during trading on Friday, hitting $203.70. 2,618,098 shares of the company traded hands, compared to its average volume of 2,597,037. The stock has a market capitalization of $95.38 billion, a price-to-earnings ratio of 74.07, a PEG ratio of 1.16 and a beta of 0.82. The business's fifty day moving average is $216.04 and its 200-day moving average is $212.95. American Tower Corporation has a one year low of $172.51 and a one year high of $243.56. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 3.36.

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

Analyst Upgrades and Downgrades

Several analysts have recently commented on AMT shares. UBS Group raised their price target on American Tower from $250.00 to $260.00 and gave the company a "buy" rating in a report on Tuesday, July 8th. 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. Royal Bank Of Canada raised their price target on American Tower from $250.00 to $260.00 and gave the stock an "outperform" rating in a research report on Thursday, July 31st. JPMorgan Chase & Co. lifted their price objective on American Tower from $250.00 to $255.00 and gave the company an "overweight" rating in a research report on Wednesday, July 30th. Finally, BMO Capital Markets reiterated an "outperform" rating and issued a $245.00 target price (down previously from $250.00) on shares of American Tower 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 given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $244.73.

Insider Activity

In other news, CEO Juan Font sold 720 shares of the company's stock in a transaction on Thursday, July 31st. The shares were sold at an average price of $208.33, for a total value of $149,997.60. Following the transaction, the chief executive officer directly owned 23,425 shares of the company's stock, valued at approximately $4,880,130.25. This represents a 2.98% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.17% of the stock is owned by insiders.

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.