American Tower Corporation $AMT Shares Acquired by Amundi

Key Points

• Amundi has increased its stake in American Tower Corporation by 35.5%, owning a total of 2,838,421 shares valued at approximately $645.7 million.
• American Tower reported earnings of $2.60 per share for the last quarter, slightly surpassing analysts' expectations, but revenue decreased by 9.4% year-over-year.
• Institutional investors own 92.69% of American Tower's stock, reflecting strong confidence from large investors in the company's performance.

Amundi grew its stake in shares of American Tower Corporation (NYSE:AMT - Free Report) by 35.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,838,421 shares of the real estate investment trust's stock after acquiring an additional 743,617 shares during the period. Amundi owned about 0.61% of American Tower worth $645,694,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of AMT. Brighton Jones LLC increased its stake 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 worth $727,000 after purchasing an additional 2,104 shares in the last quarter. Algert Global LLC purchased a new position in shares of American Tower during the 4th quarter worth approximately $1,640,000. Benjamin Edwards Inc. increased its stake in shares of American Tower by 1.5% during the 4th quarter. Benjamin Edwards Inc. now owns 10,164 shares of the real estate investment trust's stock worth $1,864,000 after purchasing an additional 151 shares in the last quarter. Cary Street Partners Financial LLC purchased a new position in shares of American Tower during the 4th quarter worth approximately $3,027,000. Finally, Brevan Howard Capital Management LP increased its stake in shares of American Tower by 146.5% during the 4th quarter. Brevan Howard Capital Management LP now owns 12,966 shares of the real estate investment trust's stock worth $2,378,000 after purchasing an additional 7,706 shares in the last quarter. 92.69% of the stock is owned by hedge funds and other institutional investors.

American Tower Trading Up 1.7%

Shares of AMT traded up $3.27 during mid-day trading on Friday, reaching $198.36. The company had a trading volume of 4,126,139 shares, compared to its average volume of 2,398,712. The stock has a market cap of $92.88 billion, a price-to-earnings ratio of 72.13, a price-to-earnings-growth ratio of 1.20 and a beta of 0.86. The firm has a fifty day simple moving average of $213.60 and a 200-day simple moving average of $213.33. American Tower Corporation has a fifty-two week low of $172.51 and a fifty-two week high of $243.56. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 3.36.

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

Wall Street Analysts Forecast Growth

AMT has been the subject of a number of recent research reports. Wells Fargo & Company dropped their price objective on shares of American Tower from $240.00 to $230.00 and set an "overweight" rating for the company in a research note on Wednesday, July 30th. UBS Group lifted their target price on shares of American Tower from $250.00 to $260.00 and gave the stock a "buy" rating in a research note on Tuesday, July 8th. Hsbc Global Res cut shares of American Tower from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, July 30th. Royal Bank Of Canada lifted their target price 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. Finally, JPMorgan Chase & Co. lifted their target price on shares of American Tower from $250.00 to $255.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 30th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, American Tower presently has a consensus rating of "Moderate Buy" and a consensus price target of $244.73.

Insider Buying and Selling at American Tower

In related news, CEO Juan Font sold 720 shares of American Tower 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 transaction, the chief executive officer owned 23,425 shares in the company, valued at approximately $4,880,130.25. The trade was a 2.98% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.17% of the company's stock.

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.