Advisors Asset Management Inc. Grows Position in American Tower Corporation $AMT

Key Points

• Advisors Asset Management Inc. increased its stake in American Tower Corporation by 12.1% during the first quarter, owning 120,781 shares valued at approximately $26.3 million.
• American Tower's recent quarterly earnings reported $2.60 per share, slightly surpassing analyst expectations, while revenue fell 9.4% year-over-year.
• Wall Street analysts maintain a positive outlook on American Tower, with a consensus rating of "Moderate Buy" and a price target of around $244.73.

Advisors Asset Management Inc. lifted its position in shares of American Tower Corporation (NYSE:AMT - Free Report) by 12.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 120,781 shares of the real estate investment trust's stock after acquiring an additional 13,036 shares during the period. American Tower makes up approximately 0.5% of Advisors Asset Management Inc.'s portfolio, making the stock its 27th largest position. Advisors Asset Management Inc.'s holdings in American Tower were worth $26,282,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of American Tower by 0.7% during the first quarter. Vanguard Group Inc. now owns 62,809,486 shares of the real estate investment trust's stock valued at $13,667,344,000 after acquiring an additional 434,118 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of American Tower by 39.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 8,144,040 shares of the real estate investment trust's stock valued at $1,772,144,000 after acquiring an additional 2,309,627 shares in the last quarter. Deutsche Bank AG increased its position in shares of American Tower by 4.0% during the first quarter. Deutsche Bank AG now owns 7,383,368 shares of the real estate investment trust's stock valued at $1,606,621,000 after acquiring an additional 285,195 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of American Tower by 1.4% during the first quarter. Dimensional Fund Advisors LP now owns 6,534,862 shares of the real estate investment trust's stock valued at $1,421,965,000 after acquiring an additional 88,120 shares in the last quarter. Finally, Principal Financial Group Inc. increased its position in shares of American Tower by 3.7% during the first quarter. Principal Financial Group Inc. now owns 6,136,981 shares of the real estate investment trust's stock valued at $1,335,407,000 after acquiring an additional 220,565 shares in the last quarter. Institutional investors own 92.69% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on AMT. Hsbc Global Res lowered shares of American Tower from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, July 30th. Wells Fargo & Company reduced their price target 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. Royal Bank Of Canada lifted 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. 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 research note on Wednesday, July 30th. Finally, BMO Capital Markets reiterated an "outperform" rating and issued a $245.00 price target (down from $250.00) on shares of American Tower in a research note 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 issued a Hold rating to the company. Based on data from MarketBeat, the stock currently 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. 0.17% of the stock is owned by insiders.

American Tower Stock Performance

Shares of AMT traded up $3.27 on Friday, reaching $198.36. The company's stock had a trading volume of 4,126,139 shares, compared to its average volume of 2,398,712. The company has a debt-to-equity ratio of 3.36, a current ratio of 0.95 and a quick ratio of 0.95. The stock has a market capitalization of $92.88 billion, a P/E ratio of 72.13, a PEG ratio of 1.22 and a beta of 0.86. The stock's 50 day simple moving average is $213.60 and its two-hundred day simple moving average is $213.50. American Tower Corporation has a 12-month low of $172.51 and a 12-month high of $243.56.

American Tower (NYSE:AMT - Get Free Report) last posted 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 net margin of 12.60% and a return on equity of 24.85%. The company had revenue of $2.63 billion for the quarter, compared to the consensus estimate of $2.58 billion. During the same quarter last year, the firm posted $2.79 earnings per share. The firm's revenue 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. Research analysts forecast that American Tower Corporation will post 10.14 earnings per share for the current fiscal 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.