American Tower Corporation $AMT Shares Sold by Cbre Investment Management Listed Real Assets LLC

Key Points

• Cbre Investment Management reduced its stake in American Tower Corporation by 21.0%, now owning 607,696 shares worth approximately $132.24 million as of the latest filing.
• American Tower's revenue was reported at $2.63 billion for the last quarter, a decrease of 9.4% year-over-year, but earnings per share slightly topped estimates.
• Analysts maintain a consensus rating of "Moderate Buy" for American Tower with a target price averaging $244.73, despite mixed ratings from various investment firms.

Cbre Investment Management Listed Real Assets LLC trimmed its stake in shares of American Tower Corporation (NYSE:AMT - Free Report) by 21.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 607,696 shares of the real estate investment trust's stock after selling 162,024 shares during the quarter. American Tower accounts for 2.0% of Cbre Investment Management Listed Real Assets LLC's holdings, making the stock its 12th largest holding. Cbre Investment Management Listed Real Assets LLC owned about 0.13% of American Tower worth $132,235,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also made changes to their positions in the company. Nuveen LLC purchased a new stake in American Tower during the 1st quarter valued at approximately $991,525,000. Price T Rowe Associates Inc. MD raised its stake in American Tower by 39.6% during the 1st 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 during the last quarter. GAMMA Investing LLC raised its stake in American Tower by 23,627.3% during the 1st quarter. GAMMA Investing LLC now owns 1,701,957 shares of the real estate investment trust's stock valued at $370,346,000 after acquiring an additional 1,694,784 shares during the last quarter. Bessemer Group Inc. raised its stake in American Tower by 272.0% during the 1st quarter. Bessemer Group Inc. now owns 1,136,903 shares of the real estate investment trust's stock valued at $247,390,000 after acquiring an additional 831,247 shares during the last quarter. Finally, T. Rowe Price Investment Management Inc. raised its stake in American Tower by 490.9% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 650,789 shares of the real estate investment trust's stock valued at $141,612,000 after acquiring an additional 540,648 shares during the last quarter. 92.69% of the stock is owned by hedge funds and other institutional investors.

American Tower Trading Up 1.0%

Shares of American Tower stock opened at $211.77 on Friday. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 3.36. The firm has a market cap of $99.16 billion, a PE ratio of 77.01, a P/E/G ratio of 1.20 and a beta of 0.82. The business's fifty day moving average is $216.76 and its two-hundred day moving average is $212.47. American Tower Corporation has a fifty-two week low of $172.51 and a fifty-two week high of $243.56.

American Tower (NYSE:AMT - Get Free Report) last issued its earnings results on Tuesday, July 29th. The real estate investment trust reported $2.60 earnings per share for the quarter, topping the consensus estimate 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%.The business's quarterly revenue was down 9.4% on a year-over-year basis. During the same period last year, the company posted $2.79 EPS. American Tower has set its FY 2025 guidance at 10.460-10.650 EPS. Analysts anticipate that American Tower Corporation will post 10.14 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on AMT shares. Scotiabank increased their target price on American Tower from $234.00 to $248.00 and gave the stock a "sector outperform" rating in a research note on Wednesday, April 30th. UBS Group upped their price target on American Tower from $250.00 to $260.00 and gave the stock a "buy" rating in a report on Tuesday, July 8th. Bank of America began coverage on American Tower in a report on Monday, May 19th. They issued a "buy" rating and a $255.00 price target on the stock. HSBC cut American Tower from a "buy" rating to a "hold" rating and set a $235.00 target price on the stock. in a report on Wednesday, July 30th. Finally, Hsbc Global Res cut American Tower from a "strong-buy" rating to a "hold" rating in a report on Wednesday, July 30th. Two investment 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 stock. Based on data from MarketBeat.com, American Tower has a consensus rating of "Moderate Buy" and an average price target of $244.73.

Insider Buying and Selling

In other news, CEO Juan Font sold 720 shares of the firm's stock in a transaction dated Thursday, July 31st. The stock was sold at an average price of $208.33, for a total transaction of $149,997.60. Following the completion of 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.17% of the stock is owned by company insiders.

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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