American Tower Corporation $AMT Shares Sold by Foresight Group Ltd Liability Partnership

Key Points

• Foresight Group Ltd Liability Partnership reduced its stake in American Tower Corporation by 3.1%, now holding 142,382 shares valued at approximately $30.7 million.
• CEO Juan Font sold 720 shares of American Tower on July 31st for nearly $150,000, reducing his ownership by 2.98%.
• American Tower reported $2.60 EPS for the last quarter, slightly exceeding expectations, despite a 9.4% decline in year-over-year revenue.

Foresight Group Ltd Liability Partnership decreased its stake in shares of American Tower Corporation (NYSE:AMT - Free Report) by 3.1% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 142,382 shares of the real estate investment trust's stock after selling 4,540 shares during the quarter. American Tower comprises about 4.4% of Foresight Group Ltd Liability Partnership's portfolio, making the stock its 5th biggest holding. Foresight Group Ltd Liability Partnership's holdings in American Tower were worth $30,713,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently made changes to their positions in the company. North Capital Inc. acquired a new position in American Tower during the first quarter worth $25,000. Hopwood Financial Services Inc. lifted its stake in American Tower by 100.0% in the first quarter. Hopwood Financial Services Inc. now owns 120 shares of the real estate investment trust's stock valued at $26,000 after acquiring an additional 60 shares during the last quarter. Minot DeBlois Advisors LLC bought a new position in shares of American Tower in the 4th quarter valued at about $29,000. E Fund Management Hong Kong Co. Ltd. acquired a new position in shares of American Tower during the 1st quarter worth about $31,000. Finally, Lowe Wealth Advisors LLC raised its holdings in shares of American Tower by 218.0% in the 1st quarter. Lowe Wealth Advisors LLC now owns 159 shares of the real estate investment trust's stock valued at $35,000 after purchasing an additional 109 shares during the period. Institutional investors and hedge funds own 92.69% of the company's stock.

Insider Buying and Selling at American Tower

In other news, CEO Juan Font sold 720 shares of American Tower stock in a transaction that occurred 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 completion of the sale, the chief executive officer directly owned 23,425 shares in the company, valued at approximately $4,880,130.25. The trade was a 2.98% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.17% of the company's stock.

American Tower Trading Down 0.4%

Shares of American Tower stock opened at $193.77 on Thursday. The company has a debt-to-equity ratio of 3.36, a quick ratio of 0.95 and a current ratio of 0.95. The firm has a 50-day moving average of $211.86 and a 200-day moving average of $213.39. American Tower Corporation has a 52-week low of $172.51 and a 52-week high of $241.97. The stock has a market cap of $90.73 billion, a PE ratio of 70.46, a PEG ratio of 1.20 and a beta of 0.86.

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 for the quarter, topping the consensus estimate of $2.59 by $0.01. The business had revenue of $2.63 billion during the quarter, compared to analysts' expectations of $2.58 billion. American Tower had a net margin of 12.60% and a return on equity of 24.85%. The business's revenue was down 9.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.79 EPS. American Tower has set its FY 2025 guidance at 10.460-10.650 EPS. As a group, sell-side analysts forecast that American Tower Corporation will post 10.14 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Barclays lifted their price target on American Tower from $246.00 to $250.00 and gave the stock an "overweight" rating in a report on Monday, August 18th. JPMorgan Chase & Co. boosted their target price on American Tower from $250.00 to $255.00 and gave the stock an "overweight" rating in a report on Wednesday, July 30th. Bank of America began coverage on American Tower in a research note on Monday, May 19th. They issued a "buy" rating and a $255.00 price target on the stock. The Goldman Sachs Group reaffirmed a "buy" rating on shares of American Tower in a research report on Tuesday, July 29th. Finally, Hsbc Global Res downgraded shares of American Tower from a "strong-buy" rating to a "hold" rating 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 issued a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $244.73.

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.

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