American Tower Corporation $AMT Shares Sold by Gamco Investors INC. ET AL

Key Points

• Gamco Investors INC. ET AL reduced its holdings in American Tower Corporation by 10.2%, owning 27,329 shares valued at approximately $5.95 million after selling 3,088 shares in the first quarter.
• Several other institutional investors increased their positions in American Tower, with Ceredex Value Advisors LLC leading with a 23.5% increase to own 230,620 shares worth around $50.18 million.
• American Tower's recent quarterly earnings showed a slight decrease of 9.4% in revenue year-over-year, reporting $2.60 earnings per share, surpassing analyst estimates of $2.59.

Gamco Investors INC. ET AL decreased its stake in American Tower Corporation (NYSE:AMT - Free Report) by 10.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 27,329 shares of the real estate investment trust's stock after selling 3,088 shares during the quarter. Gamco Investors INC. ET AL's holdings in American Tower were worth $5,947,000 as of its most recent SEC filing.

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

American Tower Trading Up 0.6%

AMT stock traded up $1.14 during trading on Monday, reaching $203.70. 2,618,098 shares of the stock were exchanged, compared to its average volume of 2,326,875. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 3.36. The business has a 50 day moving average price of $215.77 and a 200-day moving average price of $213.34. American Tower Corporation has a 1 year low of $172.51 and a 1 year high of $243.56. The firm has a market capitalization of $95.38 billion, a price-to-earnings ratio of 74.07, a P/E/G ratio of 1.26 and a beta of 0.86.

American Tower (NYSE:AMT - Get Free Report) last released its quarterly earnings results on Tuesday, July 29th. The real estate investment trust reported $2.60 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.59 by $0.01. The business had revenue of $2.63 billion for the quarter, compared to the consensus estimate 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 period in the previous year, the firm earned $2.79 EPS. American Tower has set its FY 2025 guidance at 10.460-10.650 EPS. On average, research analysts predict that American Tower Corporation will post 10.14 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. Barclays lifted their target price on shares of American Tower from $246.00 to $250.00 and gave the company an "overweight" rating in a research report on Monday, August 18th. Bank of America initiated coverage on shares of 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 reissued a "buy" rating on shares of American Tower in a research note on Tuesday, July 29th. UBS Group raised their price target 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. Finally, Royal Bank Of Canada raised 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. Two research 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 company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price 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 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 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.17% of the company's stock.

About American Tower

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.