American Century Companies Inc. Purchases 244,047 Shares of American Tower Corporation $AMT

Key Points

• American Century Companies Inc. increased its holdings in American Tower Corporation by 15.7%, owning 1,794,265 shares valued at approximately $390 million by the end of the last reporting period.
• American Tower reported $2.60 earnings per share for the most recent quarter, slightly exceeding analyst expectations of $2.59, but showing a decline from last year's $2.79.
• Equity research analysts have varied ratings on American Tower, with 12 buy ratings, 4 hold ratings, and a consensus price target of $244.47.

American Century Companies Inc. grew its position in shares of American Tower Corporation (NYSE:AMT - Free Report) by 15.7% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,794,265 shares of the real estate investment trust's stock after buying an additional 244,047 shares during the quarter. American Century Companies Inc. owned 0.38% of American Tower worth $390,432,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Elmwood Wealth Management Inc. boosted its holdings in American Tower by 2.5% in the first quarter. Elmwood Wealth Management Inc. now owns 2,087 shares of the real estate investment trust's stock worth $454,000 after purchasing an additional 50 shares during the last quarter. 4J Wealth Management LLC boosted its holdings in American Tower by 4.0% in the first quarter. 4J Wealth Management LLC now owns 1,301 shares of the real estate investment trust's stock worth $283,000 after purchasing an additional 50 shares during the last quarter. TCTC Holdings LLC boosted its holdings in American Tower by 15.8% in the first quarter. TCTC Holdings LLC now owns 374 shares of the real estate investment trust's stock worth $81,000 after purchasing an additional 51 shares during the last quarter. Coyle Financial Counsel LLC boosted its holdings in American Tower by 2.4% in the first quarter. Coyle Financial Counsel LLC now owns 2,238 shares of the real estate investment trust's stock worth $487,000 after purchasing an additional 53 shares during the last quarter. Finally, CreativeOne Wealth LLC raised its position in American Tower by 2.1% in the fourth quarter. CreativeOne Wealth LLC now owns 2,601 shares of the real estate investment trust's stock worth $477,000 after acquiring an additional 54 shares during the period. Hedge funds and other institutional investors own 92.69% of the company's stock.

Insider Activity at American Tower

In other news, CEO Juan Font sold 720 shares of the business's stock in a transaction dated 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 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 document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.18% of the company's stock.

American Tower Trading Up 1.7%

American Tower stock traded up $3.4250 during trading hours on Tuesday, hitting $206.5550. The company had a trading volume of 1,581,338 shares, compared to its average volume of 2,604,524. The firm has a market cap of $96.72 billion, a P/E ratio of 75.11, a P/E/G ratio of 1.17 and a beta of 0.82. The company has a debt-to-equity ratio of 3.36, a quick ratio of 0.95 and a current ratio of 0.95. American Tower Corporation has a 1 year low of $172.51 and a 1 year high of $243.56. The company has a 50-day moving average price of $217.24 and a two-hundred day moving average price of $212.17.

American Tower (NYSE:AMT - Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The real estate investment trust reported $2.60 earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts' expectations of $2.58 billion. During the same period in the previous year, the company earned $2.79 EPS. The firm's quarterly revenue was down 9.4% on a year-over-year basis. 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 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Barclays increased their price target on shares of American Tower from $246.00 to $250.00 and gave the stock an "overweight" rating in a research report on Monday. HSBC downgraded shares of American Tower from a "buy" rating to a "hold" rating and set a $235.00 price target on the stock. in a research report on Wednesday, July 30th. Wells Fargo & Company decreased their price objective on shares of American Tower from $240.00 to $230.00 and set an "overweight" rating on the stock in a research report on Wednesday, July 30th. Hsbc Global Res downgraded shares of American Tower from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, July 30th. Finally, Bank of America began coverage on shares of American Tower in a research report on Monday, May 19th. They set a "buy" rating and a $255.00 price objective on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat.com, American Tower has an average rating of "Moderate Buy" and an average target price of $244.73.

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.