American Tower Corporation (NYSE:AMT) Shares Purchased by Sei Investments Co.

Key Points

• Sei Investments Co. has increased its stake in American Tower Corporation by 1.2%, making it the seventh largest position in their portfolio, with holdings valued at approximately $219 million.
• American Tower recently reported a quarterly earnings per share (EPS) of $2.60, beating estimates and generating revenue of $2.63 billion, despite a year-over-year decline in revenue by 9.4%.
• Wall Street analysts maintain a generally positive outlook on American Tower, with an average price target of $243.88 and the majority rating it as a "Moderate Buy".

Sei Investments Co. raised its stake in shares of American Tower Corporation (NYSE:AMT - Free Report) by 1.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,007,328 shares of the real estate investment trust's stock after acquiring an additional 12,320 shares during the quarter. American Tower makes up 2.1% of Sei Investments Co.'s portfolio, making the stock its 7th biggest position. Sei Investments Co. owned 0.22% of American Tower worth $219,195,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently added to or reduced their stakes in AMT. Nuveen LLC bought a new position in American Tower during the 1st quarter valued at $991,525,000. Capital Research Global Investors lifted its position in shares of American Tower by 66.5% in the 4th quarter. Capital Research Global Investors now owns 8,563,046 shares of the real estate investment trust's stock worth $1,570,547,000 after buying an additional 3,421,413 shares during the last quarter. Capital World Investors lifted its position in shares of American Tower by 160.6% in the 4th quarter. Capital World Investors now owns 4,920,100 shares of the real estate investment trust's stock worth $902,396,000 after buying an additional 3,032,005 shares during the last quarter. GAMMA Investing LLC lifted its position in shares of American Tower by 23,627.3% in the 1st quarter. GAMMA Investing LLC now owns 1,701,957 shares of the real estate investment trust's stock worth $370,346,000 after buying an additional 1,694,784 shares during the last quarter. Finally, Bessemer Group Inc. lifted its position in shares of American Tower by 272.0% in the 1st quarter. Bessemer Group Inc. now owns 1,136,903 shares of the real estate investment trust's stock worth $247,390,000 after buying an additional 831,247 shares during the last quarter. 92.69% of the stock is currently owned by institutional investors.

American Tower Price Performance

Shares of AMT traded up $2.74 during mid-day trading on Friday, hitting $206.20. The company's stock had a trading volume of 2,640,404 shares, compared to its average volume of 2,248,539. The firm has a 50-day moving average price of $217.44 and a 200 day moving average price of $211.86. The stock has a market capitalization of $96.55 billion, a price-to-earnings ratio of 74.98, a PEG ratio of 1.17 and a beta of 0.82. The company has a debt-to-equity ratio of 3.36, a current ratio of 0.95 and a quick ratio of 0.95. 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 announced its quarterly earnings data on Tuesday, July 29th. The real estate investment trust reported $2.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.59 by $0.01. The company had revenue of $2.63 billion for 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% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.79 EPS. On average, research analysts predict that American Tower Corporation will post 10.14 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on AMT. BMO Capital Markets restated an "outperform" rating and issued a $245.00 price target (down from $250.00) on shares of American Tower in a research report on Wednesday, July 30th. JPMorgan Chase & Co. lifted their price objective on shares of American Tower from $250.00 to $255.00 and gave the company an "overweight" rating in a research report on Wednesday, July 30th. Scotiabank lifted their price objective on shares of American Tower from $234.00 to $248.00 and gave the company a "sector outperform" rating in a research report on Wednesday, April 30th. UBS Group lifted their price objective on shares of American Tower from $250.00 to $260.00 and gave the company a "buy" rating in a research report on Tuesday, July 8th. Finally, Barclays lifted their price objective on shares of American Tower from $223.00 to $246.00 and gave the company an "overweight" rating in a research report on Wednesday, July 23rd. Four research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, American Tower has a consensus rating of "Moderate Buy" and a consensus price target of $244.47.

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 transaction, the chief executive officer directly owned 23,425 shares of the company's stock, valued at $4,880,130.25. This trade represents a 2.98% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.17% of the stock is currently owned by company insiders.

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.