Vestmark Advisory Solutions Inc. Grows Position in American Tower Corporation $AMT

Key Points

• Vestmark Advisory Solutions Inc. increased its stake in American Tower Corporation by 81.5%, acquiring 5,183 additional shares, raising its total holdings to 11,544 shares worth approximately $2.51 million.
• In the latest analyst ratings, Raymond James set a price target of $250 on the stock, with a "strong-buy" rating, while the consensus rating for American Tower is a "Moderate Buy" with an average price target of $244.47.
• American Tower's latest quarterly earnings report indicated an EPS of $2.60, slightly above analysts' expectations, but revenue fell 9.4% year-over-year.

Vestmark Advisory Solutions Inc. increased its position in shares of American Tower Corporation (NYSE:AMT - Free Report) by 81.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 11,544 shares of the real estate investment trust's stock after acquiring an additional 5,183 shares during the period. Vestmark Advisory Solutions Inc.'s holdings in American Tower were worth $2,512,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. North Capital Inc. bought a new position in shares of American Tower in the 1st quarter worth $25,000. Hopwood Financial Services Inc. increased its holdings in shares of American Tower by 100.0% in the 1st quarter. Hopwood Financial Services Inc. now owns 120 shares of the real estate investment trust's stock worth $26,000 after buying an additional 60 shares during the last quarter. E Fund Management Hong Kong Co. Ltd. purchased a new stake in shares of American Tower in the 1st quarter valued at $31,000. Lowe Wealth Advisors LLC boosted its stake 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 in the last quarter. Finally, Minot DeBlois Advisors LLC purchased a new stake in shares of American Tower in the 4th quarter valued at $29,000. Institutional investors own 92.69% of the company's stock.

Insider Activity

In related news, CEO Juan Font sold 720 shares of the firm's 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 owned 23,425 shares of the company's stock, valued at approximately $4,880,130.25. This trade represents a 2.98% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.17% of the company's stock.

American Tower Stock Performance

Shares of NYSE AMT traded down $0.53 during trading on Thursday, reaching $208.97. 458,008 shares of the company traded hands, compared to its average volume of 2,588,927. The firm has a 50 day simple moving average of $216.98 and a 200-day simple moving average of $212.11. 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 stock has a market capitalization of $97.85 billion, a PE ratio of 75.98, a P/E/G ratio of 1.18 and a beta of 0.82. American Tower Corporation has a 52-week low of $172.51 and a 52-week high of $243.56.

American Tower (NYSE:AMT - Get Free Report) last announced 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 firm 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 quarterly revenue was down 9.4% compared to the same quarter last year. During the same quarter last year, the firm posted $2.79 EPS. American Tower has set its FY 2025 guidance at 10.460-10.650 EPS. Equities research analysts anticipate that American Tower Corporation will post 10.14 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on AMT shares. Raymond James Financial set a $250.00 price objective on shares of American Tower and gave the company a "strong-buy" rating in a research note on Wednesday, July 30th. Barclays increased their price target on shares of American Tower from $246.00 to $250.00 and gave the company an "overweight" rating in a research report on Monday. JPMorgan Chase & Co. increased their price target 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. UBS Group increased their price target 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, The Goldman Sachs Group reissued a "buy" rating on shares of American Tower in a research report on Tuesday, July 29th. Two equities 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.com, the stock currently has an average rating of "Moderate Buy" and a consensus 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.