Fjarde AP Fonden Fourth Swedish National Pension Fund Lowers Stake in American Tower Corporation $AMT

Key Points

• Fjarde AP Fonden Fourth Swedish National Pension Fund reduced its holdings in American Tower Corporation by 17.6%, currently owning 63,284 shares worth approximately $13.77 million.
• American Tower's quarterly earnings report revealed an EPS of $2.60, slightly beating analyst expectations, though revenue decreased by 9.4% year-over-year to $2.63 billion.
• Recent analyst ratings for American Tower have been mixed, with price targets ranging from $230 to $260, reflecting a consensus rating of "Moderate Buy."

Fjarde AP Fonden Fourth Swedish National Pension Fund reduced its stake in shares of American Tower Corporation (NYSE:AMT - Free Report) by 17.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 63,284 shares of the real estate investment trust's stock after selling 13,500 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund's holdings in American Tower were worth $13,771,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. Mitsubishi UFJ Asset Management UK Ltd. bought a new stake in American Tower during the first quarter worth approximately $1,088,000. E Fund Management Co. Ltd. increased its stake in American Tower by 5.6% during the first quarter. E Fund Management Co. Ltd. now owns 1,589 shares of the real estate investment trust's stock worth $346,000 after acquiring an additional 84 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. increased its stake in American Tower by 6.3% during the first quarter. Tokio Marine Asset Management Co. Ltd. now owns 14,093 shares of the real estate investment trust's stock worth $3,067,000 after acquiring an additional 831 shares during the last quarter. S Bank Fund Management Ltd bought a new stake in American Tower during the first quarter worth approximately $873,000. Finally, Maple Brown Abbott Ltd increased its stake in American Tower by 27.9% during the first quarter. Maple Brown Abbott Ltd now owns 293,081 shares of the real estate investment trust's stock worth $63,780,000 after acquiring an additional 63,941 shares during the last quarter. 92.69% of the stock is owned by institutional investors.

American Tower Trading Up 1.3%

Shares of NYSE AMT traded up $2.5840 during trading hours on Wednesday, reaching $209.2340. The stock had a trading volume of 2,217,515 shares, compared to its average volume of 2,376,061. 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 firm has a market cap of $97.97 billion, a price-to-earnings ratio of 76.09, a P/E/G ratio of 1.18 and a beta of 0.82. The business's fifty day moving average price is $216.98 and its two-hundred day moving average price is $212.11. 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 during the quarter, compared to analyst estimates of $2.58 billion. American Tower had a return on equity of 24.85% and a net margin of 12.60%.American Tower's quarterly revenue was down 9.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.79 earnings per share. American Tower has set its FY 2025 guidance at 10.460-10.650 EPS. Analysts expect that American Tower Corporation will post 10.14 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on AMT shares. The Goldman Sachs Group reissued a "buy" rating on shares of American Tower in a research note on Tuesday, July 29th. Barclays boosted their target price on American Tower from $246.00 to $250.00 and gave the company an "overweight" rating in a research report on Monday. JPMorgan Chase & Co. boosted their target price on 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 boosted their target price on American Tower from $250.00 to $260.00 and gave the company a "buy" rating in a research report on Tuesday, July 8th. Finally, JMP Securities boosted their target price on American Tower from $248.00 to $260.00 and gave the company a "market outperform" rating in a research report on Wednesday, April 30th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $244.73.

Insider Activity

In related news, CEO Juan Font sold 720 shares of the business's stock in a transaction that occurred on Thursday, July 31st. The stock was 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 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.