Mill Creek Capital Advisors LLC Sells 1,589 Shares of American Tower Corporation $AMT

Key Points

• Mill Creek Capital Advisors LLC reduced its shares in American Tower Corporation by 13.7%, now holding 10,040 shares valued at $2,185,000.
• American Tower reported a $2.60 EPS for the last quarter, slightly exceeding expectations, although its year-over-year revenue decreased by 9.4%.
• Analysts have mixed views on American Tower, with Barclays raising its price target to $246.00 while Wells Fargo lowered it to $230.00, reflecting diverse opinions on the stock's performance.

Mill Creek Capital Advisors LLC trimmed its stake in American Tower Corporation (NYSE:AMT - Free Report) by 13.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,040 shares of the real estate investment trust's stock after selling 1,589 shares during the period. Mill Creek Capital Advisors LLC's holdings in American Tower were worth $2,185,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. North Capital Inc. purchased a new position in American Tower during the 1st quarter worth approximately $25,000. Hopwood Financial Services Inc. boosted its holdings in shares of American Tower by 100.0% in the first quarter. Hopwood Financial Services Inc. now owns 120 shares of the real estate investment trust's stock valued at $26,000 after acquiring an additional 60 shares in the last quarter. E Fund Management Hong Kong Co. Ltd. acquired a new position in American Tower during the 1st quarter worth approximately $31,000. Lowe Wealth Advisors LLC raised its position in American Tower by 218.0% in the first quarter. Lowe Wealth Advisors LLC now owns 159 shares of the real estate investment trust's stock worth $35,000 after acquiring an additional 109 shares in the last quarter. Finally, Minot DeBlois Advisors LLC acquired a new stake in shares of American Tower in the fourth quarter valued at about $29,000. 92.69% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Juan Font sold 720 shares of the stock in a transaction dated Thursday, July 31st. The stock was sold at an average price of $208.33, for a total transaction 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 represents a 2.98% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.17% of the company's stock.

American Tower Trading Up 0.9%

NYSE AMT traded up $1.8990 on Friday, hitting $211.6290. 1,266,895 shares of the stock were exchanged, compared to its average volume of 2,587,113. The company's 50-day moving average price is $216.82 and its two-hundred day moving average price is $212.28. The company has a debt-to-equity ratio of 3.36, a current ratio of 0.95 and a quick ratio of 0.95. The company has a market capitalization of $99.10 billion, a price-to-earnings ratio of 76.99, a P/E/G ratio of 1.19 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 posted its quarterly earnings results on Tuesday, July 29th. The real estate investment trust reported $2.60 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.59 by $0.01. American Tower had a net margin of 12.60% and a return on equity of 24.85%. The business had revenue of $2.63 billion during the quarter, compared to analyst estimates of $2.58 billion. The firm's revenue was down 9.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.79 earnings per share. American Tower has set its FY 2025 guidance at 10.460-10.650 EPS. Research analysts predict that American Tower Corporation will post 10.14 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on AMT shares. Barclays increased their price objective on shares of American Tower from $246.00 to $250.00 and gave the company an "overweight" rating in a research note on Monday. The Goldman Sachs Group reissued a "buy" rating on shares of American Tower in a research report on Tuesday, July 29th. Bank of America initiated coverage on American Tower in a research note on Monday, May 19th. They set a "buy" rating and a $255.00 target price for the company. BMO Capital Markets restated an "outperform" rating and issued a $245.00 price target (down previously from $250.00) on shares of American Tower in a research note on Wednesday, July 30th. Finally, Hsbc Global Res lowered American Tower from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, July 30th. Two research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat.com, American Tower currently has a consensus 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.